Ferro-Alloy Resources Limited Notice of AGM (8561A)
October 02 2020 - 2:00AM
UK Regulatory
TIDMFAR
RNS Number : 8561A
Ferro-Alloy Resources Limited
02 October 2020
2 October 2020
Ferro-Alloy Resources Limited
("Ferro-Alloy" or "the Company")
Notice of AGM
Ferro-Alloy Resources Limited (LSE:FAR), the vanadium mining and
processing company with operations based in Southern Kazakhstan
announces that the Company's Notice of Annual General Meeting
("AGM") has been posted to shareholders and is available on the
Company's website www.ferro-alloy.com. The AGM will be held at
6.00pm on 30 October 2020 at St. Pierre Park Hotel, Rohais, St.
Peter Port, Guernsey, GY1 1FD.
Under the States of Guernsey's current regulations and guidance
on self-isolation on arrival in Guernsey, it may not be possible
for shareholders who are not resident in Guernsey to attend the AGM
in person. The directors therefore strongly encourage shareholders
to vote on the resolutions being proposed at the AGM by completing
a proxy form appointing the Chairman of the AGM as your proxy, and
not to plan to attend the AGM in person.
Copies of the Annual Report for the year ended 31 December 2019
are available on the Company's website.
*ENDS*
For further information, visit www.ferro-alloy.com or
contact:
Ferro-Alloy Resources Limited
Nick Bridgen, Chief Executive Officer info@ferro-alloy.com
Shore Capital (Broker)
Corporate Advisory: Toby Gibbs / Mark Percy / John More Tel: +44 (0)207 408 4090
Corporate Broking: Jerry Keen
VSA Capital (Financial Adviser) Tel: +44 (0)203 005 5000
Andrew Monk / Simon Barton
St Brides Partners Limited (Financial PR & IR Adviser)
Catherine Leftley / Megan Dennison Tel: +44 (0)207 236 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 profitable vanadium concentrate processing operation (the "Existing Operation")
Balasausqandiq is a very large deposit, with vanadium as the
principal product, together with by-products of carbon, molybdenum,
uranium, rare earth metals, potassium, and aluminium. Owing the
nature of the ore, the capital and operating costs of development
are very much lower than for other 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 2-5.
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 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 for the existing operation 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 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.
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END
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