Ferro-Alloy Resources goes to discount on first day

Ferro-Alloy Resources (LON:FAR) is the first new mining company to float on the standard list this year and it has a dual listing on the Kazakhstan Stock Exchange. It is already generating revenues and the cash raised will help to increase production and generate some cash.

Balasausqandiq is different to other vanadium projects because it is a sedimentary deposit with no iron included so the grades do not have to be as high as most rival projects in order to be commercial.

Balasausqandiq is estimated to have more than 100 million tonnes of resource, but only limited work has been done with the feasibility including a figure of 24.3 million tonnes. That will last a long time even if phase 2 of the development is completed and production rises to 22,000 tonnes a year.

Vanadium price...

Previous articleRose Petroleum shares slide 7% after company update
Next articleTravis Perkins announces departure of CEO
Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.