Vast Resources (VAST ) has entered into an amendment agreement with Bay Square Pacific Ltd to extend the long stop date in respect of the acquisition of gold assets in Tajikistan from 31 March 2026 to 5 May 2026.
Due diligence is largely completed.
Vast now expects to be in a position to publish an admission document in April, following the anticipated formal confirmation by the Tajik government of organisational changes in Aprelevka in order to ensure a smooth transition after the transaction completes, and subject to completion of the associated placing.
Meanwhile, the current geopolitical climate in the Middle East has resulted in delays of certain of Vast’s diamond sales, which were originally scheduled to be completed in Dubai.
The company is in advanced discussions regarding alternative sales channels in Antwerp and expects to conclude these arrangements in the coming weeks.
Vast is also in discussions with A&T Investments SARL and Mercuria Energy Trading SA to seek to agree to an extension of the terms of their respective loans until 30 April 2026, subject to continued progress being made on the Tajik deal.
Vast intends to use the revenue from upcoming diamond sales, together with proceeds from the placing in relation to the acquisition, and proceeds from new offtake finance agreements, or potentially wider funding arrangements to repay the creditors in full.
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Vast continues to be active on many fronts, with some disruption resulting from the Middle East conflict. When and if all the pieces do fall into place, though, the company will be well set up for the foreseeable future, as cash from diamonds will be coming in, supporting the prospect of working up a major opportunity in Tajikistan that will underpin the company’s long-term prospects.