Ferro-Alloy Resources Raises £1 Million Through Share Placement
Why we think this is neutral
The RNS announcement is for an issue of equity, which is not one of the mandatory news types specified. While the company is raising additional capital, the announcement does not contain any financial figures, trading updates, or other key information that would significantly impact the sentiment.
Key Points
- Ferro-Alloy Resources has issued 16,666,667 new ordinary shares, raising £1 million
- The new shares were issued at a 19.5% discount to the previous closing price
- Certain directors and the company's strategic shareholder Vision Blue Resources Limited participated in the share subscription
Summary
The vanadium producer is issuing new shares to raise £1 million, with participation from directors and a strategic shareholder.
Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the Balasausqandiq vanadium deposit in Kazakhstan, has issued 16,666,667 new ordinary shares, raising gross proceeds of £1,000,000. The new shares were issued at a 19.5% discount to the company's closing share price on 4 July 2025. The funds will be used to optimize the carbon black substitute element of the Balasausqandiq Project.
Key Dates
September 2025
Completion of Feasibility Study for Balasausqandiq Project
GENERAL UPDATE