Shares in Vast Resources PLC (AIM:VAST) rose 14% in morning trading on Wednesday after the company revealed it had uncovered more high-quality diamonds than previously expected in its long-awaited Historic Parcel.
Following a post-inspection packing list issued under the Kimberley Process, Vast said the sorting process had identified an additional 6,055 carats of gem-quality stones that had not been previously recorded.
The total size of the Historic Parcel now stands at 135,139 carats, with 36,475 carats confirmed as gem quality.
The consignment is currently in Dubai, undergoing final sorting and cleaning ahead of sale. Vast said it will release initial results in the coming weeks and plans to sell the stones in phases to maximise returns.
The update follows the release of the parcel last month after years of legal and procedural delays.
The company described the discovery of extra high-quality stones as a material development and said it expects to deliver further updates as preparations progress.
The stock was changing hands for 0.49p.