Vast Resources PLC has started full-scale commercial zinc production at its Manaila polymetallic mine in Romania.
Adding zinc concentrate would directly enhance profitability through an increase in revenue and a reduction in costs per tonne, said Roy Pitchford, Vast’s chief executive.
Initial commissioning was in the first week of September, since when 50 tonnes of concentrate have been produced.
The target now is 150 tonnes per month and Vast aims to increase the percentage of zinc in the concentrate to 35%.
Reprocessing of copper tailings to extract zinc has also started.
Vast recently published a first JORC-compliant resource at Manaila.
In the open pit section it has 2.6mln tonnes at 1% copper, 0.4% lead and 0.9% zinc at a 0.25% copper cut-off.
Underground there is an additional 310,000 tonnes at 1.7% copper, 0.4% lead and 0.5% zinc at a 1% copper cut-off.
Pitchford added Manaila was going from ‘strength-to-strength’.
“These recent operational achievements have transformed Manaila’s performance,” he added.
Vast added it had also appointed Brian Moritz, a veteran accountant and corporate finance specialist, as a non-executive director.
source: proactiveinvestors.co.uk
