Ricca Resources US$1M Settlement Finalised

Summary by AI ^BETAClose X

Firering Strategic Minerals plc has finalised a US$1 million settlement with Ricca Resources, resolving all outstanding debts and claims. Following this, Firering anticipates Ricca will distribute net proceeds from the sale of a subsidiary asset for A$4.4 million, approximately £2.2 million, subject to a potential A$332,000 adjustment. Firering holds a 10.6 percent stake in Ricca, which could impact its financial position.

Disclaimer*

Firering Strategic Minerals PLC

12 December 2025

Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

12 December 2025

Firering Strategic Minerals plc

("Firering" or "the Company")

Ricca Resources US$1M Settlement Finalised

Firering Strategic Minerals plc (AIM: FRG), a producer of quicklime and explorer of critical minerals, announces that, further to its update of 19 November 2025, all resolutions at the Extraordinary General Meeting ("EGM") of Ricca Resources Limited ("Ricca") were passed earlier today. Firering now expects to receive US$1 million in full settlement of all debts and claims owed by Ricca.

As stated previously, Firering also expects that Ricca will make a distribution of net proceeds to Ricca's shareholders following completion of the sale of a subsidiary asset for A$4.4 million (approximately £2.2 million), subject to an adjustment of up to A$332,000 (approximately £166,000) payable to Skylark Minerals Limited (ASX: SKM) (Skylark). Firering holds a 10.6 percent shareholding in Ricca.

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For further information visit www.fireringplc.com or contact:

Firering Strategic Minerals

Yuval Cohen

E: info@firering-holdings.com

SPARK Advisory Partners Limited (Nominated Adviser)

Neil Baldwin / James Keeshan

T: +44 20 3368 3550

Shard Capital Partners LLP (Joint Broker)

Damon Heath / Erik Woolgar

T: +44 20 7186 9950

St Brides Partners Limited (Financial PR)

Isabel de Salis / Susie Geliher / Seb Weller

E: firering@stbridespartners.co.uk

Notes

Firering Strategic Minerals plc (AIM: FRG) is an emerging producer of quicklime and explorer of critical minerals. The Company is currently focused on ramping up production at the Limeco quicklime project in Zambia, in which it holds a 30.7% interest with an option to increase this to 45%. Targeting daily output of 600-800 tonnes, Limeco is well positioned to supply copper producers operating within the Central African Copperbelt and other regional industries that currently rely on imported quicklime from South Africa. Additionally, Firering is progressing the Atex Lithium-Tantalum Project in northern Côte d'Ivoire, a highly prospective asset with significant lithium and tantalum-niobium potential, supporting the global shift to clean energy technologies.

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