Ferro-Alloy Resources Limited Change of Adviser (6341G)
25 Julio 2019 - 1:02AM
UK Regulatory
TIDMFAR
RNS Number : 6341G
Ferro-Alloy Resources Limited
25 July 2019
Ferro-Alloy Resources Limited / Index: LSE / Epic: FAR / Sector:
Natural Resources
25 July 2019
Ferro-Alloy Resources Limited
("Ferro-Alloy" or "the Company")
Appointment of Corporate Broker
Ferro-Alloy Resources Limited, the vanadium mining and
processing company with operations based in Southern Kazakhstan, is
pleased to announce that it has appointed Shore Capital
Stockbrokers Limited ("Shore Capital") to act as Corporate Broker
to the Company with immediate effect.
For further information, visit www.ferro-alloy.com or
contact:
Ferro-Alloy Resources Nick Bridgen (CEO) info@ferro-alloy.com
Limited
Shore Capital Jerry Keen / Toby
(Corporate Broker) Gibbs +44 (0)20 7408 4090
St Brides Partners
Limited
(Financial PR & IR Catherine Leftley
Adviser) / Gaby Jenner +44 (0)20 7236 1177
Further information 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 "Project"); and
(b) an existing vanadium concentrate processing operation (the "Existing Operation")
Balasausqandiq is a very large deposit, situated in
Kyzylordinskaya Oblast in Southern Kazakhstan. The ore contains
vanadium as the principal product, together with by-products of
carbon, molybdenum, uranium, rare earth metals, potassium, and
aluminium.
A reserve on the JORC 2012 basis has been estimated only the
first of five ore-bodies which amounts to 23 million tonnes, not
including the small amounts of near-surface oxidised material which
is in the Inferred resource category. The Reserves estimated on the
locally approved basis are estimated to be over 70m tonnes in
ore-bodies 1 to 5 but this does not include the full depth of
ore-bodies 2-5.
The ore at Balasausqandiq is sedimentary in origin and amenable
to a much lower cost treatment method compared with the more usual
titano-vanadiferous magnetite from which most of the world's
vanadium is produced, leading to far lower capital and operating
costs. The Company therefore expects to become the world's lowest
cost primary producer of vanadium.
There is an additional 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 low-grade concentrates
and is now in the process of being expanded and further adapted to
treat a wider variety of raw-materials.
The Company has already completed the first steps of a
development plan which is expected to result in annualised
production capacity increasing gradually to around 1,500 tonnes of
contained vanadium pentoxide. The development plan includes
upgrades to infrastructure, an extension to the existing factory
and the installation of equipment to increase the throughput and to
add the facilities to convert ammonium metavanadate (AMV) into
vanadium pentoxide.
The strategy of the Company is to develop both the Existing
Operation and the Project in parallel. Although they are located on
the same site and use some of the same infrastructure, they are
separate operations.
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.
END
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July 25, 2019 02:02 ET (06:02 GMT)
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