First Class Metals plc has secured new interest-free convertible loan note for up to £1 million with an international investor. WARRANTS The financing, agreed at the end of January, will fund inaugural drilling on the Sunbeam gold property in Ontario, Canada as well as general working capital. The interest-free convertible loan notes are of £1 […]
Tag: Sunbeam gold property
First Class adds rare earths to Ontario footprint
First Class Metals plc plans to add rare earths elements to its portfolio with three-year options over two properties in northwest Ontario, Canada. BATHOLITH Block H and F, covering 18km² and 33km² respectively, lie within “one of the most anomalous REE regions”, as identified in the province-wide lake sediment geochemical database, containing 48,367 samples. Both […]
First Class expands Sunbeam gold property
First Class Metals plc has expanded its Sunbeam gold exploration property in Ontario with an option for two further blocks, called Sunbeam South East (SE), taking the total acreage to around 90km2. LOCATION The company will pay C$31,000 cash and C$55,000 in ordinary shares of £0.001, each over three years. On signing the agreement, First […]
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 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 […]
FCM loan increases for North Hemlo-Sunbeam
First Class Metals plc’s existing loan has further increased from £500,000 to £700,000 for the North Hemlo and Sunbeam gold projects in Ontario, Canada. DRILLING The money from Seventy Ninth Group Ltd, which initially loaned £230,000 in June, adds to the investor’s proposed £2.18 million financing. Funds will be drawn in a single tranche and […]