Vast Resources creates technical services function to review next steps
The focus will be to establish a sustainable operational plan that will subsequently support ongoing technical studies aimed at unlocking the potential of the current asset base.
The group will also assess new potential opportunities in Romania, Tajikistan and Zimbabwe.
This development follows very encouraging initial indications of diamond quality following preliminary cleaning of a representative parcel of stones from Zimbabwe.
Initial diamond sales, by way of public or private tender in Dubai, are expected to commence in the coming weeks.
There will also be a comprehensive technical review of the Romanian assets focussing on the Baita Plai mine in Romania in the third quarter of this year, with the objective of establishing the optimal mining strategy. This plan will likely include the development a new drilling programme and mine plan designed to grow and increase the current resource and reserve base.
The technical review will also consider the opportunity to restart activities at the Manaila-Carlibaba copper mine in Romania during the second half of this year.
“Our recent success with the return of the Historic Parcel of diamonds has sparked a comprehensive review of our asset portfolio and our strategy for becoming a mid-tier production company,” said Andrew Prelea, chief executive of Vast.
“Our Romanian assets, specifically Baita Plai and Manaila-Carlibaba, hold significant value for the company. We are now working towards realising the potential of these assets through a comprehensive and diligent technical assessment of these assets, including the development of a sustainable mining plan at Baita Plai, and the opportunity of restarting mining activities at Manaila-Carlibaba.”
View from Vox
It’s been a stellar 2025 for Vast so far, as its share price has more than quadrupled following the recovery of a sizeable diamond parcel in Zimbabwe. This set the stage for a swathe of positive developments across the portfolio that has now culminated in this comprehensive review. Andrew Prelea’s aspiration to turn Vast into a mid-tier producer is in earnest, and this looks like stage one of the plan.
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