Update on Historic Parcel
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
7 May 2025
Vast Resources plc
(“Vast” or the “Company”)
Update on Historic Parcel
Vast Resources plc, the AIM quoted mining company, is pleased to announce that further to the announcement of 25 April 2025, regarding the successful release of the Historic Parcel, the Company is now in receipt of the final packing list post the Kimberly Process inspection.
The Company is pleased to report that the sorting process has revealed an additional quantity of stones in the sealed historic parcels, the existence of which was previously unknown to the board of directors of Vast (the “Board”) (the “Additional Parcel”). This Additional Parcel contains 6,055.35 carats of gem quality stones, which, together with the rest of the consignment, are currently in Dubai for final sorting in preparation for cleaning and further preparation for their sale.
The total quantity of diamonds included in the Historic Parcel is now estimated to be 135,139.47 carats, of which an aggregate 36,475.26 carats have already been identified to be gem quality.
The Company is in process of selecting the first stones for cleaning and estimates that initial results will be available in the coming weeks. The Board currently anticipates that the selling process will be conducted in a phased manner in order to maximise value for the Company and its shareholders.
We look forward to updating the market as progress continues.
**ENDS**
For further information, visit www.vastplc.com or please contact:
| Vast Resources plc Andrew Prelea (CEO) | www.vastplc.com +44 (0) 20 7846 0974 |
| Strand Hanson Limited – Nominated & Financial Adviser James Spinney / James Bellman | www.strandhanson.co.uk +44 (0) 20 7409 3494 |
| Shore Capital Stockbrokers Limited – Joint Broker Toby Gibbs / James Thomas (Corporate Advisory) | www.shorecapmarkets.co.uk +44 (0) 20 7408 4050 |
| Axis Capital Markets Limited – Joint Broker Richard Hutchinson | www.axcap247.com +44 (0) 20 3206 0320 |
| St Brides Partners Limited Susie Geliher / Charlotte Page / Will Turner | www.stbridespartners.co.uk +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.
ABOUT VAST RESOURCES PLC
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 producing 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.
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