Business
Interim Results
Fulcrum Metals PLC reported a pre-tax loss of £375,019 for the six months ended June 30, 2025, compared to a loss of £514,654 in the same period of 2024. The company's cash balance stood at £38,778 as of June 30, 2025, a decrease from £113,582 in the prior year. Basic loss per share was 0.006p, down from 0.010p per share. The Teck-Hughes Gold Tailings Project conceptual study showed a US$33 million NPV7.5 and a 21.4% IRR. The company signed a letter of intent for the sale of the Tully Gold Project, including CA$500,000 cash and 19.9% equity interest in Loyalist. A placing and subscription raised £140,000, and a later fundraising generated £1.29 million. The company also converted £430,000 of Convertible Loan Notes into equity. Disclaimer*
About this update from Fulcrum Metals Plc
[{"type":"text","content":"\n\n \nFulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining\n \n30 September 2025\nFulcrum Metals plc\n(\"Fulcrum\" or the \"Company\" or the \"Group\")\n \nUnaudited interim results for the six months to 30 June 2025\n \nFulcrum Metals plc (LON: FMET), a company pioneering the use of innovative technology to recover precious and critical metals from mine waste, announces its unaudited consolidated interim results for the six months to 30 June 2025.\n \nOperational Highlights:\n· March 2025: Published results of Phase 2 high-level conceptual study at Teck-Hughes Gold Tailings Project in Ontario:\no NPV7.5 of US$33m and IRR of 21.4% based on a 9-year operational life.\no c.3-year payback from production.\no Initial study based on US$2,899 gold price, 2,000 tonnes per day, 59.4% recovery and 6-hour leach time.\no Recovery rates could reach 70%+ with further optimisation.\no Sensitivity analysis showed that a 25% increase in either the gold price to US$3,624 or recovery rates to 74% would:\n§ Increase NPV7.5 to US$75.5 million pre-tax\n§ Increase IRR to 37.7%; and\n§ Reduce payback period to less than 2 years from production.\n· April 2025: Signed letter of intent (\"LOI\") with Loyalist Exploration Limited (\"Loyalist\") for the sale of 100% interest in the Tully Gold Project. Terms include a CA$500,000 cash payment on completion and 89,255,000 common shares in Loyalist, based on and subject to adjustment on the completion of Loyalist's financing from the date of the LOI, to represent a 19.9% equity interest.\n· April 2025: Presence of gallium identified at Teck-Hughes and Sylvanite tailings projects. Gallium and tellurium are both recognised by Canada as critical minerals vital to the global energy transition and Fulcrum's projects offer a potential Canadian domestic source of these critically important elements.\nMay 2025: Signed Exclusivity Agreement with Extrakt covering legacy gold mine waste sites in Timmins and Kirkland Lake. Extrakt's non-cyanide processing technology has already delivered significantly improved recovery rates at Teck-Hughes, with gold recoveries of up to 59.4% and leaching times reduced by 60%.\n \nCorporate:\n· Februa...