07:35 AM EDT, 04/30/2025 (MT Newswires) -- Foran Mining Corporation ( FMCXF ) , which lost more than 2% yesterday, on Wednesday provided a construction update on its 100% owned McIlvenna Bay project in Saskatchewan, Canada.

In a statement the company said as of the quarter ending March 31, 2025, the project "continues to advance steadily, with significant progress made across key areas of development."

Dan Myerson, Executive Chairman and CEO of Foran, said: "With one-third of the project now complete, Foran is focused on delivering Canada's next copper mine in a safe and stable jurisdiction, at a time when global demand for critical minerals is accelerating. Construction at McIlvenna Bay advanced steadily during the quarter, with meaningful activity across engineering, underground development, surface infrastructure, and workforce mobilization. Progress continued through the winter months, enabling the company to achieve several key construction milestones and maintain momentum across critical path areas. Foran is methodically advancing toward commercial production in the first half of 2026 and looks forward to providing regular updates as development progresses throughout the year."

FOM was down $0.08 or 2.2% to $3.45 on the TSX yesterday.