REG - Firering Strategic - AGM Statement

Firering Strategic MineralsAnnouncement

26/07/2022 07:00

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RNS Number : 6775T  Firering Strategic Minerals PLC  26 July 2022

Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

 

26 July 2022

Firering Strategic Minerals plc

("Firering" or "the Company")

AGM Statement

 

Firering Strategic Minerals plc, an exploration company focusing on critical
minerals, is hosting its 2022 Annual General Meeting ("AGM") today at Hill
Dickinson LLP, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW at
1.00pm BST.

 

At the AGM, Yuval Rasin, Chairman of the Company, will make the following
statement:

 

"I am delighted to be presiding at our first annual general meeting since
listing on AIM in November 2021. The past year has been a period of
significant progress from both a corporate and operational perspective as we
advance towards our objective of becoming a key supplier of critical minerals
to fast growing markets.  Central to this strategy is our two-year
exploration campaign at our flagship Atex Lithium-Tantalum Project, which the
Board believes has the potential to become Africa's next significant lithium
pegmatite and coltan resource.

 

"In conjunction with our AIM listing in Q4, we successfully raised £4 million
to support an accelerated development and exploration programme at Atex.
These funds were immediately put to work, and, within a month of listing, we
updated the market with our first geological update from the project.  This
update, delivered detailed geological mapping of the Atex licence area,
confirmed a pegmatite zone of at least 13km x 4km; an area many multiples
larger than originally anticipated.

 

"Building on this initial exploration success, the Firering team mapped out an
exploration and activity schedule which combined a first phase of auger
drilling campaign, infill auger sampling, and a 3,000m Phase 1 diamond core
drilling campaign which commenced last week.  In addition, trenching across
Spodumene Hill continues with further work defining the 100m apparent width of
pegmatite identified on Trench 1 and work commencing on Trench 2 further north
on the hill. Furthermore, a pit sampling programme has commenced on and around
Spodumene Hill to define the design for the pilot 'Multi Gravity Separation'
plant, ensuring the multiple dimensions of our development plan are advanced
in parallel.

 

"Such is our confidence in the strategic importance of the emergent critical
mineral industry, Firering has been proactive in consolidating and expanding
our mineralised footprint in West Africa.  In December 2021, Firering
announced the acquisition of 51% of Alliance Minerals Corporation, providing
Firering with a controlling interest in the licence application adjacent to
Atex.  Furthermore, our ambitious mindset regarding expansion opportunities
was demonstrated by the recent acquisition of the Toura Nickel-Cobalt Licence
in Côte d'Ivoire.  This acquisition is in line with the Company's strategy
to focus on critical metals and embodies the plethora of other new and
exciting opportunities in the strategic metals space that Firering hopes to
pursue.

 

"As we move into the second half of 2022, we are looking forward to delivering
results from our Atex drilling programme, targeting the lithium-bearing
pegmatites as part of the fully funded diamond drilling campaign, which
continues to increase our understanding of this highly prolific
lithium-tantalum project.  The coming months are set to be punctuated with
high impact news flow which will set the scene for our transition into an
ethical and sustainably centred critical minerals producer."

*** ENDS ***

 

 For further information and updates on Firering's exploration programme,
visit www.fireringplc.com or contact the following:

 

 Firering Strategic Minerals                     Tel: +44 20 7236 1177

 Yuval Cohen

 Tim Daniel

 SPARK Advisory Partners Limited                 Tel: +44 20 3368 3550

 Nominated Adviser

 Neil Baldwin / James Keeshan / Adam Dawes

 Optiva Securities Limited                       Tel: +44 20 3137 1903

 Broker

 Christian Dennis / Daniel Ingram

 St Brides Partners Limited                      T: +44 20 7236 1177

 Financial PR                                    E:  firering (mailto:firering@stbridespartners.co.uk)

                                               @stbridespartners.co.uk (mailto:firering@stbridespartners.co.uk)
 Ana Ribeiro / Susie Geliher / Isabelle Morris

 

Firering Strategic Minerals

Firering Strategic Minerals plc is an AIM-quoted mining company focused on
exploring and developing a portfolio of mines producing critical minerals in
the Côte d'Ivoire including lithium and Tantalum to support the global
transition to net zero emissions. It operates the 77% owned
Atex Lithium-Tantalum Project in northern Côte d'Ivoire, which is
prospective for both lithium and tantalum.  Firering intends to advance
development at Atex with a view to establishing a maiden Lithium resource and
a pilot scale production of ethical tantalum and niobium production within 18
months to generate early revenues and support further exploration work.  A
large-scale Tantalum production facility will be developed following pilot
results, which will be supported by a debt facility of FCFA 5,057,000,000
(approximately €7,500,000) currently under negotiation to fund the entire
scale-up plan to develop a portfolio of ethically sourced mineral projects in
the Côte d'Ivoire, supplying EV batteries, high tech electronics and other
fast-growing end markets.

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