First Class Metals #FCM – Annual Financial Report
Corporate Developments
· The Company maintained operational discipline while progressing exploration on the core gold and critical metals projects.
Exploration and Operations
· Review of the historical core from the Sunbeam property was undertaken which potentially increases the geological and geochemical profile of the target zones.
· Exploration of the Dead Otter trend confirms the prospectivity, as well as potentially increasing the width of the structure anomalous in gold (Au).
· Acquisition of the Kerrs Gold Project with a historic NI43-101 resource.
Post-Period Events
· On 25 February 2025, The Seventy Ninth Group Limited completed an equity injection of approximately £548,000 and full repayment of all outstanding Company debt. under the strategic investment agreement announced on the 18 December 2024.
· The Company is actively reviewing its position in light of emerging regulatory matters involving The Seventy Ninth Group, applying a prudent and governance-led approach.
· Further winter work programmes initiated at priority projects, maintaining focus on value-driven exploration and critical mineral development
Link here for the full announcement and financial statements