The amount of mined ore in Manaila went up by 44 percent to 40,462 dry tonnes in the third quarter of the year, while the milled ore quantity grew by 39 percent to 39,135 dry tonnes, Vast Resources announced.
Compared to the second quarter, copper concentrate production increased by 31 percent to 1,082 dry tonnes in the third quarter, while zinc concentrate production decreased by 25 percent to 118 dry tonnes. Moreover, gold concentrate production increased by 50 percent on the third quarter to 7 dry tonnes, while the gold concentrate grade fell by 30 percent on the quarter to 31.4 grams per tonne.
“This October was a very successful one for Vast Resources Romania! Our 3rd quarter results are very good and show that we can deliver quality and quantity from our Manaila mine. At the same time our business development objective for the Romanian company is going according to the plan, with the advancement in negotiations with Baita SA and the commencement of the prospecting licences for Piciorul Zimbrului and Magura Neagra, which are very close from our producing mine in Manaila,” said Andrew Prelea, CEO & president of Vast Resources Romania.
The board meeting of Baita SA requested to its shareholder – the Ministry of Economy – to approve the association on the licence for the exploitation and processing of the polymetallic ore from the Baita Bihor exploitation perimeter with AFCR (owned 80 percent by Vast Resources), in compliance with all the current legal provisions.
Moreover, the prospecting activities have commenced at Piciorul Zimbrului and Magura Neagra in line with Vast Resources’ strategy to increase the resources near Manaila and expand its Romanian footprint through the acquisition of brownfield mining operations and known discoveries.