19 September 2024
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, is pleased to announce that the
2024 Annual General Meeting ("AGM") of the Company will be held
at 2.00 pm local time on 23 October 2024 at
the Old Government House Hotel, Ann's Place, St Peter Port,
Guernsey, GY1 2NU.
The Notice of AGM, which sets out the
arrangements for the meeting and how shareholders may vote, 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
(Joint Corporate
Broker)
Panmure Liberum Limited
(Joint Corporate Broker)
|
Toby Gibbs/Lucy Bowden
Scott Mathieson/John More
|
+44 207 408 4090
+44 20 3100 2000
|
|
St
Brides Partners Limited
(Financial PR & IR
Adviser)
|
Ana Ribeiro / Charlotte
Page
|
+44 207 236 1177
|
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%
V2O5 equating to 203,364 contained tonnes of
vanadium pentoxide ("V2O5"). 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
phases, Phase 1 and Phase 2, treating 1m tonnes per year and an
additional 3m tonnes per year. Production will be some 5,600 tonnes
of V2O5 from Phase 1, rising to 22,400 tonnes
V2O5 after Phase 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.