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First Class Metals Plc
(LSE:FCM)
First Class Metals Plc (FCM) vs. iShares MSCI United Kingdom ETF (EWC)
First Class Metals Plc Business Overview & Revenue Model
First Class Metals Plc Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -4.38K | -1.50K | -532.00 | -162.00 | 0.00 |
| EBITDA | -1.69M | -1.33M | -1.46M | -692.96K | -168.34K |
| Net Income | -1.73M | -1.36M | -1.58M | -701.04K | -168.34K |
Balance Sheet | |||||
| Total Assets | 4.39M | 3.97M | 3.78M | 3.20M | 1.48M |
| Cash, Cash Equivalents and Short-Term Investments | 285.92K | 221.07K | 140.80K | 712.72K | 267.24K |
| Total Debt | 0.00 | 700.00K | 160.00K | 218.59K | 0.00 |
| Total Liabilities | 606.72K | 1.48M | 686.53K | 591.27K | 106.58K |
| Stockholders Equity | 3.79M | 2.49M | 3.10M | 2.61M | 1.37M |
Cash Flow | |||||
| Free Cash Flow | -1.54M | -1.37M | -2.37M | -1.65M | -1.27M |
| Operating Cash Flow | -1.52M | -703.47K | -1.12M | -634.07K | -90.92K |
| Investing Cash Flow | -573.67K | -407.75K | -1.25M | -1.01M | -1.18M |
| Financing Cash Flow | 2.40M | 1.19M | 1.80M | 2.16M | 1.54M |
First Class Metals Plc Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | £8.16M | -3.57 | -67.90% | ― | ― | ― | |
48 Neutral | £3.87M | -1.28 | -44.38% | ― | 1.77% | 33.33% | |
44 Neutral | £5.32M | -0.70 | -55.27% | ― | ― | ― | |
41 Neutral | £3.68M | -2,196.99 | -0.07% | ― | ― | ― | |
41 Neutral | £3.08M | ― | 122.82% | ― | ― | ― |
First Class Metals Plc Corporate Events
First Class Metals has reported the identification of additional visible gold in core from a second drill hole at the Roy prospect on its Sunbeam property in Ontario, further supporting the presence of gold mineralisation within the targeted structure. The company has completed its planned drilling programme at Roy, with 12 holes totalling 1,030 metres, confirming the mineralised package over a strike length of more than 300 metres.
Geological logging and sampling are under way, with six holes logged to date, eight still to be cut and sampled, and the first two holes already dispatched for assay in Thunder Bay. Management describes the programme as a resounding success so far, with the repeated occurrence of visible gold and its association with galena reinforcing the exploration potential of the Roy structure and adding credibility to the broader Sunbeam property for future gold development prospects.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals PLC has issued 5,311,355 new ordinary shares following the partial conversion of £43,500 of its previously announced £1.00 interest-free convertible loan notes. The new shares are expected to be admitted to trading on the London Stock Exchange’s Main Market around 20 March 2026, reflecting ongoing utilisation of its convertible funding structure.
Following this share issue, First Class Metals’ total issued share capital will rise to 287,834,413 ordinary shares, all carrying equal voting rights and with none held in treasury. The updated share count resets the denominator for investors’ disclosure thresholds and may slightly dilute existing shareholders, while providing additional equity capital to support the company’s exploration activities in Ontario.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has reported the interception of a broad mineralised structure containing visible gold at the Roy prospect on its Sunbeam Property in Ontario, a significant milestone in its ongoing 1,000-metre diamond drilling programme. All holes drilled so far have intersected the targeted sulphide-bearing package of altered tonalite and deformed chloritic schist, extending the known strike of the structure to more than 250 metres and indicating strong structural continuity that could materially enhance the prospect’s resource potential.
Management describes the identification of visible gold, confirmed by portable XRF analysis and closely associated with galena, as a major boost for the exploration team and a potential indicator of high-grade mineralisation. With drilling nearing completion and further results expected shortly, the find strengthens the geological case for Roy within a district-scale structure that also hosts historic shafts, potentially improving First Class Metals’ exploration upside and positioning in the competitive Hemlo-area gold exploration sector.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has fully converted its £500,000 interest-free convertible loan note facility, originally announced in November 2025, into equity through a final £17,500 tranche. This last conversion results in the issuance of 2,189,690 new ordinary shares, which are expected to be admitted to trading on the London Stock Exchange’s Main Market around 16 March 2026.
Following this share issue, the company’s total issued share capital will rise to 282,523,058 ordinary shares, all carrying equal voting rights and with none held in treasury. The updated share count establishes the new denominator for investors’ disclosure calculations, clarifying voting rights and ownership thresholds for existing and prospective shareholders.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals PLC has received a conversion notice for £62,000 of its previously issued interest-free convertible loan notes, resulting in the issuance of 7,586,139 new ordinary shares. These shares are expected to be admitted to trading on the London Stock Exchange’s Main Market around 11 March 2026, marking a modest dilution for existing shareholders as debt is converted into equity.
Following this conversion, the company’s issued ordinary share capital will increase to 280,333,368 shares, all carrying equal voting rights and none held in treasury. The updated share count also resets the denominator for calculating major shareholdings, giving investors and regulators a new reference point for disclosure of significant changes in ownership stakes.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has received a conversion notice for £60,000 of its previously issued interest-free convertible loan notes, resulting in the issuance of 7,341,425 new ordinary shares. The new shares are expected to be admitted to trading on the London Stock Exchange’s Main Market around 9 March 2026, increasing the company’s issued share capital and total voting rights to 272,747,229.
The enlarged share capital alters the equity base and voting structure for existing shareholders, who may need to reassess their notifiable interests under UK disclosure rules. The move reflects ongoing utilisation of the company’s convertible financing arrangements and modestly dilutes existing holdings while providing additional equity capital to support its exploration activities in Ontario.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals PLC has announced the conversion of £63,000 of its previously issued interest-free convertible loan notes into equity, resulting in the issuance of 7,708,496 new ordinary shares. The new shares are expected to be admitted to trading on the London Stock Exchange’s Main Market around 6 March 2026, reflecting continued utilisation of its financing structure.
Following this conversion, the company’s issued share capital will rise to 265,405,704 ordinary shares, all carrying equal voting rights and none held in treasury. The updated share count adjusts the total voting rights in the company and provides a new reference point for shareholders to assess and disclose any changes in their ownership stakes under regulatory requirements.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has reported progress on its drilling campaign at the Roy prospect within the Sunbeam gold property in Ontario, with five holes totaling about 490m completed toward a planned 1,000m, and all intersecting visually encouraging mineralised structures. The work, paused briefly for the PDAC convention, is supported by revised drill azimuths based on updated structural interpretation, ongoing LiDAR analysis, and reprocessed VLF/magnetic survey data, underscoring the project’s potential given its position between Agnico Eagle holdings and near the 3.3Moz Hammond Reef deposit.
The Roy structure is interpreted as a district-scale lineament hosting historic shafts and significant prior gold samples, and current drilling is concentrated around old workings and visible-gold outcrops to test intersecting structures. Together with the expanding 100km² Sunbeam land package, multiple mineralised trends, and an application for continued support under the Ontario Junior Exploration Programme, the campaign reinforces the potential for a major gold discovery that could enhance First Class Metals’ standing in the regional junior exploration sector.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has announced the conversion of £40,000 of its previously issued interest-free convertible loan notes into 3,123,828 new ordinary shares, under terms set out in a November 2025 instrument. The new shares are expected to be admitted to trading on the London Stock Exchange’s Main Market around 2 March 2026, reflecting ongoing use of equity-linked financing.
Following this issuance, the company’s total issued share capital will rise to 257,697,208 ordinary shares, all carrying equal voting rights and with none held in treasury. The updated share count sets a new baseline for investors’ disclosure thresholds and may marginally dilute existing shareholders while marginally reducing the company’s outstanding convertible debt obligations.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has begun drilling on the Roy structure at its Sunbeam property in Ontario, following a 2025 field season that defined a more than 4km-long gold-in-soil anomaly along a >10km trend. Historic drilling, recent high-grade channel samples and expert structural studies suggest the Roy trend hosts robust, structurally controlled gold mineralisation with similarities to the nearby Hammond Reef system.
More than 500 soil samples, a VLF-magnetic survey and ongoing LiDAR interpretation all point to intersecting structural lineaments that may concentrate higher-grade gold, refining drill targeting on the property. The initial 1,000m drill programme, designed with input from academic and industry specialists, aims to validate these models and could materially advance Sunbeam’s potential within a competitive regional gold belt if results are positive.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has announced a significant reshaping of its shareholder base following a reduction in the stake held by The 79th GRP Limited, which is in administration. As a result, long-term investor James Goozee has increased his position to become the company’s largest shareholder, while high-net-worth investors Anthony Charles Harris and Darren Andrew Rowlands have joined the register as substantial holders.
The board said the exit of most of the 79th GRP holding and the formal end of the Offer Period bring greater clarity to the ownership structure and mark an inflection point for the company. Management believes the broadened, more stable investor base will support its strategic focus on advancing exploration across its Ontario portfolio, as it continues to work with the administrators of the 79th GRP to resolve the remaining stake in an orderly manner.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals, a London-listed explorer, focuses on gold and critical metals projects across multiple claim blocks in northwest Ontario, Canada, with a strategic emphasis on prolific mining camps such as Hemlo and the Abitibi Greenstone Belt. Its portfolio includes 100%-owned properties, earn-in options and a joint venture, targeting precious, base and battery metals in established mineral districts.
The company announced that the UK Takeover Panel has confirmed it is no longer in an offer period following Quantuma Advisory Limited’s disposal of the majority of its shareholding, which reduced Quantuma’s stake below 29.9% of First Class Metals’ issued share capital. This development removes the formal bid-related overhang from the stock, potentially providing greater clarity for investors as FCM advances key projects including North Hemlo, Sunbeam, Zigzag and Kerrs Gold within its growth-focused exploration strategy.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has reported initial drilling results from its North Hemlo property in Ontario, with final assays on half of the 400 samples and provisional values for the remainder showing no gold grades above 1g/t and a peak value of 117ppb. While these gold assays fall below management expectations, more than 100 samples returned gold above detection and some coincide with anomalous molybdenum, a combination the company views as potentially significant given its association with Hemlo-style mineralisation.
The company plans a detailed review integrating the final assay data with soil geochemistry, geophysics and VLF and LiDAR interpretations to refine follow-up exploration along the more than 3km Dead Otter trend and other targets on the North Hemlo property. Management stresses that North Hemlo remains a property of merit within FCM’s broader Ontario portfolio, and that the new data will be used as a vector to guide further work rather than as a reason to scale back exploration activities in the camp.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals, a UK-listed exploration company focused on gold and other metals in Ontario, Canada, is expanding a portfolio that includes the North Hemlo, Sunbeam, Zigzag and Kerrs Gold projects. The company aims to capitalise on its proximity to major deposits in the Hemlo and Abitibi belts, where it controls over 280km² of ground across wholly owned and optioned properties.
The group has begun drill preparations at the Roy structure on its Sunbeam property, with a 1,000m contract in place and potential for an additional 500m. Drilling will target depth continuity along a high-grade 18.8g/t gold channel sample, with Emerald Geological Services supervising operations, marking a swift follow-up to recent work at North Hemlo and underlining FCM’s drive to advance its exploration strategy systematically.
The mobilisation of the drill rig and marking of initial collars at Roy signals a key step in testing the district-scale mineralised trend at Sunbeam. Management emphasises that back-to-back drilling at North Hemlo and Sunbeam reflects disciplined execution aimed at firming up the company’s gold potential in a region known for significant existing resources and production.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals PLC has received a conversion notice for £40,000 of its previously issued £1.00 interest-free convertible loan notes, resulting in the issuance of 3,123,828 new ordinary shares. The new shares are expected to be admitted to trading on the London Stock Exchange’s Main Market around 23 February 2026, modestly diluting existing shareholders but strengthening the company’s equity base.
Following this conversion, First Class Metals’ issued share capital will increase to 254,573,380 ordinary shares, all carrying equal voting rights and with none held in treasury. The updated total voting rights figure provides a new reference point for investors to assess and report any changes in their shareholdings under regulatory disclosure requirements.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals has elected to accelerate the final share-based option payment to Nuinsco Resources for the Zigzag Lithium Property, issuing 2,277,816 new shares to settle a C$85,000 equity obligation ahead of its original June 2026 deadline. On completion of the remaining cash and work commitments, the company will secure an 80% interest in Zigzag, forming an 80:20 joint venture with Nuinsco, and increasing its issued share capital to 251,449,552 shares.
The move is framed as a strategic step to de-risk the earn-in, lock in its controlling position at Zigzag, and capitalise on improving lithium prices and renewed sector interest. Zigzag, located in Ontario’s emerging battery minerals corridor, has already returned high-grade lithium and critical metals drill results and is fully permitted, positioning First Class Metals to advance studies such as a planned beneficiation programme and strengthen its role in North America’s critical minerals supply chain.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals Plc has received a conversion notice for £50,000 of its previously issued interest-free convertible loan notes, resulting in the issuance of 4,282,288 new ordinary shares. The new shares, expected to be admitted to trading on the London Stock Exchange’s Main Market around 11 February 2026, will increase the company’s issued share capital to 249,171,836 ordinary shares with equal voting rights, slightly diluting existing shareholders while strengthening the equity component of its capital structure and updating the baseline for regulatory disclosure of voting interests.
The most recent analyst rating on (GB:FCM) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on First Class Metals Plc stock, see the GB:FCM Stock Forecast page.
First Class Metals Plc has confirmed that, as of 30 January 2026, its issued share capital comprises 244,889,548 ordinary shares of £0.001 each, all carrying one vote, with no shares held in treasury, resulting in a total of 244,889,548 voting rights. This updated share and voting rights figure provides the benchmark shareholders must use to assess and report any notifiable holdings or changes under the UK Financial Conduct Authority’s disclosure and transparency rules, ensuring regulatory clarity and transparency for investors and other market participants.
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.
First Class Metals PLC has secured up to £1m of interest-free convertible loan note funding from an international investor to finance its maiden drill programme at the Sunbeam gold property in Ontario and to strengthen working capital. The structure includes an initial £350,000 tranche, investor conversion rights at a discount to market, associated warrants, and an option for the company to redeem the notes at a premium, while proceeds will also accelerate the final CAD$100,000 payment to acquire full ownership of the Kerrs Gold property, consolidating a 386,000-ounce historical gold resource and positioning the company to advance multiple gold projects amid supportive gold price conditions.
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.
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.
First Class Metals PLC has received a conversion notice for £70,000 of its existing interest-free convertible loan notes, resulting in the issuance of 4,303,349 new ordinary shares. The company will seek admission of these shares to the FCA’s Official List (Standard Segment) and to trading on the London Stock Exchange’s Main Market around 9 January 2026, increasing its issued share capital to 244,889,548 ordinary shares and clarifying the new total voting rights figure for shareholders’ disclosure and transparency calculations.
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.
First Class Metals Plc has confirmed that, as of 31 December 2025, its issued share capital comprises 240,586,199 ordinary shares of £0.001 each, all carrying one voting right, with no shares held in treasury, establishing the total number of voting rights in the company at 240,586,199. This updated share capital and voting rights figure provides clarity for shareholders and regulators under the FCA’s Disclosure Guidance and Transparency Rules, setting the denominator for investors to calculate and report any notifiable holdings or changes in their interests in the company’s shares.
First Class Metals PLC has announced the conversion of £50,000 of its previously issued £1.00 interest-free convertible loan notes into 3,711,401 new ordinary shares, following a conversion notice dated 16 December 2025. The new shares will be admitted to the Standard Segment of the Official List and to trading on the London Stock Exchange’s Main Market, increasing the company’s issued share capital to 237,644,221 ordinary shares with an equivalent number of voting rights, a change that modestly dilutes existing shareholders but strengthens the company’s equity base and may influence regulatory reporting thresholds for investors under UK disclosure rules.
First Class Metals has completed its maiden drilling programme at the North Hemlo property in Ontario, marking a key operational milestone on the Dead Otter trend within the world-class Hemlo Greenstone Belt. The company drilled ten diamond holes over roughly 3km of strike, exceeding the planned 700 metres and targeting seven geochemically anomalous zones defined by earlier high-grade grab samples, stripping and soil geochemistry, including areas around a 19.6 g/t and 2.3 g/t gold grab sample. More than 300 core samples have been sent for assay, with about 100 more in transit, after geological logging identified multiple visually prospective zones in every hole, showing deformation, veining and sulphide mineralisation consistent with the shear-hosted orogenic gold model used at Hemlo. The programme also tested the contact between greenstones and the nearby Dotted Lake granodiorite pluton, a setting known elsewhere in the Superior Province to host significant gold deposits, underscoring the geological potential of the area and positioning First Class Metals to benefit from renewed regional investment following the recent US$1.09bn sale of the Hemlo Mine to Hemlo Mining Corporation, though the ultimate significance will depend on pending assay results.
First Class Metals Plc has announced the conversion of £47,500 of its previously issued interest-free convertible loan notes into 2,941,978 new ordinary shares, following a conversion notice dated 17 December 2025. The new shares are expected to be admitted to the FCA’s Official List (Standard Segment) and to trading on the London Stock Exchange’s Main Market around 7 January 2026, increasing the company’s issued share capital to 240,586,199 ordinary shares and setting the new total voting rights at the same figure, a key reference point for shareholders monitoring disclosure thresholds and changes in ownership stakes.
First Class Metals PLC has announced the conversion of £50,000 of its previously issued £1.00 interest-free convertible loan notes, resulting in the issuance of 3,711,401 new ordinary shares. The company is seeking admission of these shares to the FCA’s Official List and to trading on the London Stock Exchange’s Main Market around 23 December 2025, after which its issued share capital will rise to 237,644,221 ordinary shares, all with voting rights. The enlarged share count will serve as the new reference figure for investors assessing disclosure obligations under the FCA’s transparency rules, slightly diluting existing shareholders but strengthening the company’s equity base as it advances its exploration activities in Ontario.