Vast Resources fails to secure debt financing for Romanian mining project
Baita Mine Romania Author (Vast Resources)
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BUCHAREST (Romania), January 7 (SeeNews) - UK-based Vast Resources Vast Resources said on Thursday that it has not been able to secure an asset-backed debt-financing process for its Baita Plai polymetallic mine in Romania.
Vast Resources has been informed by the international banking institution that the credit committee is unable to proceed with the approval of transaction until the completion of certain corporate restructuring at which point the bank will reassess the transaction, it said in a press release.
"The company has been given to understand that this decision is unrelated to its current mining activity and is not a negative reflection on the company's Baita Plai polymetallic mine," Vast Resources also said in the statement.