Exchange controls, bond notes spook Vast

AIM-listed mining concern, Vast Resources, is disposing its minority non-controlling interest in Pickstone-Peerless Gold Mine and Giant Gold Mine, as it deleverages its exposure to Zimbabwe.

The disposal, plus the loan facility, would rake in $8 million for Vast, to be used to accelerate development of the company’s core Romanian portfolio of polymetallic mining interests into positive cash flow.

The disposal of the 49,99% shareholding to SSCG Africa Holdings Ltd will raise $4 million.

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