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Ferro Alloy Resources (FAR) investor relations material
Ferro Alloy Resources H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Progressed the Balasausqandiq vanadium project to front-end engineering and design, with ongoing financing discussions and a letter of interest from a major US government financing institution.
Continued R&D on carbon black substitute (CBS) and rare earth elements (REES), securing a $500,000 grant for CBS pilot production.
Issued 28.6 million new shares, raising £1.57m in equity.
Financial highlights
Revenue for H1 2026 was $1.8m, down 28% year-over-year due to a 35% reduction in processed raw materials.
Gross loss of $0.5m (2025: $0.8m); loss before and after tax of $3.2m (2025: $3.5m).
Net cash outflow from operations was $2.4m (2025: $0.5m outflow); cash at period end was $0.8m (2025: $0.4m).
Administrative expenses were $1.6m (2025: $1.5m); net finance costs $1.0m (2025: $1.1m).
Outlook and guidance
Awaiting construction quotations for the Balasausqandiq project; financing remains a key focus.
R&D efforts to continue, especially on CBS and REES recovery.
- Feasibility study confirms world-class vanadium project; funding and market risks remain.FAR
H2 2025 - Kazakhstan vanadium project aims for lowest costs and strong margins, targeting energy storage growth.FAR
Corporate presentation - Revenue fell and losses widened in H1 2024 amid low vanadium prices and ongoing project investment.FAR
H1 2024 - Losses increased as revenue fell and focus shifted to R&D, with funding secured for project advancement.FAR
H2 2024 - Revenue up 17.7% to $2.53m, net loss narrows, feasibility study near completion.FAR
H1 2025
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