REG - Firering Strategic - Quicklime Operational Update

Firering Strategic MineralsAnnouncement

12/12/2024 07:00

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RNS Number : 7388P  Firering Strategic Minerals PLC  12 December 2024

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

12 December 2024

Firering Strategic Minerals plc

("Firering" or "the Company")

 

Quicklime Operational Update

 

Key milestone achieved with the commissioning of Kiln 1

 

Firering Strategic Minerals plc, an emerging quicklime production and critical
mineral exploration company, is pleased to announce an operational update with
regards to its quicklime project in Zambia ("Limeco") where commissioning of
the first of eight kilns has commenced.

 

HIGHLIGHTS

·    Final modifications to Kiln 1 completed at the end of November 2024.

·    Commissioning of Kiln 1 commenced with test runs; production of first
quicklime to be expected in a matter of weeks following the new year.

·    Kiln feed, comprising the -90mm to +60mm size fraction, has been
stockpiled near the lime plant, with a total of ~26,000 tonnes currently
available for processing.

·    Limeco continues to deliver monthly operational positive cashflow
with aggregate production from the minus 60mm stream continuing to contribute.

 

Yuval Cohen, Chief Executive of Firering, said: "We are pleased with the
excellent progress at Limeco, highlighted by yet another key milestone
achieved with the commissioning of Kiln 1. Furthermore, the construction of
the gasifier is nearing completion. This is an exciting but busy period for
Limeco as it gears up for steady quicklime production from its first kiln
while advancing efforts to bring the remaining seven kilns online in phases
during 2025. These achievements are set to establish Limeco as potentially
Zambia's largest quicklime producer."

 

DETAILS

Firering is making significant progress advancing its integrated quicklime
project in Zambia, Limeco. The project comprises a Tier 1 deposit totalling
145.2Mt at 95.7% CaCO(3) and a lime plant with eight kilns designed to burn
crushed limestone, producing 600-800 tonnes of quicklime daily. Once operating
at full capacity, Limeco will be potentially the largest quicklime producer in
Zambia, with a mine life exceeding 50 years, positioned to meet the growing
demands of the copper industry and other industrial sectors.

 

Following the project timeline, commissioning of the first of eight kilns
began in early December 2024 with test runs.  This will be followed with the
production of the first quicklime after a matter of weeks into the new year.

 

Final modifications to Kiln 1 were completed at the end of November 2024
(Table 1) incorporating new discharge gates, slide gates, and a vibratory
feeder (Figure 1). Subsequently, Kiln 1 was loaded with limestone and
underwent dry-run testing to empty the kiln (Figure 2).

 

Progress on the coal gasifier is advancing steadily, with around 50% of the
steel structure, including the first platform, now installed (Figure 3).
Additionally, construction of the coal storage facility is approximately 75%
complete (Figure 4), while the delivery of the water purification plant is
expected this week.

 

The newly installed impact crusher continues to perform efficiently, having
processed approximately 87,000 tonnes of limestone to date since being
commissioned in Q3 2024. Kiln feed, comprising the -90mm to +60mm size
fraction, has been stockpiled near the lime plant, with a total of ~26,000
tonnes currently available (Figure 5).

 

Finally, aggregate production from the minus 60mm stream remains a strong
contributor, accounting for 50% of Limeco's positive operational cash flow.

 

Table 1: Status of modifications and repairs at Kiln 1

 Item                           Status     Comment
 Discharge cone                 Completed  Increased discharge opening
 Rotary table                   Completed  Modified opening
 New skip hoist brakes          Completed  Single drum changed to double drum
 New discharge and slide gates  Completed
 New burner ports and burners   Completed  Burners to be connected to gas piping
 Feed conveyor to skip hoist    Completed
 Skip hoist                     Completed
 Pan conveyor                   Completed
 Roller crusher                 Completed
 Bucket elevator                Completed
 Silo storage and bag plant     Completed
 Modified exhaust stack         Completed  Installed on 30 October 2024

 

Figure 1: View of discharge and slide gates (left) and vibratory feeder above
pan conveyor (right).

 

Figure 2: Skip with -90 to 60mm material at top of Kiln 1 (left); emptying
limestone from Kiln1 (right).

 

 

Figure 3: View of the steel structure and 1(st) platform from the lime plant
(left); view of the gasifier with 1(st) platform (right).

 

Figure 4: View of coal storage facility.

Figure 5: View of part of the kiln feed with lime plant in the background.

 

*** ENDS ***

 

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

 

 Firering Strategic Minerals
 Yuval Cohen                                                    info@firering-holdings.com
 SPARK Advisory Partners Limited (Nominated Adviser)
 Neil Baldwin / James Keeshan / Adam Dawes            +44 20 3368 3550
 Optiva Securities Limited (Joint Broker)
 Christian Dennis / Daniel Ingram                     +44 20 3137 1903
 Shard Capital Partners LLP (Joint Broker)
 Damon Heath / Erik Woolgar                           +44 20 7186 9950
 St Brides Partners Limited (Financial PR)
 Isabel de Salis / Susie Geliher / Seb Weller          firering@stbridespartners.co.uk

 

Notes

Firering Strategic Minerals plc is an AIM listed resource company focused on
significant quicklime project in Zambia targeting the production of 600-800
tonnes of quicklime per day along with 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 an SPA over a 20.5% stake in Limeco Resources Limited ("Limeco") with
16.7% already accumulated and an option to increase this to 45%. Additionally,
the Company's portfolio includes 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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