Vast Resources (VAST) - Copper Focused Polymetallic with Some Sparkle
Matthew Gordon, Ptolemy Capital
2 Weeks ago
Perlea tells us Vast Resources is a soon to be (mid to late 2021) polymetallic mine producer in Romania. The Baita Plai was obtained in 2015. Their focus is on the copper concentrate. They also have 4 other assets in Romania 2 on appraisal, 1 in care & maintenance and 1 future development project. These are not core focus because the company has limited funds and is quite rightly focus on the nearest revenue asset.
There is also a diamond project in Zimbabwe. That has the ability to generate revenue too. We discuss how they intend to finance the development of this and why diamonds are part of the strategy.
It has been a complicated 2-3 years given market conditions and Perlea has steered the company through choppy waters. They have inherited a lot of information and spent capital. We want to see how they use this to inform how the company grows.
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