PGM marketing deal with Swiss investment firm and giant ink

mining company vast resources announced on Monday a three-year sales agreement with a Swiss investment company for the exclusive sale of high-grade platinum group metal (PGM) concentrate produced in the EU.

The AIM trading company said that under the agreement, Vasto will receive a 2.5% commission based on sales of dispersed concentrates.

The company expected the transaction to create a significant additional revenue stream for Vasto Resources, in addition to its continued operations at the Baita Prai mine in Romania and its expanding interests in Tajikistan.

As part of the deal, Vasto said it has received an offer from Dubai-based Nikash Group to purchase PGM concentrate containing an average of 15% platinum and other premium materials.

The proposal would see Vasto arrange the sale and delivery of approximately two tonnes of high-grade platinum concentrate per month for up to one year.

Although independent analysis confirmed the quality of the platinum concentrate to be 15%, the final sales agreement with Nikash Group was subject to the purchaser’s internal analysis and product testing.

Based on the seller’s valuation, the estimated sale price was expected to exceed $100 million.

The deal marks the first sale of the product on behalf of the Swiss investment firm, and Vasto said it is actively seeking to market other high-value products from the same source to expand its trading desk. Ta.

The company said this activity is consistent with its interests in Vita Prai, Zimbabwe and Tajikistan and complements its existing operations.

“This is the start of a significant additional revenue stream for Vasto, and we aim to strengthen the company’s financial performance throughout 2024, building on our operations in Romania and our interests in Tajikistan,” said Chief Executive Officer Andrew Prelea. said the CEO.

“We look forward to this agreement creating further collaboration opportunities that will strengthen Vast’s operational capabilities.”

At 1321 GMT, Vast Resources’ share price was up 12.49% to 0.14p.

Report by Josh White of Sharecast.com.