Fulcram Metals, a company focused on innovative mining solutions, has successfully raised £758,000 through a placing at 8 pence per share. The funding, which includes significant contributions from existing investors and directors, is set to propel the company’s ambitious project developments.
CEO Ryan Mee expressed his satisfaction with the successful fundraising, despite acknowledging the significant discount at which the shares were placed. Mee highlighted the challenging market conditions, noting that discounts of 30-60% have become commonplace across the sector. However, he emphasized the importance of utilizing the funds wisely to drive project advancements that will ultimately attract market recognition.
Fulcram Metals is currently focused on its tailings project, which has shown promising results. Initial leaching tests using non-toxic, non-cyanide technology have achieved nearly 60% recovery rates, a significant improvement over previous methods that only reached around 30%. Mee underscored the environmental benefits of their technology, which sets new benchmarks in the industry.
The company has outlined a six-month plan to achieve key milestones, including phase testing at Silver Knight and advancing to the second phase at Tech, which will provide early economic indicators and equipment requirements. Fulcra Metals aims to digitize data and create 3D models to better communicate the project’s potential to investors.
Mee also mentioned the possibility of conducting bulk sampling on-site and exploring short-term production options, although the primary focus remains on maximizing resource value through full-scale development. The company has received positive feedback from industry stakeholders and local communities, further validating their approach.
With a market cap of approximately £4.7 million, Mee believes Fulcra Metals is significantly undervalued and presents a compelling investment opportunity. The board’s substantial investment in the company, totaling over £665,000, underscores their confidence in the project’s potential.
The company is committed to demonstrating the value of their resources and advancing their projects to attract market attention. The next six months will be crucial as the company works towards achieving its milestones and showcasing the full potential of its innovative mining solutions.
Key Insights
💰 Funding Achievement
Fulcrum Metals raised £758,000 through a placing at 8p per share.
Funds primarily came from existing investors and director contributions, totaling nearly £90,000.
📉 Market Challenges
CEO Ryan Mi expressed disappointment over the significant discount on share pricing, reflecting broader market pressures.
Many companies face 30-60% discounts on placings, indicating a challenging environment.
🔬 Tailings Project Progress
The company is focused on developing its gold tailings projects with promising results, including nearly 60% recovery using non-toxic leaching technology.
Previous cyanide leaching methods only achieved about 30% recovery.
📊 Future Milestones
Key milestones for the next six months include:
Phase testing at Silver Knight.
A conceptual study at Tech to assess project economics and resource valuation.🗺️ Market Engagement
Plans to enhance market visibility include digitizing data and creating 3D models of tailings.
The goal is to illustrate the potential of the projects and attract investor interest.
🔄 Potential for Production
The company is exploring bulk sampling on-site and considering small-scale production options to demonstrate immediate gold recovery potential.
🤝 Stakeholder Relationships
Strong engagement with local governments and First Nations groups highlights community support for the projects.
📈 Value Proposition
Mi believes the company is undervalued with a market cap of around £4.7 million, emphasizing the opportunity for investors.
🔍 Commitment to Success
Mi noted that he personally holds over 10% of shares, indicating strong alignment with shareholder interests.
The focus remains on demonstrating the resource’s value and maximizing returns through effective project development.
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