Formation Metals Stock Price, News & Analysis

Formation Metals (OTCQB:FOMTF) closed the first tranche of private placements on October 15, 2025, raising $8,262,389.48 in gross proceeds to fully fund a planned 20,000 metre multi‑phase drill program at the advanced N2 Gold Project in Quebec.

Phase 1 (10,000 m) began on September 25, 2025 targeting the shallow A zone and high‑grade RJ zone. The company reports ~C$12.7M working capital, zero debt, and a 2025–2026 exploration budget of ~$8.1M inclusive of Quebec tax credits.

Formation Metals (OTCQB:FOMTF) upsized its previously announced LIFE and concurrent flow-through private placements to C$8.6M on October 14, 2025.

The Amended LIFE Offering targets up to 17,847,838 LIFE Units at $0.37 (warrants exercisable at $0.54 for 36 months) and a concurrent FT Private Placement of up to 4,878,049 FT Units at $0.41 (FT warrants exercisable at $0.62 for 24 months) for combined gross proceeds of up to C$8.6M.

Proceeds would raise working capital to ~C$13M, increase the exploration budget to ~C$8.5M+, and fund a multi‑phase 20,000 metre drill program (Phase 1: fully funded 10,000 m, started Sept 25, 2025) at the N2 Gold Project in Quebec.

Formation Metals (OTCQB:FOMTF) has announced that its previously announced $6 million private placement offering is now fully allocated. The offering consists of 10,810,810 LIFE Units at $0.37 per unit for $4 million and 4,878,049 flow-through units at $0.41 per unit for $2 million.

The company is currently executing a 20,000-metre drill program at its flagship N2 Gold Project in Quebec, which hosts a historic resource of ~870,000 ounces of gold. Phase 1, comprising 10,000 metres, began on September 25, 2025. The company has ~C$5.0M working capital with zero debt, and the new financing would increase working capital to ~$10.5M.

Formation Metals (OTCQB:FOMTF) has announced a significant private placement to raise up to $6 million through two offerings. The company plans a non-brokered private placement of up to 10,810,810 LIFE Units at $0.37 per unit for gross proceeds of up to $4 million, and a flow-through private placement of up to 4,878,049 FT Units at $0.41 per unit to raise up to $2 million.

The funds will support Formation's 20,000-metre drill program at its flagship N2 Gold Project in Quebec, which hosts a historic resource of approximately 870,000 ounces of gold. The company has already commenced Phase 1 (10,000 metres) on September 25, 2025, targeting the "A" zone with ~522,900 ounces and the high-grade "RJ" zone.

Formation currently has working capital of ~C$5.0M with zero debt. If fully subscribed, the financings would increase the company's working capital to ~$10.5M, supporting its 2025-2026 exploration budget of ~$5.7M.

Formation Metals (OTCQB:FOMTF) has launched a fully funded 10,000-metre drill program at its flagship N2 Gold Project near Matagami, Quebec. The project hosts a historic resource of approximately 870,000 ounces of gold, with 18 Mt grading 1.5 g/t Au across four zones and 243 Kt grading 7.82 g/t Au in the RJ zone.

Phase 1 will focus on the "A" zone, containing ~522,900 ounces with only 35% of strike drilled, and the "RJ" zone, which features high-grade intercepts up to 51 g/t Au. The company maintains a strong financial position with ~C$5.0M working capital and zero debt, with a 2025-2026 exploration budget of ~$5.7M including Quebec tax credits.

The property also shows significant base metal potential, with historic drill holes revealing copper and zinc intercepts ranging from 200-4,750 ppm and 203-6,700 ppm respectively.

Formation Metals (OTCQB:FOMTF) has received all necessary drilling permits and mobilized to commence a fully funded 10,000-metre drill program at its N2 Gold Property in Quebec. The company has ~C$4.9M working capital with zero debt and a ~$5.7M exploration budget for 2025-2026.

The N2 Gold Project features a historic resource of ~870,000 ounces of gold, including 18 Mt grading 1.4 g/t Au (~809,000 oz) across four zones and 243 Kt grading 7.82 g/t Au (~61,000 oz) in the RJ zone. Phase 1 drilling will focus on the "A" zone (522,900 oz at 1.52 g/t Au) and high-grade "RJ" zone.

Additionally, Formation announced a non-brokered private placement to raise up to C$700,000 through the issuance of flow-through units at C$0.37 per unit.

Formation Metals (OTCQB:FOMTF) has announced the mobilization of its technical team to the N2 Gold Project in Matagami, Quebec, ahead of a fully funded 10,000-metre drill program. The project hosts a historic resource of approximately 870,000 ounces of gold, with grades of 1.4 g/t Au across four zones and 7.82 g/t Au in the RJ zone.

The company has secured a strong financial position with working capital of C$5.3M and zero debt. Including Quebec provincial tax credits, Formation's 2025-2026 exploration budget is set at ~$5.7M. The company recently closed a final tranche of its private placement, raising $403,845.74 through charity flow-through units.

The drilling program will focus on the "A" zone, which contains 522,900 ounces of the historic resource, and the high-grade "RJ" zone, where previous drilling yielded intercepts as high as 51 g/t Au. The project also shows significant base metal potential, with copper and zinc intercepts ranging from 200 to 4,750 ppm and 203 to 6,700 ppm, respectively.

Formation Metals (OTCQB:FOMTF) has successfully closed a $2.33M financing through multiple tranches of flow-through units priced up to $0.50/unit. The company has expanded its maiden drill program at the N2 Gold Project in Quebec to 10,000 metres, fully funded as part of a planned 20,000-metre multi-phase program.

The N2 Gold Project hosts a historic resource of ~870,000 ounces gold, including 18 Mt grading 1.4 g/t Au (~809,000 oz) across four zones and 243 Kt grading 7.82 g/t Au (~61,000 oz) in the RJ zone. With ~$5M in working capital and a $5.1M exploration budget for 2025-2026, Formation is positioned to complete its $5M work commitment to earn 100% of N2 four years ahead of schedule.

The program will focus on the A Zone, which contains ~522,900 oz Au with only 35% of strike drilled, and the high-grade RJ Zone, where historical drilling revealed intercepts up to 51 g/t Au. Drilling is expected to commence in early August 2025.

Formation Metals (OTCPK:FOMTF) has expanded its maiden drill program at the N2 Gold Project in Quebec to a fully funded 7,500 metres, as part of a planned 20,000-metre multi-phase program. The project hosts a historic resource of approximately 870,000 ounces of gold, with 18 Mt grading 1.4 g/t Au across four zones and 243 Kt grading 7.82 g/t Au in the RJ zone.

The Phase 1 program will target expansion in the "A" zone, which contains ~522,900 ounces with only 35% of strike drilled, and the "RJ" zone, which features high-grade intercepts up to 51 g/t Au. The company has filed its 30-day exploration notice and plans to commence drilling in July 2025. Formation also announced two concurrent private placements totaling C$2.1 million to fund exploration activities.

The company has identified significant base metal potential at N2, with copper and zinc intercepts ranging from 200-4,750 ppm and 203-6,700 ppm respectively. Formation maintains a strong financial position with working capital of approximately C$2.6 million.