By Josh White
Date: Thursday 14 Mar 2024
LONDON (ShareCast) - (Sharecast News) - Exploration company Firering Strategic Minerals announced the acquisition of 20 million shares in Ricca Resources on Thursday.
The AIM-traded firm said the shares were obtained at an issue price of five Australia cents (2.6p) each, for a total value of AUD 1m.
It said the transaction was a pivotal step following the binding and definitive earn-in agreement, valued at $18.6m, which was initially announced on 2 November 2022.
The agreement was geared towards advancing the Atex lithium-tantalum project and the adjacent Alliance exploration licence, pending issue, situated in Côte d'Ivoire.
Firering said the issue of the Ricca shares stemmed from a clause in the agreement triggered by Ricca's failure to complete an initial public offering on the ASX by 31 December 2023.
The shares were issued at a pre-money value of AUD 7.96m, reflecting Ricca's value during its latest funding round in May 2023.
Due to the settlement, Firering now held 20 million shares in Ricca, constituting 11.2% of Ricca's issued share capital.
At 1203 GMT, shares in Firering Strategic Minerals were down 3.18% at 3.05p.
Reporting by Josh White for Sharecast.com.
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Currency | UK Pounds |
Share Price | 3.40p |
Change Today | 0.050p |
% Change | 1.49 % |
52 Week High | 8.65 |
52 Week Low | 3.15 |
Volume | 18,363 |
Shares Issued | 101.84m |
Market Cap | £3.46m |
RiskGrade | 85 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
14:59 | 226 @ 3.20p |
13:10 | 574 @ 3.20p |
09:20 | 57 @ 3.50p |
09:02 | 17,506 @ 3.20p |
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