Back to previous section

Vast Resources raises £2m to strengthen balance sheet, repay debt

Vast Resources announced on Thursday that it has raised £2m through a share placing to strengthen its balance sheet, repay part of its debt, and advance preparations to restart operations at its Romanian mines.

  • Vast Resources
  • 23 October 2025 11:51:48
Vast Resources

Source: Sharecast

The AIM-traded mining company said it placed 1.11 billionn new ordinary shares at 0.18p each, with the transaction carried out by joint broker Axis Capital Markets.

It said the placing would complete in two tranches, with admission of the new shares to trading on AIM expected around 29 October and 6 November.

Proceeds would be used to repay $1m of debt owed to Alpha and Mercuria, securing extensions to their loans and enabling the company to access proceeds from the sale of diamonds to settle remaining obligations.

The funds would also support technical and operational due diligence at the Baita Plai and Manaila mines as Vast progressed new offtake financing and joint venture agreements.

Vast said the additional cash would bolster its position ahead of finalising annual accounts, as it awaited proceeds from the sale of a historic diamond parcel due to be tendered on 17 November.

Following completion of both tranches, Vast’s total issued share capital would increase to 4.99 billion ordinary shares.

At 1131 BST, shares in Vast Resources were down 21.46% at 0.21p.

Reporting by Josh White for Sharecast.com.

N/A

Isin: N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Bank of Scotland is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Logo Allfunds

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

FE fundinfo Logo

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

Refinitiv Logo

© 2025 Refinitiv, an LSEG business. All rights reserved.