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This paper is devoted to the results of an experimental study of plasma parameters of cathode spot burning on a liquid-metal cathode in vacuum at a low-current (less than 200 A) vacuum arc discharge. Picosecond laser interferometry and absorption shadow imaging were used in a single experiment. Plasma fragments as dense as 1026 m-3 were observed at discharge currents less than 50 A. Such fragments were never observed in arc discharges with currents higher than 100 A or in the breakdown stage of the discharge.