Proactive Investors - Ferro-Alloy Resources Ltd (LON:FARF) has pushed back the completion date of the feasibility study for its Balasausqandiq vanadium project in Southern Kazakhstan until the fourth quarter of 2024.
Delays caused by the design of the tailings facility and capacity constraints at the labs testing tailings samples are the primary reasons, said the statement.
Ferro-Alloy provided a detailed update on the progress of the study so far, stating fieldwork is now largely complete, as is the drilling required.
All metallurgical testing is also now finished, the statement added, with equipment specification, costings and plant layout optimisation ongoing.
Consultant Tetra Tech (NASDAQ:TTEK) is expecting to complete this work during the second quarter of 2024.
Construction of a pilot plant to produce the by-product carbon black is scheduled for around the end of 2024 or early 2025, allowing test marketing and offtake negotiations in advance of the commissioning of the first Phase 1 module.
Ferro-Alloy added it has now listed a third tranche of bonds with a nominal value of US$5 million under its existing exempt offer bond programme in Kazakhstan.