Vanadium producer Ferro-Alloy Resources listed on AIX
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.»
Reference:
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English common law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details: www.aix.kz
AIFC. Astana International Financial Center (AIFC) was established on the initiative of Nursultan Nazarbayev, the First President of the Republic of Kazakhstan. The constitutional law establishing AIFC was signed on December 7, 2015. The aim of AIFC is to form a leading center of international financial services. The objectives of AIFC are to assist in attracting investments into the country’s economy, create an attractive environment for investment in financial services, develop the securities market of the Republic of Kazakhstan and ensure its integration with international capital markets. www.aifc.kz
FAR is a Guernsey registered company, formed in 2000, which is the 100% owner of Firma Balausa LLP, the holder of the rights to develop and exploit the giant Balasausqandiq vanadium deposit in Southern Kazakhstan (Kyzylordinskaya Oblast). FAR is operating a processing plant treating low-grade bought-in concentrates with a production capability of around 150 tonnes per annum of vanadium pentoxide in the form of ammonium metavanadate (AMV). www.ferro-alloy.com
