Business
Full Year Results Deferral and Ops Update
Full Year Results Deferral and Ops Update.
About this update from Ferro-alloy Resources Ltd.
[{"type":"text","content":"\n \n \n RNS Number : 6294L\n Ferro-Alloy Resources Limited\n 01 May 2020\n \n \n \n \n Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).\n \n \n \n \n \n 1 May 2020\n \n \n Ferro-Alloy Resources Limited\n \n \n (\"Ferro-Alloy\" or \"the Company\")\n \n \n Full year results deferral in response to FCA statement of policy \n \n \n Production, Operations & Finance Update and\n \n \n Appointment of Financial Adviser\n \n \n Overview\n \n \n · \n Financial results deferred in line with FCA statement of policy\n \n \n · \n Production of acid-recoverable concentrates temporarily suspended due to the unavailability of staff from Covid-19 restrictions but restarting in May 2020\n \n \n · \n Other operations have continued but with slower progress on feasibility study due to travel restrictions during the Covid-19 pandemic\n \n \n · \n First stage of expansion plan completed\n \n \n · \n Outlook for Vanadium prices and high margins remains positive \n \n \n Ferro-Alloy Resources Limited (LSE: FAR), \n the vanadium mining and processing company with operations based in Southern Kazakhstan\n \n announces that it will utilise the temporary relief measures implemented by the Financial Conduct Authority (\n \"\n FCA\n \"\n ) and the Financial Reporting Council (\n \"\n FRC\n \"\n ) regarding \n the publication of annual financial results during the COVID-19 pandemic. The Company will therefore defer the publication of its audited financial results for the year ending 31 December 2019 (\n \"2019 Accounts\"). The reason for the need to delay is that travel restrictions are in place internationally and so the reporting and auditing process is taking longer than usual. \n \n \n The maximum delay permitted by the FCA exemption is two months; hence, following the deferral, the Company's reporting timetable for the 2019 Accounts means they must be published by no later than 30 June 2020. The Company expects to publish the 2019 Accounts in June 2020.\n \n \n Production update and shipment of vanadium pentoxide\n \n \n \n \n \n \n \n \n \n \n \n \n Production\n \n \n (tonnes of vanadium pentoxide contained in AMV)\n \n \n \n \n Shipments\n \n \n (tonnes of vanadium pentoxide contained in AMV)\n \n \n \n \n \n \n Q3 2019\n \n \n \n \n 38.3\n \n \n \n \...