IN BRIEF: Firering loss widens as focused on generating revenue
Firering Strategic Minerals PLC - Zambia and Ivory Coast-focused mining company - Pretax loss widens to €1.0 million in the six months to June 30, from €654,000 a year prior. General and administrative costs decrease to €518,000 from €578,000. Firering notes a cost of €272,000 regarding revaluation of derivates, compared to no such cost a year prior. The company notes a ‘strong’ demand pipeline with buying interest across all product categories and further product lines under evaluation.
Looking ahead, Chair Youval Rasin says: ‘Firering has made decisive progress over the past six months, moving Limeco from remedial work into operational production, recording its first quicklime sales, and demonstrating the viability of our strategy. Leveraging the operational experience from the optimisation of the first kiln, we expect an expedited route to full commercial production for the subsequent kilns, enabling us to establish Limeco as a key supplier of quicklime to the region and generate substantial revenues.’
Current stock price: 1.65 pence, down 2.8% on Monday
12-month change: down 50%
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