This company is a holding company for a group of exploration and development companies set up to focus on developing assets towards the ethical production of critical metals such as Lithium and Coltan-Tantalum-Niobium in the Côte d’Ivoire.
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Dose anyone have any insight on fire ring please, and dont say “a good curry” lol
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This one kept up today: any ideas why?
Nope, but I’m glad I bought some at 0.065
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(Alliance News) - Firering Strategic Minerals PLC on Wednesday announced it has entered an agreement with Australian diversified minerals company Ricca Resources Ltd to help advance its lithium projects in the Ivory Coast.
Ricca will invest up to USD18.6 million to fund the progression of the Atex Lithium-Tantalum Project and its adjacent Alliance exploration licence, the Ivory Coast-based critical minerals exploration company explained.
Shares in Firering were up 35% at 11.68 pence at midday Wednesday in London.
Firering explained the funding will allow it to fast-track the exploration of the project and secure funding for its development pathway, which will include a maiden mineral resource estimate and a definitive feasibility study.
The investment includes a USD1 million cash consideration, USD600,000 in Ricca shares, and funding of USD17 million.
A further USD2 million investment from Ricca will be paid if the project’s maiden mineral resource estimate exceeds 20 million tonnes at 1.0% lithium oxide.
Any additional expenditure will be funded equally between Firering and Ricca.
Under the agreement, Ricca also has the right to acquire up to a 50% interest of Firering interest in the Atex and Alliance projects - which currently stand at 77% of Atex and 51% of Alliance - through a four-phase earn-in.
Chief Executive Yuval Cohen said: “The Atex Lithium-Tantalum Project has consistently demonstrated potential to be Côte d’Ivoire’s first lithium mine. Our partnership with Ricca will help to bring this to fruition and our combined expertise will support an accelerated exploration pathway.”
“The investment by Ricca will reduce our funding risk through studies and towards production. The partnership also reduces capital costs and brings with it the support of a management team at Ricca with highly relevant recent experience developing a West African lithium asset.”
By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
I also own some Ricca via the iron ridge demerger. I have a feeling they will list that on the ASX though and freetrade will do a forced sale…
Now officially the cheapest funded lithium play on LSE.
$18m funding in place for work to take resource to DFS stage. Funding from Ricca which is Atlantic Lithium spin off.
“Firering intends to advance development at Atex with a view to establishing a maiden Lithium resource and a pilot scale production of ethical tantalum and niobium production within 18 months to generate early revenues and support further exploration work.”
Imagine finding kod or prem or all at £6m market cap. Worth a dig into here for any researchers
I wouldn’t ignore this at £7m m/c!
A fully funded work program to the tune of $18m for an earn in of 50% of the resource, even at such early stage- it is essentially being valued at $36m by partner Ricca (Atlantic lithium).
The work will increase value exponentially. Check the drill results. In the top 10 globally.
Literally cheapest funded lithium project on London markets.
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Really interesting list and thank you for sharing but I have to admit I dont understand the context (last three columns). Could you possibly elaborate?
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It’s the depth of the drill and lithium grades at that point in percent terms.
Basically they’re decent grades. Up with some of the best.
This is a cracking little early play to tuck a few away in. All work until DFS stage is funded by Ricca resources- $18m … If they’ve agreed to value their earn in on asset at $18m now- without further work, then that’s putting a $36m valuation on whole thing, market cap is sub $10m
Add a tiny bit and be patient
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Most helpful! Thank you for the context
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Cracking price to tuck a few away at here. Sit on them for 12 month and see where you’re at
I appreciate your input. Im definitely talking your advice on this one and a plethora of other lithoum mining stocks. I always wonder about the differences between Firering, prem, kod, atlantic (all of which I hold), beyond the various stages of development. There appears to be a growing geopolitical divide in this sector of speculative mining. And a whole lot of difference depending on a gradong system - on which I am winging it vis a vis a useful understanding!
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They have more than lithium, and are looking to get a pilot production in operation - in addition to the Lithium JV. Really is cheap here if they pull all this off.
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Looking strong again. Still the most undervalued lithium play on LSE
Some good results on rns from drilling survey
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Yeah, it’s very early stage but that’s reflected in the market cap. Holding mine as this work program is funded and who knows where it could be in 12 month 
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Interesting development this production opportunity. Adds a bit value if all goes to plan.