Fulcrum Metals Hits 78% Gold Recovery, Secures £6M Funding for Pilot Plant
Summary
Fulcrum Metals reported interim results showing a step-change in metallurgical performance: Phase 3 testing at Teck-Hughes achieved 78% gold recovery, up 31% relative to Phase 1, with strong recoveries of silver, tellurium, copper, cobalt, and manganese. The company completed a 159-hole auger programme and signed a piloting agreement with TDI for a 2.4 tonnes-per-day reusable pilot facility, supported by Extrakt and Bechtel. Funding is secured via a £6 million Yorkville package and a £2.5 million ATM facility; the first £2.5 million loan tranche is drawn, and the pilot and initial Teck-Hughes programme are expected to be funded without the second tranche. A proposed US$20 million royalty financing from Chancery is contingent on successful pilot testing. Post-period, the company listed on OTCQB under FULMF and raised a further £250,000. The next milestones are finalizing the Ontario pilot site and advancing the 43-101 Mineral Resource Estimate.
This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.