Firebird upbeat following feasibility study

Subiaco-based Firebird Metals closed trade 11 per cent higher on Tuesday, following positive findings from its battery grade manganese sulphate feasibility study, in relation to stage one production in China.

Firebird shares last changed hands at 21 cents per share – their highest price since August 19 2022.

Earlier this year, Peter Allen-led Firebird told the market it had signed a strategic cooperation agreement with China National Chemistry Southern Construction, with the large-scale chemical engineering company agreeing to develop and construct Firebird's high-purity sulphate plant in central China.

Due to differences in China’s chemical project design and engineering processes, the feasibility study was undertaken and finalised on behalf of Firebird by the Hunan Chemical Engineering Design Institute.

Total project capital for the project is expected to hit $US83.5 million, with working capital penciled in at $US10.6 million.

As it stands, Firebird expects a final investment decision on the project in the second half of the year. It is expected construction would take an additional 12-15 months from this point.

It is expected 80 per cent of all sales from the plant will be facilitated in China, while the remaining 20 per cent will be earmarked for export markets.

Mr Allen said Firebird was hopeful of beginning operations at the plant in the final quarter of the 2025 calendar year.

“The results from our battery grade manganese sulphate feasibility study for stage one of production highlight the compelling opportunity we have in front of us to become a key high-purity manganese producer and validates our decision to work towards building a battery grade manganese sulphate plant and establish operations in China,” Mr Allen said.

“We have already seen significant cost, development and operational advantages that can be gained by building a plant in China and, most importantly, the company has been buoyed by the incredible level of support and interest received from key government agencies and tier-one banks in assisting us establish operations in China.”