Ferro Alloy Resources "very pleased" with production from small plant
London, UK
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July 19, 2023 10:57 AM Eastern Daylight Time
Ferro-Alloy Resources Ltd (LSE:FAR) chief executive Nick Bridgen speaks to Thomas Warner from Proactive after the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan announced the production results from the Group's existing operation for the first half of 2023.
Bridgen gives an overview of the results from the plant, saying that despite it being of secondary importance to the main project it "is capable of making good profits and we're very pleased to see it coming right." He expresses satisfaction with the plant's performance and highlighted a significant increase in vanadium production and tonnage processed. Looking ahead, the focus remains on completing the feasibility study, which he says accounts for 95% of the company's future value.
The concentrate supply, which had some issues in the first half, is expected to be resolved with new contracts and improved deliveries. Bridgen emphasises the upcoming technical improvement funded by the Kazakhstan science fund, enabling the production of high purity vanadium pentoxide and various vanadium oxides for batteries. He concludes by saying that Ferro-Alloy Resources anticipates a positive remainder of the year, with potential entry into the premium market for vanadium products.
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