Vast Resources plc (LSE:VAST) has responded to shareholder questions regarding the diamond parcel previously reported at more than 135,000 carats. The company confirmed that the total carat weight has not changed; instead, part of the parcel has been upgraded into higher-quality categories following reassessment. A tender auction is currently in progress for 126,677 carats, with the balance retained for future sale. While the upcoming diamond revenues are expected to be meaningful, Vast reiterated that additional financing will still be required to fully repay its secured debt and emphasised that its debt-repayment strategy was never dependent solely on diamond proceeds.
The company’s outlook remains heavily constrained by ongoing financial pressures — including persistent losses and negative equity — which weigh significantly on overall performance. Nonetheless, recent corporate developments and some supportive technical indicators offer a degree of counterbalance, hinting at potential improvements in strategic positioning. Valuation concerns persist due to the company’s negative profitability metrics.
More about Vast Resources
Vast Resources plc is a UK-listed mining company with operations spanning Romania, Tajikistan, and Zimbabwe. Its portfolio includes the Baita Plai Polymetallic Mine in Romania, the Aprelevka gold mines in Tajikistan, and diamond operations in Zimbabwe. The company also benefits from joint venture interests that generate revenue from non-ferrous concentrate sales.
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