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(they may also of course team up with cutting companies as per the RNS but if they do they will almost certainly announce this as it will delay the sales, and I hope they do team up with cutters for any and all stones 5+ carats as this could increase their value 300-500%+)

Primary beneficiation images maybe, cut? Extremely unlikely.

Primary beneficiation does not mean cutting and polishing.

In the diamond industry, beneficiation is a broad term that refers to increasing the value of a raw (rough) diamond before sale. It generally includes various stages, but each country or company may define it slightly differently.

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Primary Beneficiation (what Vast refers to):

This typically involves:

Advanced cleaning (beyond basic boiling)

Sorting and categorisation

Inspection with magnification

Separation into saleable groups (gem vs. industrial)

Possibly light pre-processing (removal of surface residue, accurate weight & clarity assessment)

Andrew Prelea clearly stated in the interview:

> "We're going to do what we call a primary beneficiation, which is a very, very expensive and difficult task of cleaning the stones..."

He also explained the iron oxide coating is so thick it hides the stones’ real clarity and makes cutting dangerous without proper prep. So, their priority is removing the crust without damaging the stones, which requires skill and specific equipment (hence the expense).

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Cutting and Polishing (Secondary/Tertiary Beneficiation):

This comes after cleaning and grading. It involves:

Sawing and cleaving

Bruting

Polishing facets

Certification and retail prep

There is no indication Vast is cutting or polishing these diamonds themselves. More likely, the cleaned and sorted parcels will be sold rough via public or private tender, potentially to buyers who will polish them themselves.

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TLDR;

Primary beneficiation = expert cleaning and preparation, not cutting.

It's about revealing and presenting value before sale — especially crucial when the stones are heavily coated or misidentified.

Maybe this will help you work out the percentage of raise to be spent on beneficiation, using transcripts from the most recent interview days ago with AP;

Question from interviewer:

> “So tell us what you're up to, you've raised a significant amount of money — what's it for?”

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Andrew Prelea’s full response:

> “Well primarily it's — well, after so many years we've now got in our possession over 130,000 carats of diamonds which came from the alluvial site of the Marange diamond fields... Really what it's for is that you've got three ways of selling diamonds:

One is as-is, as most people do through tender or auction public or private. The second one is to do a proper cleaning of them — which has not been done before... A lot of that value is not extracted for the shareholder or the owner of the stones. And the third one is then taking it on to a further beneficiation, which then creates further value for shareholders.”

“We're going to do what we call a primary beneficiation, which is a very, very expensive and difficult task of cleaning the stones... It’s not a cheap exercise going through this and we wanted to make sure that we're sufficiently covered to be able to enhance the stones after so many years of waiting.”

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Interpretation:

This is clearly framing the raise as primarily motivated by the cost of the beneficiation process. He even says:

> “We had two choices — either we sell them in tranches and lose a lot of money in the first tranches, or we do it properly and we do it well… and raise money for this primary beneficiation.”

So while the RNS spreads the funds across four areas, the CEO directly told investors that the raise was required to fund beneficiation properly — and that selling unprocessed stones would have been a poor-value shortcut.

What part of this wording indicates a small percentage is for the stones to you?

The net cash raised from the Fundraise will be used for the primary beneficiation of the diamond parcels, which is expected to significantly enhance their value

That's the first sentence for usage of the cash. You think that means a small percentage? Id say at least 50% as the primary use of the funds.

There are over 25,000 stones. Do you think they'll be charging £1 a stone for primary beneficiation for some of the toughest natural diamonds in the world? 😂😂😂

Hit the market today, and look at that the price is 5% up? It should be criminal to be able to short shares when you're part of a placing. Short 100m shares at 0.5 knowing you have an agreement to buy them at 0.35 and will never have to purchase or even sell shares on the open market as you just transfer your shares to cover your shorts. No buy. No sell. Yet you did sell 100m into the market in the 0.5 range. It's a joke. Last few days we've been seeing 50-100 million shares transfers while the price doesn't move at all. Obvious that they're shorts closing their positions out via share transfer instead of having to buy them back. Wish we could prove this criminal behaviour. Oh wait we can! We just don't!

Sorry not an RNS daffy my man I'm talking about just some pictures on socials or the vast website from AP haha

Some large buys going through quietly today, very few sells. AP said pictures to come out in a few days so Friday should be plenty enough. Hopefully Friday 5pm will give use the weekend to digest and the word to spread - and for Martin to say they're clearly fakes 🤩

Should be out soon

Images today? Tomorrow? I hope they'll be of some nice fat stones!

Also looks like the admin has been taking out the trash on this board, good job admin 💪

Pushed the sell down to .35 to fill it too, they love pushing retail out to fill these ii level buys 🙃

AP stated they will release images of before / afters of diamonds following the beneficiation process - I hope there's some chunky diamonds in those images, even better if they're coloured!

If you don't like my posts that explain technical analysis chart patterns and news breakdowns and interpretations, but like crying on a messaging board, I'd re-evaluate what you think these boards are for 😂😂😂

I'll keep posting every day and try get back in at 0.1p boys!

17-Jun-25 11:13:18 0.387 25,000,000 Unknown* 96.75k

Another massive volume buy in one order, 100 grands worth. No wonder IG aren't allowing us plebs to buy. Just another risk of selling shares - you can't buy them back while the big boys continue to mop up shares!!

IG won't allow any buys and has suspended buying from the platform - only allowing sells.

Doesn't seem very fair that I can't buy any at these prices!!

Conservative figures on top of conservative figures still lead to £30-50m valuation. Imagine if it's more than that? It's it's extremely conservative upon conservative upon conservative figures - £30m would leave vast debt free, and with more cash than the company is currently worth, taking into account literally zero assets.

Comforting interview!

🔎 Crunching the Numbers – What Vast’s CEO Just Revealed Tells Us About Value 💎

In today’s interview, Vast’s CEO confirmed over 25,000 stones are now being beneficiated – cleaned, sorted, and assessed to extract maximum value. This is a key milestone, and the numbers now give us meaningful insight:

📌 136,000 carats have been recovered in total.

📌 Of these, 30,000 carats have so far been identified as gem-quality (~22%).

📌 The total number of stones mentioned today: 25,000+

Using basic averages, that’s 5.44 carats per stone – a very strong figure that suggests high potential per unit. Most raw stones on the market are far smaller.

👉 Assuming gem stones average just 1.5 to 2 carats each, we’re likely looking at 15,000–20,000 gem-quality stones already identified or currently being upgraded. It’s clear from the CEO’s focus that the team believes a significant portion of these crusted stones will be upgradable – and the iron oxide coating is what has historically hidden their true value.

And here’s the punchline:

💰 If even 50,000 carats (a conservative portion of the total parcel) reach beneficiation level and conservatively price at £600–£1,000 per carat, you’re looking at a £30–50 million asset.

That’s before we even account for:

The strategic shutdown of Baita Plai to conserve cash

The new expert board with mid-tier growth ambitions

The potential JV partner already flagged for later this year

And the fact that Strand Hanson (a top-tier advisor) greenlit this raise

They didn’t raise this money in desperation – they raised it to maximise the asset, with the confidence to do it properly instead of fire-selling rough stones for quick cash.

This is Vast with a plan, a runway, and now the means to back it up.

CEO Interview Reveals Major Clarity Behind Vast’s Strategy – Here’s What You Need to Know

Today’s video with Andrew Prelea just confirmed exactly what investors needed:

✅ £2.7m raise? Not for survival. For strategy.

Used to clean and beneficiate over 130,000 carats of Marange diamonds

These stones are uniquely crusted in iron oxide — you can’t even polish them without damage unless properly processed

Vast is choosing value over speed: no cheap bulk sale to cover costs — they're unlocking full market value

💎 25,000+ stones being treated with surgical care

Already started partial cleaning and will share before/after images soon

Sales begin within weeks, via staged releases to maximise price

This isn’t just speculative — it’s happening

🧠 Heavyweight technical team brought in

5–6 experts including 4 Competent Persons (JORC qualified)

Reviewing Romania and Tajikistan in full

Manaila re-opening could be fully funded by offtake partners, zero dilution

🛠️ BP mine paused – not scrapped

Being reviewed for long-term viability

Cutting unnecessary cash burn while diamond proceeds are monetised

🌍 Strategic depth unlocked

Tajikistan mines now producing 25–35kg gold + 300–400kg silver monthly

Vast aims to ramp this dramatically with untapped copper, lead, zinc and rare earth potential

📝 What’s Next?

Photos of beneficiated diamonds

Further confirmation of stone grades/values

Tender/auction schedules

Technical reviews for Romanian/Tajikistan expansions

📈 With dilution done, cash in the bank, a diamond sale just weeks away and a JV-backed reopening of a mine — Vast is now cleared for runway. The next few weeks could be massive.

VAST – Monday’s Price Action Was Anything but Normal

So… after a week of chaos, dilution panic, and nervous bag holders bracing for carnage, Vast opens the week with:

Massive volume trades

Zero meaningful price movement all day

And a green finish off the day’s lows

Let’s break this down:

1. Unusual Stability After a Placing

We had a placing at 0.35p, and by all logic, this should’ve sparked a price collapse on fear and retail exits. But instead:

The stock dipped at the open, filled orders, then stabilised

Despite hundreds of millions of shares due to hit the market, the price held up

Buy/Sell markers were nearly balanced, and MM behaviour was unusually controlled

2. Giant Trades All Day

Look at those trades:

34 million @ 0.389

10 million, 25 million, and 3.5 million all around 0.39-0.40

Multiple 1000k–500k blocks in both directions

A massive 100m trade went through silently at 11.50am

And somehow, the market digested this without a spike or dump

This suggests institutions and sophisticated traders were trading between each other – without hammering the price. This is not typical retail chop.

3. Possible Forward Settlements / Shorts?

Could these be shorts closing? Could they be shares settling from earlier forward-sold positions?

Yes, absolutely plausible. But what’s more interesting is that they're not suppressing the price anymore. We even saw a sharp uptick to 0.40+ on minimal volume before the MM spread widened again.

4. MMs Possibly Out of Ammo

The reason this is bullish: if all this volume is clearing out overhangs and absorbing forward trades from the placing, then...

> The placing has been digested The market is clean And any upcoming diamond-related news will hit a far leaner, primed market

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Final Thought

Still think “someone knows something” when you see 34 million go through quietly?

Still believe there’s “no interest” in the stock?

Still worried it’s going to collapse?

The market had its chance to kill the price. It didn’t.

Now we wait. Diamonds, JV news, Tajik gold output, debt clarity… all ahead.

And that spread tightening in the afternoon? That was your first clue.

Extremely interesting action going on here for a junior miner. Never seen a huge placing like that result in absolutely static slow movement before, with massive, massive trades going through not altering the price. Absolutely suggests that these were being shorted and their positions were being transferred and closed without buys and sells to close off their position.

Let's see what this week holds

16-Jun-25 08:05:53 0.36 25,000,000 Unknown* 90.00k

"Unknown" more MM games - price was 32 to sell 35 to buy, and oh look 25 million at 36, would have been nice to see that at 8:05 am wouldn't it?

II's have absolutely cleaned up today from the panic, absolutely massive trades all hidden at the time, and after it's all said and done then they'll show us. Glad they didn't shake mine 🤞

Very weird behaviour for a junior aim company to be attracting 10-50m trades on the day of release for a placing. Shorts closing from 50-40s knowing they can close their positions without buying a dime. Panic prices today were completely absorbed.

GLA.

It was a transfer - 35m shares in one move didn't nudge the price at all up or down, so it wasnt a buy or a sell - likely the placing shares closing their shorts AP handed them for free 👌

We're going to see some interesting things after close I'm betting