Vast Resources close to starting first gold production in Zimbabwe

AIM-listed Vast Resources said it is close to starting production at the Pickstone-Peerless mine in Zimbabwe.

The company is targeting production of 10,000 oz from processing 10,000 tonnes a month at an initial grade of 3 g/t tonne.

Vast Resources chief executive Roy Pitchford said it was a very exciting period of development for the company.

“In addition to realising commercial production in Zimbabwe, we continue to advance our polymetallic interests in Romania and we look forward to updating shareholders on our activity in both Zimbabwe and Romania in due course."

SP Angel said in a note it was good to see production starting at the mine despite it being much scaled back from original ambitions.

The company's shares were up 1.75% to 1.43p at 1056 BST on Thursday.