Firering Strategic Miner... Share Discussion Threads

[karimgrant] 12/12/2024 11:06

Looking good!

[cyberbub] 12/12/2024 08:50

I would think that a Zambian bank will probably want to see at least 2 of the kilns online and producing revenue before they release a $7m loan, to make sure that Firering has enough revenues to pay at least the interest on the loan... Which at an assumed 10% will be $700,000 p.a.

[cyberbub] 12/12/2024 08:47

They are *applying* for a non-dilutive loan... That's essentially where the returns are for FRG shareholders - probably 20-25p if they achieve a fully non-dilutive loan, or 10-12p (which is still a good return TBF) if they fail and have to raise the money to get to 45% through equity.

[mr.oz] 12/12/2024 08:34

Unlikely seeing as the company already RNSd amd said they are arranging non dilutive funding

[bsg] 12/12/2024 08:28

These 75k chunks that keep appearing, could it signal pre-selling for a placing?

[lithian72] 12/12/2024 08:09

If a buying opportunity presents itself in the meantime.....

[lithian72] 12/12/2024 08:02

Great posts guys and a great update from FRG.

An attentive and serious BOD for sure. Good to see. The reporting has been excellent.

altom - that valuation is refreshing in that it is conservative....deciding to go with the lower end quicklime price.....but still represents a 260% uplift from where we're at. Plus it is for FY2025.....and not FY26....after which up to 8 kilns could be operative.

This will get strongly tipped as we move into 2025 and I fully expect a 30p share price to be smashed as more and more kilns are brought on stream next year.

Buy. Hold. Patience imho.

[altom] 12/12/2024 07:46

Thanks someuwin. Perhaps my 50p was somewhat optimistic. Shard say 37.3p unrisked.
How about 30-35p. I would be very happy with that.

[someuwin] 12/12/2024 07:35

New Research note out from Shard Capital.

2025 target price 16.7p. (Un-risked valuation equivalent to 37.3p)

"FRG currently has an 16.7% interest in Limeco and will increase this to 20.5% in April 2025 following a further consideration of c.$1m. On top of this, FRG has entered into an option agreement to acquire a further 24.5% for $4.6m. Assuming FRG acquires the collective 45% interest, our base-case post-tax FY2025F valuation for FRG is £30.9m or 16.7p per share, representing a 260% increase to the current share price. Our un-risked DCF-derived NPV for Limeco is £68.7m using a 10% discount rate and a quicklime price of $175/t.

We expect a re-rating of the stock as the kilns become operational. In the meantime, we look forward to production from the first kiln early in the new year and highlight that Limeco is ideally situated to benefit from the rising quicklime demand driven by Zambia’s growing copper market."

[altom] 12/12/2024 07:29

Once again Yuval and Board have come up to scratch. Very refreshing in an AIM company. 2025 should be a great year for FRG. 50p bid ?

[mr.oz] 12/12/2024 07:18

Commissioning progressing at a pace this month, for this exciting project, as has always been expected. Production thereafter.

Quality mgmt.

[someuwin] 12/12/2024 07:18

Quicklime Operational Update

Key milestone achieved with the commissioning of Kiln 1

Firering Strategic Minerals plc, an emerging quicklime production and critical mineral exploration company, is pleased to announce an operational update with regards to its quicklime project in Zambia ("Limeco") where commissioning of the first of eight kilns has commenced.

HIGHLIGHTS

· Final modifications to Kiln 1 completed at the end of November 2024.

· Commissioning of Kiln 1 commenced with test runs; production of first quicklime to be expected in a matter of weeks following the new year.

· Kiln feed, comprising the -90mm to +60mm size fraction, has been stockpiled near the lime plant, with a total of ~26,000 tonnes currently available for processing.

· Limeco continues to deliver monthly operational positive cashflow with aggregate production from the minus 60mm stream continuing to contribute.

Yuval Cohen, Chief Executive of Firering, said: "We are pleased with the excellent progress at Limeco, highlighted by yet another key milestone achieved with the commissioning of Kiln 1. Furthermore, the construction of the gasifier is nearing completion. This is an exciting but busy period for Limeco as it gears up for steady quicklime production from its first kiln while advancing efforts to bring the remaining seven kilns online in phases during 2025. These achievements are set to establish Limeco as potentially Zambia's largest quicklime producer."

[someuwin] 11/12/2024 15:54

Nice rebound.

[someuwin] 11/12/2024 10:21

All on track. With nice little video here

FireRing Strategic Minerals @FireRing_SM ·1h

Limeco's quicklime project remains on track for phased commissioning to start in Q4 2024

#FRG #Quicklime #Production

[cyberbub] 09/12/2024 23:23

No, I just don't want to overpay at a peak. I can see the investment case here in theory, strong economics, plant just starting to come online, many years of resource etc. I just want to be clear on the risks that's all.At 5p the investment case depends on them raising the non-dilutive debt they've said they will, to get to 45% holding. I have no idea whether a Zambian bank will lend them $7m Possibly they will, but it's a large %age of the current market cap. FRG don't have much cash, and the bank may ask for a placing of $2m say, to reduce the risk to their loan. That's fairly standard in funding packages (same as domestic mortgage deposits etc).Still keeping an eye on this.

[lithian72] 09/12/2024 18:51

Of course he is.

Disingenuous from his very first post a few weeks ago.

Clearly wants in at a lower price.

Yawn.

[basem1] 09/12/2024 16:30

Cyber is just talking his own agenda

[mr.oz] 09/12/2024 16:22

Non dilutive funding RNS just a few days ago

[cyberbub] 09/12/2024 13:51

By my conservative calculations, at 5p the company is currently valued roughly correctly based on its current 16.7% holding... Assuming the forecast output from 8 kilns is actually achieved... Of course it will be much higher if it gets 45%... But will they manage to successfully raise the debt to get to 45%? A fundraise for $7m at the current market cap would obviously not be great...

[lithian72] 06/12/2024 11:13

Thanks guys.

That's been viewed over 1000 times already today.....impressive.

[someuwin] 06/12/2024 10:35

FireRing Strategic Minerals @FireRing_SM ·22m

Installation of discharge and slide gates as well as vibro feeder at Kiln 1 is nearing completion

#FRG #Quicklime #Production

[basem1] 06/12/2024 10:33

Thanks Mr OZ Should get an RNS next week

[mr.oz] 06/12/2024 10:29

Commissioning looking really good
Almost over the line

[someuwin] 06/12/2024 10:13

Can buy £6k. But not £7k.

[basem1] 05/12/2024 12:46

Plus 150 at 4.97 for me too