14th Nov 2025 16:55
14 November 2025
Ferro-Alloy Resources Limited
("Ferro-Alloy" or "the Company")
Result of 2025 AGM
Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, is pleased to announce that at the Annual General Meeting ("AGM") held on the 14 November 2025, all resolutions were duly passed.
No. | Ordinary Resolutions | For | Against | Withheld |
1 | To receive and adopt the Company's Annual Report for the year ended 31 December 2024 | 280,233,422 | - | 909,427 |
2 | To re-elect Sir Michael Davis as a director | 280,208,973 | 22,549 | 911,327 |
3 | To re-elect Nicholas Bridgen as a director | 263,839,166 | 16,307,864 | 995,819 |
4 | To re-elect Andrey Kuznetsov as a director | 279,829,563 | 317,467 | 995,819 |
5 | To re-elect Christopher Thomas as a director | 263,844,058 | 16,302,972 | 995,819 |
6 | To re-elect James Turian as a director | 273,601,198 | 6,545,832 | 995,819 |
7 | To re-elect Petrus Nienaber as a director | 276,440,134 | 3,696,032 | 1,006,683 |
8 | To re-elect William Callewaert as a director | 279,829,563 | 317,467 | 995,819 |
9 | To re-appoint Crowe U.K. LLP as the Company's auditors | 280,219,862 | 13,560 | 909,427 |
10 | To authorise the directors to determine the auditors' remuneration | 280,219,862 | 22,060 | 900,927 |
11 | That the directors are generally and unconditionally authorised pursuant to Article 20 of the articles of incorporation of the Company to exercise all the powers of the Company to allot Relevant Securities and to grant rights to subscribe for or to convert any security into such Relevant Securities on the terms as more particularly detailed within resolution 11 as set out in the notice convening the AGM
| 269,115,865
| 11,016,565
| 1,010,419 |
No. | Special Resolution | For | Against | Withheld |
12 | That the directors are empowered pursuant to Article 21.8 of the Articles to allot Equity Securities on a non pre-emptive basis, on the terms as more particularly detailed within resolution 12 as set out in the notice convening the AGM | 268,879,973
| 11,252,457
| 1,010,419 |
ENDS
For further information, visit www.ferro-alloy.com or contact:
Ferro-Alloy Resources Limited | Nick Bridgen (CEO) / William Callewaert (CFO) |
|
Shore Capital (Joint Corporate Broker)
Panmure Liberum Limited (Joint Corporate Broker)
BlytheRay (Financial PR) | Toby Gibbs / Lucy Bowden
Scott Mathieson / John More
Tim Blythe / Megan Ray / Will Jones
| +44 207 408 4090
+44 20 3100 2000
+44 20 7138 3204 |
Notes to Editors
About Ferro-Alloy Resources Limited:
The Company's operations are all located at the Balasausqandiq deposit in Kyzylordinskoye Oblast in the South of Kazakhstan.
Balasausqandiq is a very large deposit, with vanadium as the principal product together with the CBS and several by-products. Owing to the nature of the ore, the capital and operating costs are very much lower than for other vanadium projects.
The most recent mineral resource estimate for ore-body one (of seven) provided an Indicated Mineral Resource of 32.9 million tonnes at a mean grade of 0.62% V2O5 equating to 203,634 contained tonnes of V2O5. In the system of reserve estimation used in Kazakhstan the resources are estimated to be over 70 million tonnes in ore-bodies 1 to 5, but this does not include the full depth of ore-bodies 2 to 5, or the remaining ore-bodies which remain substantially unexplored.
The grade of carbon in the deposit is over 8%. The carbon flows through to the tailings from where it is concentrated, in a simple low-cost operation, into a 40% carbon product, the CBS, that can be used in place of carbon black as a reinforcing filler in the making of rubber. A further CBS product has been identified based on the high-carbon but low-vanadium material within open-pit the waste material.
The Project will be developed in at least two phases, Phase 1 and Phase 2, with Phase 1 treating 1.65 million tonnes per year.
There is an existing concentrate processing operation at the site of the Balasausqandiq deposit. The production facilities were originally created from a 15,000 tonnes per year pilot plant, which was then expanded and adapted to recover vanadium, molybdenum and nickel from purchased concentrates. Alongside this operation, there is a well-equipped laboratory and highly skilled technical team, who have already developed the technology that is being built into the Feasibility Study and is further developing and optimising processes needed for future vanadium and carbon operations. The plant will operate only when profitable concentrates are available and, when not operating as a production facility, will operate on an expanded basis as an R&D centre.
Related Shares:
Ferro-alloy Re.