1170: Andrew Prelea of Vast Resources: We are the most undervalued stock on AIM


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Andrew Prelea, CEO of Vast Resources #VAST discusses progress at Baita Plai and the Zimbabwe Court settlement over 129,400 carats of rough diamonds, which when combined he believes could mean they are the most undervalued company on AIM, hence why he took part in their placing to raise £2.38m.

Vast Resources plc, the AIM-listed mining company, announces that it has raised £2,382,500 gross through a placing and subscription (the ‘Placing and Subscription’) of 433,181,818 ordinary shares of 0.1p in the Company (‘Ordinary Shares’) at a price of 0.55p per Ordinary Share (the ‘Placing and Subscription Shares’). The Placing was undertaken by the Company’s joint broker, Axis Capital Markets Ltd (‘Axis’) in addition to participation from Shore Capital Stockbrokers Limited and Andrew Prelea, CEO of Vast Resources PLC.
The net cash raised from the Placing and Subscription will be focused on the ongoing drilling programme and the production ramp up at the Company’s Baita Plai Polymetallic Mine in Romania (‘Baita Plai’), as it continues to move towards realising name plate capacity of 14,000 tonnes per month in H1 2023 following a strong Q4 2022 production and sales performance.
To read the full RNS click here

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