Firering Strategic Minerals - wider net loss30 Jun 2026 08:27
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Firering Strategic Minerals reported a widened net loss of €2.49m for the year ended 31 December 2025, more than double the €1.18m deficit booked in 2024, as the AIM-listed group accelerated its pivot from critical-minerals explorer to industrial minerals producer through associate Limeco in Zambia. The loss reflects continued investment in Limeco's operational ramp-up alongside a €341k derivative revaluation hit on Limeco options and a €337k impairment against the Ricca Resources shareholding. General and administrative costs fell to €1.00m from €1.22m, while share of associate and joint venture losses rose to €517k. Year-end cash stood at just €716k, against current liabilities of €1.78m including a €1.01m shareholder bridge loan, prompting auditors to flag material uncertainty over going concern — though the loan has since been extended to May 2027 and Firering raised a further £2.5m in April 2026 to lift its Limeco stake to 45%. Kiln 1 was commissioned in 2025 and Kiln 2 has since exceeded its predecessor at circa 85 tonnes per day, with Kilns 3 and 4 due online in Q4. Management points to the recent Ndola Lime transaction at US$30m for 55% as validation of the US$8.2m paid for 45% of Limeco. Near-term focus rests on bringing the four-kiln configuration into stable operation and ordering a second gasifier to unlock the full 800tpd capacity.
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