Firering Strategic Minerals signs logistics services revenue agreement at Limeco

Firering Strategic Minerals plc (LON:FRG), a development company focusing on critical minerals, has announced that an agreement with a multinational commodity trading company has been signed, which will provide a logistics services revenue stream at Limeco, its advanced quicklime project in Zambia.

Highlights

·    Two year agreement providing expected revenue of US$600-720k per annum.

·    Cash flow supporting commencement of core quicklime commissioning and first production in Q4 2024.

·    Agreement means Limeco is producing positive operational cashflow even before start of core quicklime production in Q4 2024.

·    Negotiations ongoing with major copper producers for the sale of quicklime.

·    Aggregate sales began in Q4 2023 with further offtake agreements expected as operations ramp up in the coming months.

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