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LONDON - Vast Resources plc (AIM:VAST) announced Monday that its upcoming rough stone tender will include 126,677.50 carats of diamonds from various quality categories.
The tender, previously referenced in the company's October 21 announcement, will feature 12,591.77 carats of mixed-quality gem stones (including gem, cleavage and Rejection High category), 63,091.75 carats of low-grade gem (Rejection Low category) and 50,993.98 carats of industrial (Boart category) stones.
According to the company statement, higher quality stones will be sold in phases "to seek to maximise revenues and the total value of the diamonds for shareholders." Vast Resources indicated it would provide further market updates when appropriate.
Vast Resources is a United Kingdom AIM-quoted mining company with operations across Romania, Tajikistan, and Zimbabwe. The company's portfolio includes the Baita Plai Polymetallic Mine in Romania, which has a JORC compliant Reserve & Resource Report supporting an initial mine production life of approximately 3-4 years.
The company also owns the Manaila Polymetallic Mine in Romania, which it plans to bring back into production following a period of care and maintenance.
This information is based on a press release statement issued by Vast Resources.
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