Aim-listed diversified miner Vast Resources has raised £600 000 through a placement and subscription of around 440-million shares at a price of 0.135p apiece.
The placing was for 407-million ordinary shares, and the subscription was for 37-million shares, of which 29-million and 7.4-million shares were taken up by directors Roy Tucker and Andrew Prelea, respectively.
The proceeds will be used in equal amounts to maintain the company’s operations at the Baita Plai polymetallic mine, in Romania, and the Heritage diamond mine, in Zimbabwe.
The Heritage proceeds will include preparation for immediate mobilisation on the signing of the joint venture contract with the Chiadzwa community trust.