Vision Blue Increases Investment for Ferro Alloy Resources

Ferro Alloy Resources Ltd., the vanadium mining and processing company with operations based in southern Kazakhstan, reported a further investment of $7 million by Vision Blue Resources Ltd. The investment will bring the total invested by Vision Blue and its co-investors to $10.1 million. It comes on an accelerated timetable, which will enable the expansion of the feasibility study as well as improvements on site to the existing operations.

“Accelerating the $7 million tranche of investment is a vote of confidence in our project by our strategic investor Vision Blue Resources,” Ferro Alloy CEO Nick Bridgen said. “With this accelerated investment, the plant improvements we have already made, the improved product prices and at last, good deliveries of raw materials, we are now in a strong position to realize the benefits of the hard work undertaken in the last few years and look forward to the next chapter with confidence.”

Ferro Alloy is planning to expand the scope of the feasibility study, which is already under way. This includes potentially expanding the scope to include further evaluation of the Phase 2 expansion to 4 million metric tons per year (mt/y) of ore treated and to further establish the potential value to be extracted in the form of byproducts. The expanded scope is likely to entail a drilling program to upgrade sufficient resource to the JORC Indicated category to enable planning for production at the expanded rate for a significant mine life.

“The Ferro Alloy and Vision Blue teams have worked closely together over recent weeks to enhance the feasibility study for the Balasausqandiq vanadium deposit and we are looking forward to reporting on progress in the coming months,” Vision Blue Chairman Sir Mick Davis said. “As we continue our work, I am increasingly convinced of the Balasausqandiq deposit’s potential to become the leading vanadium asset in the world.”