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Update on Historic Parcel
GlobeNewswire·2025-05-07 06:00

Core Viewpoint - Vast Resources plc has successfully released a Historic Parcel of diamonds, revealing additional gem-quality stones, which enhances the company's asset value and prepares for future sales [2][3][4]. Company Update - The final packing list has been received following the Kimberly Process inspection, confirming the release of the Historic Parcel [2]. - An Additional Parcel containing 6,055.35 carats of gem-quality stones was discovered, increasing the total estimated quantity of diamonds in the Historic Parcel to 135,139.47 carats, with 36,475.26 carats identified as gem quality [3][4]. - The company is currently sorting the diamonds in Dubai and plans to clean and prepare them for sale, with initial results expected in the coming weeks [4]. Sales Strategy - The Board anticipates a phased selling process to maximize value for the company and its shareholders [4]. - The company looks forward to providing further updates as progress continues [5]. Company Profile - Vast Resources plc is an AIM quoted mining company with operations in Romania, Tajikistan, and Zimbabwe, focusing on advancing high-quality projects and recommencing production at previously operating mines [8]. - The Romanian portfolio includes a 100% interest in the Baita Plai Polymetallic Mine, which has a JORC compliant Reserve & Resource Report supporting an initial production life of approximately 3-4 years [9]. - The company is also working on bringing the Manaila Polymetallic Mine back into production and has secured an Extended Exploitation Licence for further resource examination [10]. - In Tajikistan, Vast has a joint venture for the Takob Mine, providing a 12.25% royalty on sales, and is contracted to manage the Aprelevka gold mines, aiming to increase production to historical peak levels [12][13].