Ferro-Alloy Resources ltd (LON:FAR) CEO Nick Bridgen joins DirectorsTalk to discuss a subscription agreement for up to US$12.6m with Vision Blue Resources. Nick explains what this means for the company, the funding structure, what attracted Sir Mick, what he brings to the table, offtake rights, the operations update, demand for vanadium and what can we expect to see from FAR in the short term now this strategic investment has been secured.
Ferro-Alloy Resources Ltd 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. It is planned that output will be increased in stages to reach 22,400 tonnes of vanadium pentoxide per year, mostly in the form of ferro-vanadium.
