Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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May 2023
Ferro-Alloy Resources Limited
("Ferro-Alloy" or the "Group" or the "Company")
Full Updated Ore-Body 1 Mineral Resource Estimate
Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, is pleased to announce the full results of the updated mineral resource estimate ("MRE") from SRK Consulting Ltd ("SRK") prepared in accordance with the terms and guidelines of the Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves ("JORC" or the "JORC Code") for Ore-Body 1 ("OB1") at the Balasausqandiq deposit.
MRE Highlights Include:
· An Indicated Mineral Resource of 32.9 million tonnes for OB1, at a mean grade of 0.62% V2O5, reported at a marginal cut-off grade of 0.4% V2O5 - equating to 203,364 contained tonnes of vanadium pentoxide ("V2O5")
· An increase of 8.6 million tonnes (35.4%) of mineral resource and an increase of 38,058 tonnes (23%) of contained V2O5 by comparison with the estimate contained in the Company's 2018 Competent Persons Report
· The results of the previously reported infill drilling and trenching programmes completed during 2021/22 have been successful in converting 100% of the Resources to Indicated for the OB1 deposit. No Measured or Inferred Resource are stated
· A total of 75 diamond core holes and 88 trenches were used to define the Resource (a reduction of drill section spacing to 250 metres from the original 500 metres increased confidence)
· Confirmation that there are reasonable prospects for eventual economic extraction by constraining the Mineral Resources to an optimised open pit shell (50 degree slopes and a revenue factor of 1) using a selling price for 98% V2O5 flake of USD9.82 /lb
Commenting on the MRE, Nick Bridgen, CEO of Ferro-Alloy Resources said:
"We are delighted with the results of this MRE for OB1 which has not only upgraded the classification of all the resources to the Indicated category, but increased the contained V2O5 at OB1 by 23%. Exploration of OB2, 3 and 4 has been completed and the mineral resource estimate for those ore-bodies is expected later this year.
We look forward to publishing the results of the feasibility study for Stage 1 of the Balasausqandiq project, expected to be completed in the final quarter of 2023, with the feasibility study for Stage 2 to follow in 2024."
Director Share Purchase
Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, is pleased to announce it has been informed that on 2 May 2023, Nicholas Bridgen, CEO, purchased 6,400,000 ordinary shares in the Company at a price of 10.15p per ordinary share. Following this purchase Mr Bridgen has a beneficial interest of 59,472,133 shares representing 13.22% of the issued share capital of the Company.
I'd guess that too, but could be completely wrong. We'll have to see if we get a correction RNS.
Must be.. 10% of the company.
Maybe out by an order of magnitude and 640,000?..
That's how I read it, must be a typo?
Am I seeing that right?
Approx £640,000. That’s some vote of confidence…
Good question I wonder what Sir Mick Davis answer to that would be ?
2 extra placings to build a plant, that, and an investor base that has lost confidence in the, behind the scenes, management to deliver the main project without, even further, substantial dilution which the plant was (ironically) built to avoid. Vanadium price is o.k. Not sure about doldrums, progress is still being made & we have been promised a favorable wind here, but operations which don't produce free cashflow and with needs of financing in the current rate environment are generally seen as un investable, or trading vehicles.
Seeing as we are in a global interest rate raising cycle which moves the cost of capital considerably higher, where risky ventures are less likely to get funding and a demand destructive recession is likely next (why commodity dependant nations are constricting supply), you have to ask yourself why you would invest in a pre-fesability company which wants to mine a commodity not in short supply and which is highly cyclical with economic booms and busts.
Team FAR investors, is it the price of vanadium that’s holding down the share price? Are all vanadium miners in the doldrums too?
Vision Blue Resources Completes US$650m Fundraising
London 18 April 2023: Vision Blue Resources (“VBR” or “Vision Blue”) announces that it has raised over
US$650 million from investors seeking exposure to VBR’s strategy of supporting companies that will
help drive the global transition to clean energy. Following strong support from specialist mining,
private and large institutional investors, the proceeds were above VBR’s US$500m target.
Since its launch in 2021, VBR has continued to expand its portfolio to five strategic investments in
companies involved in graphite, vanadium, silicon metal, tin and rare earths. Each of these
commodities benefits from rapidly growing demand from end markets including electric vehicles, grid
scale energy storage, wind and solar energy infrastructure, and electronic devices.
Vision Blue’s investment strategy is to secure significant minority stakes in companies with well
defined, advanced and scalable assets, and committed management teams.
The VBR team works closely with its investee companies to accelerate growth by providing capital,
management support, access to public and private finance, technical and operating support, expertise
in building a world-class ESG framework, as well as delivery of a value realisation strategy.
Sir Mick Davis said:
“Since our first investment in early 2021, we have seen a growing realisation amongst governments,
investors, industry and others that the world is facing a major shortfall in the supply of metals and
minerals needed to enable the transition to clean, low carbon energy production and usage.
“VBR is already playing an important role in accelerating the supply of these critical commodities by
supporting the rapid and responsible development of new sources of supply that have the potential to
become globally significant.
“The interest from new investors seeking exposure to VBR’s strategy of accessing critical minerals has
been beyond our expectations. We are now well placed to expand our portfolio of strategic
investments and capitalise on the opportunities which we have already identified.”
Good to see a rise in volume this past Month but for nothing more than to lead to a lower high will require NB to deliver on his promises.
1. Profitability of current plant and no supply/ sales constraints, hopefully @ 7M$fcf,
2. Updated mineral reserves showing long mine life which can be used for reserves based lending of phase 1,
3. Offtake agreement for the carbon black
4. feasability study confirming capex requirements and opex costs.
5. (for things to really take off) Lower interest rates and the loosening of lending standards prior to financing.
For me no.1 is most important and has me considering Nicks credibility into question given it's performance.
I am still quietly topping up - average is still higher than I would like - the company credentials and plan remain hugely positive and Sir Mick is very much in the game!!
Look how narrow the spread has been. This is a good sign as it suggests MM's see little risk in taking your shares.
More of a toe dip, but buys nevertheless ….
I’m buying some down here as fundamentals for me remain over long term
Well it's the second week of April, so the ob1 updated resource is due. Will it be out in the next 3 days or will it be later than the back end of the forecast and by how much.
I'm just hopeful of an RNS in the next 4 weeks of the updated resource having confirmation of profitability & supplies at the plant.
Today might spark some activity
https://www.londonstockexchange.com/news-article/NMT/vanadium-recovery-financing-update/15879550
Maybe everyone read the broker note which valued the plant @ 5p, stating 4M$ earnings & got spooked as Bridgen reckons it can produce 8M$. You'd think, being the company broker they would both be aligned.
One day we will all be supprised because the company is self funding, it's just nobody knows when that is or how much.
Next winter we should have plenty of LNG.
How low can we go? We ca n definitely go into the 8s...
UK budget is proposed to fund Ukranian arms over the next 2 years @ 5£Bn a year, implying the govt expects the war to last that long. Get used to there being hostilities in East Ukraine, this time last year Russia was making fast progress and now has been holding a line for Months, probably in the hope that Europe will want to pressure a deal when the gas runs out next winter.
I would average down, but you can only go so far. We do need some news and a positive timeline, which will hopefully start the recovery. And the Russian war coming to an end at some point would certainly help..
Been some big trades recently if you look on the london stock exchange website for FAR, looks like a fund is pulling out. I've already filled my boots & need 15p to sell to break even. Holding on as I believe in the project, it's a bit rough but with the extra warrants & subscription shares etc. I think 30p should be reached after phase 1 financing but calculated for 100M$ and think this could be next year.....
On reflection I was way too early and not expecting the second placing. Think the markets could go a lot lower without a rate cut from the fed, pulling FAR down more, so am hanging on to my hat. £1.5M in value lost because someone wanted to sell 10K£ is a joke but that's what happens with low liquidity.
Need positive news from BoD on both current operations, feasibility study and then the plans to make the new mine operational. Costs, funding and any anticipated raises. I’m assuming the uncertainty on 1-3 year plan is reason for the sp bleeding… no news so investors get bored
Can anyone see a realistic turnaround for this share? It's been a slow bleed for most of the last two years. I'm bullish long term but this is beginning to test me. Sitting on a pretty big loss now