Overview

In tandem with optimisation initiatives at the current operating Manaila open pit, Vast is currently advancing its strategy to establish a new, larger Manaila Metallurgical Complex (“MMC”) at Manaila or at the adjacent Carlibaba Manaila Extension, which is the site of an intended future open cast mine and new metallurgical processing facility.

Results were reported in November 2017 from 2,150m drilling programme designed to confirm Carlibaba’s suitability as a second open pit mine within the Manaila licence area.  Subject to an economic assessment, the drilling results supported the development of a second open pit operation at Manaila, in addition to a new metallurgical processing facility on site, which would reduce Manaila opex costs by up to 25%. It is anticipated that this would be funded using pre-payment finance from the Company’s intended offtake partner.

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