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Final Limeco Option Tranche & Operations Update
Firering Strategic Minerals PLC has exercised its final option tranche, increasing its interest in Limeco Holdings Limited to 45%, reflecting confidence in the operation's growth potential. Limeco's Kiln 2 averaged approximately 85 tonnes per day, and while the gasifier is temporarily offline for Kiln 3 connection, hot commissioning is expected mid-July 2026, with Kiln 4 modifications underway for Q4 2026 commissioning. Hydrated lime sales from existing inventory will continue, supported by an automated bagging system and upgraded material handling. In its latest accounts, Limeco reported a loss before tax of ZMW 222,443,499 (US$8,496,696) on turnover of ZMW 26,296,833 (US$1,004,463), with net liabilities of ZMW 2,867,291,084 (US$102,844,013), including a shareholder loan to which Firering now has a 45% claim of approximately US$47 million. Disclaimer*
About this update from Firering Strategic Minerals Plc
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining 29 June 2026 Firering Strategic Minerals plc ("Firering" or the "Company") Exercise of Final Limeco Option Tranche & Operations Update Firering Strategic Minerals PLC (AIM: FRG), the AIM-quoted industrial minerals company building a strategic lime platform in Southern Africa, is pleased to announce that it has given notice to exercise the final tranche of its option to increase its interest in Limeco Holdings Limited ("Limeco") from 41.7% to 45%. The Company is also pleased to provide an operational update on Limeco as it continues to ramp up production. OVERVIEW · Kiln 2 averaged approximately 85 tonnes per day ("tpd") since 21 April 2026. · Gasifier temporarily shut down to facilitate connection to Kiln 3, with hot commissioning expected to commence in mid-July 2026. · Production and sale of hydrated lime from the existing quicklime inventory to continue. · Automated bagging system and upgraded material handling system for hydrated lime commissioned to improve efficiency and increase output. · Final option tranche exercised, increasing Firering's interest in Limeco from 41.7% to 45%. Youval Rasin, Chairman and Interim CEO, commented: "The exercise of our final option tranche marks another important milestone for Firering, increasing our interest in Limeco to 45% and reflecting our confidence in the operation and its long-term growth potential. This is timely given Limeco's operational performance continues to strengthen. Our focus is now on commissioning Kiln 3 by mid-July, modifying Kiln 4 for commissioning later this year and increasing production across the plant. With a largely fixed cost base, each additional kiln is expected to make a meaningful contribution to earnings." DETAILS Limeco Operations Limeco is a producer of quick- and hydrated lime located approximately 22 km west of Lusaka, Zambia. The operation is underpinned by a 145.2 Mt JORC-compliant limestone resource grading 95.7% CaCO₃, with a negligible stripping ratio and an expected mine life in excess of 50 years. Dewatering of the open pit is progressing as planned, with mining expected to commence during Q3 2026, supporting Limeco's ongoing production ramp-up. The processi...
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