---
title: "First Class Metals (LON:FCM) Secures £500,000 Convertible Loan to Fund North Hemlo Drilling"
publisher: "Share Talk"
author: "sharetalk"
published: "2025-11-12T08:51:01+00:00"
modified: "2025-11-12T08:51:01+00:00"
date: 2025-11-12
canonical: "https://www.share-talk.com/first-class-metals-lonfcm-secures-500000-convertible-loan-to-fund-north-hemlo-drilling/"
category: "Mining"
categories: ["Mining"]
tags: ["Ayub Bodi", "canada", "Canadian", "Coco East", "Danesh Varma", "Enable", "FCM", "First Class Metals", "Hemlo", "James Knowles", "Jason Robertson", "Magical", "Marc Bamber", "Marc Sale", "McKellar", "Mr. Stefan Müller", "North Hemlo", "Ontario", "Palladium One", "PDM", "Schreiber", "Share Talk", "Sugar Cube"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/11/MARC-12-NOV.webp?fit=1200%2C800&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# First Class Metals (LON:FCM) Secures £500,000 Convertible Loan to Fund North Hemlo Drilling

**Published:** November 12, 2025
**Author:** sharetalk
**Categories:** Mining
**Tags:** Ayub Bodi, canada, Canadian, Coco East, Danesh Varma, Enable, FCM, First Class Metals, Hemlo, James Knowles, Jason Robertson, Magical, Marc Bamber, Marc Sale, McKellar, Mr. Stefan Müller, North Hemlo, Ontario, Palladium One, PDM, Schreiber, Share Talk, Sugar Cube
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/11/MARC-12-NOV.webp?fit=1200%2C800&quality=80&ssl=1)

---

[First Class Metals PLC](https://firstclassmetalsplc.com/announcements/7257797?utm_medium=email&utm_source=distribution&utm_campaign=deid-39140) has raised **£500,000** through an **interest-free Convertible Loan Note (CLN)** with an **international institutional investor**, providing funding for its upcoming **drilling campaign** on the **Dead Otter trend** at the **North Hemlo Property** in Ontario. The program will target a **high-grade 19 g/t gold anomaly** identified in previous exploration.

The loan carries a **twelve-month maturity** with **mandatory conversion at maturity**, while the company retains the right to **redeem the balance at 125% of nominal value**.

In addition, the investor has been granted an **option to purchase £250,000 in warrants**, exercisable at **120% of the closing market price** on **11 November 2025**, when shares closed at **3.18 pence**.

First Class Metals also confirmed that **negotiations for a potential asset sale are progressing**, with **due diligence complete** and **commercial terms agreed**, signalling a period of active corporate development alongside the company’s exploration plans.

**James Knowles, Executive Chairman commented:**

“This agreement with the Investor provides FCM with the immediate flexibility to advance exploration at North Hemlo, where the planned drilling campaign represents a pivotal and exciting phase for the Company. The support of an institutional investor at this critical juncture underscores confidence in our portfolio and in our strategy to unlock shareholder value through both the continued development and monetisation of our assets.”

We have  prepared a short video summary of this announcement that you can view directly here: [https://firstclassmetalsplc.com/link/P4xZQP](https://firstclassmetalsplc.com/link/P4xZQP)

For further information, please contact:

James Knowles, Executive Chair

Email: [JamesK@Firstclassmetalsplc.com](mailto:JamesK@Firstclassmetalsplc.com)

Tel: 07488 362641

Marc J Sale, CEO, Executive Director

Email: [MarcS@Firstclassmetalsplc.com](mailto:MarcS@Firstclassmetalsplc.com)

Tel: 07711 093532

---

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