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Fulcrum Metals Plc ( (GB:FMET) ) just unveiled an announcement.
Fulcrum Metals has received an additional 272,740 common shares in Loyalist Exploration Limited as further consideration for the sale of its Tully Gold Project, bringing its total holding in Loyalist to 78,972,740 shares, or 19.9% of the Canadian company’s issued share capital on a non-diluted basis, valued at about CA$3.5m. The structure of the Tully transaction gives Fulcrum ongoing upside through a 2.0% net smelter return royalty and the potential for further cash and share payments linked to resource and development milestones, while allowing the group to concentrate capital and management effort on scaling its cyanide-free metals recovery operations in the Kirkland Lake region, thereby reinforcing its positioning as an environmentally focused, near-term gold producer with strategic exposure to the Timmins mining district via Loyalist’s broader project portfolio.
More about Fulcrum Metals Plc
Fulcrum Metals plc is an AIM-listed, technology-led natural resources company focused on recovering precious and critical metals from historic mine tailings in Canada using cyanide-free, environmentally friendly leaching technology licensed from Extrakt Process Solutions. Its initial projects target former Teck-Hughes and Sylvanite gold mine tailings in the Kirkland Lake mining camp in Ontario, and it also holds a portfolio of mineral exploration and development assets in Ontario and Saskatchewan, with exclusive rights to apply its leaching technology to gold mine waste in the Timmins and Kirkland Lake gold camps.
Average Trading Volume: 238,521
Technical Sentiment Signal: Sell
Current Market Cap: £7.63M
Learn more about FMET stock on TipRanks’ Stock Analysis page.