Eureka has an indicated resource of 1,08 million ounces.

HARARE - According to Prelea, Eureka has seen over $30 million in investment since the late 1990s, and he wants to start production as soon as possible, telling Proactive the mine could be producing “in six months, if not in 12”.

Aside from metals, Vast is also dipping its toe into the diamonds sector, teaming up with Botswana Diamonds to investigate opportunities in Zimbabwe.

A memorandum of understanding will see the two companies exchange information derived from past exploration on areas prospective for diamonds in Zimbabwe and to form a special purpose jointly owned company to develop and exploit anything they find.

With such a diverse offering on the table, Prelea is hoping that the group’s attractiveness as an investment will continue to increase.

“We’re now trying to find that balance between production volumes and cost efficiencies and profitability, and we’re continuing to do that,” he said.

“We could potentially become a much better investment destination for the institutional investors … and we would also like to broaden our horizon with our retail investors,” he said.

— The Financial Gazette

 

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