In this new GOLDINVEST interview, CEO Deepak Varshney talks about the next steps for Formation Metals (CSE: FOMO / WKN: A3D492) and the ongoing drilling program at the N2 gold project in Quebec.
Following the recent $9 million financing, Formation Metals is now fully funded for an extensive 20,000-meter drilling program – and that through the end of 2026. The goal is to significantly expand the existing historical resource of approximately 900,000 ounces of gold and increase it to 3 to 5 million ounces in the medium term.
Varshney explains why Formation Metals is currently one of the best-capitalized explorers in Quebec, which zones (A-Zone & RJ-Zone) are currently in focus, and why the company is even considering future acquisitions of neighboring projects.
Also, learn what role the high gold price of over USD 4,000 plays in the strategic development and when the first drilling results are expected.
👉 Learn more at GOLDINVEST.de: https://goldinvest.de
👉 Official website of Formation Metals: https://formationmetalsinc.com
Chapter markers:
00:00 Introduction & welcome
00:40 Start of the drilling program on the N2 project
01:20 $9 million financing completed – 20,000 meters financed until 2026
02:00 Focus on A-Zone (bulk tonnage) and RJ-Zone (high grade)
03:00 Goal: Expansion of the resource to 3–5 million ounces of gold
04:00 Timeline for first drilling results (December 2025)
05:00 Strong investor demand & oversubscribed financing
06:00 Plans for acquisitions of neighboring projects
07:00 Assessment of the gold price & market environment
08:00 Formation Metals as a “Big Kid on the Block” in Quebec
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In accordance with §34b WpHG and §48f para. 5 BörseG (Austria), we point out that GOLDINVEST Consulting GmbH, as well as its partners, clients, or employees, hold shares in the aforementioned companies. Furthermore, there is a consulting or other service agreement between these companies and GOLDINVEST Consulting GmbH, and it is possible that GOLDINVEST Consulting GmbH may buy or sell shares of these companies at any time. These circumstances can lead to conflicts of interest, as the aforementioned companies compensate GOLDINVEST Consulting GmbH for reporting.
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I. Information Function and Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies, and companies the opportunity to publish comments, analyses, and news on www.goldinvest.de. The content serves exclusively for general information and does not replace individual, professional investment advice. It does not constitute financial analyses or sales offers, nor is it a solicitation to buy or sell securities. Decisions made based on the published information are entirely at your own risk. No contractual relationship arises between GOLDINVEST Consulting GmbH and the readers or users, as our information relates exclusively to the company and not to personal investment decisions.
II. Risk Disclosure: The acquisition of securities involves high risks, which can lead to the total loss of the capital invested. Despite careful research, GOLDINVEST Consulting GmbH and its authors assume no liability for financial losses or for the content’s guarantee regarding timeliness, accuracy, appropriateness, and completeness of the published information. Please also note our further terms of use.
III. Conflicts of Interest: In accordance with §34b WpHG and §48f para. 5 BörseG (Austria), we point out that GOLDINVEST Consulting GmbH, as well as its partners, clients, or employees, hold shares in the aforementioned companies. Furthermore, a consulting or other service agreement exists between these companies and GOLDINVEST Consulting GmbH, and it is possible that GOLDINVEST Consulting GmbH may buy or sell shares of these companies at any time. These circumstances can lead to conflicts of interest, as the aforementioned companies compensate GOLDINVEST Consulting GmbH for its reporting.
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