Ferro-Alloy Resources Ltd (LSE:FAR) has sold all bonds issued under the US$5m third tranche of the Kazakhstan exempt offer programme.
Money from the sale will go to the development of the Balasausqandiq project including front-end engineering.
The three tranches of bonds issued and listed under the Programme to date have been sold, in aggregate, for US$13m.
Under the terms of the Programme, US$7m of headroom remains for the issue of future tranches by the company.