Vast Resources raises £1.6m for Romanian opportunities

27th Jul 2015 13:49

(ShareCast News) - Vast Resources has raised around £1.26m before costs through a placing and subscription to provide additional funds for the company's opportunities in Romania and for general corporate purposes.The AIM-listed resources and development company said it has issued 45.4m shares at 1.2p per share, and 60m shares at the same price under the subscription. The placing was carried out by Daniel Stewart & Co.Chief executive officer Roy Pitchford said: "We are grateful for the continued investor support which enables us to continue with the improvements at the Manaila Polymetallic Mine which we are now managing and operating, and also provides us with a good foundation to re-open the Baita Bihor Polymetallic Mine as soon as the licence formalities have been completed."At 13:18, shares were down 3.5% at 0.69p.