REG - Fulcrum Metals PLC - £6M Funding Secured to Fully Fund Pilot Plant
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RNS Number : 9483C Fulcrum Metals PLC 05 May 2026
This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.
Fulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining
5 May 2026
Fulcrum Metals plc
("Fulcrum" or the "Company" or the "Group")
£6.0 million Funding Package Secured to Fully Fund Pilot Plant Development
and Testing
Notice of General Meeting
Fulcrum Metals plc (AIM: FMET), a company pioneering the use of innovative
cyanide-free technologies to recover precious and critical metals from mine
waste and support site remediation, announces that it has entered into a £6
million funding package with YA II PN, Ltd ("YA"), an institutional investor
managed by Yorkville Advisors Global, LP ("Yorkville"). The funding comprises
a combination of equity and convertible debt funding alongside an
At-The-Market Subscription Facility (the "ATM") arranged with Clear Capital
Markets Limited ("Clear Capital"), the Company's broker.
The funding package enables Fulcrum to advance key objectives associated with
the implementation of a stand-alone pilot plant to process material from the
Company's Teck Hughes and Sylvanite tailings projects and potential project
partners material.
Key highlights
· Immediate funding secured for critical path items, including securing
long-lead equipment, procurement of a pilot plant site, and engagement of key
services for the delivery, fabrication and assembly of the pilot plant;
· Funding for pilot plant operations, enabling real-world testing
across Fulcrum's projects to generate technical, environmental and economic
data to support a final investment decision on commercial deployment,
including validation and further optimisation of prior bench and laboratory
testing, and to support future permitting activities;
· Convertible loan terms include a 30% premium to the prevailing share
price, aligning investor and shareholder interests;
· Initial 60-day period during which no repayments are required,
providing near-term financial flexibility; and
· Structured repayment profile thereafter, while the Company evaluates
non-core asset monetization and potential government funding support.
Ryan Mee, Chief Executive Officer of Fulcrum, commented:
"The success of the Phase 3 programme at Teck-Hughes has generated strong
interest from funding partners, resulting in a flexible financing package with
Yorkville that fully funds the pilot scoping study, the pilot plant and pilot
testing. The financing structure combines equity at prevailing market prices
with loan conversions at a 30% premium, while retaining flexibility to
monetise non-core assets.
With funding secured, we are advancing the pilot scoping study and can begin
to secure critical path items and services ahead of implementation.
Pilot-scale testing represents a key milestone in de-risking our projects,
refining technical parameters and advancing toward commercial deployment.
Our focus is on transitioning from concept to bankable assets with defined
economic mineral reserves, positioning the Company to deliver long-term
shareholder value. I look forward to providing further updates as we
progress."
Video of Ryan Mee, CEO of Fulcrum, talking about the funding:
Yorkville is an investment manager providing flexible financing solutions to
businesses worldwide. Since its inception, Yorkville has structured and
executed transactions totaling approximately US$7.5 billion with more than 750
companies in 22 countries.
Details of the funding package
· £500,000 cash subscription at a price of 8.75 pence per Ordinary
Share (the "First Equity Subscription Price")
· Up to £5.0 million unsecured convertible loan note issuance split
into two equal amounts of £2.5 million with the loans being advanced in the
following tranches:
o £1.0 million gross (£900,000 net of deductions) drawn down immediately;
o £1.5 million to be drawn down following the Company putting in place the
necessary share authorities at a general meeting to be convened on 22 May
2026; and
o £2.5 million to be advanced upon request by the Company upon satisfaction
of certain conditions and subject to the prior written consent of YA, in its
sole discretion, at any time until 30 days after the first anniversary of the
drawdown of the First Loan.
· The First Loan is convertible into new Ordinary Shares at 11.375
pence per share and the Second Loan is convertible into Ordinary Shares at a
price which is equivalent to 130% of the VWAP of the Ordinary Shares on the
trading day prior to the advance of the Second Loan
· Additional £500,000 equity subscription at a price which is equal to
the VWAP of the Ordinary Shares on the trading day immediately prior to the
completion date of the Second Loan (as defined below)
· £2.5 million ATM facility to be launched with Clear Capital as the
Company's broker
Admission of First Equity Subscription Shares
Application will be made to the London Stock Exchange for admission of the
5,714,286 new Ordinary Shares to be issued in respect of the First Equity
Subscription to trading on AIM ("Admission"). It is expected that Admission
will become effective and dealings in such Ordinary Shares will commence
at 8.00 a.m. on 11 May 2026.
General Meeting
The Company is seeking shareholder approval to issue shares associated with
this funding package. The Company does not have sufficient authority to
issue all the Ordinary Shares that may be issued on the conversion of the
Loans, the Equity Subscriptions, the exercise of warrants to be issued to YA
(as set out below) and pursuant to the ATM agreement.
While the funding structure is designed to minimise dilution through premium
conversion terms, shareholders should note that future share issuances may
occur under the convertible loan note and ATM facility. The Board believes
this approach provides the optimal balance between funding flexibility and
shareholder value protection.
The Company is therefore convening a general meeting to be held at 11:00 a.m.
on 22 May 2026 at the offices of Druces LLP, Sixth Floor, 99 Gresham Street,
London EC2V 7NG. A circular containing further details of the proposals and
containing the notice of general meeting is expected to be dispatched to
Shareholders on 6 May 2026. Following its publication, the circular will be
available on the Company's website at www.fulcrummetals.com
(//www.fulcrummetals.com) .
The Board strongly believes the resolutions are in the best interests of
shareholders and unanimously recommends voting in favour at the general
meeting.
Extracts from the Chairman's letter of the circular setting out the background
to and reasons for the proposals, and full details on the series of financing
arrangements entered into with YA, is set out below.
FOR FURTHER INFORMATION
Visit: www.fulcrummetals.com (http://www.fulcrummetals.com)
Follow on X: @FulcrumMetals
Contact:
Fulcrum Metals PLC
Ryan Mee (Chief Executive Officer) Via St Brides Partners Limited
Allenby Capital Limited (Nominated adviser)
Nick Athanas / Ashur Joseph Tel: +44 (0) 203 328 5656
Clear Capital Markets Limited (Broker)
Bob Roberts Tel: +44 (0) 203 869 6081
St Brides Partners Ltd (Financial PR)
Ana Ribeiro / Paul Dulieu Tel: +44 (0) 20 7236 1177
"Dear Shareholder,
NOTICE OF GENERAL MEETING
1. Introduction
On 5 May 2026 the Company announced that it had entered into a convertible
loan agreement with YA II PN Ltd whereby YA will lend the Company £5,000,000
and subscribe for up to £1,000,000 of Ordinary Shares. In addition, the
Company will issue warrants to YA to subscribe for Ordinary Shares. The
authority that the Directors currently have under the Companies Act 2006 is
not sufficient to issue all of the Ordinary Shares that may be issued on the
conversion of the Loans, the Equity Subscriptions, the exercise of the
Warrants, and pursuant to the ATM Agreement.
The Company is therefore convening the General Meeting in order to pass
resolutions which will give the Directors the Required Issue Authority and to
explain why the Board considers the Resolutions to be in the best interests of
the Company and its Shareholders as a whole and unanimously recommends that
you vote in favour of the Resolutions.
This document also provides the details of the General Meeting that will be
held at the offices of Druces LLP, Sixth Floor, 99 Gresham Street, London EC2V
7NG on 22 May 2026 at 11:00 a.m. to consider the resolutions that will be put
to Shareholders for approval.
Shareholders should note that if the Resolutions are not both approved at the
General Meeting then this would constitute an event of default under the
Convertible Loan Agreement which will entitle YA to call for immediate
repayment of the amounts already advanced under the Convertible Loan
Agreement.
Part I of this document contains definitions of words and terms that have been
used throughout it. Please refer to Part II as you review this document.
2. Background to, and reasons for, the Convertible Loan Agreement
Fulcrum has completed successful bench-scale, laboratory and optimisation
testing at its Teck Hughes tailings project in Kirkland Lake, Ontario, Canada,
utilising Extrakt's cyanide-free leaching and dewatering technologies. The
next key milestone toward commercialisation of these projects is pilot-scale
testing, which represents a critical de-risking stage.
Fulcrum has engaged Test Design Implement LLC ("TDI"), supported by Extrakt
Process Solutions LLC ("Extrakt") and Bechtel Engineering ("Bechtel"), to
undertake a pilot plant scoping study. This study relates to the potential
implementation of a standalone pilot plant designed to process material from
the Company's Teck Hughes and Sylvanite tailings projects, as well as any
additional opportunities that may arise.
The Board believes there is significant value in further de-risking the
projects through pilot-scale testing. The Company has received expressions of
interest regarding potential funding at both the corporate and project level,
conditional upon the successful completion of pilot-scale testing and further
validation of the results achieved to date.
The Convertible Loan Agreement provides Fulcrum with funding to advance key
objectives associated with pilot plant implementation and project de-risking
through testing, including:
· immediate funding for critical path items, including securing
long-lead equipment, procurement of a pilot plant site, and engagement of key
services for the delivery, fabrication and assembly of the pilot plant; and
· funding associated with the operation of the pilot plant to conduct
pilot-scale testing across the Company's projects. This work is expected to
generate key technical, performance and environmental data to support a final
investment decision on commercial deployment, including validation and further
optimisation of prior bench and laboratory testing, and to support future
permitting activities.
The Convertible Loan Agreement also provides Fulcrum with a degree of
financial flexibility, including:
· conversion terms whereby any amounts converted into Ordinary Shares
are at a 30 per cent premium to the share price at the date of the agreement;
· an initial 60-day period during which no repayments are required,
allowing the Company to assess options for the monetisation of non-core
assets; and
· a structured monthly repayment profile thereafter, enabling the
Company to continue evaluating monetisation opportunities alongside potential
Ontario Government grant funding streams to support pilot plant development
and operations.
3. The Loans
The amount of the Loans and when they are to be drawdown
The Convertible Loan Agreement provides that there will be two Loans, each of
£2,500,000. The First Loan will (because of the need to obtain the Required
Issue Authority) be advanced in two tranches, with the First Tranche (of
£1,000,000) being advanced following the signing of the Convertible Loan
Agreement and the Second Tranche (of £1,500,000) being advanced once the
Company has obtained the Required Issue Authority (i.e. following the passing
of the Resolutions). The Second Loan will be advanced upon request by the
Company upon satisfaction of certain conditions and subject to the prior
written consent of YA ,in its sole discretion, at any time until 30 days after
the first anniversary of the drawdown of the First Loan.
The amount of the First Loan will be subject to the following deductions to be
made by YA: (1) a discount in the amount of 5% of the principal amount of the
First Loan, being (over the two Tranches) £125,000 (of which £50,000 shall
be deducted from the First Tranche); (2) a commitment fee in respect of the
First Loan; and (3) a due diligence fee. The amount of the First Tranche to be
advanced after such deductions will therefore be £900,000. When the Second
Tranche is advanced (i.e. once the Company has obtained the Required Issue
Authority) YA will not make any deductions from the amount advanced.
The amount of the Second Loan will be subject to the following deductions to
be made by YA: (1) a discount in the amount of 5% of the principal amount of
the Second Loan, being £125,000; and (2) a commitment fee in respect of the
Second Loan. The amount of the Second Loan to be advanced after such
deductions will therefore be £2,345,000.
Repayment of the Loans
The Convertible Loan Agreement provides that both Loans shall be repaid in 10
monthly instalments beginning on the 60th day after the advancing of the
relevant Loan and ending on the 330th day after the advancing of the relevant
Loan. Each such instalment shall (unless YA has converted any of the relevant
Loan or made any payments under the ATM Agreement, in each case as described
below) be a payment of £250,000 plus interest accrued during the relevant
month.
In addition, the Company may, if the VWAP of the Ordinary Shares is less than
the Conversion Price, repay either of the Loans by giving notice in writing to
YA. Any such voluntary prepayment of a Loan must be of the entirety of such
Loan (not part only of such Loan). If the Company wants to make any such
voluntary prepayment of a Loan then the Company must also pay YA: (1) the
accrued interest on such Loan; and (2) a prepayment premium equal to 10% of
the principal amount of the relevant Loan which is being repaid.
The Convertible Loan Agreement requires the Company to enter into an ATM
Agreement in respect of the subscription by the ATM Broker for an aggregate
amount of gross proceeds of at least £2,500,000. The Company proposes to
appoint Clear Capital Markets Limited as the ATM Broker. Within two business
days following the receipt by the Company of any proceeds from the ATM
Agreement, the Company is required to notify YA in writing of such receipt and
use such proceeds to prepay the amount of the Loans (and accrued interest) as
so specified by YA. Any such payment prior to a monthly instalment shall have
the effect of reducing the amount due on the next payment of an instalment.
Conversion
YA has the right under the Convertible Loan Agreement to convert all or part
of the Loans and accrued interest into Ordinary Share. The Conversion will be
effected by applying the amount of the relevant Loan and accrued interest to
be Converted in paying up Ordinary Shares at the Conversion Price and so will
reduce the amount to be repaid by the Company to YA.
Other provisions of the Convertible Loan Agreement
The Convertible Loan Agreement contains certain customary conditions precedent
for the advancing of the First Tranche of the First Loan and the advancing of
the Second Loan (as well as the making of the First Equity Subscription and
the Second Equity Subscription). The conditions precedent for the making of
the Second Loan include the condition that the aggregate principal amount of
the Second Loan and Second Equity Subscription do not exceed 50% of the
Company's market capitalisation at the end of the Trading Day immediately
preceding Completion Date for the Second Loan.
The Convertible Loan Agreement provides that certain events will constitute an
"Event of Default". If an Event of Default occurs YA may in its absolute
discretion, by written notice to the Company declare all outstanding amounts
under the Loans, any interest thereon and any Payment Premium payable to be
immediately due and payable, together with any other sums then owed by the
Company to YA and, upon that declaration, such sums shall become immediately
due and payable without further demand or notice of any kind. Events of
Default include:
· the Company fails to repay any portion of the Loans, interest on the
Loans or any Payment Premium when due or within five Trading Days after such
payment is due;
· the Company being in material breach of any warranties or
undertakings in the Convertible Loan Agreement or certain documents entered
into pursuant to the Convertible Loan Agreement;
· certain events relating to the insolvency or winding up of the
Company or any of its subsidiaries;
· a material adverse change in the assets, financial or trading
position or prospects of the Group;
· the suspension of Ordinary Shares from trading on AIM for more than
10 consecutive Trading Days; and
· the Company failing to obtain the Relevant Issue Authority.
It is a condition to the advancing of the Loans that Fulcrum Metals Ltd,
Fulcrum Metals (Canada) Limited, Fulcrum Metals No. 2 (Canada) Limited and
Fulcrum Envirotech Corp (which are all subsidiaries of the Company) provide a
guarantee to YA of the obligations of the Company under the Convertible Loan
Agreement.
4. Equity subscriptions
YA has agreed to make the First Equity Subscription and the Second Equity
Subscription, which are each for £500,000.
The Subscription Price for the First Equity Subscription shall be 8.75p and
the Subscription Price for the Second Equity Subscription shall be the VWAP of
the Ordinary Shares on the Trading Day immediately prior to the Completion
Date of the Second Loan.
5. Warrants
The Company has agreed to issue two series of Warrants to YA. Those Warrants
will be issued at the same as the First Tranche of the First Loan is made and
as the Second Loan is made. Both series of Warrants are exercisable for a
three-year period from the date of issue of such Warrants and the aggregate
exercise price of both series of Warrants will be £625,000 (being equal to
25% of the amount advanced under the First Loan or (as the case may be) the
Second Loan).
Both series of Warrants will be exercisable at the Warrant Exercise Price
(being 13.125p in respect of the First Warrants and 150% the VWAP of the
Ordinary Shares on the Trading Day immediately prior to the Completion Date of
the Second Loan in respect of the Second Warrants.
The Company may require YA to exercise its Warrants if the price of Ordinary
Shares has been trading at 130% or more of the relevant Warrant Exercise Price
for a period of at least 20 consecutive dealing days and no event of default
has occurred under the Convertible Loan Agreement.
6. General Meeting and the Resolutions
The Notice of General Meeting is set out in Part III of this document.
The General Meeting will take place at the offices of Druces LLP, Sixth Floor,
99 Gresham Street, London EC2V 7NG at 11.00 a.m. on 22 May 2026 to consider
the Resolutions that will be put to Shareholders for approval.
Resolution 1, which will be proposed as an ordinary resolution, is to give the
Directors authority pursuant to section 551 of the Act (in addition to the
existing authorities given pursuant to section 551) to allot Ordinary Shares
or rights to subscribe for, or convert any security into, Ordinary Shares to:
permit the full conversion of the Loans at the Conversion Price; issue all the
Ordinary Shares that will be required to be issued pursuant to the First
Equity Subscription and the Second Equity Subscription; issue the Warrants;
and issue all the Ordinary Shares that will be required to be issued pursuant
to the ATM Agreement.
Resolution 2, which will be proposed as a special resolution (and which is
subject to and conditional on the passing of Resolution 1, and which is in
addition to the existing disapplications of the statutory pre-emption rights)
, is to disapply the statutory pre-emption rights to: permit the full
conversion of the Loans at the Conversion Price; issue all the Ordinary Shares
that will be required to be issued pursuant to the First Equity Subscription
and the Second Equity Subscription; issue the Warrants; and issue all the
Ordinary Shares that will be required to be issued pursuant to the ATM
Agreement.
7. Action to be taken in respect of the General Meeting
Please complete and return the Form of Proxy as soon as. To be valid, a Form
of Proxy must be returned so as to be received by Neville Registrars Limited,
Neville House, Steelpark Road, Halesowen, B62 8HD as soon as possible but in
any event so as to arrive no later than 11.00 a.m. on 20 May 2026. The
completion and return of the Form of Proxy will not prevent you from attending
and voting at the General Meeting in person.
If the Resolutions are not both passed and therefore the Company fails to
obtain the Relevant Issue Authority then this will be an Event of Default
under the Convertible Loan Agreement and (as described in paragraph 3 above),
YA may in its absolute discretion, by written notice to the Company declare
all outstanding amounts under the Loans, any interest thereon and any Payment
Premium payable to be immediately due and payable.
8. Recommendation
The Board considers the Resolutions to be in the best interests of the Company
and its Shareholders as a whole and the Board unanimously recommend that you
vote in favour of the Resolutions to be proposed at the General Meeting as
they intend to do in respect of their own shareholdings. The Directors are
interested in an aggregate of 26,006,671 Ordinary Shares representing
approximately 17.65% of the Ordinary Shares in issue at the date of this
Circular.
Yours faithfully
Mitchell Smith
Non-executive Chairman
DEFINITIONS
The following definitions apply throughout this document and the accompanying
Form of Proxy unless the context otherwise requires:
"Act" Companies Act 2006, as amended;
"AIM" the AIM market operated by the London Stock Exchange;
"ATM Agreement" an "at-the-market" subscription agreement whereby the ATM Broker will agree to
provide a facility equity issuance program to enable the Company raise capital
from time to time and under which the ATM Broker act as the Company's agent
(in accordance with the agreement) to sell newly issued Ordinary Shares;
"ATM Broker" Clear Capital Markets Limited;
"Board" or "Directors" the directors of the Company, whose names are set out in Part II of this
document, or any duly appointed committee thereof;
"Circular" this circular dated 6 May 2026 issued to Shareholders, containing the Notice
of General Meeting;
"Company" or "Fulcrum Metals" Fulcrum Metals PLC, a company incorporated in England and Wales with
registered number 14409193 and having its registered office at Unit 58,
Basepoint Business Centre Isidore Road, Bromsgrove Enterprise Park,
Bromsgrove, Worcestershire, B60 3ET;
"Completion Date" in respect of either tranche of the First Loan and in respect of the Second
Loan, the date on which it is funded to the Company in accordance with the
Convertible Loan Agreement;
"Conversion" the conversion of any part of the Loans and accrued interest into Ordinary
Shares and "Convert" and "Converted" shall be construed accordingly.
"Conversion Price" (1) in respect of the First Loan, 11.375p (being 130% of 8.75p); and (2) in
respect of the Second Loan, 130% of the VWAP of the Ordinary Shares on the
Trading Day immediately prior to the Completion Date of the Second Loan;
"Convertible Loan Agreement" the convertible loan agreement dated 1 May 2026 entered into between the
Company (1) and YA (2);
"CREST" the relevant system (as defined in the CREST Regulations) in respect of which
Euroclear UK & International Limited is the Operator (as defined in the
CREST Regulations);
"CREST Regulations" the Uncertificated Securities Regulations 2001 (SI2001/3755) (as amended);
"First Equity Subscription" the subscription by YA for £500,000 worth of Ordinary Shares at the
Subscription Price;
"First Loan" the principal amount of £2,500,000 to be advanced by YA to the Company in two
tranches in accordance with the Convertible Loan Agreement;
"First Tranche" the principal amount of £1,000,000 to be advanced by YA to the Company in
accordance with the Convertible Loan Agreement;
"First Warrants" the warrants to be issued on the Completion Date for the First Tranche of the
First Loan;
"Form of Proxy" the form of proxy accompanying this document relating to the General Meeting;
"General Meeting" or "GM" the general meeting of the Company to be held on 22 May 2026, notice of which
is set out at the end of this document and including any adjournment(s)
thereof;
"Group" the Company and its subsidiaries and subsidiary undertakings (in each case as
defined in the Act) from time to time;
"Loans" the First Loan and the Second Loan;
"London Stock Exchange" London Stock Exchange plc;
"Notice of General Meeting" the notice of General Meeting, set out in Part III of this document, and any
adjournment thereof;
"Ordinary Shares" ordinary shares of 1 penny each in the capital of the Company;
"Payment Premium" an amount in £ equal to 10% of the principal amount of the Loans being
repaid;
"Pounds" or "£" UK pounds sterling, the lawful currency of the United Kingdom, and the
expression "pence" shall be construed and interpreted accordingly;
"Registrars" Neville Registrars Limited, Neville House, Steelpark Road, Halesowen, B62 8HD;
"Resolutions" the two resolutions to be proposed at the General Meeting;
"Required Issue Authority" the authority to the Directors which it is proposed be granted by the passing
of the Resolution, which will enable the Company to: permit the full
conversion of the Loans at the Conversion Price; issue all the Ordinary Shares
that will be required to be issued pursuant to the First Equity Subscription
and the Second Equity Subscription; issue the Warrants; and issue all the
Ordinary Shares that will be required to be issued pursuant to the ATM
Agreement;
"Second Equity Subscription" the subscription by YA for £500,000 worth of Ordinary Shares at the
Subscription Price;
"Second Loan" the principal amount of £2,500,000 to be advanced by YA to the Company in
accordance with the Convertible Loan Agreement;
"Second Warrants" the warrants to be issued on the Completion Date for the Second Loan;
"Subscription Price" (1) in respect of the First Equity Subscription, 8.75p; and (2) in respect of
the Second Equity Subscription, the VWAP of the Ordinary Shares on the Trading
Day immediately prior to the Completion Date of the Second Loan;
"Shareholders" holders of Ordinary Shares;
"Trading Day" any day during which trading of Shares on AIM takes place;
"VWAP" for any Trading Day, the volume weighted average price of the Ordinary Shares
on AIM as reported by Bloomberg LP;
"Warrants" the First Warrants and/or the Second Warrants;
"Warrant Exercise Price" (1) in respect of the First Warrants, 13.125p; and (2) in respect of the
Second Warrants, 150% of the VWAP of the Ordinary Shares on the Trading Day
immediately prior to the Completion Date of the Second Loan;
"YA" YA II PN Ltd, an exempted company incorporated in the Cayman Islands with
limited liability and whose principal office is at 1012 Springfield Avenue,
Mountainside, NJ 07092 USA"
Notes to Editors
About Fulcrum Metals PLC
Fulcrum Metals PLC (AIM: FMET) is an AIM listed technology led natural
resources company focused on recovery of precious metals from mine tailings
(previously milled and processed ore) in Canada using environmentally friendly
leaching technology developed by Extrakt Process Solutions LLC and its
associates (together "Extrakt"). The Company's current projects are the
tailing sites of the former Teck-Hughes and Sylvanite gold mines, located in
the Kirkland Lake region of Ontario. In addition, the Company has interests in
a portfolio of highly prospective mineral exploration and development projects
in both Ontario and Saskatchewan Canada.
Fulcrum has an agreement for exclusivity rights in respect of any licensed use
of Extrakt's proven cyanide free technology on legacy gold mine waste sites
over the mining districts of Timmins and Kirkland Lake. These are two of
Canada's biggest gold camps with a historical production above 110Moz over the
past 100 years, leaving more than 70 documented legacy mine waste sites.
Fulcrum is now focused on the development of its Teck-Hughes and Sylvanite
projects towards production using Extrakt's technology and positioned to scale
the concept across two of Canada's historically most productive gold regions.
Fulcrum believes this represents a substantial, long-term opportunity to
unlock significant and largely untapped value from legacy mine waste.
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