Fulcrum Metals shares rise on 'excellent' Teck Hughes recoveries
Fulcrum Metals PLC on Tuesday said preliminary results for its Teck-Hughes mine tailings project achieved over 70% in gold and silver recoveries.
Shares rose 6.5% to 7.19 pence on Tuesday morning in London.
The Canada-focused exploration firm said there was an increase in gold leach recoveries to above 70% from 59%. High silver leach recoveries were above 70%, having not been previously tested.
Fulcrum said it has extended the leach programme to assess final recoveries and potential extraction of other metals such as gallium and tellurium.
It expects the final results from the phase 3 metallurgical testing in the first quarter of 2026.
The results will support a mineral resource estimate before leading into a phase 4 preliminary feasibility study.
‘Our preliminary results of the detailed metallurgical work with Extrakt’s cyanide-free technology is already delivering materially higher gold recovery rates and high silver recovery rates,’ Chief Executive Ryan Mee said.
‘The combination of these excellent preliminary recoveries and with gold currently over $4,000/Oz has the potential to justify significant increases in Fulcrum’s NPV of $33m for Teck Hughes,’ Mee said.
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