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IN BRIEF: Firering Strategic Minerals interim loss narrows, costs fall

23rd Sep 2022 14:02

Firering Strategic Minerals PLC - operator of Atex dual lithium-tantalum project in Ivory Coast - Chief Financial Officer Timothy Daniel resigns immediately as company releases half-year results.

Pretax loss in six months to June 30 narrows to EUR517,000 from EUR869,000 a year prior. General & administrative costs are cut nearly in half to EUR415,000 from EUR815,000.

Non-Executive Director Shai Kol is immediately promoted to the role of CFO as Daniel resigns "to pursue other career opportunities".

Looking ahead, Firering expects first assay and x-ray diffraction results in the fourth quarter of 2022. "The first six months of 2022 have been very successful in terms of the company's operational progress and achievements. Our ability to accelerate the first auger drilling and soil sampling campaigns, driven by detailed geological mapping, increased our understanding of the Atex licence area, and allowed us to design the first phase of our diamond drilling programme," states Chief Executive Yuval Cohen.

Current stock price: 7.53 pence, down 1.6% on Friday

12-month change: down 48%

By Tom Budszus; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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