Ferro-Alloy Resources Limited Notice of AGM (9831R)
11 November 2021 - 01:00AM
UK Regulatory
TIDMFAR
RNS Number : 9831R
Ferro-Alloy Resources Limited
10 November 2021
10 November 2021
Ferro-Alloy Resources Limited
("Ferro-Alloy" or "the Company")
Notice of AGM & Change of Auditor
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
11.00 a.m. on 3 December 2021 at The Old Government House, Hotel
Anne's Place, Guernsey, GY1 2NU.
Copies of the Annual Report for the year ended 31 December 2020
are available on the Company's website.
The Company also announces the appointment of Crowe U.K. LLP
('Crowe') as its new auditor replacing BDO LLP ('BDO') who have not
notified the Company of any reasons or matters connected with their
ceasing to hold office as auditors which they consider should be
brought to the attention of the members or creditors of the
Company.
Crowe will conduct the audit of the Company's financial
statements for the financial year to 31 December 2021. The
appointment of Crowe as auditor is subject to approval by
shareholders at the AGM.
ENDS
For further information, visit www.ferro-alloy.com or contact:
Ferro-Alloy Resources Nick Bridgen (CEO) info@ferro-alloy.com
Limited
+44 207 408 4090
Shore Capital Jerry Keen/Toby Gibbs
(Corporate Broker) +44 (0)203 005
VSA Capital Andrew Monk/Simon Barton 5000
St Brides Partners
Limited
(Financial PR & IR
Adviser) Catherine Leftley +44 207 236 1177
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, 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.
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 to 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 concentrates and expanded. Further
expansion is being undertaken which is expected to result in
annualised production capacity of around 1,500 tonnes of contained
vanadium pentoxide plus significant by-product molybdenum.
The strategy of the Company is to develop both the Project and
the Existing Operation 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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