REG - Ferro-Alloy Rsrcs - Grant of Share Options
12/09/2023 07:00
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RNS Number : 0810M Ferro-Alloy Resources Limited 12 September 2023
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018.
12 September 2023
Ferro-Alloy Resources Limited ('FAR' or the 'Company' or the 'Group')
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 is has granted options over 250,000 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 Andreyovich
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 9.1p 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 (11 September 2023).
Name Options Granted Exercise Price Exercise Date Total options held post grant
William Callewaert 250,000 9.1p 12 September 2026 500,000
Andrey Andreyovich Kuznetsov 250,000 9.1p 12 September 2026 500,000
**ENDS**
For further information, visit www.ferro-alloy.com
(http://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)
Liberum Capital Limited Scott Mathieson/Kane Collings +44 20 3100 2000
(Joint Corporate Broker)
St Brides Partners Limited Catherine Leftley/Ana Ribeiro +44 207 236 1177
(Financial PR & IR Adviser)
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
9.1p 250,000
d. Aggregated information
- Aggregated volume 250,000
- Price 9.1 pence
e. Date of the transactions 12 September 2023
f. Place of the transactions Outside a trading venue
d.
Aggregated information
- Aggregated volume
- Price
250,000
9.1 pence
e.
Date of the transactions
12 September 2023
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 Andreyovich 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
9.1p 250,000
d. Aggregated information
- Aggregated volume 250,000
- Price 9.1 pence
e. Date of the transactions 12 September 2023
f. Place of the transactions Outside a trading venue
d.
Aggregated information
- Aggregated volume
- Price
250,000
9.1 pence
e.
Date of the transactions
12 September 2023
f.
Place of the transactions
Outside a trading venue
About Ferro-Alloy Resources Limited:
The Company's operations are all located at the Balasausqandiq deposit in
Kyzylordinskoye Oblast in the South of Kazakhstan. Currently the Company has
two main business activities:
a) the high grade Balasausqandiq vanadium project (the "Project"); and
b) an existing vanadium concentrate processing operation (the "Existing
Operation")
Balasausqandiq is a very large deposit, with vanadium as the principal product
together with several by-products. Owing to the nature of the ore, the capital
and operating costs of development 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%
V(2)O(5) equating to 203,364 contained tonnes of vanadium pentoxide
("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 Project will be developed in two stages, Stage 1 and Stage 2, treating 1m
tonnes per year and an additional 3m tonnes per year. Production will be some
5,600 tonnes of V(2)O(5) from Stage 1, rising to 22,400 tonnes V(2)O(5) after
Stage 2 is commissioned.
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.
The existing operation is located on the same site and uses some of the same
infrastructure as the Project, but is a separate operation which will continue
in parallel with the development and operation of the Project.
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