REG - Firering Strategic - Increases Interest in Zambian Quicklime Project

Firering Strategic MineralsAnnouncement

24/04/2025 07:02

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RNS Number : 9335F  Firering Strategic Minerals PLC  24 April 2025

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

 

24 April 2025

Firering Strategic Minerals plc

("Firering" or "the Company")

 

Firering Increases Strategic Interest in Zambian Quicklime Project

 

Firering Strategic Minerals plc, an emerging quicklime production and critical
mineral exploration company, is pleased to announce that it has increased its
interest in Limeco Resources Limited ("Limeco") to 20.5% following the
acquisition of an additional 3.8% stake for cash consideration of
US$1,033,333. This is in line with the Share Purchase Agreement announced on
28 May 2024. Firering also retains an option to acquire a further 24.5%
interest in Limeco for a total cash consideration of US$4.65 million.

 

Limeco owns a significant limestone project located approximately 22km west of
Lusaka, Zambia. As recently reported, high-quality quicklime ('CaO') is being
produced at the first of eight kilns, with CaO sample purity levels reaching
over 90%, well above the accepted target for metallurgical processes of 80% or
higher.

 

Yuval Cohen, Firering CEO, said, "With quicklime production at Limeco
continuing to increase, it's great to see our interest in the business grow in
parallel.  We continue to believe in the Project's long-term potential and
strategic value as we look to bring the remaining seven kilns into operation.
We're seeing increasing demand for locally produced quicklime, particularly
across the copper mining sector in the region, and completion of this
investment positions us strongly to capitalise on that momentum."

 

*** ENDS ***

 

For further information visit www.fireringplc.com or contact:

 Firering Strategic Minerals                          E: info@firering-holdings.com

 Yuval Cohen
 SPARK Advisory Partners Limited (Nominated Adviser)  T: +44 20 3368 3550

 Neil Baldwin / James Keeshan
 Optiva Securities Limited (Joint Broker)             T: +44 20 3137 1903

 Christian Dennis / Daniel Ingram
 Shard Capital Partners LLP (Joint Broker)            T: +44 20 7186 9950

 Damon Heath / Erik Woolgar
 St Brides Partners Limited (Financial PR)            E: firering@stbridespartners.co.uk

 Isabel de Salis / Susie Geliher / Seb Weller

 

Notes

Firering Strategic Minerals plc, an AIM-listed resource company, is positioned
to scale up production in 2025 at its quicklime project in Zambia to produce
600-800 tonnes of quicklime daily along with a range of ancillary products.
With over US$100 million in historical investment, the project is
strategically positioned to support the expanding copper producers in the
Zambian Copper Belt, which are currently reliant on imported quicklime from
South Africa.  Firering currently holds a 20.5% stake in Limeco Resources
Limited ("Limeco") and an option to increase this to 45%. Additionally, the
Company is advancing the Atex Lithium-Tantalum Project in northern Côte
d'Ivoire, an exploration project rich in lithium and tantalum-niobium, with
drilling results indicating significant resource potential in this established
mining jurisdiction.

 

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