London Stock Exchange welcomes Ferro-Alloy Resources Group to the Main Market

London Stock Exchange today welcomes Ferro-Alloy Resources Group (‘Ferro-Alloy’ or the ‘Company’), a Kazakhstan based vanadium production and development company, to celebrate the listing of the Company’s shares on the standard listing segment of the Main Market of the London Stock Exchange. The Company will trade under the TIDM FAR.L. Ferro-Alloy Resources have a listing on the Kazakhstan Stock Exchange.

On Admission, Ferro-Alloy will have a market capitalisation of £219 million, having raised £5.2 million from institutional investors at a price of 70 pence per placing share through its broker, Shard Capital.

Ferro-Alloy is developing the world-class Balasausquandiq Project (‘Balasausquandiq’ or ‘the Project’) in Southern Kazakhstan, which consists of a profitable vanadium processing plant and the high grade Balasausqandiq deposit, which has an initial locally estimated reserve of 71 million tonnes with significant exploration upside.

Ferro-Alloy Resources aims to expand production at its existing processing facility to boost cash flow, while developing its mining operations at Balasausqandiq and build a standalone processing plant with targeted production of 23,500 tonnes per annum of vanadium oxide. The unique geology, and subsequent processing route, means that the Project has the potential to be one of the lowest cost, highest margin vanadium projects in the world.

There has been a surge in demand for vanadium, driven by steel producers that utilise vanadium for its strengthening qualities and the emerging use of vanadium in clean energy storage. Vanadium Redox Flow Batteries are seen as the solution to large scale, long discharge, energy storage. Vanadium based batteries store large amounts of energy, have a long-life span, semi-infinite recharge cycles and do not degrade. This makes them superior and more cost effective than lithium-ion batteries. This demand dynamic has driven pricing from US$2.50/lb at the end of 2015 to recent prices of c. US$14/lb.

Nick Bridgen, CEO, commented, “The Balasausqandiq project is unique and we have the potential to be one of the world’s largest, lowest cost vanadium producers. With existing production and a defined development path to build a world class low capex mine and production facility, Ferro Alloy offers a fantastic opportunity to gain exposure to the growing vanadium market.”

To find out more about Ferro-Alloy Resources Limited visit: www.ferro-alloy.com

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
102.92
Listing/Admission to trading
28 Mar 2019
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