Firering Strategic Minerals Plc (LON:FRG) Independent Non-Executive Director Vassilios Carellas to discuss quicklime purity & the significance to metallurgical applications, types of customers, and their current status ownership at Limeco.
Q1: Vassilios, Limeco’s quicklime purity exceeds 90% now. Can you explain the significance of this in the context of industry standards, particularly for the metallurgical applications?
A1: In terms of purity, we’re basically getting where we thought we would get in terms of quality. In terms of industry, generally 80% quicklime CaO is the standard, and we’re now well over 90%.
That obviously not only enables us to provide a product to the mining industry, which is initially what we’ve been focusing on, but also to start looking at other sectors, in particular, the fertiliser industry, where they require a higher purity quicklime product, which we’re able to produce.
So, we’re in a very good position in terms of the product we’re producing.
Q2: In terms of sale, you’ve just touched on this, but could you provide more detail on the types of customers that you’re actually engaging with and their geographic spread?
A2: Obviously, our initial focus has been on the mining industry and so far, the response seems to be heading in the right direction, they’ve picked up samples and they’re going through tests in their laboratories.
More interestingly, we’ve actually been approached by a group that wants to take the product into Zimbabwe for the gold industry there. So, like for the copper industry, quicklime is also used in the gold industry for in the cyanide leach process, whereas to control the pH as you don’t really want your leach to become too acidic as it starts turning into gas, which is not good for anyone working there.
So, that’s a recent development and obviously a space that we haven’t really looked at but obviously, it’s something now that’s come to us, so we’ll definitely have a look at that. So, at the moment, copper belt as well as Zimbabwe.
Q3: Finally, what’s the current status of Firering Strategic Minerals’ ownership at stake in Limeco?
A3: We’ve now gone up to over 20% and with this recent payment that we’ve made, and as well as we still have the option to go to another to get another 25%.
