Tender Update
Vast Resources plc has successfully concluded the initial tender of 126,677.50 carats, selling 123,928.8 carats for approximately US$1.09 million net of commissions. The sale included 123,711.8 carats of lower-grade stones at an average of US$6.87 per carat and 216.97 carats of higher-grade stones at an average of US$1,084.30 per carat. The remaining 2,965.68 carats of higher-grade stones are still being marketed and are expected to be sold along with untendered stones, which are anticipated to deliver the majority of shareholder value.
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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.
For further information, please visit the Company's website at www.vastplc.com or contact:
| Vast Resources plc Andrew Prelea (CEO) | +44 (0) 20 7846 0974 |
| Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman | +44 (0) 207 409 3494 |
| Shore Capital Stockbrokers Limited - Joint Broker Toby Gibbs / James Thomas (Corporate Advisory) | +44 (0) 20 7408 4050 |
| Axis Capital Markets Limited - Joint Broker Richard Hutchinson | +44 (0) 20 3206 0320 |
| St Brides Partners Limited Susie Geliher | http://www.stbridespartners.co.uk/ +44 (0) 20 7236 1177 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.