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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ferro-alloy Resources Limited | LSE:FAR | London | Ordinary Share | GG00BGDYDZ69 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.30 | -4.80% | 5.95 | 6.00 | 6.50 | 6.25 | 6.25 | 6.25 | 76,500 | 16:35:07 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFAR
RNS Number : 0996S
Ferro-Alloy Resources Limited
01 November 2023
1 November 2023
Ferro-Alloy Resources Limited
("Ferro-Alloy" or "the Company")
Result of 2023 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 at the Annual General Meeting ("AGM") held on the 1 November 2023, all resolutions were duly passed.
No. Ordinary Resolutions For Against Withheld To receive and adopt the Company's Annual Report for the year ended 1 31 December 2022 179,159,063 7,300,000 - ========================================== ============ ========== ========== To re-elect Sir Michael Davis as 2 a director 186,449,948 - 9,115 ========================================== ============ ========== ========== To re-elect Nicholas Bridgen as a 3 director 181,601,118 3,670,400 1,187,545 ========================================== ============ ========== ========== To re-elect Andrey Kuznetsov as a 4 director 185,271,518 - 1,187,545 ========================================== ============ ========== ========== To re-elect Christopher Thomas as 5 a director 181,601,118 3,670,400 1,187,545 ========================================== ============ ========== ========== 6 To re-elect James Turian as a director 186,449,948 - 9,115 ========================================== ============ ========== ========== To re-elect Petrus Nienaber as a 7 director 185,271,518 - 1,187,545 ========================================== ============ ========== ========== To re-elect William Callewaert as 8 a director 186,449,948 - 9,115 ========================================== ============ ========== ========== To re-appoint Crowe U.K. LLP as the 9 Company's auditors 186,449,948 - 9,115 ========================================== ============ ========== ========== To authorise the directors to determine 10 the auditors' remuneration 186,449,948 - - ========================================== ============ ========== ========== That the Company is generally and unconditionally authorised to make market purchases of ordinary shares in the capital of the Company on the terms as more particularly detailed within resolution 11 as set out in 11 the notice convening the AGM 179,149,948 7,300,000 9,115 ========================================== ============ ========== ========== 12 That the directors are generally 179,149,948 7,300,000 9,115 and unconditionally authorised pursuant to Article 20 of the articles of incorporation of the Company to exercise all the powers of the Company to allot Relevant Securities and to grant rights to subscribe for or to convert any security into such Relevant Securities on the terms as more particularly detailed within resolution 12 as set out in the notice convening the AGM ========================================== ============ ========== ========== No. Special Resolution For Against Withheld ========================================== ============ ========== ========== 13 That the directors are empowered 179,149,948 7,300,000 9,115 pursuant to Article 21.8 of the Articles to allot Equity Securities on a non pre-emptive basis, on the terms as more particularly detailed within resolution 13 as set out in the notice convening the AGM ========================================== ============ ========== ==========
For further information, visit www.ferro-alloy.com or contact:
Ferro-Alloy Resources Nick Bridgen (CEO) info@ferro-alloy.com Limited / William Callewaert (CFO) Shore Capital Toby Gibbs/Lucy Bowden (Joint Corporate Broker) +44 207 408 4090 Liberum Capital Limited Scott Mathieson/Kane (Joint Corporate Broker) Collings +44 20 3100 2000 ------------------------ --------------------- St Brides Partners Limited (Financial PR & IR Catherine Leftley/Ana Adviser) Ribeiro +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% 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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(END) Dow Jones Newswires
November 01, 2023 13:08 ET (17:08 GMT)
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