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Dibs, well the drilling is now completed but really no interest shown in the share price. Guess the next news will be the results.....
Radio silence. When is this company going to update the market. They started drilling back in January and suggested they would be updating as and when? Helloooo
Strange one this, never holds any gains
They have said they will update the market as intercepts come through. Drilling commenced 9 days ago.
“Although the RC programme is expected to conclude in four to six weeks, we will update the market as intercepts are made available over the coming weeks. Samples will be sent to Intertek for assaying and first assay results are expected during Q1 2024.
"This is an exciting phase for our flagship Atex Project and am looking forward to announcing the assay results in due course."
I’ve taken a small position here and will see how it goes.
.....refreshing for a change on AIM.........finally a company doing what it said it would do!
Well Done Firering!
GLA
Needs a 🚀
Anyone know why SP is going down so much?
Think we got the spark
Needs a spark
Sp always seems depressed
Unusual buying activity here.
Its a shame NH has left tbh, totally understandable, but still a shame.
We haven't yet had a phase 2 funding commitment from RICCA RNS (as the amounts were to be done in batches at set points, with set rewards). At this stage its to hard to tell if that's because they don't see the value right now (for whatever reason), or if we just haven't got to phase 2 point yet.
The limestone part is interested and was def a curve ball, but I would like to see a few more figures put out there for us so that we can see what rev/profits it might bring in.
With Neil Herbert leaving I think the funding from the Lithium deal with Ricca is unlikely to materialise especially now lithium companies have a lower valuation. At least the company has managed to pivot towards limestone
It's difficult to know exactly because we don't know all the operating costs, but I would imagine that once they're up and running it will be a fairly profitable, cash generative sideline.
I looked into one of the main operating costs of quicklime production in Zambia, which is the 20KWh of electricity required per tonne to produce it.
Zambia has about the cheapest electricity tariffs in the world, for both personal and business customers, at about 4.4c per KWh for businesses, so the energy cost is less than $1 per tonne.
Quicklime itself, when I last looked, sells for $80-$100 per tonne. Like most commodities prices fluctuate somewhat, but I expect the Zambian market for quicklime to be fairly robust and transport costs (paid for by the buyers) will be relatively low making it attractive to local buyers, ie Zambian copper miners/producers primarily.
Does anyone know the estimated net profit per ton of quicklime please?
Interesting development indeed!
Firering are intending to acquire around a 28% interest in a near-term cashflow producing asset which Glencore has spent in excess of $100m developing, right up to the point of commissioning, for about $5m. So, that's about $28m of Glencore's expenditure bought for $5m, and the good bit is that Firering didn't need to work for and wait x number of years for it to get to the production stage.
I also note that the limestone is of exceptionally high grade at 95+% calcium carbonate, which means less waste and cheaper to convert to quicklime.
By my rough calculation the resource is equivalent to a mine life of around 175 years, using a conversion factor of 1.8 tonnes of limestone to 1 tonne quicklime and producing 600 tonnes quicklime per day. (Please feel free to correct me if I've got this wrong.)
Interesting developments from left field, potentially have them with an income much sooner than thought, need to do some deeper digging into this, my first thoughts are that it's very positive
Should we have seen this coming?
I see there's a few 50 & 100k buys starting to appear
1 month chart looking slow but steady in the right direction
SP waking up today
Further to my previous post, regarding the potential extent of the Atex/Alliance pegmatites...
At the end of a Firering webinar presentation, just after the acquisition of their controlling stake in Alliance Minerals, there was a Q&A session where someone asked:
Q. Can you highlight the importance of the acquisition of Alliance Minerals in the overall growth strategy and development of the business?
A. Yuval Cohen, Firering’s CEO, said something like: Alliance is a highly-prospective area adjoining Atex. There are pegmatites ‘lying around’ on both sides of the concession and we have identified the continuation of the [Atex] pegmatites into the Alliance area. The combination of the Atex and Alliance areas creates a 500 sq km concession with fertile pegmatites for both lithium and coltan.
So, Firering already appear to know from pegmatites scattered around on the surface (and possibly sampled and tested as part of their due diligence) that the larger Alliance area to the south-west has similar characteristics to Atex which adjoins it. Alliance is of course on trend with the north-east to south-west orientation of the Atex pegmatite zones already mapped, which leads me to believe that the combined extent of the pegmatite field could be absolutely massive. (It's already very extensive based on what we already know from surveys/mapping and RNSs released by the company.)
The lithium in soil assays revealed in the 30th May and 22nd June RNSs were, IMO, truly spectacular.
Australian lithium companies would be wetting themselves with excitement over these lithium in soil readings. One Australian miner recently stated: “A +60ppm lithium anomaly in shallow soil samples is highly significant. Several exploration companies have adopted this mark as a significant soil anomaly threshold based on Kidman Resources Ltd’s large and high-grade Earl Grey lithium deposit that was defined by a discrete +60ppm lithium soil anomaly.”
To put Firering’s lithium in soil assays into some sort of context, they haven’t even bothered to report any readings that low; a reading had to exceed 85 just to be registered at the lowest end of the scale on their heat-map (Figure 1 in the 22nd June RNS).
Here are a few fairly typical results extracts quoted by other miners reporting lithium exploration results: “Nimy Resources: High-grade lithium anomalies: high of 108ppm mean of 72ppm, accompanying rubidium [a pathfinder element] high of 112ppm mean of 75ppm”, “Enterprise Metals: High-grade lithium soils: Multiple major elevated Lithium soil anomalies, +60ppm Li. Lithium anomalies cover significant scale, with 0.5-1km elevated Li at most anomalies. Peak assay of 117ppm Li with multiple samples exceeding 100ppm Li”, “Balkan Mining: The results have defined two northwest-southwest striking trends coincident with high-grade outcropping spodumene-bearing pegmatites. Soil sampling assay results including up to 110.5 ppm Li”.
By comparison, Firering reported lithium soil anomalies of up to 4,499ppm and rubidium up to 2,700ppm, indicating the presence of high-quality, highly-fractionated pegmatites.
The other impressive thing is the sheer scale of the apparent mineralisation. To my mind the lithium heat-map in the 30th May RNS appears to show a pretty continuously mineralised strike from north-north-east to south-south-west of about 12km, and which is typically kilometres wide – and that’s just the area that’s been mapped; does it continue even further at either end, who knows?
IMO, Atex is looking every bit a world-class lithium and coltan resource, as hinted-at by previous drill results - and then there’s the larger, as yet unexplored, Alliance prospect to the south.
The last two RNSs were very positive imo, but passed by with little or no comment.
I'll perhaps give my thoughts on what I think the significance of them is when I get some time.
No interest what so ever in this share...
I think it is Brendan Borg, if it is expect another similar sized sell, then he'll be completely out.