Aim-listed Vast Resources has received a draft indicative term sheet containing the material indicative terms from a Swiss bank for loan financing of up to $10-million to be applied to the company’s Romanian projects, including the full repayment of the $4-million plus accrued interest in debt owed by the company under a prepayment agreement with Mercuria. The term sheet remains subject to the negotiation of detailed terms, the completion of due diligence and definitive documentation.
