REG - Vast Resources PLC - Placing to raise £2,000,000 - Replacement

Vast ResourcesAnnouncement

Wed 16:30

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RNS Number : 3789F  Vast Resources PLC  29 October 2025

This announcement replaces the announcement with ID number: 301296818 made on
23 October 2025 at 7:00 a.m. with the headline "Placing to raise £2,000,000".
The announcement now includes the number of shares to be issued in respect of
each tranche which was not explicitly stated previously. All other details of
the announcement remain unchanged.

29 October 2025

Vast Resources plc

("Vast" or the "Company")

Placing to raise £2,000,000

Vast Resources plc, the AIM-listed mining company, announces that it has
raised gross proceeds of £2,000,000 by way of a placing for 1,111,111,111 new
ordinary shares of 0.1p in the Company ("Ordinary Shares") (the "Placing") at
a price of 0.18p per new Ordinary Share. The Placing, which will close in two
tranches as set out below, was undertaken by the Company's joint broker, Axis
Capital Markets Ltd ("Axis"). Tranche 1 will comprise 529,027,778 new Ordinary
Shares and Tranche 2 will comprise 582,083,333 new Ordinary Shares.

The net cash raised from the Placing will be used:

·      For repayment of US$1 million of debt from Alpha and Mercuria in
order to secure an extension of their loans, and so enable the Company to
receive diamond proceeds to extinguish their and other outstanding debts.

·      To continue the operational and technical due diligence prior to
resuming operations at Baita Plai mine and reopening Manaila mine as part of
the ongoing review of the Company's asset base and for the purpose of
completing new offtake finance arrangements and/or agreements with new joint
venture partners.

·      To boost the Company's cash position prior to the finalisation of
the Company's annual accounts while the Company awaits proceeds from the sale
of the Historic Diamond parcel from the 17 November tender.

Admission & Total Voting Rights

Application will be made to AIM for the new Ordinary Shares to be issued
pursuant to the Placing, which will rank pari passu with existing Ordinary
Shares, to be admitted to trading on AIM in two tranches. It is expected that
Admission will become effective and dealing will commence on or around 29
October 2025 in respect of 529,027,778 new Ordinary Shares (Tranche 1) (the
"First Admission") and on or around 6 November 2025 in respect of 582,083,333
new Ordinary Shares (Tranche 2) (the "Second Admission").

Following the First Admission, ceteris paribus, the total issued share
capital of the Company will be 4,415,492,276 Ordinary Shares and following the
Second Admission the total issued share capital of the Company will be
4,997,575,609 Ordinary Shares. The Company does not hold any Ordinary Shares
in Treasury and accordingly the above figures of 4,415,492,276 and
4,997,575,609 may then be used by shareholders, on the First and Second
Admission dates respectively, as the denominator for the calculations by which
they will determine if they are required to notify their interest in Vast
under the FCA's Disclosure and Transparency Rule.

**ENDS**

For further information, please visit the Company's website
at www.vastplc.com
(https://www.globenewswire.com/Tracker?data=01pM2UobaA9x-Dsqh6EGwk41tRKGKQgrGTAFOV5Ht2QbVs21-6SuRMZKHFvgvwnQ-ab6ZHV98JvggrHKU_JkRR4g9-UMJSEoND825oIrnms=)
 or contact:

 Vast Resources plc                                         +44 (0) 20 7846 0974

Andrew Prelea (CEO)
 Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 207 409 3494

James Spinney / James Bellman
 Shore Capital Stockbrokers Limited - Joint Broker          +44 (0) 20 7408 4050

Toby Gibbs / James Thomas (Corporate Advisory)
 Axis Capital Markets Limited - Joint Broker                +44 (0) 20 3206 0320

Richard Hutchinson
 St Brides Partners Limited                                 http://www.stbridespartners.co.uk/ (http://www.stbridespartners.co.uk/)

Susie Geliher
+44 (0) 20 7236 1177

ABOUT VAST RESOURCES

Vast Resources plc is a United Kingdom AIM quoted mining company with mines
and projects in Romania, Tajikistan, and Zimbabwe.

In Romania, the Company is focused on the rapid advancement of high-quality
projects by recommencing production at previously producing mines.

The Company's Romanian portfolio includes 100% interest in Vast Baita Plai SA
which owns 100% of the Baita Plai Polymetallic Mine, located in the Apuseni
Mountains, Transylvania, an area which hosts Romania's largest polymetallic
mines. The mine has a JORC compliant Reserve & Resource Report which
underpins the initial mine production life of approximately 3-4 years with an
in-situ total mineral resource of 15,695 tonnes copper equivalent with a
further 1.8M-3M tonnes exploration target. The Company is now working on
confirming an enlarged exploration target of up to 5.8M tonnes.

The Company also owns the Manaila Polymetallic Mine in Romania, which the
Company is looking to bring back into production following a period of care
and maintenance. The Company has also been granted the Manaila Carlibaba
Extended Exploitation Licence that will allow the Company to re-examine the
exploitation of the mineral resources within the larger Manaila Carlibaba
licence area.

The Company retains a continued presence in Zimbabwe. The Company is
re-engaging its future investment strategy in Zimbabwe and has commenced
discussions with further mining concessions in-country alongside its wider
portfolio.

Vast has an interest in a joint venture company which provides exposure to a
near term revenue opportunity from the Takob Mine processing facility in
Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide
Vast with a 12.25 percent royalty over all sales of non-ferrous concentrate
and any other metals produced.

Also in Tajikistan, Vast has been contracted to develop and manage the
Aprelevka gold mines on behalf of its owner Gulf International Minerals Ltd
("Gulf") under which Vast is entitled, inter alia, to 10% of the earnings that
Gulf receives from its 49% interest in Aprelevka in joint venture with the
government of Tajikistan. Aprelevka holds four active operational mining
licences located along the Tien Shan Belt that extends through Central Asia,
currently producing approximately 11,600oz of gold and 116,000 oz of silver
per annum. It is the intention of the Company to assist in increasing
Aprelevka's production from these four mines closer to the historical peak
production rates of approximately 27,000oz of gold and 250,000oz of silver per
year from the operational mines.

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

 

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