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.
