Q4 2023 Production Results
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| 2022 | 2023 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | FY % change | |
| Tonnes of concentrate processed | 502.3 | 644.9 | 538.4 | 396.2 | 2,081.8 | 194.1 | 1,016.6 | 314.0 | 703.3 | 2,228.0 | 7.0% |
| Tonnes of vanadium pentoxide produced* | 81.1 | 91.7 | 69.9 | 62.8 | 305.5 | 31.3 | 141.4 | 47.3 | 90.5 | 310.5 | 1.6% |
| Tonnes of molybdenum produced** | 11.3 | 10.4 | 11.0 | 3.3 | 36.0 | 6.5 | 14.1 | 6.4 | 7.4 | 34.4 | -4.4% |
| Tonnes of nickel produced*** | 25.1 | 32.2 | 26.9 | 19.8 | 104.0 | 9.7 | 50.8 | 15.7 | 35.2 | 111.4 | 7.1% |
* partly contained in ammonium metavanadate
** in ferro-molybdenum
*** in nickel concentrate
Production Outlook
As announced on 10 October 2023, in order to secure a regular supply of concentrate, the Company entered into a number of contracts with different suppliers. As a result, the Company is currently holding a significant stock of concentrates, sufficient for around seven months of production at current rates.
The stockpiled concentrates require longer process-residence times than hitherto, so the Company expects that production during the first two quarters of 2024 will be similar to that of Q4 2023. The Company aims to increase production by treating different and higher quality concentrates as they become available.
Commenting on the production results, Nick Bridgen, CEO of Ferro-Alloy Resources said:
"The existing plant is operating well and in spite of the different characteristics we have found with the new concentrates, it's pleasing to report sustained or slightly increased production. Our main task remains to complete the feasibility study into the Balasausqandiq project, the results to date of which meet our previous expectations."
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