Ferro-Alloy Resources Limited

AGM Information • Nov 14, 2025

National Storage Mechanism | Additional information

RNS Number : 6691H

Ferro-Alloy Resources Limited

14 November 2025

14 November 2025

Ferro-Alloy Resources Limited

("Ferro-Alloy" or "the Company")

Result of 2025 AGM

Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, is pleased to announce that at the Annual General Meeting ("AGM") held on the 14 November 2025, all resolutions were duly passed.

No.	Ordinary Resolutions	For	Against	Withheld
1	To receive and adopt the Company's Annual Report for the year ended 31 December 2024	280,233,422	-	909,427
2	To re-elect Sir Michael Davis as a director	280,208,973	22,549	911,327
3	To re-elect Nicholas Bridgen as a director	263,839,166	16,307,864	995,819
4	To re-elect Andrey Kuznetsov as a director	279,829,563	317,467	995,819
5	To re-elect Christopher Thomas as a director	263,844,058	16,302,972	995,819
6	To re-elect James Turian as a director	273,601,198	6,545,832	995,819
7	To re-elect Petrus Nienaber as a director	276,440,134	3,696,032	1,006,683
8	To re-elect William Callewaert as a director	279,829,563	317,467	995,819
9	To re-appoint Crowe U.K. LLP as the Company's auditors	280,219,862	13,560	909,427
10	To authorise the directors to determine the auditors' remuneration	280,219,862	22,060	900,927
11	That the directors are generally and unconditionally authorised pursuant to Article 20 of the articles of incorporation of the Company to exercise all the powers of the Company to allot Relevant Securities and to grant rights to subscribe for or to convert any security into such Relevant Securities on the terms as more particularly detailed within resolution 11 as set out in the notice convening the AGM	269,115,865	11,016,565	1,010,419
No.	Special Resolution	For	Against	Withheld
12	That the directors are empowered pursuant to Article 21.8 of the Articles to allot Equity Securities on a non pre-emptive basis, on the terms as more particularly detailed within resolution 12 as set out in the notice convening the AGM	268,879,973	11,252,457	1,010,419

ENDS

For further information, visit www.ferro-alloy.com or contact:

Ferro-Alloy Resources Limited	Nick Bridgen (CEO) / William Callewaert (CFO)	[email protected]
Shore Capital  (Joint Corporate Broker) Panmure Liberum Limited (Joint Corporate Broker) BlytheRay (Financial PR)	Toby Gibbs / Lucy Bowden Scott Mathieson / John More Tim Blythe / Megan Ray / Will Jones	+44 207 408 4090 +44 20 3100 2000 +44 20 7138 3204 [email protected]

Notes to Editors

About Ferro-Alloy Resources Limited:

The Company's operations are all located at the Balasausqandiq deposit in Kyzylordinskoye Oblast in the South of Kazakhstan.

Balasausqandiq is a very large deposit, with vanadium as the principal product together with the CBS and several by-products. Owing to the nature of the ore, the capital and operating costs are very much lower than for other vanadium projects.    

The most recent mineral resource estimate for ore-body one (of seven) provided an Indicated Mineral Resource of 32.9 million tonnes at a mean grade of 0.62% V2O5 equating to 203,634 contained tonnes of V2O5. In the system of reserve estimation used in Kazakhstan the resources are estimated to be over 70 million tonnes in ore-bodies 1 to 5, but this does not include the full depth of ore-bodies 2 to 5, or the remaining ore-bodies which remain substantially unexplored. 

The grade of carbon in the deposit is over 8%. The carbon flows through to the tailings from where it is concentrated, in a simple low-cost operation, into a 40% carbon product, the CBS, that can be used in place of carbon black as a reinforcing filler in the making of rubber. A further CBS product has been identified based on the high-carbon but low-vanadium material within open-pit the waste material.

The Project will be developed in at least two phases, Phase 1 and Phase 2, with Phase 1 treating 1.65 million tonnes per year.

There is an existing concentrate processing operation at the site of the Balasausqandiq deposit. The production facilities were originally created from a 15,000 tonnes per year pilot plant, which was then expanded and adapted to recover vanadium, molybdenum and nickel from purchased concentrates.  Alongside this operation, there is a well-equipped laboratory and highly skilled technical team, who have already developed the technology that is being built into the Feasibility Study and is further developing and optimising processes needed for future vanadium and carbon operations. The plant will operate only when profitable concentrates are available and, when not operating as a production facility, will operate on an expanded basis as an R&D centre.

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