Ferro-Alloy Resources Limited (LON:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, has announced the launch of the second tranche of the Company’s exempt US$20 million offer bond programme valid until 31 July 2033, with a nominal value of US$5m.
· As previously announced on 27 July 2023, the Company launched a new exempt offer bond programme where all bonds issued under the Programme will be listed on the Astana International Exchange (“AIX”) in Kazakhstan.
· The first tranche of bonds (nominal value of US$3m) issued under the Programme have been materially sold (1,447 out of 1,500 units sold) and as a result the Company has launched a second tranche of bonds with a nominal value of US$5m.
· On 19 September 2023, the Company listed the Second Tranche issued under the Programme on the AIX.
· The proceeds from the sale of the Second Tranche will be used to accelerate the development of the Balasausqandiq project, including front-end engineering.