Ferro-Alloy Resources Limited Vision Blue Investment Completion & Board Changes (0617B)
07 Junio 2021 - 7:15AM
UK Regulatory
TIDMFAR
RNS Number : 0617B
Ferro-Alloy Resources Limited
07 June 2021
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.
7 June 2021
Ferro-Alloy Resources Limited ('the Company' or 'FAR')
Completion of Vision Blue Resources Initial Investment and Board
Changes
Further to the annoument of 1 June 2021, Ferro Alloy Resources
Limited (LSE: FAR), is pleased to announce the completion of the
Initial Investment by Vision Blue Resources.
With effect from today, Sir Mick Davis has joined the board of
the Company as Chairman and Mr. Peet Nienaber has assumed the role
of Non-Executive Director. Mr. Chris Thomas has also assumed the
role of Non-Executive Director.
The Company has now received the further investment of US$1.6m
in addition to the investment of US$1.5m already made, bringing the
total invested by Vision Blue and its coinvestors to date to
US$3.1m.
For further information visit www.ferro-alloy.com or
contact:
*ENDS*
Nick Bridgen, Chief Executive Officer info@ferro-alloy.com
Shore Capital (Corporate Broker)
Corporate Advisory: Toby Gibbs / Mark Percy / John More Tel: +44 (0)207 408 4090
Corporate Broking: Jerry Keen
VSA Capital Tel: +44 (0)203 005 5000
Andrew Monk / Simon Barton
St Brides Partners Limited (Financial PR & IR Adviser)
Catherine Leftley / Susie Geliher Tel: +44 (0)207 236 1177
Vision Blue Resources
Michael Oke/Andy Mills
info@vision-blue.com Tel: +44 (0) 207 321 0000
Mobile: +44 7834 368 299,
+44 7841 748 911
Capitalised terms in this announcement, unless otherwise
defined, have the meaning given to them in the announcements of 15
March 2021 and 1 June 2021.
About Ferro Alloy Resources Limited:
The Company's operations are all located at the Balasausqandiq
Deposit in Kyzylordinskaya Oblast in the South of Kazakhstan.
Currently the Company has two main business activities:
a) the high grade Balasausqandiq Vanadium Project (the "Balausa
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 numerous byproducts. 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.
About Vision Blue Resources
Vision Blue was founded in December 2020 by Sir Mick Davis to
create a portfolio of strategic and high returning investments in
clean energy related metal and mineral resource companies essential
to the clean energy transition..
Vision Blue will invest in undervalued and undercapitalised
mining and processing companies: in established mining
jurisdictions that are strategically important for customers; with
well defined, advanced, scalable assets and committed management;
that have low logistics, processing and technological risks with a
clear path to new or expanded production; that have direct exposure
to clean energy generation, storage and related infrastructure; and
that are implementing a best in class ESG framework
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAMZGGVZNGGMZM
(END) Dow Jones Newswires
June 07, 2021 08:15 ET (12:15 GMT)
Ferro-alloy Resources (LSE:FAR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Ferro-alloy Resources (LSE:FAR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024