Thats a great RNS1 Dec 2025 07:51
Tender Update
Vast Resources plc, the AIM quoted mining company, wishes to provide the following further information in relation to the diamond tender process announced on 25 November 2025.
The 123,711.8 carats of lower value gem and industrial stones sold at an average price of US$6.87 per carat included:
50,993.98 carats of industrial stones;63,091.75 carats of rejection low stones8,211.71 carats of rejection high stones.695.5 carats of cleavage stones; and718.88 carats of low quality gem stones;
Leaving a remaining parcel of gem-quality stones totalling approximately 135,139.47 carats, less an estimated 2% boiling loss, which were not included in the tender.
It is noted that whilst the “cleavage” and “rejection high” category stones were included within the 12,591.77 “mixed / higher quality” gems announced on 17 November 2025, these categories are inherently of lower value than high grade gems, as indicated by the difference in average sale price as compared with the ‘high grade’ stones which sold at an average price of US$1,083 per carat and it is also noted that the stone categories as set out in the Company’s announcement of 18 November 2025 are determined by the auction house through which the tender was conducted and not by the Company.
The Company also takes this opportunity to state that references to the quality of stones and are indicative only. The sole material metric by which Vast sets any store is the sales value as stones are disposed of.
The Board was encouraged by this initial tender process which paves the way for future such tenders and demonstrates the Company’s ability to market the diamonds, and in particular, its high value stones, going forward.