Vast Resources completes reverse takeover of Gulf International Minerals

Vast Resources plc has returned to trading on the AIM market following a reverse takeover of Gulf International Minerals Ltd. The transaction included a £7.8 million fundraise and a US$10 million debt facility provided by Glencore.

As part of the deal, the sellers of Gulf International Minerals now hold 80.2% of the enlarged company. This acquisition grants Vast Resources a 49% interest in the Aprelevka joint venture in northern Tajikistan. The joint venture, which operates four gold mines, a processing plant, and two tailings deposits, reported US$8.5 million in pre-tax profit on revenues of US$36.9 million for 2025.

Law firm Bird & Bird advised Gulf International Minerals on the transaction, which resulted in an enlarged group market capitalization of £102.9 million.