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Firering Strategic Minerals Plc ( (GB:FRG) ) has shared an update.
Firering Strategic Minerals plc has announced a successful placing and subscription to raise £1.01 million, which will be used to increase its stake in Limeco Resources Limited, a company with significant quicklime production capabilities in Zambia. The funds will cover the first two tranches of an option to acquire a larger interest in Limeco, allowing Firering to expand its influence in the quicklime market, crucial for the copper and industrial sectors in the region. The company is also progressing with infrastructure upgrades and operational enhancements at Limeco, including the refurbishment of kilns and improvements to production processes, to meet growing market demand and enhance output efficiency.
More about Firering Strategic Minerals Plc
Firering Strategic Minerals plc is an emerging producer of quicklime and an explorer of critical minerals. The company is focused on the mining sector, specifically targeting the production and exploration of minerals essential for industrial markets, with a particular emphasis on the Southern and Central African regions.
Average Trading Volume: 1,297,290
Technical Sentiment Signal: Sell
Current Market Cap: £3.5M
For an in-depth examination of FRG stock, go to TipRanks’ Overview page.