Firering Strategic Minerals plc
Firering Strategic Minerals Plc

Firering Strategic Minerals Plc share price, company news, analysis and interviews

Firering Strategic Minerals plc (LON:FRG) is an AIM-quoted mining company focused on becoming a near-term cash generating producer of Quicklime, through their Limeco Project in Zambia, whilst at the same time progressing with the exploration and development of their Atex Lithium Project, Côte d’Ivoire.

Firering Strategic Minerals
Firering Strategic Minerals

Limeco was initially established by Glencore plc due to the shortage of quicklime in Zambia and the need for quicklime at its Mopane operatons in Zambia.

In total, over $US100m has been invested in establishing the limestone quarry and constructing the current lime plant.

The lime plant consists of a two stage crushing circuit with an installed primary throughput of 500tph of limestone, and a quicklime production unit comprising eight kilns for burning crushed limestone to produce between 500 and 600 tonnes of quicklime per day.

The Atex Lithium-Coltan Project covers an area of 134.96 km2 and is located 40 km north of the town of Boundiali and approximately 100 km northwest of the city of Korhogo.Fireing holds a 90% stake in the Atex Project. 

Firering currently owns a 90% interest in Atex Mining Resources, which holds the Atex Project.

Currently the Atex exploration licence is granted for Lithium, however it is intended that this will be amended to include Niobium-Tantalum, Tin and Gold upon applying for exploitation permits, as per the results of the exploration study. The renewal application was submitted on 6 August 2021 and the permit is now waiting final minister signature.

Firering Strategic Minerals

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Firering Strategic Minerals plc

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Firering Strategic Minerals Funding Update and Progress on Zambia’s Quicklime Project (VIDEO)

Firering Strategic Minerals plc (LON:FRG) Independent Non-Executive Director, Vassilios Carellas talks to DirectorsTalk Interviews to discuss a funding update as it fast-tracks its quicklime project in Zambia.

https://vimeo.com/1030663492

In this interview, Firering Strategic Minerals’ Independent Non-Executive Director, Vassilios Carellas, shares the latest developments surrounding the company’s Quicklime project in Zambia. During this interview, Carellas outlines their funding strategy, including the steps taken to minimise shareholder dilution, the progress of securing a significant $7.5 million loan, and the updates on plant modifications that keep the project on track. With commissioning of the first kiln expected soon, this conversation offers key details investors will want to hear.

Firering Strategic Minerals is an AIM-listed development company focused on advancing critical mineral projects. Its operations are aimed at supporting global supply chains for key resources essential to energy transition and infrastructure development.

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Firering Strategic Minerals

Firering Strategic Minerals Q&A on quicklime production and expansion plans (LON:FRG)

Firering Strategic Minerals plc (LON:FRG) Independent Non-Executive Director Vassilios Carellas caught up with DirectorsTalk for an exclusive interview to discuss the projected duration of the quicklime production, increasing production, the deposit being ‘tier one,’ development plans for domains B & C, and the significance of the pit optimisation results.

Q1: Vassilios, what’s the projected duration of Limeco’s quicklime production based on the Maiden JORC-compliant mineral resource estimate announced today?

A1: It’s been a great result for us, we’re absolutely thrilled with the result to be honest. Based on this current resource that we have and based on the current setup on site, we have a production capacity of well over 50 years.

So, this provides a solid foundation for this project and the lifeline of it.

Q2: Is this based on the planned daily output of 600-800 tonnes or with the larger resource, are the plans to further increase production after achieving the target in 2025?

A2: Well, this is based on the current kiln setup with the eight kilns that do roughly 100 tonnes of quicklime each a day. Obviously, our focus for next year is actually to get all eight kilns going and so that’s the focus for us, the larger resource if supply-demand metrics are there, we do now have the resource space to expand and add more kilns.

So, it puts us in a very good position.

Q3: Now, EarthLabs describes the deposit as being in the tier one category, what does that mean?

A3:Basically, if you take a comparison of all the other quicklime producers and then you compare them and rank them against our resource, this resource is basically one of the bigger ones around, and that’s A and B. It also enables the project to scale up and so that’s effectively what they’re inferring by being tier one.

Q4: Now, the focus is on domain A, but do you have plans to develop B and C?

A4: Yes, domain A is obviously the material that will get fed into the kilns, B and C are currently what we produce aggregate with. If you recall, we’ve actually got a cement plant that’s sitting in containers on site and the plan will be eventually to take that out and erect it. Instead of selling aggregate, we’d be selling cement.

So, domain A, B and C ultimately would all down the line be processed.

Q5: What’s the significance of the pit optimisation results regarding the stripping ratio and sensitivity to operational costs?

A5: The pit optimisation has basically shown that we’ve got a very negligible stripping ratio, all the material, 99.5% of the material being mined will actually be used. So, in other words, either it’ll go into the quicklime or it’ll get used for aggregate or cement, very little material is wasted.

So, unlike some operations where you see these big dumps lying around, Limeco won’t have any of that, and when they ran the optimisation runs, they ran them at different costs and different pricing for products and it had very little effect on the pit shell.

What that tells you is that it’s an extremely robust project with very little waste in terms of material being mined.

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Firering Strategic Minerals

Firering Strategic Minerals boosts quicklime production with new licence and resource growth

Firering Strategic Minerals plc (LON:FRG) Independent Non-Executive Director Vassilios Carellas caught up with DirectorsTalk for an exclusive interview to discuss the recently awarded exploration licence adjacent to the existing site , increasing production, existing stockpiles, and quicklime production in Q4.

Q1: Vassilios, the increase in potential resource size of 60 to 70 million tonnes is significant. Can you explain how large the existing resource is, and potential increase in resources, in terms of potential life of mine?

A1: The current resource Firering Strategic Minerals has under license is just over 70 million tonnes of material so if one puts that into context, in terms of value in the ground, that’s roughly around just over $3 billion worth of material.

Now with this additional license here, where we already have some drilling information over this area, we believe that we’ll be able to double that resource, so you’re potentially adding another 60 to 70 million tonnes of material.

So, quite significant for the operation going forwards.

Q2: I understand the existing plant can produce approximately 200,000 tonnes of quicklime, is that right?

A2: That’s correct, yes. We’ve got eight kilns, each one does about 100 tonnes of quicklime a day and if one takes into account the utilisation and availability, you’re looking at about that number.

Q3: At a later point, perhaps in the medium, you could consider increasing production capacity based on the resource size?

A3: Yes, based on the current resource size, one could definitely do that, let alone the additional potential resources we have.

Obviously, the focus at the moment is to get all eight kilns operational but certainly in the back of our minds, we’re certainly looking at potentially, once we’ve got that up and running properly, all eight kilns, is to look at potentially expanding.

Q4: Just going back to the existing plant. I recall that you actually already have an existing stockpile ready for production, what’s the size of the stockpile and how long will it last before you need to start mining?

A4: Firering Strategic Minerals has got two stockpiles roughly about 150,000 tonnes each and so with the commissioning and ramp up, that should easily last us about a year.

Q5: Finally, just to confirm, are you still expecting first quicklime production in Q4 this year?

A5: Yes, we are. As per the update we put out the other week, we’re still on track for getting the first kiln going in Q4 this year so it’s all hands on deck and full steam ahead.

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