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Ferro-Alloy ResourcesAnnouncement

30/11/2023 07:00

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RNS Number : 1232V  Ferro-Alloy Resources Limited  30 November 2023

 

30 November 2023

 

Ferro-Alloy Resources Limited

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

 

Total Voting Rights

 

Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer
of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, announces
that the issued share capital of the Company as at the date of this
announcement comprises 483,222,238 ordinary shares, with none held in
treasury, and therefore, the total number of ordinary shares in the Company
with voting rights is 483,222,238.

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                     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)

 

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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