Fulcrum Metals (FULMF) reported interim results and signed a piloting agreement for a facility planned to process up to 2.4 tonnes per day. For the six months ended 30 June 2026, Teck-Hughes Phase 3 testing achieved 78% gold recovery, a 31% relative improvement over Phase 1. A completed 159-hole auger programme provided data for a planned mineral resource estimate.
The TDI agreement covers the pilot’s design through operation. Fulcrum secured a £6 million Yorkville package comprising up to £5 million in convertible loan notes and up to £1 million in equity funding. The first £2.5 million loan tranche has been drawn; the second remains undrawn. Fulcrum also raised £550,000 at 11 pence per share and, after the period, £250,000 at 7 pence per share. Proposed US$20 million Chancery royalty financing remains conditional on successful pilot testing and other requirements.