Ferro-Alloy Resources Ltd (LSE:FAR, FRA:5PE) generated revenues of US$1.5mln during the six months to June 2021 from its vanadium operations in Kazakhstan. That was up significantly on the US$1.1mln generated in the corresponding period of 2020.
The boost reflected higher market prices. However, the delayed delivery of vanadium concentrates curtailed production.
Ferro Alloys made a net loss before and after tax of US$1.1mln, down from the US$1.7mln returned in the corresponding period in 2020.
Net cash outflows from operating activities totalled US$1.3mln as the company continued to spend on the Balasausqandiq feasibility study.
Net cash inflows from financing activities totalled US$10.1mln as Mick Davies and his team from Vision Blue swung their weight behind the company.
Ferro Alloys had cash of US$8.2mln at 30 June 2021.