Shares in Vast Resources PLC (AIM: VAST) jumped 14% in early trading on Wednesday after the company announced it had uncovered more high-quality diamonds than previously identified in its long-anticipated Historic Parcel.
Following a post-inspection packing list issued under the Kimberley Process, Vast revealed that an additional 6,055 carats of gem-quality stones had been identified during the sorting process—stones that had not been recorded before.
As a result, the total size of the Historic Parcel has increased to 135,139 carats, with 36,475 carats now confirmed as gem quality.
Vast Resources Prepares Dubai Diamond Sale After Uncovering Extra High-Quality Stones
The company has confirmed that its Historic Parcel of diamonds is currently in Dubai, where the consignment is undergoing final sorting and cleaning in preparation for sale.
The company said it will publish initial results in the coming weeks and plans to sell the diamonds in phases to maximise value.
This latest update follows the long-awaited release of the parcel last month, after years of legal and procedural delays. The recent identification of an additional 6,055 carats of gem-quality stones was described by Vast as a material development.
The company said it expects to provide further updates as preparations for the sale continue.
