REG - Vast Resources PLC - Update on Proposed Acquisition & Loan Facilities

Vast ResourcesAnnouncement

12/02/2026 10:45

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RNS Number : 7876S  Vast Resources PLC  12 February 2026

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR
THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED OR SENT TO OR
FROM ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR
REGULATIONS.

 

This announcement does not constitute a prospectus or offering memorandum or
offer in respect of any securities and should not be considered as a
recommendation by the Company, its affiliates, directors, officers, employees,
agents, representatives or advisers to acquire an interest in the Company. The
announcement does not constitute or form part of any offer or invitation to
sell or issue or any solicitation of any offer to purchase or subscribe for
any securities in any jurisdiction, nor shall it (or any part of it) or the
fact of its distribution, form the basis of or be relied upon in connection
with, or act as any inducement to enter into, any contract or commitment or
engage in any investment activity whatsoever relating to any securities. The
issue of this announcement shall not be taken as any form of commitment on the
part of the Company to proceed with any transaction.

 

Defined terms in this announcement shall have the same meaning as defined in
the Company's announcement of 22 December 2025 (RNS: 5312M), unless otherwise
defined herein.

 

12 February 2026

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

 

Update on Proposed Acquisition of Gulf International Minerals Limited and

Extension of Loan Facilities

 

Vast Resources plc announces that, further to the proposed Acquisition
announced on 22 December 2025, it has entered into an amendment agreement with
Bay Square Pacific Ltd to extend the long stop date in respect of the SPA from
13 February 2026 to 31 March 2026 ("Longstop Date Extension").

 

Loan Facility Update

Further to the announcement of 30 January 2026, Vast confirms that A&T
Investments SARL and Mercuria Energy Trading SA have agreed to an extension of
their respective terms until 31 March 2026, subject to continued progress
being made on the Proposed Transaction. The Company intends to use the revenue
from upcoming diamond sales, together with proceeds from the Placing in
relation to the Acquisition, and proceeds from new offtake finance agreements
and / or wider funding arrangements, to repay the Creditors in full ("Loan
Facility Extensions").

 

Transaction Update

The Company continues to progress the Proposed Transaction, and whilst there
can be no guarantee such transaction will complete, the Board is confident
that both the Longstop Date Extension and the Loan Facility Extensions will
support the Company's efforts to complete the Proposed Transaction as soon as
possible.

 

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 / Imogen Ellis

 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

 

 

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 announcement is not for publication or distribution in or into the United
States of America.  This announcement is not an offer of securities for sale
into the United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States, except pursuant to an
applicable exemption from registration. No public offering of securities is
being made in the United States.

 

 

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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