Wednesday, September 27th 2023

Firering Strategic Minerals PLC

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Quality asset, quality board for Firering


“…The project is exceeding all expectations…it could well compete with some of the bigger lithium projects out there today…this is very exciting…”


A ‘pegmatite of mining polymaths’ could be the collective noun for the personalities on Firering Strategic Mineral‘s board.

Neil Herbert is Firering’s senior non-executive director; he’s also non executive chairman of Atlantic Lithium among other organisations.  There’s also Vassilios ‘Vasily’ Carellas who is Chief Operating Officer of Arc Minerals Limited who has joined Firering as its independent non-executive director.

Now while that’s beginning to present itself as information overload, the market capitalisation of Atlantic Lithium is £235 million, Arc Minerals as of February 2022 is £37 million, and in terms of context and opportunity, Herbert describes Firering’s £11 million market cap  as ‘modest’ in comparison against the backdrop of the fast tracking that Firering is currently engaged.

Carellas has known about the individuals and the lithium and tantalum-coltan asset going on a decade.  Both he and Herbert agree that Firering’s flagship Atex Project in Côte d’Ivoire has already exceeded expectations, hence the recent investor update about fast-tracking of a diamond drilling programme there.

Investor forums aren’t known for their succinctness, however Firering has attracted a concise bunch with sage guidance along the lines of: “Augers might be able to infer a resource. Diamond confirms.”

And as Carellas and Herbert explain to Sarah Lowther, the truth is in the drill bit with the fast tracked diamond drilling encouraged by the identification of additional pegmatites zones, fresh discoveries and lithium yielding potential that “could well compete with some of the bigger lithium projects out there today.”

Watch Neil and chief executive Yuval Cohen give an overview of the asset potential on Five Minute Pitch TV

Access the corporate presentation


Read the TMS Reach article on the company


Follow the company on Twitter – @FireRing_SM


The author was remunerated but does not hold shares in the company