Ferro-Alloy Resources Group (FAR LN) # has reported full year results for 2019. With COVID-19 restrictions being lifted in Kazakhstan, we believe this will enable FAR to recover from an exceptional 2019 where revenue of US$1.8m was down 57% YoY despite a 22% increase in V2O5 output to 152t. COGS of US$3.2m were up 88% YoY, largely due to the higher cost of purchased raw materials. SG&A was inflated due to listing costs taking the group to a net loss of US$3.3m versus a profit of US$3m in
29 Jun 2020
2019 Weak as Anticipated; Recovery Expected
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2019 Weak as Anticipated; Recovery Expected
Ferro-Alloy Resources Ltd. (FAR:LON) | 4.8 0 3.3% | Mkt Cap: 23.0m
- Published:
29 Jun 2020 -
Author:
Oliver O’Donnell -
Pages:
15
Ferro-Alloy Resources Group (FAR LN) # has reported full year results for 2019. With COVID-19 restrictions being lifted in Kazakhstan, we believe this will enable FAR to recover from an exceptional 2019 where revenue of US$1.8m was down 57% YoY despite a 22% increase in V2O5 output to 152t. COGS of US$3.2m were up 88% YoY, largely due to the higher cost of purchased raw materials. SG&A was inflated due to listing costs taking the group to a net loss of US$3.3m versus a profit of US$3m in