REG - Ferro-Alloy Resrcs. - Appointment of Lead Financial Adviser

Ferro-Alloy ResourcesAnnouncement

Mon 07:00

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RNS Number : 8501N  Ferro-Alloy Resources Limited  23 June 2025

23 June 2025

Ferro-Alloy Resources Limited

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

 

Appointment of Lead Financial Adviser

 

Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer
of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, is
pleased to announce that it has appointed Northcott Capital Limited
("Northcott"), in partnership with Oval Advisory Limited ("Oval"), as lead
financial adviser with respect to the financing of Phase 1 of the
Balasausqandiq Project.

 

Northcott is an independent financial adviser operating exclusively in the
natural resources sector, comprising investment bankers, senior risk
management professionals, geologists, mining engineers and financial modellers
that have collectively raised over US$15 billion for clients operating across
40 countries, including Kazakhstan.

 

Oval is an independent group based in London, delivering strategic, technical
and financing advisory services to producers and consumers of raw materials.
Oval has long-standing access to the raw materials sector and potential
funding partners, including traditional banking relationships and alternative
providers of capital, as well as a deep knowledge of, and a transactional
track record in, key mining jurisdictions.

 

 

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

"The appointment of Northcott and Oval as lead financial adviser for the
financing of Phase 1 of the Balasausqandiq Project is an important milestone
as we progress towards construction. Their combined wealth of expertise and
experience across the natural resources sector, and in Kazakhstan as a
jurisdiction, will greatly benefit the Company as we look to advance these
important financing arrangements."

 

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                  Toby Gibbs / Lucy Bowden                       +44 207 408 4090

 (Joint Corporate Broker)

 Panmure Liberum Limited        Scott Mathieson / John More                    +44 20 3100 2000

 (Joint Corporate Broker)

 BlytheRay (Financial PR)       Tim Blythe / Megan Ray / Will Jones            +44 20 7138 3204

 

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 ("V(2)O(5)") equating to 203,364 contained tonnes of
V(2)O(5). 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.

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