Formation Metals Stock Price, News & Analysis

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.

Formation Metals (FOMTF) has filed a 30-day notice for its planned 20,000-metre multi-phase drill program at the N2 Gold Project in Quebec. 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. Phase 1 consists of a fully funded 5,000-metre program targeting expansion in the A zone and RJ zone. The A zone contains ~522,900 ounces with only 35% of strike drilled, while the RJ zone features high-grade intercepts up to 51 g/t Au. The company has C$2.8M in working capital and recently raised C$1.65M through a flow-through private placement. Formation has also identified significant base metal potential with copper and zinc intercepts in historic drill holes.

Formation Metals has engaged StratExplo to manage a 20,000-metre multi-phase drill program at its N2 Gold Project in Quebec. The project contains a historical resource of 870,000 ounces of gold across multiple zones. The initial 5,000-meter program, starting Summer 2025, will focus on the A Zone (522,900 oz @ 1.52 g/t Au) and RJ Zone (61,100 oz @ 7.82 g/t Au). The company aims to expand the resource to over 3 million ounces. Formation also announced a flow-through private placement to raise up to $2 million at $0.35 per unit, with warrants exercisable at $0.60 for two years. The N2 property, spanning 4,400 ha in the Abitibi region, has shown potential for both gold and base metals, with historical copper values up to 4,750 ppm and zinc up to 6,700 ppm.

Formation Metals (FOMTF) has announced a 20,000-metre multi-phase drill program at its flagship N2 Gold Project in Quebec. The project currently has a historic resource of ~870,000 ounces of gold across five zones. The first 5,000 metres of drilling is fully funded and set to begin this summer, pending permit approval expected within 30-40 days. The program targets two main zones: - A Zone: Contains ~522,900 gold ounces (10.7 Mt @ 1.52 g/t Au) with historical intercepts up to 1.7 g/t over 35 metres - RJ Zone: Contains ~61,100 gold ounces (243 Kt @ 7.82 g/t Au) with best intercepts of 48 g/t over 0.5 metres The company aims to expand the historical resource into a near-surface multi-million-ounce deposit, targeting potential for over three million ounces of gold. The timing aligns with current gold prices at $3,200, approximately four times higher than when Agnico-Eagle last drilled the project in 2008.