Vast Resources Interim Loss Narrows Amid Favourable Currency Movements

(Alliance News) - Vast Resources PLC on Wednesday posted a narrowed interim pretax loss, helped ...

Alliance News 27 January, 2021 | 2:37PM
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(Alliance News) - Vast Resources PLC on Wednesday posted a narrowed interim pretax loss, helped by the mining company reporting a foreign exchange gain.

Vast, like a year earlier, did not report any revenue as its Baita Plai polymetallic mine in Romania did not begin sales during the six months ended October 31.

The AIM-listed firm's pretax loss slimmed to USD1.0 million from USD3.5 million a year earlier.

Vast reported a USD2.0 million foreign exchange gain, swinging from a USD773,000 loss.

In November, so after the end of the interim period, Vast concluded the first sale of concentrate from Baita Plai.

Also in Romania, Vast owns the Manaila polymetallic mine and in Zimbabwe, it is focused on a joint-venture pact at the Community diamond concession, Chiadzwa.

Vast shares were 7.1% lower at 0.12 pence each in London on Wednesday afternoon.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Vast Resources PLC 0.09 GBX 2.94 -

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