Firering Strategic Minerals reports 2023 results and Limeco acquisition update

Firering Strategic Minerals plc (LON:FRG), a development company focusing on critical minerals, is pleased to announce its Final Results for the year ended 31 December 2023.  

OVERVIEW

·    Successful alignment of near-term revenue objectives with evolving commodity markets through the acquisition of an initial 20.5% of Limeco Resources Limited (“Limeco”) post period end:

o  Limeco owns an ex-Glencore limestone project with historical spend of over US$100m in Zambia which demonstrates immediate growth potential and significant cash flow prospects

o  Quicklime is an essential component in various industries including copper production, steel manufacturing, construction, and environmental management

o  c£2 million raised post period end to commence funding the acquisition of an initial 20.5% of Limeco, as well as finance the recommissioning of the lime plant and ramp up of its operations

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