A multifaceted approach and mission for Vast Resources
“…They’re not all polymetallic. There’s a lot of silver and gold, and antimony and lithium and all sorts of other deposits that are just completely untouched…”
Vast Resources is multifaceted. The mining company has interests in Romania, Zimbabwe and Tajikistan and it’s the latter country where Vast has had its most recent milestone achievement and update today.
It has an interest in a joint venture company that’s associated with the Takob Mine processing facility there, and the first shipment of lead and zinc concentrate is being loaded. It’s been a logistical learning curve exporting the goods out of the landlocked location, but the cargo is at the start of its journey to off-taker Trafigura the Singapore-domiciled and employee-owned group which describes itself as one of the world’s largest suppliers of commodities.
Vast CEO Andrew Prelea describes Trafigura as a “long term potential strategic partner” in a country that has many exploration opportunities. Prelea says only 7% of Tajikistan has been explored, and of 700 mined deposits there only twenty are being mined now. “They’re not all polymetallic. There’s a lot of silver and gold, and antimony and lithium and all sorts of other deposits that are just completely untouched.”
He’s keeping an open mind about how Vast could avail of those opportunities, and is doggedly developing a strong local network acting as an enabler and consultant in the just announced memorandum of understanding, which after more logistical hoops that Vast is accustomed to, may result in the management, mining and development activities of the Aprelevka gold and silver deposits.
‘Multifaceted’ is also a word associated with diamonds, and Prelea and the Vast board is keen for investors to look at the company in its entirety, and not just focus on a parcel of diamonds that belong to the company but are not yet in Vast’s possession.
As Andrew explains to Sarah Lowther in this video, the company needs to keep schtum until repatriation occurs. “The irony is that the diamonds represent a very small percentage of our portfolio. We have the approval from everybody. It’s now just a matter of putting it to bed and we are confident that that is happening.” Indeed, and how confident is this statement that the Company recently made “Based on current strategy and updated expectations the Company does not believe it will need to raise further equity funding for the foreseeable future.”
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The author was remunerated but does not hold shares in the company