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Clear Progress on Diamond Beneficiation

The image shared by Vast on Twitter today offers a far more substantial look at the diamond parcel than what we saw in yesterday’s RNS. This isn’t just five stones on a white background – this is a proper batch of rough, semi-translucent stones, many with visible internal clarity and strong sizing (4–6ct each as confirmed by the company). A pen for scale confirms these aren’t micro samples – these are serious carat weights.

What’s encouraging is the volume and quality of what’s shown. This photo alone contains well over 100 stones, clearly sorted and photographed in good lighting – a likely step toward a proper valuation catalogue. Many of the stones exhibit clarity and colour potential, even at this stage (after phase one beneficiation), which reinforces what AP mentioned about unlocking hidden gem value previously misclassified as industrial.

This visual aligns much more with what long-term holders were expecting: proof of scale, progress, and method – not just a marketing image. And if this is a snapshot of what’s still to come, the broader parcel could be far more valuable than the market currently realises.

A very welcome update. Let’s hope this is just the start of a steady stream of visual evidence as the company works toward monetisation.

https://x.com/vast_resources/status/1945040041102688316

Part 2

4. This could be scaled into a standalone business model

If managed correctly, Vast could:

Establish itself as a specialist in Marange stone processing.

Secure low-cost diamond parcels that others cannot properly beneficiate.

Build a profitable processing division independent of its mining operations.

Explore licensing or JV opportunities with other firms or governments facing the same challenges.

This model creates the potential for:

Consistent cash flow.

Strategic partnerships.

Long-term value that exceeds the value of the historical parcel itself.

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Final thought:

This update should not be seen as routine. It suggests Vast may be positioning itself as the go-to player for unlocking the true value of diamonds others overlook. If this process is truly a first, and if it scales as indicated, it could create a niche where Vast becomes not just a mining company, but a technology-driven diamond solutions provider.

GLA.

P.S - 50M buy now showing on Google Finance at 4.30pm. not showing on LSE 👀

Hold tight to those shares!!!

Part 1

The latest interview with AP and the recent RNS seem to confirm what may be one of Vast's most valuable breakthroughs to date: a proprietary beneficiation process for Marange diamonds that could open up a completely new revenue stream, far beyond just the historical parcel.

Here’s why this is significant:

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1. This beneficiation method may be a world-first

In AP’s own words, the team, along with specialist chemists and consultants, has developed a new method of cleaning and preparing Marange diamonds. These stones are notorious for their multiple layers of metallic silicates and mineral coatings, which have historically made them difficult to sort, assess, or sell accurately.

AP stated:

> “...this is a unique opportunity... and this is the first time in history we’ve found a way to uncover that skin.”

If this is accurate, and if the method is novel, repeatable, and hard to replicate, then Vast may be able to patent or protect this process as a trade secret. This would give them a technical and commercial edge over other diamond companies dealing in Marange-origin stones.

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2. Previously, Marange parcels were sold with little visibility

Historically, rough diamond parcels from Marange have been sold with very little insight into their true contents. Many gem-quality stones were misclassified as “industrial” due to the heavy coatings that made them unidentifiable. Others were damaged or undervalued due to poor or incomplete cleaning.

AP confirmed:

> “...people buy a parcel of stones and they hope that maybe they’ve seen a gem... and then price accordingly.”

This means the market has been missing out on significant value due to the limitations of traditional cleaning and sorting methods.

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3. Vast’s breakthrough changes the economics entirely

Now that Vast has a process to safely and efficiently remove these outer coatings, reducing cleaning times from 30 hours to just 1 or 2 hours per 1,000 carats, the company is no longer reliant on third-party sorting or chance discoveries.

This gives Vast two major advantages:

They can identify and sort gems, near-gems, and industrial stones with greater accuracy.

They can unlock the hidden value from stones that others would discard or underprice.

This isn't just relevant to the historical parcel. It potentially allows Vast to:

Acquire undervalued Marange parcels at auction.

Use their internal process to assess and beneficiate them properly.

Generate significantly higher margins than competitors.

Hi Max / all

After APs interview answered all but one of my questions (values, estimates etc that they couldn't answer as commercially sensitive)

I have followed up my email to Susie to say the following, and I'm sure the questions in the interview aligning almost perfectly with my questions and also in the same order I asked them, I'm imagining Susie forwarded on to AP?

Anyway this was my follow up to Susie before she's had chance to reply to my original;

Hi Susie,

I hope you're well. I just wanted to follow up on my previous message following todays RNS and the images shared from the beneficiation process.

Since then, Andrew Prelea has provided a helpful interview offering some context, such as confirming that the images were more of a visual demonstration than a showcase of cleaned stones. That was very useful, and we appreciate the clarity.

In light of your previous message, where you mentioned the Company was preparing a full catalogue of images with explanatory notes to demonstrate the diamonds' true quality - I wondered if that catalogue is still being prepared, or whether the approach has shifted more toward releasing occasional visuals instead. As long-term shareholders, we're keen to understand what to expect.

Andrew also mentioned tenders are being arranged and could be just “weeks away,” which is encouraging. If possible, could you share whether the Company is likely to announce confirmed auction dates, partners, or volume breakdowns before or only after the tenders?

Thank you again for your time, and for keeping shareholders informed during this critical phase. It’s appreciated more than you know.

Kind regards,

Juan

This is the message I have sent to the COO - her disclaimer states the information contained in this communication from the sender is confidential - I'll of course respect that and update the board on the general theme of her response.

Good morning Susie,

I hope you're well.

I'm writing in regard to this morning’s RNS about progress on the historic diamond parcel. While it’s good to see some movement, I have to be honest - the content of the release raises more questions than it answers, particularly in light of your previous email.

You previously stated the Company was working on a full catalogue of images to reflect the true value of the parcel. Naturally, this led many of us to expect a detailed visual and descriptive breakdown - something far more comprehensive than what was shared today.

Instead, the RNS feels more aligned with Andrew’s earlier comment about “some images in a few days,” offering just a handful of photos of a relatively small sample (~500ct), with only five cleaned stones shown after months of supposed work.

With this in mind, could you please clarify the following:

1. Is this the full image catalogue you referenced previously, or is a more complete release still to come?

2. Why are we only seeing five cleaned diamonds at this stage, and what is the actual scale of the parcel being processed?

3. Where are we in the timeline for the tender itself? There was no mention of auction dates or schedules - leading to more uncertainty, is this still weeks or months away?

4. Is the Company able to provide any indicative figures around carat weight, gem quality, or expected commercial value at this point?

While I understand some information may remain commercially sensitive, the lack of clarity or timelines has left many shareholders disappointed. After all this time, a few pictures without context or real detail, expected values, and no auction timeframe, unfortunately fall short of the expectations set.

I would really appreciate any clarification you’re able to offer.

Kind regards,

Juan

For me asimple, it's the end quality of stage 2 cleaning that's the real winner here. those are 600-1000 dollar a carat stones, instead of 100 dollar a carat stones sold rough. That's the massive upside here, but the issues in my post below are the issue here. I've emailed the COO asking for an update and why this post didn't meet expectations set in previous correspondence with them.

Today’s RNS from Vast is... a bit of a strange one. After 2.5 months of silence following the diamond parcel update in early May, we finally got something, but it wasn’t the commercial news many were hoping for.

What’s good:

The diamond cleaning work does look excellent. The final image in the RNS - The clarity and quality of those stones is a big step up and shows proper effort, and is clearly a massive improvement on the status of where they would normally be sold at.

Vast is working with specialist consultants to refine and clean these unique eluvial stones. They’re clearly aiming to control more of the value chain, which is the right strategic approach if they want to maximise returns from this once-in-a-decade parcel.

What’s disappointing:

Still no mention of a sale date, valuation, or auction timetable. After months of build-up, all we’ve seen is progress pictures of about 500ct and only 5 fully cleaned gem-quality stones. That might just be a sample, but it looks slow.

The update focuses on “the process” rather than outcomes, and that’s after prior promises that photos would be shared “within days.” Expectations have clearly been mismanaged.

Unsurprisingly, the market didn’t respond well. Shares dropped 10% on lowish volume, not because the work was poor, but because there’s still no tangible financial news. After the SAR last week and £1.8m in warrants being used for historic costs, confidence is clearly fragile.

In short: The work looks extremely good, but sentiment will only turn when we get firm numbers and dates. The next update needs to confirm the full parcel size, auction timeline, or at least a clear sales window. Until then, the longer the silence drags on, the more pressure the share price will feel.

I'll be emailing the COO at St Brides and will update all when I can.

Also, very little shares available to buy - quoted .35 to buy 3m, so hopefully a bounce here will panic the sheep into bundling in

GLA

The good news is once news does land (if?) there are multiple other fronts which vast can announce on, propping up and blowing up the SP. Diamond sales, asset sales, JVs, government signings, offtake agreements etc - there are a bunch of things vast can be updating on in the next 6 months each of which can balloon the price on its own. Now imagine a scenario where we have multiple months of regular updates, agreements, signatures, etc etc.

Now imagine the Chiadzwa community diamond project gets signed out of the blue? Instant 10x and beyond. That's the main reason I'm not selling. All of the above would be great individually, but the diamond package being returned (when Chiadzwa community diamond project was 'days' away from signature years ago) is no coincidence imo

Gla

Oh yeah, you can buy a full 2 bed 80 sqm mod terrace up in Lancashire for 50k alone up here.. only issue is the cost for a stab proof vest 😬🤣

There’s definitely something significant happening beneath the surface at Vast that’s worth highlighting.

The appointment of a fully resourced, high-calibre technical board is the first time in years Vast has had the internal capability to conduct a comprehensive, asset-wide strategic review. Crucially, this isn’t just a project-by-project technical review – it’s a coordinated reassessment of all assets across Romania, Zimbabwe, and Tajikistan.

What’s especially interesting is that Brian Moritz is not only the Chairman of Vast Resources plc but is most likely Chair of this new technical review board (who else could be, more likely Brian with his experience than AP). That dual role would be important. It ensures direct oversight at both the operational and corporate governance level, meaning this isn’t just a box-ticking exercise – it’s likely part of a broader, strategic pivot.

This sort of full-spectrum asset review often precedes key decisions around JVs, farm-ins, or asset sales, especially where some of these assets might be more valuable under external operators. It can also lay the foundation for corporate restructuring or RTO-related events, particularly if there’s a need to unlock trapped value or reorganise the company around its most viable assets.

And remember, this comes right as Vast is:

Fully funded for diamond sales and primary beneficiation

Holding over 130,000 carats of stones (30,000+ already identified as gem quality)

Undergoing due diligence at Baita Plai, which could result in a JV or similar partnership

Re-opening discussions on Manaila, with a potential offtake partner willing to fund the mine

Continuing to expand operational influence in Tajikistan with producing mines and long-term royalty structures

Renewed faith and good will in Zimbabwe.

It begs the question – why now? Why pull together a senior-level technical board across multiple jurisdictions, all at once? The most logical answer: something larger is in motion. Whether that’s JV structuring, partial disposals, preparing assets for spin-outs, or gearing up for a corporate-level move – the pieces are lining up in a way that feels anything but routine.

In short, this is the first time in a long time that Vast is treating its assets like a portfolio ready to be optimised, not just a series of isolated operations. That’s the kind of shift long-term holders have been waiting for.

GLA - hope we hear something soon!!

Looking forward to the Kadoma / Vast Resources JV opportunities Brian 😉

News post just linked to vast an hour ago-

Brian Moritz, the current Chairman of Vast Resources PLC, has just been appointed as Chairman of Kadoma Mining PLC, a newly trading gold miner focused on Africa. Kadoma began trading last week on JP Jenkins and has been valued at a market capitalisation of £6.8 million, with a share price of 6p.

This is more than just a CV update. Moritz is a seasoned veteran in the mining space, having previously chaired African Platinum PLC (sold for £300 million to Impala Platinum) and Goldplat PLC. He also serves as a non-executive director at Keras Resources. His track record involves steering companies through exploration, development, and ultimately high-value exits or strategic repositioning.

So why does this matter for Vast?

1. Strategic Overlap: Kadoma is a London-based company with African mining interests. Vast has a re-emerging focus in Zimbabwe, where it maintains a presence and has been exploring renewed activity around its diamond assets and additional mining concessions. This overlapping geography and sector could present opportunities for collaboration, shared assets, or even future JV structures.

2. Leadership Signal: The fact that Moritz is actively taking a leading role in another African mining venture while chairing Vast may indicate increased coordination or a broader strategy in play. If this were a passive appointment, it might raise questions. But his reputation for active board leadership suggests he sees value or synergy between the two entities.

3. Asset Repositioning or M&A Potential: While this is speculative, the addition of a strategic review board at Vast, alongside Moritz's expanding network in African mining, does leave the door open to possibilities like asset restructuring, JV projects, or even parts of Vast’s portfolio being moved under other structures. We’ve already seen other AIM companies pivot or spin off assets into newly listed entities, and this appointment might signal that similar options are being explored.

4. Market Confidence in Sector: Kadoma’s early valuation is notable, especially when compared to Vast’s significantly lower market cap despite Vast holding far more mature and diversified assets across Romania, Zimbabwe, and Tajikistan. The market clearly sees value in early-stage African miners, which could support a reassessment of Vast’s own African portfolio.

In conclusion, while no formal link between Vast and Kadoma has been announced, this development is strategically interesting. The crossover of board leadership at this level is rarely accidental. For shareholders, it’s worth watching how Moritz balances these roles and whether further announcements begin to align the two companies more directly.

Come on own up, who just put half a house in here? -it was definitely a buy as I've been dummy buying and selling)

(Evidently I live in the north)

To confirm TP I also emailed and had a very similar response 👌

Crazy how Wsbn is launching on mere licencing news.. after having just done a placement at 66% discount to the share price (0.13p)

Yet vast has far far more than this, and the mcap is almost identical.

Mental. We just need those updates to get the ball rolling

I'm not quite sure what your point is lad, can you highlight something that I've said is wrong? I'm a 30 year old guy working in finance who's invested money into this company.. I'm not some oracle sent by the divines the enlighten the world on vast.. I help translate rns's to people who don't have a financial and legal background. If you think anything I'm saying is wrong or unfactual, please highlight it.

My name is literally from FRR frontera resources that invested in almost a decade ago, which turned out to be fraudulent and corrupt from the directors who basically stole from the company and it's now in the process of being liquidated after 7 years of court battles, so I've lost my entire investment there.. so I'm more than fully aware of companies on AIM and the risks involved.

But yeah do please educate me 😂

Cheers lads. It’s actually a pretty interesting RNS once you break it down. On the surface it looks like dilution, but once you understand how SARs work, it’s clear this is anything but.

Instead of demanding their deferred pay in cash (which Vast could’ve paid straight from the recent £2.7m raise and warrant cash-in), the team agreed to lock in potential reward based on a future rise in the share price, over a sustained period, not spike. That’s a clear sign of internal confidence.

Just to recap for anyone who hasn't seen it - The Grant Price of 0.142p is not pegged to the current price - it’s based on the VWAP the day after the diamond parcel RNS. And the payout they receive is only the difference between that price and the VWAP at the time of exercise, which could be a year or more away.

So unless the share price rises and stays up, there’s no benefit to the people who deferred their wages here. And with the 6-month VWAP moving slowly (currently still under 0.16), this really only pays out if Vast delivers serious progress - which aligns their interests with shareholders. Another sign of a longer-term mindset from the company.

Now for VAST to deliver the 6 RNS day that I dreamt about 😂

Interesting, they know somethings coming soon 😂😂😂😂

Shut up you absolute weapon. AP has never said anything like this, reported for your blatant stupidly, as always.

The main takeaway I want people to realise is that these SARs are a long term reward not an immediate payment, the 6 month VWAP was 0.148, just over a month ago. It'll be something closer to 0.17 right now. That means if exercised, the holders get the difference only, which would be 0.022p per share. You'd have to have some serious faith in the company to take that over your full wages - you need the 6 month VWAP to be 0.288p to just receive the payment you forfeit - and that means a sustained rise above this price for over 6 months.

Positive update, huge forward looking sentiment!