Vast by name and vast in portfolio potential, once Vast Resources secures the financing required to energise its assets, the cash flow will come from its many assets.
“It's a very limited amount of financial resources that are required as a ratio of what the assets are worth, and what they should be producing once we’re capitalised,” says Chief executive Andrew Prelea. “So it's a good medium to long term investment that could bear fruit in the short term once this refinancing takes place.”
The mining junior with mines and projects in Romania, Tajikistan and Zimbabwe has just raised £616,000 which Prelea says is a working capital stop gap before fresh funding comes into the business.
That fresh funding is coming in the form of a Swiss investment company involved in the PGM platinum group metals business, and who according to Prelea want to take a strategic position in Vast and are particularly interested not only in Romania, but Tajikistan where the AIM company is the only in-country private operator.
Additional finance, says Prelea will assist Vast expand the Baita Plai Polymetallic Mine, reopen the Manaila Polymetallic Mine, look at other opportunities in Romania, and expand its footprint by taking some potential options in Tajikistan “which is an incredible opportunity for the company.”
As Andrew explains to Sarah Lowther with a net asset value of £200 million, the company is highly undervalued partly due to a lack of peer comparisons and communication restrictions that have been placed on some corporate activity.
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