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The fraudster’s pals at First Class Metals forced into a death spiral on steroids

Tom Winnifrith
Wednesday 12 November 2025
There are three reasons that First Class Metals (FCM) will struggle to do a conventional funding: piss poor early stage assets, a discredited management team and, above all, the massive overhand of shares eld by the administrators of the failed ponzi, the 79th Group. So today it has announced a vicious death spiral to keep the lights on and allow a token amount of drilling.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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