Andrew Prelea, chief executive of Vast Resources PLC (LON:VAST), tells Proactive's Andrew Scott they've agreed a conditional refinancing and offtake deal.
It's with Mercuria Energy Trading for 100% of the copper and zinc concentrate produced at Vast's Manaila and Baita Plai polymetallic mines in Romania.
Should Vast go ahead and accept the offer, Mercuria will make up to US$9.5mln available to the company which would be drawn down in two tranches: US$4mln to be drawn down before March 5 and up to US$5.5mln further down the line.
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