Added to YB: 2026-10-06
Pitch date: 2026-09-30
FOMO.CN [bullish]
Formation Metals Inc.
-12.5%
current return
Author Info
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Company Info
Formation Metals Inc. engages in the acquisition and exploration of mineral property assets in Canada.
Market Cap
CAD 49.0M
Pitch Price
CAD 0.32
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-3.12
EV/Sales
N/A
Sector
Metals and Mining
Category
growth
Formation Metals Adds a Southern Horizon and an Iconic Strategic Advisor
FOMO.CN (update): Formation Metals controls an 871,000-ounce historical gold resource in Quebec’s Abitibi belt; drilling has extended the A-Zone north and confirmed mineralization nearly 150 metres below where historical drilling stopped. CEO Deepak Varshney says a new Southern Horizon more than doubles the prospective target area within the Western Corridor, while near-surface drilling returned 0.98 g/t gold over 95.6 metres. The company is debt-free and funded through 2027; a maiden NI 43-101 resource estimate is expected to quantify what the drills are finding.
Read full article (2 min)