What’s the story around the 15p spike last November? Is there anybody here that is aware…
Ta
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https://x.com/FireRing_SM/status/1894319552432943372
Last week’s achievements of firing the gasifier and Kiln 1, were significant milestones. The gasifier has been running successfully since 10 February and Kiln 1 will be refired at which point the first quicklime will be produced and announced within days.
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Yuval Cohen, Chief Executive of Firering, commented: “Reaching first quicklime production at Limeco marks a significant milestone in our journey. Our focus now is on steadily ramping up production to full capacity while ensuring the consistent delivery of high-quality quicklime to meet the growing demands of the Central African Copperbelt and Agricultural sectors. We look forward to providing updates on the production ramp-up from Kiln 1 and first quicklime sales in the coming weeks.”
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FRG
Limeco Quicklime Project (Zambia): Firering aims to scale production to 600–800 tonnes per day by late 2025, supplying copper mines that currently rely on costly imports from South Africa. The first of eight kilns is operational, with 50,000 tonnes of feed material stockpiled, signaling progress toward cash flow. Quicklime’s stable demand (used in cement, concrete, and copper processing) could provide steady revenue to fund exploration.
At a recent share price of ~3.6p (April 2025), Firering’s market cap is around £6.64M–£8.27M, this is tiny compared to peers in the lithium or copper space.
Firering Strategic Minerals has been actively pursuing a bank loan in Zambia to fund its Limeco quicklime project.
November 2024, Firering submitted a loan application to a prominent Zambian bank for approximately USD 7.5 million. The goal was to finance the acquisition of a larger stake in Limeco
March 2025, the loan application was reported to be at an “advanced stage,” indicating progress is close for the end of April.
If the loan is secured, it’s non-dilutive, meaning no new shares are issued to dilute existing shareholders. This could boost Firering’s ability to scale Limeco without hurting stock value, potentially driving revenue from quicklime sales as early as 2025. Limeco’s JORC-compliant resource of 145.2 million tonnes (95.7% CaCO3) supports over 50 years of production, making it a long-term cash flow driver if executed well.
The Zambian bank loan is a pivotal catalyst for Firering. Approval could de-risk the Limeco project, positioning Firering as a key supplier in a high-demand market and potentially lifting the stock.
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