Metals One (MET1 ) has increased its investment in through the exercise of just over 2.9 million warrants at 5p.
Metals One now holds 8.75 million shares in Fulcrum, a stake amounting to 6.33%.
Fulcrum is an Aim-traded pioneer in the application of innovative cyanide-free technologies to recover precious and critical metals from mine waste.
Metals One initially invested £175,000 in Fulcrum in July 2025 and has made an unrealised gain on the initial investment to date of over 100%.
Additionally, Fulcrum has issued Metals One new warrants over just under 1.5 million shares with an exercise price of 10p.
"Metals One is pleased with the progress Fulcrum is making with the development of the Teck-Hughes and Sylvanite projects in Canada where Fulcrum is focused on using environmentally friendly leaching technology developed by Extrakt Process Solutions to recover precious metals from mine tailings,” said Daniel Maling, managing director of Metals One.
“This progress is being reflected in Fulcrum's share price - which has already more than doubled since our investment six months ago - and Metals One is pleased to increase its exposure to this company through an increased shareholding and new warrants as Fulcrum accelerates the next stages of development work."
View from Vox
It’s been good to see the gains booked by Fulcrum over the past year or so, and to see Metals One benefit accordingly. The gains are already substantial, but Metals One is keeping the faith and strengthening its position. That’s hardly surprising, given the wider backdrop of a broad recovery in sentiment in the mining sector, and the increasing focus on the environmental aspects of mining. Fulcrum offers exposure to both, and plenty of likely newsflow in the coming months.