Northwire Canada EditionSaturday, August 22, 2026
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RCK 0.720 +2.9% SGML 16.03 +8.1% BKM 2.80 +0.0% CGNT 1.25 +2.5% TTS 2.10 −17.6% SVRS 0.500 +0.0% FMM 0.050 +0.0% GSPR 0.105 −4.5% MKO 14.50 +0.2% EVER 0.510 −1.9% HSTR 2.32 +0.0% MERG 0.880 +4.8% THM 1.20 −0.8% MON 0.660 +3.1% ELEF 0.145 +7.4% FAIR 0.065 +8.3% RCK 0.720 +2.9% SGML 16.03 +8.1% BKM 2.80 +0.0% CGNT 1.25 +2.5% TTS 2.10 −17.6% SVRS 0.500 +0.0% FMM 0.050 +0.0% GSPR 0.105 −4.5% MKO 14.50 +0.2% EVER 0.510 −1.9% HSTR 2.32 +0.0% MERG 0.880 +4.8% THM 1.20 −0.8% MON 0.660 +3.1% ELEF 0.145 +7.4% FAIR 0.065 +8.3%
M&A / Property Routine +

GSP Resource's Olivine optionee Full Metal drops option

Full Metal clears option encumbrance on the Olivine Mountain project despite critically constrained liquidity.

By The Northwire Desk — AI Analysis Aug 21, 2026 · 16:56 FMM · 0.05 Full Metal Minerals Ltd.
Executive Summary

GSP Resource Corp. has regained 100% ownership of the Olivine Mountain Copper-Gold-PGE Project in British Columbia after Full Metal Minerals Ltd. failed to meet cash, share, and exploration expenditure deadlines to earn a 60% interest. The option termination is unconditional, leaving GSP with a clean title to the ~3,022-hectare property.

The release highlights a 2020 NI 43-101 technical report recommending a two-phase follow-up exploration program, citing prior surface sampling, geophysics, and maiden drilling. GSP has engaged Hillside Consulting for $50,000 CAD for investor relations and marketing services.

Material Impact

The termination of the agreement removes a major encumbrance, allowing GSP to unilaterally advance its recommended exploration program. However, the asset remains in the pre-resource stage with no defined reserves or resources.

The benefit of regaining full control is heavily offset by the company's dire financial position. Full Metal Minerals Ltd. holds only $2,665 in cash, carries a negative equity of -$760,504, and faces a working capital deficiency of $761,792. The engagement of an investor relations firm for $50,000 represents a significant expense relative to the company's cash position, raising immediate questions about funding. The news serves as a procedural cleanup that enables future exploration but does not resolve the underlying liquidity crisis.

FMM · Price
Company Overview

GSP Resource Corp. is a pre-revenue junior exploration company focused on the Olivine Mountain property in the Similkameen mining division of British Columbia. The property covers approximately 3,022 hectares and sits within the Tulameen ultramafic-mafic complex, known for hosting copper, gold, and PGE deposits.

Historical exploration includes surface sampling showing high-grade copper and precious metals, a 2018 airborne geophysical survey outlining a magnetic and conductive anomaly, and a 2019 maiden drill program totaling 1,200m. Key drill intersections include:

  • 7.8m at 0.27% Cu, 1.12 g/t Ag, 0.17 g/t Au
  • 10.1m at 0.12% Cu

The asset is considered "drill-ready" pending capital for the recommended follow-up program.

Read the original news release →