Q3 2026 Aprelevka Production Report

Vast Resources PLC

12 October 2026

 

12 October 2026

Vast Resources plc

(“Vast” or the “Company”)

Q3 2026 Aprelevka Production Report

Vast Resources plc (AIM: VAST), the mining company with production and development assets in Tajikistan and Romania, announces production results for the quarter ended 30 September 2026 (“Q3 2026”) from the Aprelevka Joint Venture (“Aprelevka JV”), in which the Company holds a 49% beneficial interest. Unless otherwise stated, the production figures within this announcement are stated on a 100% basis, of which the Company's attributable share is 49%.

OVERVIEW

• Kansai Tailings mined increased 44% quarter-on-quarter (“QoQ”) to 137,964 tonnes (Q2 2026: 96,120 tonnes)
• Ore mined increased 14% to 65,796 tonnes (Q2 2026: 57,948 tonnes)
• Throughput increased 21% to 207,789 tonnes milled (Q2 2026: 171,540 tonnes)
• Gold production increased 5% to 2,701 oz (Q2 2026: 2,580 oz)
• Silver production decreased 3% to 23,603 oz (Q2 2026: 24,242 oz)
• Average gold grade of ore mined increased 12% to 1.102 g/t (Q2 2026: 0.981 g/t), while average Kansai Tailings gold grade decreased 19% to 0.425 g/t (Q2 2026: 0.527 g/t)*
• Soviet Tailings pilot flotation plant advancing towards commissioning in Q4 2026
• Assaying scheduled for Q4 2026 following completion of the Q3 drilling programme (see RNS dated 15 July), with results to support a maiden Mineral Resource Estimate for the Soviet Tailings in accordance with the JORC Code (2012).
• Board and management review underway to align leadership structures with the Company’s enlarged operations and strategy.

* The lower Kansai Tailings grade reflects the planned processing of lower-grade material from an additional old tailings dam not previously considered by the Company as grade bearing. This old tailings dam is being emptied ahead of the planned commissioning of the Soviet Tailings pilot flotation plant in Q4 2026.

Andrew Prelea, Chief Executive Officer of Vast, commented:

“Aprelevka delivered improved operational performance in Q3, with higher throughput, stronger ore grades and increased gold production, despite the impact of processing lower-grade tailings during the period. Looking ahead, the improvements made to the processing plant provide a good platform for Q4, while at Soviet Tailings we are approaching an important stage, with the pilot flotation plant nearing commissioning and drilling for the maiden Mineral Resource Estimate now complete. Our focus is on maintaining this momentum as we advance all areas of the project.”

FURTHER DETAILS

Aprelevka JV

The Aprelevka JV operates across four gold mining areas along the Tien Shan Belt in Tajikistan: Aprelevka, Burgunda, Ikkizelon and Kyzylcheku. Ore from the four areas, together with material reprocessed from the Kansai Tailings, is processed through the Aprelevka processing plant to produce gold and silver. The Aprelevka JV also holds two Soviet-era tailings storage facilities, TSF1B and TSF2B (the “Soviet Tailings”), containing a non-JORC estimated 235,006 to 331,191 oz of gold and 65,052,536 to 88,948,512 oz silver as described in the Competent Persons Report published in the August 2026 Admission Document, which the Company intends to reprocess through the pilot flotation plant, as described below.

Gold produced at Aprelevka is sold to the National Bank of Tajikistan at prevailing spot prices, with sales taking place three times per month. Silver is principally sold on a quarterly basis to a Swiss refiner.

During Q3 2026, higher throughput and improved ore grades across all four mining areas supported increased gold production, partly offset by a lower Kansai Tailings grade resulting from the planned processing of lower-grade material as Kansai Tailings is emptied ahead of the planned commissioning of the Soviet Tailings pilot flotation plant in Q4 2026.

Table 1: Aprelevka JV production, Q3 2026 versus Q2 2026

Metric	Q2 2026	Q3 2026	QoQ change
Ore mined (tonnes)	57,948	65,796	+14%
Kansai Tailings mined (tonnes)	96,120	137,964	+44%
Throughput (tonnes milled)	171,540	207,789	+21%
Gold produced (oz)	2,580	2,701	+5%
Silver produced (oz)	24,242	23,603	-3%
Average ore gold grade (g/t)	0.981	1.102	+12%
Average Kansai Tailings gold grade (g/t)	0.527	0.425	-19%
Average ore silver grade (g/t)	21.761	21.190	-3%
Average Kansai Tailings silver grade (g/t)	17.554	16.980	-3%

Figures may not sum due to rounding. g/t = grams per tonne; oz = troy ounces.

The improvement in average ore grade during Q3 2026 reflected higher grades across all four mining areas, with the strongest increases at Kyzylcheku and Ikkizelon. Production also moved towards Kyzylcheku during the quarter, while ore mined at Aprelevka reduced. Initial prospecting works have commenced at Aprelevka to define new exploration areas. A new Expat General Manager of Mining has joined the Vast team and is now permanently based in Tajikistan. His sole purpose is to lead the team in developing mining optimisation, exploration of the existing mines and implementation modern mining practices.

Table 2: Ore and tailings mined and average gold grade by source, Q3 2026 versus Q2 2026

Source	Q2 tonnes	Q3 tonnes	Change	Q2 Au g/t	Q3 Au g/t	Change
Aprelevka	16,469	11,235	-32%	0.894	0.911	+2%
Burgunda	18,186	20,566	+13%	1.204	1.216	+1%
Ikkizelon	8,963	10,268	+15%	0.972	1.208	+24%
Kyzylcheku	14,329	23,728	+66%	0.805	1.048	+30%
Total ore	57,948	65,796	+14%	0.981	1.102	+12%
Kansai Tailings	96,120	137,964	+44%	0.527	0.425	-19%

Figures may not sum due to rounding.

Upgrades to the existing processing plant completed in early Q3 2026 supported higher throughput and, together with improved ore grades, contributed to increased gold production, partly offset by the lower Kansai Tailings grade. The Company expects these improvements to support higher gold production in Q4 2026 once the remaining low-grade material in Kansai Tailings has been processed. Silver production was broadly in line with Q2 2026.

Progress on the Soviet Tailings

Construction of the Soviet Tailings pilot flotation plant continued during the quarter, with electrical works, installation of cell motors, refurbishment of all 28 flotation cells, thickeners and plumbing now complete. New lighting and windows have also been installed, with roofing works nearing completion.

The principal works remaining ahead of the planned commissioning in Q4 2026 are completion of the tailings pipework, emptying of the existing tailings pit and delivery and installation of the remaining equipment. Fabrication of the outstanding equipment has been completed and is being loaded for transport to site in the third week of November.

The drilling programme of 152 holes (69 on TSF1B and 83 on TSF2B) described in the Admission Document to support a maiden JORC (2012) Mineral Resource Estimate for the Soviet Tailings has been completed. The Company had been awaiting the certification of a new independent international laboratory, the International Mineralogical Laboratory and Research Center LLC, located in Tajikistan to avoid delays in testing. The laboratory has now received its certification and is preparing the core samples for assay, which is scheduled to take place in Q4 2026. The Company has also engaged an internationally recognised mining consultancy to prepare an independent Mineral Resource Estimate, reported in accordance with the JORC Code (2012), for the Soviet Tailings.

Update on Board and Management

Reflecting the chance in the business since its acquisition of the Tajik operations in August 2026, the Company is reviewing both its board of directors ("Board") and management structures to ensure the business is best place to execute on its strategy and take advantage of opportunities in the future. It is expected that the Board will be reconstituted to include the skills and experience relevant to its plans and ambitions and that an executive committee ("ExCo") will be put in place to ensure effective decision making at an operational level across the Company's asset base. Further details will be announced in due course.

Technical Information

The production information in this announcement has been compiled from the Aprelevka JV’s production records and reviewed by Mr Joel Legodi, Process Superintendent and Chief Metallurgist at the Aprelevka JV. Mr Legodi holds a National Diploma in Engineering: Metallurgy from the Vaal University of Technology, South Africa, and has more than 20 years’ experience in mineral processing operations in South Africa, Zambia, the Democratic Republic of Congo and Burkina Faso. His experience spans gold, tin and platinum group metals processing, including plant metallurgy, process optimisation and plant commissioning.

Tonnes and grades are operational mine-call figures taken from production records; they are not Mineral Resource or Ore Reserve estimates and have not been prepared in accordance with the JORC Code (2012). The maiden Mineral Resource Estimate for the Soviet Tailings referred to above will be reported in accordance with the JORC Code (2012) when available.

**ENDS**

For further information, please visit the Company's website at www.vastplc.com or contact:

Vast Resources plc Andrew Prelea (CEO)	[phone]
Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman / Imogen Ellis	[phone]
Shore Capital Stockbrokers Limited - Joint Broker Toby Gibbs / James Thomas	[phone]
Axis Capital Markets Limited - Joint Broker Richard Hutchinson	[phone]
St Brides Partners Limited - Financial PR Isabel de Salis / Charlotte Page / Susie Geliher	[e-mail]

 

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. The person responsible for arranging the release of this announcement on behalf of the Company is Andrew Prelea, Chief Executive Officer of the Company.

 

About Vast Resources plc

Vast Resources plc (AIM: VAST) is a mining company with a portfolio of producing and development-stage gold, silver and polymetallic assets in Central Asia and Eastern Europe. Its principal producing asset is the Aprelevka gold and silver operation in northern Tajikistan, where Vast holds a 49% interest alongside the Government of Tajikistan and is focused on increasing production and improving operational performance. In Romania, Vast owns 100% of the Baita Plai Polymetallic Mine and Manaila-Carlibaba Project, where it is advancing plans to bring the assets into production.

Website	www.vastplc.com
X	https://x.com/vast_resources
LinkedIn	https://www.linkedin.com/company/vast-resources/

 

END