Vast Resources repays $1m to secure loan extensions

(Sharecast News) - Vast Resources announced on Monday that it has repaid $1m of outstanding debt to secure an extension on two loan facilities through to the end of the year. The AIM-traded miner said it had paid $0.5m each to A&T Investments and Mercuria Energy Trading, following through on the plans outlined in its 23 October update.

It said it expected to use revenue from upcoming diamond sales, including a tender scheduled for the week beginning 17 November, alongside proceeds from any new offtake finance agreements or broader funding arrangements, to repay the loans in full by 31 December.

Vast said it would update the market further "as and when appropriate."

At 1534 GMT, shares in Vast Resources were down 22.86% at 0.14p.

Reporting by Josh White for Sharecast.com.