|
Ferro-Alloy Resources Ltd - vanadium producer in Kazakhstan - Reports year-on-year and monthly fall in production in the third quarter of 2023, citing delays and defaults by suppliers. Tonnes of concentrate processed falls to 314.0 from 538.4 a year ago and from 1,016.6 a quarter ago. Tonnes of vanadium pentoxide produced falls to 47.3 from 69.9 a year ago and from 141.4 a month ago. Tonnes of molybdenum produced declines to 6.4 from 11.0 a year ago and from 14.1 a month ago. Tonnes of nickel produced falls to 15.7 from 26.9 a year ago and from 50.8 a month ago. Chief Executive Officer Nick Bridgen highlights that the second quarter of 2023 had the ‘best production quarter to date’ which explains the large output figures for that period. He adds: ‘Output has been restricted by defaults by our suppliers in addition to logistics delays. That being said, with the steps that we’ve taken to increase the quality and number of concentrate suppliers we deal with, the deliveries that have been made to site in the last few days and the pipeline of deliveries already in transit, we are confident that production will not be affected by any foreseeable supply shortages this year and beyond.’ Current stock price: 8.60 pence, down 5.5% on Tuesday afternoon in London 12-month change: down 21% Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
