First Class Metals plc has started a minimum 700-metres of NQ diamond core drilling on its North Hemlo gold-molybdenum-nickel-copper property in Ontario, Canada. DEVELOPMENT The Dead Otter trend is the priority target, followed by at least two further locations including Dead Otter trench. The company said it had also begun interpretation of the very low […]
Tag: First Class Metals plc
First Class secures £500,000 CLN
First Class Metals plc has agreed a convertible loan note for £500,000 with an “international institutional investor” to fund drilling the Dead Otter gold trend on North Hemlo in Ontario, Canada. USES The interest-free CLN matures in 12 months and has a conversion price of 80% of the lowest five-day VWAP prior to any conversion notice. The […]
First Class reappoints CEO as executive director
First Class Metals plc has reappointed chief executive officer Marc J. Sale as an executive director, with immediate effect. VISION Chairman James Knowles said that the board appointment ensured “full alignment at a pivotal stage” in the Ontario-focused company’s development. “With Marc’s proven vision, technical expertise, and deep understanding of our portfolio, the company is […]
First Class advances Sunbeam exploration
First Class Metals plc is refining targets for a possible drilling campaign within the Sunbeam gold property, one of its two main projects in Ontario, Canada. GRANT The project holds three development sites of the past producing Sunbeam mine, Roy and Pettigrew. Exploration work on the 88km2 site has progressed to include the collection of […]
FCM issues 16m shares as settlements
First Class Metals plc has issued 15,914,535 new ordinary shares to clear a shares loan, meet options and accelerated share-based payments, and satisfy professional fees for its projects in Ontario, Canada. PROPERTIES The company allotted 9,500,001 new ordinary shares of £0.001 each to executive chairman James Knowles to settle his loan of shares. The company […]
FCM raises £520,000 and plans asset cash sale
First Class Metals plc has boosted its finances with a £520,000 fundraise and proposed cash sale of one of its properties in Northern Ontario, Canada. PROGRESS Chairman James Knowles said that the company had to act decisively following the withdrawal of the second stage investment from The Seventy Ninth Group, which is subject of Police […]