First Class Metals Moves Into Critical Minerals With Ontario Rare Earths Options

First Class Metals Plc ( (GB:FCM) ) has issued an update.

First Class Metals has secured options to acquire 100% interests in two rare earth element prospects in northwest Ontario, known as Block H and Block F, significantly expanding its exploration portfolio beyond gold and into critical minerals. The roughly 18km² and 33km² properties sit within one of the most anomalous REE regions in Ontario’s lake sediment database, in the White Otter Batholith area near the company’s Sunbeam gold project, and are believed to be on Lac des Mille Lacs First Nation traditional territory, where the company already has a working relationship. The three-year option structures for both blocks are low-cost in the first year, limiting upfront financial exposure while FCM undertakes data review and an initial prospecting-led field programme from spring 2026 to ground-truth historic anomalies, validate assays and refine geological models. By stepping into thorium-associated REE exploration in a region identified by Canada as a priority critical minerals jurisdiction, FCM positions itself to benefit from rising global demand for rare earths and Western efforts to secure non-Chinese supply chains, while maintaining gold as the cornerstone of its value strategy.

The most recent analyst rating on (GB:FCM) stock is a Hold with a £2.00 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.

Spark’s Take on GB:FCM Stock

According to Spark, TipRanks’ AI Analyst, GB:FCM is a Neutral.

The score is primarily held back by weak financial performance (no revenue, ongoing losses, and continued cash burn), with only partial balance-sheet support. Technicals are mixed and do not provide a strong offset, and valuation is constrained by negative earnings and no dividend yield data.

To see Spark’s full report on GB:FCM stock, click here.

More about First Class Metals Plc

First Class Metals Plc is a UK-listed mineral exploration company focused on discovering economic metal deposits across a portfolio of properties in Ontario, Canada. Its core strategy centres on gold exploration within this Tier-1 mining jurisdiction, while it increasingly seeks complementary exposure to other critical and strategic minerals that align with government-backed supply chain priorities.

Average Trading Volume: 1,372,688

Technical Sentiment Signal: Sell

Current Market Cap: £4.45M

See more insights into FCM stock on TipRanks’ Stock Analysis page.