Ferro-Alloy Resrcs. - Issue of Equity

Ferro-Alloy Resources

05/11/2025 07:00

RNS Number : 2011G

Ferro-Alloy Resources Limited

05 November 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (INCLUDING AS IT FORMS PART OF THE LAWS OF ENGLAND AND WALES BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

 

5 November 2025

Ferro-Alloy Resources Limited

("Ferro-Alloy", the "Group" or the "Company")

 

Issue of Equity

 

Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan (the "Project"), is pleased to announce that it has issued a total of 20,638,879 ordinary shares of nil par value in the capital of the Company ("New Shares"), raising gross proceeds of £1,238,333, having received share subscriptions from investors including the Company's strategic shareholder Vision Blue Resources Limited ("VBR") and certain of the Company's directors. The New Shares are being issued under existing shareholder authority granted at the Company's 2024 Annual General Meeting held on 23 October 2024.

 

Commenting, Nick Bridgen, CEO of Ferro-Alloy Resources, said:

"This small equity raise, supported by our key shareholders, will provide the Company with funds while we continue to engage with strategic investors to develop the Project."

 

Issue of equity

The Company has issued a total of 20,638,879 ordinary shares of nil par value in the capital of the Company, raising gross proceeds of £1,238,333.

 

Of the New Shares issued, 17,977,081 shares have been issued in respect of subscriptions received from investors, including the Company's strategic shareholder VBR, for proceeds of £1,078,625. Additionally, 2,661,798 New Shares have been issued to certain of the Company's directors, for proceeds of £159,708.

 

The New Shares are being issued at 6p per share representing a 21.1% discount to the Company's closing mid-market share price as at 4 November 2025. The New Shares are being issued under existing shareholder authority granted at the Company's 2024 Annual General Meeting held on 23 October 2024.

 

Material related party transaction

Participation by Nicholas Bridgen, Andrey Kuznetsov, Christopher Thomas, James Turian and VBR in the share issue constitutes a material related party transaction pursuant to the Disclosure, Guidance and Transparency Rules. The Independent Directors have considered the terms of the transaction and concluded they are fair and reasonable insofar as shareholders are concerned (VBR is a person closely associated with the Company's Chairman, Sir Mick Davis.)

The beneficial interest in the issued share capital of the Company of those Company directors following the issue of the Fee Shares will be as follows:

·    Nicholas Bridgen: 62,438,854 Ordinary Shares, representing 11.76% of the issued share capital of the Company (having subscribed for 1,133,387 New Shares for £68,004)

·    Andrey Kuznetsov: 69,718,767 Ordinary Shares, representing 13.13% of the issued share capital of the Company (having subscribed for 618,101 New Shares for £37,086)

·    Christopher Thomas: 7,795,908 Ordinary Shares, representing 1.47% of the issued share capital of the Company (having subscribed for 455,155 New Shares for £27,309)

·    James Turian: 1,339,063 Ordinary Shares, representing 0.25% of the issued share capital of the Company (having subscribed for 455,155 New Shares for £27,309)

·    Having subscribed for 4,643,748 Cash Shares, VBR will hold 119,465,531 Ordinary Shares, representing 22.5% of the issued share capital of the Company.

 

Admission

 

Applications have been made to the Financial Conduct Authority for the New Shares to be admitted to the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on its Main Market for listed securities ("Admission"). It is anticipated that Admission will become effective, and that dealings in the New Shares will commence at or around 8.00 a.m. BST on 11 November 2025.

 

Total voting rights

 

Following Admission of the New Shares, the Company's issued ordinary share capital will comprise 530,949,882 Ordinary Shares, with none held in treasury, and therefore, the total number of Ordinary Shares in the Company with voting rights will be 530,949,882. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the applicable legal and regulatory requirements.

 

 

ENDS

 

 

For further information, visit www.ferro-alloy.com or contact:

 

Ferro-Alloy Resources Limited
Nick Bridgen (CEO) / William Callewaert (CFO)
info@ferro-alloy.com
Shore Capital
(Joint Corporate Broker)
Panmure Liberum Limited
(Joint Corporate Broker)
BlytheRay(Financial PR)
Toby Gibbs / Lucy Bowden
Scott Mathieson / John More
Tim Blythe / Megan Ray / Will Jones
+44 207 408 4090
+44 20 3100 2000
+44 20 7138 3204
ferro-alloy@blytheray.com

 

Notes to Editors

About Ferro-Alloy Resources Limited:

The Company's operations are all located at the Balasausqandiq deposit in Kyzylordinskoye Oblast in the South of Kazakhstan.

Balasausqandiq is a very large deposit, with vanadium as the principal product together with the carbon black substitute ("CBS") and several by-products. Owing to the nature of the ore, the capital and operating costs are very much lower than for other vanadium projects.    

The most recent mineral resource estimate for ore-body one (of seven) provided an Indicated Mineral Resource of 32.9 million tonnes at a mean grade of 0.62% vanadium pentoxide ("V2O5") equating to 203,364 contained tonnes of V2O5. In the system of reserve estimation used in Kazakhstan the reserves are estimated to be over 70 million tonnes in ore-bodies 1 to 5, but this does not include the full depth of ore-bodies 2 to 5, or the remaining ore-bodies which remain substantially unexplored. 

The grade of carbon in the deposit is over 8%. The carbon flows through to the tailings from where it is concentrated, in a simple low-cost operation, into a 40% carbon product, the CBS, that can be used in place of carbon black as a reinforcing filler in the making of rubber.

The Project will be developed in two phases, Phase 1 and Phase 2, with Phase 1 treating 1.65 million tonnes per year.

There is an existing concentrate processing operation at the site of the Balasausqandiq deposit. The production facilities were originally created from a 15,000 tonnes per year pilot plant, which was then expanded and adapted to recover vanadium, molybdenum and nickel from purchased concentrates.  Alongside this operation, there is a well-equipped laboratory and highly skilled technical team, who have already developed the technology that is being built into the feasibility study and is further developing and optimising processes needed for future vanadium and carbon operations. The plant will operate only when profitable concentrates are available and, when not operating as a production facility, will operate on an expanded basis as an R&D centre.

 

 

 

The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further details.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Vision Blue Resources Limited
2
Reason for the notification
a)
Position/status
Vision Blue Resources Limited is a PCA of Ferro-Alloy Resources Limited's Chairman, Sir Mick Davis, who is a person discharging managerial responsibilities
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
FERRO-ALLOY RESOURCES LIMITED
b)
LEI
2138003T5CF6U9W7Z780
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Ordinary Shares
Identification code
GG00BGDYDZ69
b)
Nature of the transaction
Share subscription
c)
Price(s) and volume(s)
Price(s)
Volume(s)
6p
4,643,748
d)
Aggregated information
- Aggregated volume
N/A Single transaction
- Price
e)
Date of the transaction
5 November 2025
f)
Place of the transaction
London Stock Exchange

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Nicholas Bridgen
2
Reason for the notification
a)
Position/status
Executive Director of Ferro-Alloy Resources Limited
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
FERRO-ALLOY RESOURCES LIMITED
b)
LEI
2138003T5CF6U9W7Z780
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Ordinary Shares
Identification code
GG00BGDYDZ69
b)
Nature of the transaction
Shares received in lieu of fees / salary
c)
Price(s) and volume(s)
Price(s)
Volume(s)
6p
1,133,387
d)
Aggregated information
- Aggregated volume
N/A Single transaction
- Price
e)
Date of the transaction
5 November 2025
f)
Place of the transaction
London Stock Exchange

 

 

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Andrey Kuznetsov
2
Reason for the notification
a)
Position/status
Executive Director of Ferro-Alloy Resources Limited
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
FERRO-ALLOY RESOURCES LIMITED
b)
LEI
2138003T5CF6U9W7Z780
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Ordinary Shares
Identification code
GG00BGDYDZ69
b)
Nature of the transaction
Shares received in lieu of fees / salary
c)
Price(s) and volume(s)
Price(s)
Volume(s)
6p
618,101
d)
Aggregated information
- Aggregated volume
N/A Single transaction
- Price
e)
Date of the transaction
5 November 2025
f)
Place of the transaction
London Stock Exchange

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Christopher Thomas
2
Reason for the notification
a)
Position/status
Non-Executive Director of Ferro-Alloy Resources Limited
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
FERRO-ALLOY RESOURCES LIMITED
b)
LEI
2138003T5CF6U9W7Z780
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Ordinary Shares
Identification code
GG00BGDYDZ69
b)
Nature of the transaction
Shares received in lieu of fees / salary
c)
Price(s) and volume(s)
Price(s)
Volume(s)
6p
455,155
d)
Aggregated information
- Aggregated volume
N/A Single transaction
- Price
e)
Date of the transaction
5 November 2025
f)
Place of the transaction
London Stock Exchange

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
James Turian
2
Reason for the notification
a)
Position/status
Non-Executive Director of Ferro-Alloy Resources Limited
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
FERRO-ALLOY RESOURCES LIMITED
b)
LEI
2138003T5CF6U9W7Z780
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Ordinary Shares
Identification code
GG00BGDYDZ69
b)
Nature of the transaction
Shares received in lieu of fees / salary
c)
Price(s) and volume(s)
Price(s)
Volume(s)
6p
455,155
d)
Aggregated information
- Aggregated volume
N/A Single transaction
- Price
e)
Date of the transaction
5 November 2025
f)
Place of the transaction
London Stock Exchange

 

 

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