TIDMFAR
RNS Number : 0378G
Ferro-Alloy Resources Limited
10 November 2022
10 November 2022
Ferro-Alloy Resources Limited
("Ferro-Alloy" or "the Company")
Result 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 at the Annual
General Meeting ("AGM") held on 10 November 2022, 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 2021 205,304,748 12,284 52,454
=========================================== ============ ========== =========
To re-elect Sir Michael Davis as
2 a director 205,304,748 55,142 9,596
=========================================== ============ ========== =========
To re-elect Nicholas Bridgen as a
3 director 197,063,048 8,296,842 9,596
=========================================== ============ ========== =========
To re-elect Andrey Kuznetsov as a
4 director 201,632,265 3,725,542 11,679
=========================================== ============ ========== =========
To re-elect Christopher Thomas as
5 a director 196,840,365 8,517,442 11,679
=========================================== ============ ========== =========
6 To re-elect James Turian as a director 205,304,748 55,142 9,596
=========================================== ============ ========== =========
To re-elect Petrus Nienaber as a
7 director 205,304,748 55,142 9,596
=========================================== ============ ========== =========
To re-elect William Callewaert as
8 a director 205,302,665 55,142 11,679
=========================================== ============ ========== =========
9 To re-appoint Crowe U.K. LLP as auditors 205,304,748 12,284 52,454
=========================================== ============ ========== =========
10 To authorise the directors to determine 205,347,606 12,284 9,596
the auditors' remuneration
=========================================== ============ ========== =========
11 That the Company is generally and 198,045,523 7,314,367 9,596
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
the notice convening the AGM
=========================================== ============ ========== =========
12 That the directors are generally 198,004,748 7,335,142 9,596
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 198,002,665 7,357,225 9,596
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.
=========================================== ============ ========== =========
Copies of the Annual Report for the year ended 31 December 2021
are available on the Company's website.
ENDS
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/John More
(Joint Corporate Broker) +44 207 408 4090
Liberum Capital Limited Scott Mathieson/William
(Joint Corporate Broker) King +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 the 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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