- Fulcrum Metals
- 09 March 2026 13:20:09
Source: Sharecast
The AIM-traded company said it issued five million new ordinary shares at 11p each, representing a premium of about 4.8% to the closing mid-market price on 6 March.
It said the fundraising strengthened its balance sheet and would support work programmes linked to its tailings projects and pilot plant strategy.
The proceeds would be used to advance a pilot scoping study, progress work towards mineral resource estimates and evaluate potential integrated production scenarios.
“We are pleased to welcome a new investor who recognises the opportunity in Fulcrum's innovative cyanide free strategy and approach to tailings and its tailings portfolio,” said chief executive Ryan Mee.
“The funds raised will provide additional flexibility to complete important workstreams underway, in particular the pilot scoping study.
“We look forward to updating shareholders as these work programmes advance.”
In addition, Fulcrum issued 227,273 new shares at the same price to a service provider to settle £25,000 in fees related to the subscription.
Following publication of its audited results for the year ended 31 December, the company said its remuneration committee intended to introduce share option plans for executive directors and staff to support growth and align incentives with shareholders.
Any options granted were expected to have an exercise price of 11p, matching the subscription price, with a potential option pool of up to 10% of the company’s issued share capital at the time of grant.
Application was made for the admission of 5,227,273 new shares to trading on AIM, with admission expected on or around 12 March.
After admission, Fulcrum’s issued share capital would comprise 147,358,025 ordinary shares, each carrying one voting right.
At 1252 GMT, shares in Fulcrum Metals were up 2.38% at 10.75p.
Reporting by Josh White for Sharecast.com.