Vast Resources PLC on Wednesday reported higher concentrate production at its Baita Plai polymetallic mine in Romania in the second quarter of 2023.
The London-based mining company with projects in Romania and Zimbabwe said concentrate output in the second quarter rose 13% to 23,372 tonnes from 20,728 tonnes a quarter ago.
‘The increase in production in June was due to the opening of sub level 5 which allows mining on multiple fronts,’ the company explained.
Chief Executive Officer Andrew Prelea said: ‘Our production goals are linked closely with our exploration activities, and the positive Phase 1 results reported post period end give the team further confidence in our ability to establish Baita Plai as a profitable long-life mine.’
Vast Resources shares rose 1.9% to 0.32 pence each in London on Wednesday afternoon.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
