Firering Strategic Minerals’ Limeco awarded additional exploration licence

Firering Strategic Minerals plc (LON:FRG), an emerging quicklime production and critical mineral exploration company, has announced that Limeco Resources, which is developing a significant quicklime project in Zambia towards first production in Q4 2024, has been awarded a 392.51 hectare exploration licence adjacent to its current licence.

Highlights

·    Potential to increase Limeco’s already significant Mineral Resource Estimate (MRE) by between 60 to 70 million tonnes (Mt) at similar grades.

·    Further strengthens Limeco’s already robust economics currently based on producing 600-800 tonnes of quicklime per day for an estimated 30 years.

·    Enables Limeco to scale according to demand in line with Zambia’s goal of significantly boosting copper production.

·    Production of quicklime commencing soon with the first of eight kilns coming on stream during Q4 2024; ancillary revenue streams already contributing positive operational cashflow.

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