TIDMFRG

RNS Number : 0608A

Firering Strategic Minerals PLC

18 January 2024

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

18 January 2024

Firering Strategic Minerals plc

("Firering" or "the Company")

Directorate Appointment and Grant of Options

Firering Strategic Minerals plc, an exploration company focusing on critical minerals, is pleased to announce it has appointed Remy Welschinger as Non-Executive Director with effect from today.

Rémy Welschinger is the Cofounder and President of Viridian Lithium SAS, which is focused on building the first lithium refining and conversion plant in France. Remy was until recently finance director of Arc Minerals Limited, the Zambia-focused copper explorer (and remains as a non- executive director). Up until 2018, he was Head of Commodities Sales in Europe for Deutsche Bank and previously, an Executive Director in the Fixed Income and Commodities division of Morgan Stanley in London.

Commenting on the appointment Yuval Cohen, Chief Executive Officer of Firering, said:

"On behalf of the board I would like to welcome Rémy to the team. He has extensive, relevant commodity experience gained from his role at Viridian Lithium, and African experience from Arc Minerals, making him an ideal addition to our team. I look forward to working closely with Rémy as we continue to advance our work programme at Atex our flagship lithium project in Côte d'Ivoire."

Grant of Options

As part of his appointment package Mr Welschinger has been granted a total of 868,854 options ("Options"). The Options have a term of five years from the date of grant and upon exercise entitles the holder to purchase one ordinary share per Option at an exercise price of 6.5 pence per ordinary share.

Additional information:

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Remy Jaime Jacques-Henri Welschinger, aged 41, holds or has previously held the following directorships:

 
 Current directorships and/or      Former directorships and/or 
  partnerships                      partnerships (within the last 
                                    five years): 
 Arc Minerals Ltd                  Element-46 Ltd 
  Limehouse Capital Ltd             Chelsea Travel Company Ltd 
  Sustineri Group Ltd               Cosmos Exploration Ltd 
  Infinity Lithium Incorporation    Limehouse Asset Management Limited 
  Viridian Lithium SAS 
                                  ------------------------------------

Mr Welschinger holds 965,000 ordinary shares in the Company representing 0.95% of the issued share capital. This includes 300,000 ordinary shares held by Mr Welschinger's spouse.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

*** ENDS ***

For further information and updates on Firering's exploration programme, visit www.fireringplc.com or contact the following:

 
 Firering Strategic Minerals                  Tel: +44 20 7236 1177 
  Yuval Cohen 
 SPARK Advisory Partners Limited (Nominated   Tel: +44 20 3368 3550 
  Adviser) 
  Neil Baldwin / James Keeshan / Adam 
  Dawes 
                                             ------------------------------------- 
 Optiva Securities Limited (Joint             Tel: +44 20 3137 1903 
  Broker) 
  Christian Dennis / Daniel Ingram 
                                             ------------------------------------- 
 S hard Capital Partners LLP (Joint           Tel: 020 7186 9950 
  Broker) 
  Damon Heath / Erik Woolgar 
                                             ------------------------------------- 
 St Brides Partners Limited (Financial        T: +44 20 7236 1177 
  PR)                                          E: firering @stbridespartners.co.uk 
  Ana Ribeiro / Susie Geliher / Isabelle 
  Morris 
                                             -------------------------------------

Notes to Editors:

Firering Strategic Mineral

Firering Strategic Minerals plc is an AIM-quoted mining company focused on exploring and developing a portfolio of mines producing strategic minerals in Côte d'Ivoire, specifically lithium and tantalum, to support the global transition to net zero emissions. It operates the Atex Lithium-Tantalum Project in northern Côte d'Ivoire, which is prospective for both lithium and tantalum. Firering's main focus is working together with Australian diversified minerals company Ricca Resources to advance development at Atex with a view to establishing a maiden lithium resource and then progressing a Lithium project through to DFS. Firering is also assessing pilot scale production of ethically sourced tantalum and niobium to generate early revenues and support further exploration work. Should pilot production be successful, a large-scale tantalum production facility may be developed, which will be supported by a debt facility of FCFA 5,057,000,000 (approximately EUR7,500,000) currently under negotiation to fund the entire scale-up plan to develop a portfolio of ethically sourced mineral projects in the Côte d'Ivoire, supplying EV batteries, high tech electronics and other fast-growing end markets. Firering also has an option to acquire up to 28.33% of Limeco Resources Limited, the owner of a Limestone project located 22km west of Lusaka in Zambia.

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END

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