Firering Strategic Miner... Share Discussion Threads

[lord buffett] 19/7/2023 13:01

Indeed Septblues,

You can buy about 220 Firering's for the price of Piedmont, and Firering have a massive spodumene resource in Cote D'Ivoire, which also contains valuable Tantalum and Niobium - it's a strange game, but therein lies the value!

[septblues] 18/7/2023 10:05

Piedmont Lithium with Spodumene concession in Ghana and zero revenues valued at $1bn

[andyview] 11/7/2023 08:30

Long time on the sidelines here but accumulating a few more now

Gla

[peter437] 09/7/2023 21:51

Looks interesting, but a bit early stage

[apotheki] 22/6/2023 10:36

Firering Strategic Minerals (FRG LN) 7.4p, Mkt Cap £6.6m – Soil anomalies encourage auger drilling programme at Atex Lithium-Tantalum Project, Côte d'Ivoire

Firering reports the completion of its large-scale Phase II soil sampling programme at its Atex Lithium-Tantalum Project in Côte d'Ivoire.

Firering is exploring the project alongside Ricca Resources*, which holds an option to acquire up to 50% of Atex after a $18.6m investment to progress the project towards DFS.

The JV undertook grid soil geochemistry and mapping, which identified six high-priority soil anomalies and a north-north-east striking orientation in line with previous mapping of outcropping pegmatites.

Soil anomalies identified by the JV lie adjacent to the Spodumene Hill occurrence, where drilling hit an oblique intersection of 64m apparent width @ 1.24% Li20, 25m @ 1.39%.

The anomalies hold Li, Rubidium and Niobium anomalies, which suggest ‘the presence of fractionated pegmatite.’

As a result of the encouraging soil anomalies, Firering and Ricca have planned 11,000m of Phase 1 auger drilling over a 160 x 20m grid.

Upon a successful Phase 1 auger programme, the Companies will look to undertake an 80 x 20m grid to define drill targets.

Firering and Ricca are aiming to develop a maiden lithium resource at Atex alongside building a tantalum/niobium pilot scale production plant for early revenues to fund exploration.

*Ricca Resources was spun out from Atlantic Lithium* and is looking to list on the ASX. *SP Angel acts as Nomad to Atlantic Lithium

[southernsong] 19/6/2023 09:00

This went oversold on the RSI last week so we might see the price firm a little bit over the coming sessions. Great time for an update from the company if they have anything positive to report. The final batch of soil sampling results is still to come and confirmation of the P11 auger drilling has begun would be most welcomed.

Personally I think they have probably already started drilling.

There seems to be a lag here between action on the ground and RNS'ing....but perhaps that's just my interpretation of events.

It's a very quiet stock with potentially a lot to come in H2 of this year. A scenario I generally like.

There are so few shares available that if P11 operations do brings some good results we should be in for a pretty much immediate rerate imo. The share price has eased into the 'add zone' for me.....just looking for some signs from the company re. P11.

All eyes on larger buy volumes arriving over the coming weeks.

GLA.

AIMO etc

[southernsong] 30/5/2023 10:13

Brilliant, thank you LB.

[lord buffett] 30/5/2023 09:43

This link might work:

[lord buffett] 30/5/2023 08:57

SouthernSong, it displays fine for me in Microsoft Edge on my PC, but that probably doesn't help you. They will release the RNS in pdf format on the website in due course, but again that doesn't help much.

My summary of the lithography mapping is that it's revealed further pegmatite deposits to the north, south, east and west of the three zones they originally drilled.

Especially interesting to me is that the pegmatite appears to extend southward into the adjacent Alliance licence area, which could be huge, but which is currently completely unexplored, afaik.

Anyway, in summary, it looks like there's a lot of pegmatite around.

[southernsong] 30/5/2023 07:54

Further auger drilling to commence very shortly it seems.

Not sure how it displays for others but I seem unable to view the maps referred to in the RNS? I've tried looking on a couple of browsers. Can anyone else see them?

TIA.

[southernsong] 30/5/2023 07:52

Firering Strategic Minerals PLC Phase II Soil Sampling Programme Completed
30/05/2023 7:00am
UK Regulatory (RNS & others)

Firering Strategic Miner... (LSE:FRG)
Intraday Stock Chart

Tuesday 30 May 2023

Click Here for more Firering Strategic Miner... Charts.
TIDMFRG

RNS Number : 8634A

Firering Strategic Minerals PLC

30 May 2023

Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

30 May 2023

Firering Strategic Minerals plc

("Firering" or "the Company")

Phase II Soil Sampling Programme Successfully Completed

14,116 samples sent to Ghana for pXRF and LIBS analysis

Firering Strategic Minerals plc, an exploration company focusing on critical minerals, is pleased to announce the successful completion of its large-scale Phase II Soil Sampling Programme at its flagship Atex Lithium-Tantalum Project ("Atex"), in Côte d'Ivoire. The Phase II Programme was undertaken in conjunction with Ricca Resources Limited ("Ricca") following its US$18.6 million investment to advance Atex to Definitive Feasibility Study ("DFS") announced on 2(nd) November 2022.

Highlights:

-- Soil sampling programme completed; 14,116 soil samples taken, prepared and sent to Ghana for analysis by portable x-ray fluorescence spectrometry ("pXRF") and Laser Induced Breakdown Spectrometry ("LIBS");

-- Results for batches 1 to 7 and part of batch 8 (a total of 6,205 samples) received and plotted;

-- Several new and related pegmatite anomalies identified in the Atex licence area confirming areas of interest for auger drilling;

-- Final soil analysis and mapping to be concluded in the coming weeks to fine tune the auger drilling programme;

-- Coremet submitted its first draft report for the coltan test work concluding good response to magnetic separation and gravity concentration.

Yuval Cohen, Chief Executive of Firering, said:

"I am very pleased to announce that, after partnering with Ricca, we now have successfully completed our Phase II soil sampling programme, which commenced on 09 January 2023. A total of 14,116 soil samples were taken, prepared and sent to Ghana for pXRF and LIBS analysis. It is very encouraging that several pegmatite related anomalies have been identified, which will be considered as target in the next phase of auger drilling which will commence shortly.

"I am also pleased to announce that Cormet completed the coltan test work and submitted its draft report on 15 May 2023. Coremet's test work indicated that the material can be concentrated and resulted in an initial flowsheet for a gravity plant."

Soil Sampling

Phase II of the Atex soil sampling programme commenced on 9 January 2023 and was completed on 11 May 2023. A total of 14,116 soil samples were taken, prepared and sent to Ghana for pXRF and LIBS analysis (see Map 1 below). The results received have been interpreted and plotted for batches 1 to 7 and part of batch 8 (see Map 2 below). A further 7,911 results are pending, representing the remaining part of batch 8 and batches 9 to 11.




Map 1: Atex licence area, showing the completion of the Phase II soil sampling programme.




Map 2: Atex licence area, showing the lithium results from the LIBS analysis for batches 1 to 7 and part of batch 8; pXRF results for this area have also been received.

Coremet Test Work

High level test work undertaken by SGS/Coremet in Johannesburg, South Africa showed that:

-- The mineralogical analysis of the material indicated that all the tantalum and niobium is contained in Columbite;

-- The overwhelming majority of tantalum and niobium occurs in highly liberated Columbite particles; and

-- The material responded well to magnetic separation and gravity concentration.
Although further test work is required to produce a commercial concentrate, Coremet was able to develop an initial flow sheet for a gravity plant that needs to be tested to validate recovery values. Further exploration is also needed to assess the economic potential of the coltan mineralisation within the licence area.

Competent Person

In accordance with the AIM Note for Mining and Oil and Gas Companies, Firering discloses that Michael Cronwright of CSA Global is the Competent Person that has reviewed the technical information contained in this document related to the exploration results. Michael Cronwright has a Pr.Sci.Nat with the South African Council for Natural Scientific Professions ("SACNASP") and is a member in good standing with SACNASP. Mr Cronwright has the appropriate relevant qualifications, experience, competence and independence to act as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Michael Cronwright consents to the inclusion of the information in this announcement in the form and context in which it appears.

[apotheki] 30/5/2023 07:30

Yuval Cohen, Chief Executive of Firering, said:

"I am very pleased to announce that, after partnering with Ricca, we now have successfully completed our Phase II soil sampling programme, which commenced on 09 January 2023. A total of 14,116 soil samples were taken, prepared and sent to Ghana for pXRF and LIBS analysis. It is very encouraging that several pegmatite related anomalies have been identified, which will be considered as target in the next phase of auger drilling which will commence shortly.

"I am also pleased to announce that Cormet completed the coltan test work and submitted its draft report on 15 May 2023. Coremet's test work indicated that the material can be concentrated and resulted in an initial flowsheet for a gravity plant."

[southernsong] 24/5/2023 23:22

FireRing Strategic Minerals
@FireRing_SM
·
10h
Our partnership with
@RiccaResources
will help to bring our project to fruition and our combined expertise will support an accelerated exploration pathway

[lord buffett] 23/5/2023 16:23

Ricca are committed to funding Firering to the tune of $6.1m up to the end of Phase I of their agreement with Firering, as detailed in Firering's recent RNS entitled 'US$18.6m Investment to Advance Firering Lithium Projects through to DFS Stage'; Phase I covering up to obtaining the JORC mineral resource estimate (MRE).

This is the first of four planned phases by Ricca to earn-into Firering's Atex/Alliance lithium project, whereby Ricca are fully funding the project up to the DFS stage, with NO funding required from Firering themselves.

(WRT Ricca, there is a video presentation our there relating to their private fundraising and upcoming public IPO plans featuring Stu Crow, Chairman of Ricca Resources, from February this year.)

[ukgeorge] 23/5/2023 13:01

Any ideas on how far off is the MRE?

And how long until Phase 2 is complete?

I'm a Ricca shareholder. They are trying to raise again. So wondering if they have enough funds to get to end of phase 2.

[lord buffett] 23/5/2023 12:28

Regarding the Phase 2 sampling work at Atex, it was interesting to me that they started the sampling at the southern end of the sampling grid, where the Atex licence area borders the Alliance licence area, and also that they pretty much immediately stated that they had located two new pegmatite zones to the east and the west of the main strike.

I'm assuming that these pegmatite zones would extend southwards into the Alliance licence area, in which they already own a 51% controlling stake, but more interestingly have the option to increase to 80% at their discretion.

The company have not said anything much about this, but have hinted at it. I would also expect that, at the very least, they would have had a wander around, picked up the odd rock and dug the odd hole, hence have an initial idea as to its 'highly prospective' nature.

We don't really know how long it will take to have the 2,400-odd samples they recently collected to be analysed, or the format in which they'll choose to present the results, but I'm also looking for any indication that they're going to increase their stake in Alliance, as this would potentially give the project huge scale.

Firering and Ricca have already/previously referred to Atex as the 'Atex/Alliance project', so this would be a natural progression, I guess.

[southernsong] 23/5/2023 10:37

210K buy: the first half-decent buy for a little while at FRG.

It has been a very quiet period recently - both in newsflow and trading.

We must be moving very close now to an update on P11 work at Atex.

Thoughts?

[altom] 15/5/2023 09:05

Thank you, gentlemen, for your excellent posts in the last day or so. Pleasure to read here with no childish swearing and name calling. Just sensible exchange of opinions and information. Atlantic, FRG and Bradda make an interesting trio. I have made a bit in Pilbara but nearly sold out now. To reliant on China. Disappointed in Vulcan but still holding and watching.
Keep the chat coming !

[septblues] 15/5/2023 08:22

SouthernSong and Lord Buffett

Thank you, I agree with your assessments.

[southernsong] 14/5/2023 16:15

See FRG's most recent tweet, for a reiteration of the significant intercept during the P1 drill.



FireRing Strategic Minerals
@FireRing_SM
·
May 10
These first assay results from our scout drilling at Atex show the first significant intercepts, including 64m, grading 1.24% Li2O

This is exceptional & amongst the best intercepts recently reported by our global peers and confirm the presence of lithium in our pegmatite system

[southernsong] 14/5/2023 16:09

Good post Lord Buffett and we agree on the valuation rationale.

The funding to DFS via Ricca (Ricca themselves are openly bullish on FRG's Atex project) is certainly reassuring.

The gulf in the valuations of the two companies, vs where they each stand on the progress front, is striking.

I have little doubt that if the PII soil sampling leads to a strong drilling round, the shares will realise significant upside.

But as I've already posted, THAT scenario is still speculative.

I've been adding at around the lows and, so long as the potential remains, will probably add a few more on any further drift.

NAI and ADYOR etc

[lord buffett] 14/5/2023 16:01

Septblues, I personally believe that Firering is the much better investment for a number of reasons.

The main reason is one of pure value - Firering is currently about 27 times cheaper in terms of market cap compared to Atlantic, and it won't take much for Firering to multi-bag and still be on a relatively low valuation.

However, Atlantic is a year or two further down the track in terms of where they are, but have still not quite reached the DFS stage, but Firering is effectively fully funded to DFS via Ricca's recently announcement $18.6m funding/investment.

I note that you used the term 'investment', which is what I consider Firering to be; the big money will be made here by buying and bottom-drawing; I'm confident that great things will come to those with the patience to hold.

Interestingly Neil Herbert, who is associated with and invested in both companies, draws a lot of parallels between the two companies' projects.

Another interesting plus point relating to Firering, which Atlantic doesn't have, and which Neil is particularly excited about, is they have a high-quality/high-value tantalum/coltan resource occurring alongside the lithium in the spodumene pegmatites; in fact he considers this to be just as interesting as the lithium resource itself, as it's a much scarcer and more valuable critical battery mineral. (Furthermore, it's in huge demand as it's classed as 'conflict-free', unlike much of the world's tantalum supply.)

[southernsong] 14/5/2023 16:00

FRG mkt cap £7.2M, just 89M shares in issue, 41% of which are not in public hands.

The stock moves up rapidly on any buying support.

If the company can point to proving up a major lithium resource there is terrific upside from these levels.

Atlantic Lithium: Mkt cap £191M, but more advanced.

[southernsong] 14/5/2023 15:51

septblues...we could have a discussion about that, but it would take longer than I've got this afternoon.

Briefly, I think it is the present lowly mkt cap at FRG vs the near term potential of material uplift in value which makes it a compelling play, although I also accept it remains highly speculative.

The company is currently undertaking P11 soil sampling after a generally successful P1 drilling round. In particular this P1 drilling round produced one grade of international significance (see the relevant RNS).

The company subsequently increased its interest in the project to some 90% and noted that it was an 'easy decision' to do so.

If the PII ops are successful the present mkt cap will be too low for the mkt to ignore imho.

Updates are due....but I caution it does remain a speculative play.

AIMO and ADYOR etc