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Formation Metals Inc. ( (TSE:FOMO) ) has issued an announcement.
Formation Metals Inc. has successfully closed the first tranche of its private placements, raising $8.26 million to fully fund a 20,000-metre drill program at its N2 Gold Project in Quebec. This funding will support the company’s exploration efforts through 2027, aiming to develop the N2 project into a significant gold deposit, leveraging the current high gold prices to enhance its industry positioning.
More about Formation Metals Inc.
Formation Metals Inc. is a North American mineral acquisition and exploration company focused on the development of its flagship N2 Gold Project in Quebec. The company is involved in mineral exploration, primarily targeting gold resources.
Average Trading Volume: 279,230
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$14.26M
Learn more about FOMO stock on TipRanks’ Stock Analysis page.