On a crisp morning in Southern Kazakhstan, the financial landscape buzzed with the news of Ferro-Alloy Resources Ltd (LON:FAR) achieving a significant milestone. The company announced the successful sale of all bonds issued under the US$5 million third tranche of the Kazakhstan exempt offer bond programme, earmarked for the development of the Balasausqandiq vanadium project. This venture not only marks a pivotal turn in the company’s growth trajectory but also sets a precedent for resource management and technological advancement in the region.
The Balasausqandiq vanadium deposit, nestled in the heart of Kazakhstan, is more than just a site of mineral extraction; it is a beacon of innovation and sustainability. Ferro-Alloy Resources has embarked on a journey to develop this deposit using a low-cost process that promises to revolutionize the industry. The recent sale of bonds, totaling a net proceed of US$4.73 million from the third tranche alone, is a testament to the confidence investors have in this pioneering project. With a cumulative total of US$13 million raised through the bond programme so far, the company is well on its way to realizing its vision.
Ferro-Alloy Resources Ltd (LON:FAR) is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya oblast of southern Kazakhstan. The ore at this deposit is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process.
