On August 19, 2026, Vast Resources plc, an AIM-quoted mining and resource development company, completed its reverse takeover of Gulf International Minerals Limited and the re-admission of its enlarged ordinary share capital to trading on AIM. Through the transaction, Vast Resources plc acquired an indirect 49% interest in Aprelevka, a producing gold and silver operation in Tajikistan comprising four gold mines, a central processing plant and associated tailings assets.
The cross-border transaction combined a public M&A process with multiple equity and debt financing workstreams. It was accompanied by a placing and subscription raising approximately £7.5 million, a retail offer that brought total gross equity proceeds to approximately £7.8 million, a share consolidation and the completion of a US$10 million term loan facility from Glencore. The transaction expanded Vast Resources plc’s mining portfolio through an interest in an operating precious-metals asset while securing financing and facilitating the admission of its enlarged share capital to AIM.
Fasken advised Vast Resources plc with a team led by Guy Winter and Malgorzata Janiec, and included Lucinda Patrick-Patel, Stephen Vincelli and Benjamin Stein (Paralegal), with financing support from Tom Eldridge, Danuta de Vries and Melody Li.
Jurisdiction
- England and Wales
