StockMarketWire.com - Mining group Vast Resources said it had raised £1.76 million from a share placing to pay $1 million to lender Atlas and cover costs at its Baita Plai mine in Romania.

New shares in the company were issued at 6.3p each.

Vast Resources said Baita Plai was on schedule to meet accumulated net operational cashflow projections to April 2022, in accordance with a revised mine plan announced on 30 March.

The company said it had executed a heads of terms with Atlas Special Opportunities that would form the basis of a deed of variation to restructure convertible bonds into a non-equity linked loan.


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