London Stock Exchange welcomes Firering Strategic Minerals plc to AIM
Firering Strategic Minerals plc is an exploration company which is focussed on becoming a significant global and ethical sourced supplier of strategic minerals required for the transition to net zero including lithium and columbite-tantalite – supplying EV, high tech electronics and other fast-growing markets.
Firering is delighted to commence trading on AIM, under the ticker FRG and ISIN CY0109692117. As part of the Admission process, the Company has raised gross proceeds of £4.0 million through the issue of 30,769,230 Placing Shares priced at 13p, giving a market capitalisation of £11.3 million on Admission.
The Company’s strategy is to use the funds raised from the IPO to continue exploration at the flagship Atex Lithium-Tantalum Project and establish a pilot plant with the aim of becoming a significant producer of strategic minerals sourced in a non-conflict region. Firering intends to continue exploration on its principal Atex Project, including a 2,000m auger and 7,000m diamond drilling programme, to develop unlock its significant lithium and columbite-tantalite resource potential. In tandem, the Company plans to commence pilot production in areas of high columbite-tantalite results. Should pilot production prove successful, the Company intends to significantly increase the scale of production and is in the advanced stages of arranging a debt facility of FCFA 5,057,000,000 (approximately €7,500,000) which will fund the entire initial scale up plan.