Formation Metals Stock Price, News & Analysis

Formation Metals (OTCQB:FOMTF) reported wide near-surface mineralized intercepts at its N2 Gold Project in Quebec, including 152.9 m from 23.1 m in N2-25-003 and 208.8 m from 28.6 m in N2-25-008, with multiple long internal intervals (up to 70.0 m).

The company is running a fully funded 30,000 metre drill program (Phase 1 = 10,000 m started Sept 25, 2025), targets a multi-million ounce conceptual open-pit resource, and reports working capital of ~C$13.5M with zero debt and an exploration budget of ~C$8.1M (including provincial tax credits).

Formation Metals (OTCQB:FOMTF) reports visible gold in two early drill holes at its N2 Gold Project in Quebec during Phase 1 of a fully funded 30,000 metre program. Visible gold occurred in N2-25-001 (4.5 m) and N2-25-013 (30.8 m) within quartz-carbonate, pyrite-hosted veins. The company reports working capital of ~C$13.7M, zero debt, and a 2025-26 exploration budget of ~C$8.1M inclusive of provincial tax credits. N2 hosts a historic global resource of ~~871,000 oz Au (including ~522,900 oz in the A zone and ~61,100 oz in the RJ zone); historic assays and resources are being treated as historic and not yet verified.

Formation Metals (OTCQB:FOMTF) reports visible gold intercepts during Phase 1 of a fully funded 30,000 metre drill program at its N2 Gold Project in Quebec.

Visible gold was logged in holes N2-25-001 and N2-25-013 (the latter within a 30.8 metre mineralized interval). Phase 1 (10,000 m) began on September 25, 2025. N2 hosts a global historic resource of ~871,000 oz (18 Mt @ 1.4 g/t Au plus 243 kt @ 7.82 g/t Au in RJ). Formation reports working capital of ~C$13.7M, zero debt, and a 2025-26 exploration budget of ~C$8.1M inclusive of provincial tax credits.

Formation Metals (OTCQB:FOMTF) closed the second tranche of its private placement on October 31, 2025, raising $8,456,619.81 by issuing 17,837,838 LIFE units at $0.37 and 4,528,341 flow-through units at $0.41.

Following the close the company reports ~C$12.7M working capital, zero debt, and a 2025-2026 exploration budget of ~C$8.1M (inclusive of Quebec tax credits). Formation expanded the N2 Gold Project drill program to 30,000 metres targeting A, RJ and Central zones and plans follow-up base metal work.

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.