REG - Vast Resources PLC - Replacement - Tender Update

Vast ResourcesAnnouncement

01/12/2025 17:45

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RNS Number : 7608J  Vast Resources PLC  01 December 2025

Tender Update - Replacement

 

This announcement replaces the announcement with ID number: 301316185 released
on 1 December 2025 at 7:40 a.m. with the headline "Tender Update". The
following sentence "Leaving the remainder of the original 135,139.47 carat
parcels, less approximately 2% boiling loss, of untendered stones, Gem
quality" replaces "Leaving a remaining parcel of gem-quality stones totalling
approximately 135,139.47 carats, less an estimated 2% boiling loss, which were
not included in the tender". All other details of the announcement remain
unchanged.

 

 

1 December 2025

Vast Resources plc
("Vast" or the "Company")

 

Tender Update

 

Vast Resources plc, the AIM quoted mining company, wishes to provide the
following further information in relation to the diamond tender process
announced on 25 November 2025.

 

The 123,711.8 carats of lower value gem and industrial stones sold at an
average price of US$6.87 per carat included:

·    50,993.98 carats of industrial stones;

·    63,091.75 carats of rejection low stones

·    8,211.71 carats of rejection high stones.

·    695.5 carats of cleavage stones; and

·    718.88 carats of low quality gem stones;

 

Leaving the remainder of the original 135,139.47 carat parcels, less
approximately 2% boiling loss, of untendered stones, Gem quality.

 

It is noted that whilst the "cleavage" and "rejection high" category stones
were included within the 12,591.77 "mixed / higher quality" gems announced on
17 November 2025, these categories are inherently of lower value than high
grade gems, as indicated by the difference in average sale price as compared
with the 'high grade' stones which sold at an average price of US$1,083 per
carat and it is also noted that the stone categories as set out in the
Company's announcement of 18 November 2025 are determined by the auction house
through which the tender was conducted and not by the Company.

 

The Company also takes this opportunity to state that references to the
quality of stones and are indicative only. The sole material metric by which
Vast sets any store is the sales value as stones are disposed of.

 

The Board was encouraged by this initial tender process which paves the way
for future such tenders and demonstrates the Company's ability to market the
diamonds, and in particular, its high value stones, going forward.

 

The Company will provide further updates to the market as and when
appropriate.

 

**ENDS**

 

For further information, please visit the Company's website at www.vastplc.com
(http://www.vastplc.com) 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 10,400oz of gold and 80,000 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.

 

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