REG - Ferro-Alloy Resrcs. - Grant of Share Options
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RNS Number : 1476H Ferro-Alloy Resources Limited 02 May 2025
2 May 2025
Ferro-Alloy Resources Limited
("Ferro-Alloy" or the "Group" or the "Company")
Grant of Share Options
Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer
of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, today
announces that it has granted options over 500,000 ordinary shares in the
Company ("Options") under the Company's share option scheme to both William
Callewaert, Chief Financial Officer of the Company, and Andrey Andreyevich
Kuznetsov, Deputy Director General of the Company's operating subsidiary, TOO
Firma Balausa, and part of the Group's senior management team.
The Options are exercisable on the third anniversary from the date of grant
("Exercise Date") and are exercisable for a period of two years commencing on
the Exercise Date. The Options have an exercise price of 6.65 pence being the
closing mid-market price of the Company's ordinary shares as quoted on the
main market of the London Stock Exchange on the last business day before the
date of grant (1 May 2025).
Name Options Granted Exercise Price Exercise Date Total options held post grant
William Callewaert 500,000 6.65p 2 May 2028 1,000,000
Andrey Andreyevich Kuznetsov 500,000 6.65p 2 May 2028 1,000,000
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
The notification below is made in accordance with the requirements of article
19 of MAR and provides further details, including as to awards granted to
persons discharging managerial responsibility, which has been updated
accordingly.
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name William Callewaert
2. Reason for the notification
a. Position/status Chief Financial Officer
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 Identification Ordinary Shares NPV
code
GG00BGDYDZ69
b. Nature of the transaction Grant of Share Options
c. Price(s) and volume(s)
Price Volume
6.65p 500,000
d. Aggregated information
- Aggregated volume 500,000
- Price 6.65 pence
e. Date of the transactions 2 May 2025
f. Place of the transactions Outside a trading venue
d.
Aggregated information
- Aggregated volume
- Price
500,000
6.65 pence
e.
Date of the transactions
2 May 2025
f.
Place of the transactions
Outside a trading venue
The notification below is made in accordance with the requirements of article
19 of MAR and provides further details, including as to awards granted to
persons discharging managerial responsibility, which has been updated
accordingly.
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Andrey Andreyevich Kuznetsov
2. Reason for the notification
a. Position/status Senior management team
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 Identification Ordinary Shares NPV
code
GG00BGDYDZ69
b. Nature of the transaction Grant of Share Options
c. Price(s) and volume(s)
Price Volume
6.65p 500,000
d. Aggregated information
- Aggregated volume 500,000
- Price 6.65 pence
e. Date of the transactions 2 May 2025
f. Place of the transactions Outside a trading venue
d.
Aggregated information
- Aggregated volume
- Price
500,000
6.65 pence
e.
Date of the transactions
2 May 2025
f.
Place of the transactions
Outside a trading venue
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 70m 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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