Firering grants an option over its lithium assets, retaining potential project upside

Firering announced a 90-day exclusive option with Australasian Metals on 7 September 2026.

Initial consideration and assets

The buyer pays A$100,000 non-refundable, with another A$1.4m if it exercises. The proposed sale covers 75 percentage points of Firering's 90% Atex interest, its 51% Alliance interest and rights to acquire another 29% of Alliance.

Firering would retain 15% of Atex, with a free-carry arrangement governed by the agreement's investment, development and work-programme conditions.

Further optional payments

Australasian Metals would also have an option to purchase the retained interest for A$5m, including at least A$2.5m cash. The agreement provides for a potential 1% royalty on the specified terms and a further optional A$5m royalty buyout.

These contingent amounts are not cash already received.

Strategic implications

Management intends the initial transaction proceeds to support bridge-loan repayment, working capital and the ramp-up of its 45%-owned Limeco business.

The immediate milestone is whether the buyer exercises its option. The economic outcome depends on which later rights are exercised and the detailed conditions attached to retained exposure.

Source: Company announcement, 7 September 2026.