Ferro-Alloy Resources (#FAR) – proposed placing of up to £8.2m and PrimaryBid offer of up to £0.4m at 12p per share
- 2022-09-15 07:57:24
Ferro-Alloy Resources (FAR), a “vanadium mining and mineral processing company with operations based in Southern Kazakhstan”, in March was “pleased to announce that its entire issued ordinary share capital will commence trading on the standard listing segment of the Official List of the Financial Conduct Authority and on the Main Market of the London Stock Exchange… As part of the Admission process, the company has successfully raised £5.2 million (before expenses) from institutional shareholders… at a placing price of 70p each”. Today “Operational, Trading and Financing Update”. Hmmm…
I feel rather left out. A leading broker has received a fascist lawyers letter from Shard Capital for describing the IPO of Ferro-Alloy Resources (FAR) at 70p on 28 March as a "scam." He was a tad harsh in that description but with the shares having tanked to 31.5p already and still a screaming short, it does not smell good..So here is what stinks.