Tender Update
Summary by AI BETAClose X
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 or contact:
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Vast Resources plc Andrew Prelea (CEO) |
+44 (0) 20 7846 0974
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Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman |
+44 (0) 207 409 3494
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Shore Capital Stockbrokers Limited - Joint Broker Toby Gibbs / James Thomas (Corporate Advisory) |
+44 (0) 20 7408 4050 |
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Axis Capital Markets Limited - Joint Broker Richard Hutchinson |
+44 (0) 20 3206 0320 |
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St Brides Partners Limited Susie Geliher |
http://www.stbridespartners.co.uk/ +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.
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