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This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Company in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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1 TREO – total rare earth oxides
The ongoing feasibility study envisages doubling the scale of the mining and processing operations at Songwe to one million tonnes per year of RoM feed to the mill. Due to the higher flotation concentrate grade, there would be 36% less tonnes of concentrate entering the hydrometallurgy plant, containing approximately double the quantity of rare earths, versus the pre-feasibility study. The results of the pilot programme, together with variability and other batch scale flotation test work, will be used to determine the flotation parameters over the life of the mine.
The development of the optimised flotation regime is underpinned by a significant amount of mineralogy, comminution and flotation test work undertaken at commercial laboratories in Australia, South Africa, Canada and the United Kingdom, as well as three PhD research projects undertaken at Camborne School of Mines, United Kingdom. Not only has this international effort delivered a
Appointment of Romanian Country Manager
Vast Resources plc, the AIM-listed mining company, is delighted to announce the appointment of
Nicolae Turdean as Romanian Country Manager. Nicolae, who has decades of experience in the mining industry, predominantly in
Romania, will work alongside the newly appointed expert management team at the
Baita Plai Polymetallic Mine and in conjunction with Andrew Prelea, CEO, in the advancement of Vast s wider strategic objectives in the country.
Nicolae began his career over 40 years ago in the Romanian mining industry and his in-depth knowledge of the jurisdiction, geology and regulatory environment should prove to be highly valuable as Vast looks to implement its upgraded mine plan at Baita Plai, and expand its operations to Vast s numerous development interests in due course.
Highlights: · Aura launched a Rights Issue to eligible shareholders for 1 share for every 2 shares held post share consolidation, at a price of $0.026 per share, with strong support from shareholders. · Three months from the record date, which will announced once confirmed ( Record Date ) the Company will also offer 1 Loyalty Option Rights Issue for every 3 Shares held, with the Loyalty Options having an upfront payment of $0.013 each, an exercise price of $0.052, and expiry of 30 June 2024. · The recent placement coupled with the fully underwritten Rights Issue and Loyalty Options Rights Issue will recapitalise the Company, strongly positioning Aura to expedite the development of the zero emission Tiris Uranium Project.