Firering Strategic - Quicklime Operations Update

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

19 September 2025

Firering Strategic Minerals plc

("Firering" or "the Company")

Quicklime Operations Update

Building quicklime production following successful upgrades

Firering Strategic Minerals plc (AIM: FRG), an emerging producer of quicklime and explorer of critical minerals, is pleased to provide an operational update for its Zambian quicklime operation, Limeco Resources Limited ("Limeco").

HIGHLIGHTS

·      Kiln 1 was successfully upgraded with a new Induced Draft ("ID") fan motor, to achieve a stable throughput of 45-50 tonnes per day ("tpd").

·      Refurbishment of Kiln 2 underway with hot commissioning targeted in the coming months and Kilns 3 and 4 to follow, applying operational learnings to optimise efficiency and performance.

·      Strong demand pipeline with buying interest across all product categories, supporting additional kilns coming online.

·      First sale of lower-grade quicklime, creating value from previously unsaleable material.

·      In-house salesperson appointed with extensive Zambian quicklime experience; further product lines under evaluation for local and regional markets.

·      Mining Licence awarded; operations planned to start during Q4 2026 once the existing stockpile that is currently being drawn from is close to depletion.

Yuval Cohen, Chief Executive Officer of Firering, commented: "We are delighted with the progress at Limeco, which gives us confidence as we roll out the plan to bring further kilns online. A strengthening sales pipeline with a more diverse product range firmly puts Limeco on track to become a leading supplier of high-quality quicklime to the region."

DETAILS

Firering remains focused on scaling up production at Limeco, which is targeting output of between 600 and 800 tonnes of quicklime per day across its eight-kiln plant.

First production from Kiln 1 was achieved in Q1 2025 (see RNS dated 27 February 2025), reaching approximately 40tpd before being taken offline on 19 July 2025 for scheduled maintenance and performance upgrades. During this period, Limeco completed several enhancements, most notably the installation of a new ID fan motor and Variable Speed Drive ("VSD") to improve operational efficiency and reliability. Kiln 1 was successfully re-fired in early August, achieving full operational temperature as planned, and has since stabilised at approximately 45-50tpd of kiln material produced.

Work on Kiln 2 refurbishment is underway with final equipment being shipped from India and hot commissioning on track over the coming months. Building on the operational experience from Kiln 1, enhancements are being implemented in Kiln 2, which, once proven, will be rolled out across the remaining kilns, including Kiln 1, ensuring smoother ramp-ups and improved performance for all.

Alongside operational progress, Limeco's commercial pipeline continues to strengthen. Buying interest is strong, with demand sufficient to support the additional kilns coming online, and importantly, Limeco now has buyers across all product categories. This was highlighted by a recent sale to a trader for both higher and lower-grade quicklime marking the launch of a new revenue stream from material previously considered unsaleable. To accelerate growth, Limeco has appointed an in-house salesperson with extensive quicklime experience in Zambia, while further product lines for both local and regional markets are under evaluation.

Feedstock for Kiln 1 has been drawn from a stockpile exceeding 150,000 tonnes. Looking ahead and having secured a Mining Licence for its Tier 1 limestone deposit, Limeco plans to commence mining during Q4 2026, once the existing stockpile that is currently being drawn from is close to depletion. The Mining Licence is valid for an initial 10-year term with renewal provisions and encompasses the entire area containing Limeco's JORC-compliant Mineral Resource Estimate of 145.2 Mt at 95.7% CaCO₃ (Earthlab, November 2024, see RNS dated 27 November 2024). The resource comprises 11.8Mt Measured, 55.4Mt Indicated, and 78.0Mt Inferred, providing sufficient reserves to support over 50 years of quicklime production.

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Notes

Firering Strategic Minerals plc (AIM: FRG) is an emerging producer of quicklime and explorer of critical minerals. The Company is currently focused on ramping up production at the Limeco quicklime project in Zambia, where it holds a 26.9% interest with an option to increase this to 45%. Targeting daily output of 600-800 tonnes, Limeco is positioned to supply copper producers operating within the Central African Copperbelt and other regional industries that currently rely on imported quicklime from South Africa. Additionally, Firering is progressing the Atex Lithium-Tantalum Project in northern Côte d'Ivoire, a highly prospective asset with significant lithium and tantalum-niobium potential, supporting the global shift to clean energy technologies