(Alliance News) - Exploration firm Firering Strategic Minerals PLC is planning to raise GBP4.0 million as it looks to float on London's AIM market next month.
Firering, whose portfolio includes lithium and columbite-tantalite in Ivory Coast, plans to list on November 12.
It will look to raise GBP4.0 million and targets a market capitalisation of GBP11.3 million.
Firering said the cash raised will go towards acquiring "pilot production plants to commence production". It will also fund continued exploration work, as well as meeting admission costs.
"Lithium and columbite-tantalite are used in rechargeable batteries and other components for Electric Vehicles and consumer electronics such as laptops, tablets and mobile phones," Firering said.
SPARK Advisory Partners Ltd is acting as nominated adviser and Optiva Securities Ltd as broker.
By Eric Cunha; ericcunha@alliancenews.com
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