On Track To Meet October Production Targets
Vast Resources plc (AIM:VAST) has recommenced production at its Baita Plai Polymetallic Mine in Romania.
CEO, Andrew Prelea, said that following the return to mining operations, the company can confirm that daily blasting has been implemented on the mineralised horizon of the Antonio skarn between 17 level and 18 level.
The blasted ore is stored underground in both the working place silos and the surface silos. Transport of the ore from the surface silos to the flotation plant silos has commenced in preparation for the hot commissioning of the flotation plant expected to follow shortly.
In addition, the incline project has commenced on 18 level with daily blasts being achieved on the new underground development since October1, 2020 according to plan.
The incline is designed to provide access to the continuation of the Antonio skarn from 18 level down to 19 level and will provide a production base for the next four years.
Mr Preleas said that based on the success of the recommencement of mining activity, the company can also confirm that it is on track to meet its October production and sales targets as outlined in the project production and associated operational cashflow forecasts announced on 7 September 2020.
“We are delighted that our Baita Plai operation is operational once more,” Mr Prelea said.
“The swift action our team took to reconnect the mine and flotation plant meant that production was able to resume quickly, resulting in minimal downtime and importantly, there is no expected impact on October production and sales targets. “With potentially one of the lowest operating costs globally, and significant resource expansion opportunities, Baita Plai has significant commercial potential and we are focussed on realising this inherent value for all stakeholders.”
