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.

Quick facts

Track
Market: AIM
Instrument market cap (£m)
11.60
Listing/Admission to trading
12 Nov 2021

Firering Strategic Minerals’ Chief Executive, Yuval Cohen, has commented that:

“We are delighted with Firering’s admission to the admission to AIM, the successful completion of our IPO represents the beginning of a new chapter for the Company and supports our strategy to capitalise on future growth opportunities in strategic minerals. The listing offers investors the opportunity to get some ‘skin in the game’ in the race to net zero as an explorer of ethically sourced, critical minerals needed for the energy transition including lithium and tantalum. The combined, considerable experience of our Board, places us in a strong position to generate value for our shareholders."

List of advisors

  • Directors: Youval Rasin (Non-executive Chairman), Yuval Cohen (Chief Executive Officer), Timothy Daniel (Chief Financial Officer), Neil Herbert (Non-executive Director), Vassilios Carellas (Non-executive Director), Ofra Chen (Non-executive Director)
  • Company Secretary: Fidapoint Secretarial Limited
  • Nominated Adviser: SPARK Advisory Partners Limited
  • Broker: Optiva Securities Limited
  • Reporting Accountants: PKF Littlejohn
  • Legal Advisers to the Company: Hill Dickinson LLP
  • Company’s Cote D’Ivoire Legal Advisers: Brizoua-Bi & Associés
  •  Company’s Cyprus Legal Advisers: ZK Krokou & Associates LLC
  • Legal Advisers to the Nominated Adviser and Brokers: Fasken Martineau LLP
  • PR & IR adviser: St Brides Partners
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