Ferro-alloy Resources Share Discussion Threads

[the stigologist] 18/3/2021 11:38

Just recorded a great video blog with #FAR which
@VSACapital
will release later - even more bullish than I expected and if you watch you will understand - once short term profits taken - looks like 78p next level - this is such a game changer

[losses] 18/3/2021 09:34

Seems fine.. refresh the page.

[easwarareddy] 18/3/2021 08:57

Hm live price 23 yet advfn frozen at 22 and showing down 8x percent when not.

[jailbird] 18/3/2021 08:48

Ok Senn Sorry This update has been the most informative and clear . Have been waiting 2 years to read something like that ... well done to the new Chairman Read it again today .

[senn1] 18/3/2021 07:49

Jail bird

Just wait a month or so then mail Mick Davis with your questions. Sir Mick to you.

You sold so stop the subtitle deramping all day long dude it's boring.

ATB

[jailbird] 18/3/2021 07:27

Also I guess the additional $10m raised from VRB will be used to pay , just thinking aloud upgraded BFS ( will cost more than originally planned now )Working capital which includes wages for the larger BoD . Gives them wiggle room in case of any delays . Sure Covid still has some challenges Pay back the bonds

[jailbird] 18/3/2021 07:23

CyberYes you are correct , I missed this paragraph. So 6-9 months before 150t can start to kick in Looking further ahead, the Company is planning to procure an electric arc furnace which can double production capacity again. This furnace has been designed, contracts agreed and will take some six months to build once the order is placed. This furnace will be used to produce ferro-vanadium directly from raw-material concentrates without first producing vanadium pentoxide, and it will also be able to produce by-product ferro-nickel, utilising the nickel content of our raw-materials which is currently sold at very low prices as a low-grade concentrate.

[pandemic21] 17/3/2021 23:59

I told you all.. NB is a liar and incompetent as a CEO.

Watch and see the downfall of the man! Ha Ha Ha

[cyberbub] 17/3/2021 23:40

There was a decent update on the BFS progress in the first RNS on Monday. No completion date though. We just have to let them get on with it. It won't be long in the scheme of things!

[senn1] 17/3/2021 23:33

Jailbird

If you listen he says final trench in Sept then says that 2 month after BFS so July time

a happy days here massive value coming within 18 months target £3 2023

[cyberbub] 17/3/2021 21:03

JB you're getting mixed up about the 80t!

The production update released on Monday said that they had *in 2020* increased production capacity at the small plant to 80t per day (actual production was less than this in Q4 for various reasons).

They are *still* planning with the new money to increase production capacity to 150t per day! NB confirmed it in the Proactive interview when he said that they will be getting $10M p.a. cashflow from the small plant - that's the 150t/day level of cashflow.

[cyberbub] 17/3/2021 21:01

Yes I don't think the BFS date is very clear either. I have emailed NB asking for a new target date for the BFS but he hasn't replied yet. I expect that it will be issued in Q3 sometime also - if it's earlier then it will be a nice surprise :-)

But the CPR is quite detailed, and I don't think that Mike Davis or NB will be sitting on their hands meanwhile. It should be perfectly possible to get a 'heads of terms' lending agreement with bank(s) for the Phase 1 debt funding based on the CPR, and then refine/confirm it after the BFS is published. I would hope that we have a full funding package by Q4 at latest, ready to break ground before Xmas.

Remember Q1 is almost over already!

[jailbird] 17/3/2021 21:01

Oh but plant is now only going run at 80t per month and not the 150tAll changed from we were told before

[jailbird] 17/3/2021 20:59

Bit miffed here . Now all along NB said he needed up to $5m to bring the plant up to 150t per month , power line and furnace and BFSAlready raised what approx $2.5m from equity and bonds So now he says he needs another $12.6m So from $5m , he will now have raised $15m in total ....so why do we need another $10m more ? -- Proceeds of the total funding package will be used to: o Complete the expansion of the existing, cashflow generating, processing facilitieso Complete the Bankable Feasibility Study ("FS") on the Company's large scale, low cost Balasausqandiq Vanadium Project ("Balausa Project")Total funding package of up to US$12.6m at a subscription price of 9 pence per share (the "Issue Price") comprises:o An initial investment in two stages of up to US$3.1m by VBR, a company led by Sir Mick Davis, and the Co-Investors including Tony Trahar, former CEO of Anglo American plc (the "Initial Investment")o Further investment rights granted to VBR of up to US$9.5m at the Issue Price (the "Further Investment Rights")-- Transaction structure provides a pathway to VBR to acquire 21.29% of FAR for U$11.5m of the total funding package -- Proceeds of the total funding package will be used to: o Complete the expansion of the existing, cashflow generating, processing facilitieso Complete the Bankable Feasibility Study ("FS") on the Company's large scale, low cost Balasausqandiq Vanadium Project ("Balausa Project")

[jailbird] 17/3/2021 20:49

Not clear Senn to be honest But probably sometime in Q3

[senn1] 17/3/2021 20:23

If you listen he says it's due in around 4 months just 2 months before Sept final take up option ect

[cyberbub] 17/3/2021 19:18

Which interview was that Senn? I've seen the one below but there's no specific mention of July or May.https://youtu.be/whD5nOHyQV0

[senn1] 17/3/2021 18:11

Jailbird

BFS is due Early July see proactive interview yesterday

[rmart] 17/3/2021 16:48

Guys, your next flying machine could very well be CRCL. dyor etc but in the vanadium business as well as other projects. Silly low market cap.

[jailbird] 17/3/2021 15:37

Link that please I doubt this can happen this fast .12-18 months it normal cases Depends how much has already been done .From his updates before , it seems little

[cyberbub] 17/3/2021 15:29

ZB I didn't notice that point about May for the BFS, nice one!

[cyberbub] 17/3/2021 14:52

As with any project like this, the 4 key risks are:TechnicalFinancialPoliticalExecutionThe Technical risk was already low. The original project team have developed their plans over a decade. They've created processing flowsheets and patented techniques to extract maximum value from the ore. The ore itself is amazingly accessible as direct outcropping or shallow open pit = very low risk.The Financial risk is, after Monday's announcement, now essentially gone. The level of dilution is known. The company have already got early acceptance from the Kaz Development Bank for a debt package. This should now just be a formality after the BFS is published.The Political risk in Kaz is higher than some countries, there is undoubtedly a level of corruption. However I understand that this is falling. In any case the original project team/BOD are well connected in the country, and Mike Davis' contacts will definitely help to keep things running smoothly! And don't forget we already have the Mining Licence for Phase 1, and a tax holiday for several years.The Execution risk is always there, anything can go wrong building a mine. However with a simple outcropping deposit and all the infrastructure on the doorstep, and now a super credible team from VBR providing guidance, IMO surely Execution risk also has to be pretty low?!In summary: for anyone willing to hold for a couple of years, IMO this is a low risk / high reward opportunity!NAI DYOR etc

[zb27] 17/3/2021 14:46

On the interview from 2 days ago, when asked the question, Nick Bridgen clearly said BFS will be done by May!

[cyberbub] 17/3/2021 14:14

There should be a lot of newsflow upcoming now. By the summer I'm personally expecting to be at 50p as a bare minimum, potentially substantially more.NAI