REG - Vast Resources PLC - Tender Update

Vast ResourcesAnnouncement

25/11/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251125:nRSY8174Ia&default-theme=true

RNS Number : 8174I  Vast Resources PLC  25 November 2025

25 November 2025

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

 

Tender Update

 

Vast Resources plc, the AIM quoted mining company, is pleased to announce that
further to its announcements of 17 and 18 November 2025, the tender of the
initial parcel totalling 126,677.50 carats containing a mix of quality gem,
low-grade gem and industrial grade stones concluded with promising results.

 

The Company sold 123,711.8 carats of the low-grade gem and industrial stones
at an average price of US$6.87 per carat in line with expectations, and 216.97
carats of a mix of higher-grade gem quality stones at an average price of
US$1,084.30 per carat.

 

A total of 123,928.8 carats were sold out of 126,677.50 representing a 98%
sale of the goods offered and the total revenue to Vast net of commissions is
approximately US$1.09 million which is expected to be received shortly.

 

The remaining unsold goods from the tender, comprising approximately 2,965.68
carats of higher-grade gem quality stones, are still being marketed and are
expected to be sold in due course.  It is anticipated that these unsold
stones will be marketed together with the as yet untendered stones, which
together are expected to deliver the majority of the value to shareholders and
will be sold in an orderly manner.

 

Vast CEO, Andrew Prelea, commented: "This first auction process paves the way
for future tenders for the higher quality stones, and we look forward to
providing further updates regarding those sales in due course."

 

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.

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  FURPKQBNDBDBFDB



            Copyright 2019 Regulatory News Service, all rights reserved