Telegram q and a post on advfn good explanation on CLN13 Nov 2025 08:50
Q&A on Telegram tonight confirmed exactly what I’ve been thinking.
This is clearly a stop-gap measure — a CLN that’ll be repaid as soon as the asset sale completes. And let’s not forget, the sale involves multiple assets in a large-scale purchase, so it’s no surprise it hasn’t gone through just yet — yet being the key word.
The CLN is simply to get drilling started at North Hemlo, which is a smart move. The area has already shown huge potential, and if the upcoming drilling programme delivers what’s expected, it could be a real game-changer for FCM. Once the asset sale finalises, the CLN gets repaid and the company moves forward with significant momentum. The potential here is enormous.
North hemlo potential as discussed by James Knowles in the Q and A this evening.
In reply to a question about Barrick being onsite last year...
"We’ve never confirmed or denied that Barrick had been onsite, but what we can say is that Barrick are in the process of selling the Hemlo Mine. Hemlo is an iconic gold operation, one of the largest and most historic in North America, and any change in ownership will naturally prompt a review of the wider regional picture.
As a result, anything in the surrounding area that is geologically prospective, and that could potentially extend mine life or complement existing operations, would very likely be of interest to a new operator. FCM’s position so close to Hemlo puts us in a strong place to benefit from that renewed regional focus"
And on what they expect to gain from this immenant drilling programme .....
"The simple answer is that we are looking for encouragement to drill more. The upcoming program is designed to confirm that the gold we have identified at surface continues at depth and along strike. If we see continuity and meaningful grades, it will justify an expanded follow-up program to test the structure further and start building a clearer picture of the system.
Whether the results show a continuation of the known Hemlo trend or reveal a completely new structure, either outcome would be highly positive. The Hemlo area is world-renowned, with over 23 million ounces produced, and we are only 20 km away from the main mine previously operated by Barrick. Any indication that our mineralisation links into a new discovery in the same district, would naturally attract attention from major players active in the region"
And the reason for using a cln now......
"The North Shore of Lake Superior benefits from a distinct microclimate, it is not immune to the Canadian winter, but conditions there currently allow for site access, and our team has been on the ground this week with preparations well underway. The rig being considered is track mounted and more than capable of handling current conditions, and with access routes constructed and improved during previous field seasons, we are confident mobilisation can proceed without issue. This is precisely why we are acting now, as
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