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The latest announcement is out from Ferro-Alloy Resources Ltd. ( (GB:FAR) ).
Ferro-Alloy Resources Limited has announced the issuance of 28,179,747 new ordinary shares, raising £1,549,886. This equity raise, supported by key shareholders including Vision Blue Resources Limited and company directors, aims to strengthen the company’s financial position as it advances the Balasausqandiq project. The shares were issued at a 23.1% discount to the closing share price, and the transaction has been deemed fair and reasonable by the Independent Director. The new shares will be admitted to trading on the London Stock Exchange, increasing the total voting rights to 559,129,629 shares.
The most recent analyst rating on (GB:FAR) stock is a Hold with a £7.00 price target. To see the full list of analyst forecasts on Ferro-Alloy Resources Ltd. stock, see the GB:FAR Stock Forecast page.
Spark’s Take on GB:FAR Stock
According to Spark, TipRanks’ AI Analyst, GB:FAR is a Neutral.
Ferro-Alloy Resources Ltd. faces significant financial difficulties, which are the primary drivers of the low overall stock score. The technical analysis suggests some potential for stabilization, but the negative valuation metrics highlight ongoing profitability issues. The absence of earnings call insights or notable corporate events leaves these concerns unmitigated.
To see Spark’s full report on GB:FAR stock, click here.
More about Ferro-Alloy Resources Ltd.
Ferro-Alloy Resources Limited operates in the mining industry, focusing on the production and development of vanadium and related products. The company’s primary operations are centered around the Balasausqandiq vanadium deposit in Southern Kazakhstan, which is known for its large reserves and low-cost production capabilities. The company also produces a carbon black substitute and several by-products, with a focus on optimizing processes for future operations.
Average Trading Volume: 2,274,659
Technical Sentiment Signal: Sell
Current Market Cap: £37.96M
For detailed information about FAR stock, go to TipRanks’ Stock Analysis page.