REG - Ferro-Alloy Rsrcs - Notice of AGM

Ferro-Alloy ResourcesAnnouncement

13/10/2022 07:00

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RNS Number : 6754C  Ferro-Alloy Resources Limited  13 October 2022

 

13 October 2022

Ferro-Alloy Resources Limited

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

 

Notice of AGM

 

Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer
of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, announces
that the  Annual General Meeting ("AGM") of the Company will be held at 2.00
pm local time on 10 November 2022 at The Old Government House Hotel, St Ann's
Place, Guernsey, GY1 2NU.

The Notice of AGM, which sets out the arrangements for the meeting and how
shareholders may vote and ask questions has been sent in hard copy to the
registered shareholders of the Company and is available on the Company's
website: www.ferro-alloy.com

 

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/John More                           +44 207 408 4090

 (Joint Corporate Broker)

 Liberum Capital Limited           Scott Mathieson/William King                   +44 20 3100 2000

 (Joint Corporate Broker)
 St Brides Partners Limited        Catherine Leftley/Ana Ribeiro                  +44 207 236 1177

 (Financial PR & IR Adviser)

 

 

About Ferro-Alloy Resources Limited:

The Company's operations are all located at the Balasausqandiq deposit in the
Kyzylordinskaya 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.

A reserve on the JORC 2012 basis has been estimated only for the first
ore-body (of five) which amounts to 23 million tonnes, not including the small
amounts of near-surface oxidised material which is in the Inferred resource
category. 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.

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 adapted to treat
concentrates and expanded. Further expansion is being undertaken which is
expected to result in annualised production capacity of around 1,500 tonnes of
contained vanadium pentoxide plus significant by-product molybdenum.

The strategy of the Company is to develop both the Project and the Existing
Operation in parallel. Although they are located on the same site and use some
of the same infrastructure, they are separate operations.

 

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