Oct 6, 2026 · 22 min
Fulcrum bets tailings recovery on a Mississauga pilot
S12 Ep7: Midweek Takeaway featuring Ryan Mee, CEO of Fulcrum Metals #FMET
Fulcrum’s plan hinges on proving that a cyanide-free process can turn historic mine waste into a scalable, permitted source of gold and other metals.
- 1Fulcrum’s Mississauga pilot is designed to move tailings recovery from laboratory results toward commercial-scale engineering and permitting.
- 2The company links Teck-Hughes and Kirkland Lake ambitions to recovering gold alongside silver, copper, tellurium, cobalt, and other metals.
- 3A proposed US$20 million royalty facility depends on commissioning the plant and reproducing pilot results from Teck-Hughes.
Don't miss
Ryan Mee explains why the proposed US$20 million royalty financing depends on successful pilot milestones rather than equity issuance.
The brief
Fulcrum Metals CEO Ryan Mee presents a Mississauga pilot facility as the bridge between laboratory testing and commercial development of historic mine-tailings projects.
The proposed process targets gold and other metals while addressing legacy risks, with cyanide-free treatment, water and reagent recovery, and residue assessment central to the case.
The pilot is meant to establish recoveries, engineering data, permitting requirements, and project economics before Fulcrum commits to a broader commercial model with tailings owners.
Mee’s Kirkland Lake vision combines Teck-Hughes and Silver Knight ambitions, with potential production of roughly 30,000 to 58,000 ounces of gold annually.
The proposed US$20 million non-equity gold royalty financing is conditional on commissioning the facility, completing Teck-Hughes piloting, and reproducing laboratory results.
What was said on this episode
9 statements · 8 positive · 1 neutral
Fulcrum is developing a recovery and remediation platform for two Kirkland Lake projects containing estimated gold resources.
“this is a recovery and remediation project, and we're building the platform around that to firstly to commercialize the 2 projects we've got in Kirkland Lake at the moment, which is Techuse and Silver Knights, with an estimated 200,000 ounces of gold.”
Listen at 1:56
The pilot has demonstrated high recovery rates across multiple metals.
“this pilot has already proven to have really high recoveries, multiple metals, gold, silver, and things like tellurium, copper, cobalt.”
Listen at 2:15
The tailings-reprocessing technology is faster than competing technologies and scalable.
“it's much faster than other technologies out there, so it's very scalable”
Listen at 2:34
Fulcrum has exclusive rights with Xtract covering over 70 documented legacy sites.
“Fulcrum have an exclusivity with Xtract for the whole of Timmins and Kirkland Lake that contains documented over 70 legacy sites.”
Listen at 2:45
The two demonstration projects contain more than one billion US dollars of gold at current prices.
“it's over a billion dollars US in the ground.”
Listen at 3:14
Xtract’s tailings-reprocessing process does not use cyanide.
“the process that we use with Xtract is cyanide-free.”
Listen at 3:35
The process can recover 80% of the water and reagents in laboratory testing.
“we've also shown that we can recover you know, 80% of the water than the reagents.”
Listen at 4:01
Legacy tailings remediation requires removing sulfide-bearing metals and addressing contaminants.
“we need to take out those sulfide-bearing metals, and any contaminants need to be dealt with as well.”
Listen at 4:39
Remediating old tailings sites can return the land to social use.
“we can bring these lands back into social use”
Listen at 5:40
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.