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(Sharecast News) - Vast Resources said in an update on Tuesday that it has scheduled a rough diamond tender in Dubai for the week of 17 November, marking the next step in its ongoing sale process.
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.
It said the timing reflected the first available slot following a temporary slowdown in diamond demand during the Diwali festival period.
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.
At 1504 BST, shares in Vast Resources were down 6.48% at 0.25p.
Reporting by Josh White for Sharecast.com.
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