Ferro-Alloy Resources Reports Revenue Decline and Optimistic Outlook

Ferro-Alloy Resources Ltd. (GB:FAR) has released an update.

Ferro-Alloy Resources Limited, the vanadium producer in Kazakhstan, reported a decrease in revenues to US$6.16m for 2023, a 9% drop from 2022, attributed largely to falling market prices and production challenges. The company faced an overall loss of US$5.25m but has launched a US$20m bond program, raising US$7.8m through bonds, with Vision Blue Resources increasing its stake to nearly 23%. Despite setbacks, including a slowed Chinese construction sector impacting vanadium prices, operational improvements and an optimistic outlook for concentrate supplies suggest potential recovery in 2024.

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