Freeman Gold Corp (FMAN) Financings
TSXV: FMAN · Gold · Development stage
- Market cap$90.4M
- Share price$0.290
- 52-week range$0.160 – $0.460
- Shares outstanding311,676,484
- ExchangeTSXV
- Websitewww.freemangoldcorp.com
Freeman Gold Corp. (TSXV: FMAN, OTCQB: FMANF, FSE: 3WU) is a Canadian-listed gold development company focused on advancing the 100%-owned Lemhi Gold Project in Lemhi County, Idaho, USA. The Company is led by an experienced management team and board with proven track records in mine development, project financing, and value creation in the mining sector. Freeman has recently commenced advance permitting and baseline characterization for the Lemhi Gold Deposit, representing a key step in the Company's strategy to move the Lemhi Project assertively toward future development and production. Freeman's 100%-owned Lemhi Gold Project is supported by a 2026 Feasibility Study confirming a Proven and Probable Mineral Reserve of approximately 1 million ounces of gold and a 15.2-year mine life. At a base-case gold price of US$3,650 per ounce, the Project demonstrates a post-tax NPV(5%) of US$696 million, a 34.4% IRR and a 2.5-year payback period. The Project is designed as a conventional open-pit, carbon-in-leach operation with an average life-of-mine recovery of 94.8% and significant exploration upside beyond the current reserve. Located in Idaho, a well-established U.S. mining jurisdiction, Lemhi is advancing through permitting, engineering, financing and development activities. The Project comprises 30 square kilometres of highly prospective land, hosting a near-surface oxide gold resource. The pit-constrained mineral resource estimate at a 0.2 g/t Au cutoff comprises 8.356 million tonnes at 0.92 g/t Au for 247,000 ounces (oz) of gold, an Indicated Mineral Resource of 39.954 million tonnes at 0.76 g/t Au for 974,000 oz of gold, and an Inferred Mineral Resource of 10.683 million tonnes at 0.70 g/t Au for 240,000 oz of gold*. To date, 525 drill holes and 92,696 m of drilling have been completed (Murray K., Elfen S.C., Mehrfert P., Dufresne M., Brangers K., Schulte M., National Instrument 43-101 Technical Report and Feasibility Study, dated August 13, 2026; www.sedarplus.ca ). *Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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Freeman Gold Corp financial statements
Key figures read from 30 of 30 financial statement filings, Jul 29, 2019 to Jul 22, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$11,688,530 | C$4,411,187 | C$2,331,534 | C$5,311,644 | C$20,054,776 |
| Total current assets | C$12,000,220 | C$4,489,804 | C$2,454,028 | C$5,565,331 | C$20,163,733 |
| Total current liabilities | C$1,482,042 | C$477,948 | C$1,441,251 | C$1,816,278 | C$5,253,387 |
| Working capital | C$10,518,178 | C$4,011,856 | C$1,012,777 | C$3,749,053 | C$14,910,346 |
| Exploration and evaluation assets | C$22,099 | C$7,099 | C$2,099 | C$39,798 | C$77,005 |
| Property, plant and equipment | C$10,363 | C$17,277 | C$38,801 | C$191,125 | C$160,325 |
| Total assets | C$44,282,767 | C$30,919,714 | C$28,346,155 | C$29,974,784 | C$31,329,065 |
| Debt | C$3,666,352 | — | — | — | — |
| Total liabilities | C$5,148,394 | — | C$1,441,251 | C$1,849,923 | — |
| Shareholders' equity | C$39,134,373 | C$30,441,766 | C$26,904,904 | C$28,124,861 | C$26,075,678 |
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Nov 2025 | FY Nov 2024 | FY Nov 2023 | FY Nov 2022 | FY Nov 2021 | |
|---|---|---|---|---|---|
| General and administrative | C$1,853,687 | C$1,099,286 | C$1,114,686 | C$1,545,277 | C$1,023,425 |
| Share-based compensation | C$2,297,557 | C$0 | C$451,152 | C$1,150,159 | C$1,285,030 |
| Net income (loss) | (C$5,432,822) | (C$32,242) | (C$1,671,109) | C$726,439 | (C$87,351) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Nov 2025 | FY Nov 2024 | FY Nov 2023 | FY Nov 2022 | FY Nov 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$2,446,335) | (C$952,678) | (C$1,164,508) | (C$2,068,251) | (C$2,348,566) |
| Investing cash flow | (C$5,567,729) | (C$549,879) | (C$1,742,385) | (C$12,859,159) | (C$2,619,285) |
| Financing cash flow | C$15,291,407 | C$3,536,242 | (C$78,870) | (C$34,534) | C$19,857,273 |
| Exploration spending (capitalized) | (C$5,552,729) | (C$671,149) | (C$1,742,385) | (C$12,814,181) | (C$2,610,225) |
| Property, plant and equipment spending | C$0 | (C$55,744) | C$0 | (C$9,380) | (C$9,060) |
| Proceeds from share issues | C$5,453,877 | C$3,569,104 | C$0 | (C$12,102) | C$19,881,326 |
| Change in cash | C$7,277,343 | C$2,033,685 | (C$2,985,763) | (C$14,961,944) | C$14,889,422 |
| Cash at end of period | C$11,688,530 | C$4,411,187 | C$2,331,534 | C$5,311,644 | C$20,054,776 |
Freeman Gold Corp financings
4 financings announced or closed by Freeman Gold Corp, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2026-08-18 | Freeman Gold Corp (FMAN) | Convertible debenture | Announced | $1.2M | — | Freeman Gold Corp. Announces Settlement of Convertible Debenture Interest in Common Shares |
| 2026-01-06 | Freeman Gold Corp (FMAN) | Private placement, non-brokered | Announced | US$10.5M | — | FREEMAN GOLD CORP. DELIVERS MAJOR 2025 ACHIEVEMENTS $10.5 million financing in addition to warrant exercises of $4.8 million |
| 2025-07-17 | Freeman Gold Corp (FMAN) | Convertible debenture, non-brokered | Closed, 1 tranche | $10.5M | $0.100 | Freeman Announces Strategic Private Placement and Convertible Unsecured Debenture Offering for Gross Proceeds of $ 10.5 Million Securing Sufficient Funding to Construction Decision |
| 2024-10-02 | Freeman Gold Corp (FMAN) | Private placement, non-brokered | Closed, 1 tranche | $3.6M | $0.060 | Freeman Announces $3.6 Million Fully Subscribed Non-Brokered Private Placement and Change in Management |
Freeman Gold Corp debt and credit facilities
Convertible debentures and notes, loans, credit facilities, bonds, gold loans and prepayments Freeman Gold Corp has announced, read by Mining News Terminal. A debt reported in several releases is listed once, at its latest stage.
| Date | Debt | Lender | Amount | Terms |
|---|---|---|---|---|
| 2026-08-18 | Convertible debenture, drawdown | — | C$1.2M | 10%, matures 2030-08-18 |