Astana International Exchange (“AIX”, “Exchange”) is pleased to announce that ordinary shares of Ferro-Alloy Resources Limited (“FAR”) have been included to the AIX official list effective January 6, 2020. Secondary trading is expected to start shortly. FAR shares will be traded under (FAR) ticker with quotation and settlements in US dollars, and are fully fungible between London Stock Exchange, Kazakhstan Stock Exchange and AIX.
FAR is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya Oblast of southern Kazakhstan. The ore at this site has a significantly higher grade than all other primary vanadium extraction sites, which allows for much lower processing costs.
CEO of AIX, Tim Bennett, noted:
“AIX welcomes FAR as our third mining listing. We see strong international investor demand for the mining sector in Kazakhstan and we expect that FAR listing along with the special mining rules we introduced in July will unlock and support this demand.”
CEO of Ferro-Alloy Resources, Nicholas Bridgen, commented:
«We are very pleased to be admitted to listing on the AIX stock exchange. We see the AIX as strong platform that will allow our Group to capture interest from investors who we expect to be encouraged by the AIX’s use of English language and law and its compatibility for compliance purposes with the rules of the London Stock Exchange.»