Editor’s Note
This article has been updated to include the full rationale for the auction’s timing.
Auction Details
The AIM-traded mining company said the auction, to be held with Trans Atlantic Gems Dubai, would feature more than 120,000 carats of rough stones.
Timing Rationale
It said the timing reflected the first available slot following a temporary slowdown in diamond demand during the Diwali festival period.
Results and Strategy
Results of the auction would be announced once available.
Vast reiterated that its strategy remained to participate directly and indirectly across the diamond value chain “where possible, in order to maximise returns for shareholders.”
The firm said it would provide further market updates as appropriate.
Share Price Movement
At 1504 BST, shares in Vast Resources were down 6.48% at 0.25p.