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The latest update is out from Firering Strategic Minerals Plc ( (GB:FRG) ).
Firering Strategic Minerals has strengthened its balance sheet with a US$1m debt settlement from Ricca and a £0.86m equity fundraising via a placing and subscription, largely backed by existing shareholders, to fund working capital, tax obligations and its share of Limeco operating costs as it seeks to increase its interest in the Zambian lime producer. The fresh capital underpins an aggressive ramp-up at Limeco, where Kiln 1 is running reliably, Kiln 2 is due for cold commissioning in mid-January, and refurbishment of Kilns 3 and 4 is set to follow, while the operation broadens its higher-margin product mix into hydrated lime and a >95% CaCO3 limestone powder expected to command significantly higher prices, supported by accelerating commercial traction and negotiations with potential long-term industrial customers.
More about Firering Strategic Minerals Plc
Firering Strategic Minerals plc is an AIM-quoted mining company focused on producing lime products and exploring critical minerals. Its flagship asset is Limeco Resources in Zambia, which operates a quicklime and hydrated lime business underpinned by a Tier 1 JORC-compliant limestone deposit, supplying the mining, food and industrial sectors.
Average Trading Volume: 827,498
Technical Sentiment Signal: Sell
Current Market Cap: £4.79M
Find detailed analytics on FRG stock on TipRanks’ Stock Analysis page.