Missed the webinar? Here are Investing.com’s top 10 stock picks for 2026
LONDON - AIM-listed mining company Vast Resources plc (AIM:VRS) has provided additional details about its recent diamond tender process, according to a press release statement issued Monday.
The company clarified that the 123,711.8 carats of lower value diamonds sold at an average price of $6.87 per carat included 50,993.98 carats of industrial stones, 63,091.75 carats of rejection low stones, 8,211.71 carats of rejection high stones, 695.5 carats of cleavage stones, and 718.88 carats of low quality gem stones.
The remaining portion of the original 135,139.47 carat parcel, less approximately 2% boiling loss, consists of untendered gem quality stones.
Vast Resources noted that while "cleavage" and "rejection high" category stones were included in the previously announced 12,591.77 "mixed/higher quality" gems, these categories are inherently of lower value than high grade gems. This explains the difference in average sale price compared to the ’high grade’ stones which sold at an average price of $1,083 per carat.
The company emphasized that stone quality references are indicative only, and that sales value is the sole material metric it considers important.
According to the press release, the board was encouraged by this initial tender process, which demonstrates the company’s ability to market its diamonds, particularly high-value stones, in the future.
The announcement was a replacement for an earlier release issued Monday morning that contained a sentence requiring correction regarding the remaining parcel of untendered stones.
Vast Resources operates mines and projects in Romania, Tajikistan, and Zimbabwe, with its Romanian portfolio including the Baita Plai Polymetallic Mine and the Manaila Polymetallic Mine.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.