First Mining Gold Corp (FF) Quote

What we're talking about is ALL speculation at this point. I wouldn't disagree with You that this story can have different outcomes, and we know that any potential partner for FMG will be attempting to maximize their position with the assets we own. I don't see Keith as taking any plug nickels here.

Yes, that can mean negotiating for parts of both Springpole and Duparquet. Hell, I don't know if that might be what our Management wants to happen. There are a lot of different outcomes that could take place with some sort of deal getting done, but we know Keith has been down this road before, so I would expect him to get the best deal for all FMG shareholders.

My personal wish would be for us to retain Duparquet for ourselves and to partner with someone on Springpole. Will that happen? I don't know. A lot of different ways this could unfold.

Just looking at the Osisko presentation and the First Mining presentation. 

The Goldfields Osisko Windfall project and First Mining Springpole project seem to have a similar Measured and Indicated M&I amount of gold but Windfall has a much better grade and much better future inferred opportunity. 

It seems difficult to compare Apples to Apples. 

Duparquet appears to have a better future inferred value than Springpole.  Is Keith Neumeyer a good enough negotiator to sell 50% of  Springpole and keep Duparquet in the piggy bank?  A major gold company might want to protect their shareholders with a 2 for 1 strategy by buying parts of both Springpole and Duparquet.  

I think the big money will demand a combination of what Duparquet and Springpole both have to offer.  Short-term and long-term. 

Submission of the Springpole environmental permit is obviously the talking point right now and puts First Mining on the map of acquisition targets.  However the value proposition appears to be a much better selling point when  Duparquet is sitting there with better grades and better potential.  

I still think the recent addition of all the new shares was an attempt to protect against a hostile takeover - in addition to funding the business until a big deal gets done.  It seems  Management bought only a small percentage of the private placement shares.  

First Mining seems like a good gamble right now.  The company sold a lot of shares without much effort.  Maybe a big deal gets done sooner than later.

Without knowing at all what Keith has up his sleeve concerning the disposition of Duparquet and Springpole my guess is that a JV deal might be made at Springpole and Duparquet would remain for FMG to develop themselves or maybe something joint with FM. Whoever they're talking to may want to get greedy and try to get some of Duparquet too. My hope is that doesn't happen and Keith keeps those properties separated.

If we struck a JV deal, I suspect it would be structured in a fashion near to what we saw with the Goldfields/Osisko deal That would be them buying into the project (for whatever money is agreed to) and most likely the partner having the option to buy out the rest of it later on. Where that type of deal goes money-wise is just a guess, but more importantly it gives FMG some real credibility going forward. It tells the naysayers that Springpole will get built and the big money is behind it getting done.

Where does that take our share price? In the current very poor mining environment, maybe not as far as we want, but IMO later on with a much higher gold price and the investment community FINALLY starting to realize the potential we have here, we'll see that $1.50 - $2 share price. Also, at such time that a mania in these mining stocks come, no telling how high we could go. IMO that's when the REAL money will be made and that hasn't even come on the horizon yet. I believe it will come.

Question to anyone who wants to answer.

Suppose Big Gold has $1 Billion and wants a piece of Springpole.  What does $1 Billion buy?


Question 2.  What does $1 Billion do to the share price?  Big news attracts a lot of attention.  If we potentially have 1.4 to 1.5 Billion shares, could $1 Billion attract enough attention to get First Mining shares above $1?   $1 Billion tells potential investors that the gold in the ground has a big chance of pouring into bars.  Does $1 Billion take the share price to $1.50 or $2 or more?


Asking for a friend.

Quick summary.  
$15.4 Million raised.
Potentially  243,742,612 shares added.  
Hopefully the last one before a major buys into the gold potential here.


First Mining Closes Upsized $7.4 Million Equity Financing. VANCOUVER, BC, Oct. 10, 2024

54,463,706 × 2 = 108,927,412


https://m.insidertracking.com/first-mining-closes-upsized-7-4-million-equity-financing


First Mining Announces Closing of C$8 Million Bought Deal Financing Including the Full Exercise of Over-Allotment Option
Canada NewsWire

(59,629,800 + 7,777,800) × 2 = 134,815,200

VANCOUVER, BC, Sept. 26, 2024

https://m.insidertracking.com/first-mining-announces-closing-of-c-8-million-bought-deal-financing-including-the-full-exercise-of-over-allotment-option

Here's the updated list of FMG insiders that acquired shares through the PP. That includes Dan and several others.
Certainly, nice to see. Now when is the good news coming? I hope shortly after the EA gets submitted.

https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold

Here's the latest interview from our Company Shill and the Gang. This is sort of a rehash of the webinar from a couple months ago with these two people. I hope James Maxwell is as good a geologist as he is a bullshitter.

Dan mentions that this is "exciting" times for the Company, I just wish our share price was as excited as he always claims to be. LOL

Nice! I was sort of expecting him to make a bigger purchase since there were so many months of no buying.

It would appear that Keith added 3.75 million more shares to his holdings yesterday. The filing says acquistion under a prospectus exemption. I guess that means he bought through this latest PP.

https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold

I think acquiring some of the smaller mines around Goliath is what Lexstrom said they were looking to do in this last interview I posted with him.

There are several other mining companies around Goliath that would seem ripe as takeover targets and he named several in the interview. IMO at some point in the near future we may hear more of those coming onboard with them. That sort of consolidation makes a lot of sense when the Goliath mill is finally up and running and as You say THEY may be a takeover candidate down the road.

There could be a lot of reasons, but I think NexGold just seemed to want to focus on getting near term production assets up and going. Nothing wrong with that either. I think they could have gotten a good deal done with FFMG because the cash flow from Goliath could have been used to finance Springpole and get that smaller operation going at Duparquet. Over a couple of years, I think this combined company could have been on a good path to become a 500k+ oz. producer which would then most likely have been acquired by a major. Maybe they were in talks but could not come to an agreement. Anyways, no need to speculate about that any longer since it did not happen. We should look forward.

What I think is most likely the path forward right now is to find a mid/large-tier producer to form a JV on Springpole. The bigger company should basically buy a 40-50% stake and then take on all the financing and construction risk with the option to purchase the entire project at a later date when certain milestones have been achieved. Duparquet should be kept "in house" as long as possible unless we could team up with another company to start smaller, also a JV here could make sense.

Anyways, we know Keith definitely is thinking big here and long term so whenever they do decide to pull the trigger on a deal we should be confident it is the best deal we can get. I am quite certain that without Keith in the background, FFMG would have most likely ended up in a lackluster deal. I think Keith is being very greedy with these assets (as he should) so most likely he has been saying "No" to a lot of offers they have received. It might be tricky for Dan to be CEO since I think he has to sort of "get permission" from Keith whenever a reasonable deal gets presented. There might have been situations where Dan would have been ready to sign a deal but maybe Keith said no in the end.

There have been two recent interviews with Dan and we still seem to be on track to submit the Final EA this month. Getting closer and closer now guys, so after we get that submitted we are finally entering this "deal making phase" for real. Sure, there is still a lot of work going back and forth with the EA and checking all the boxes but this is a very formal process. Hang in there guys!

Is it just me or does NexGold seem to be  focused on acquiring cheap assets smaller than Springpole that are already on the path to getting permitted?  Even though they say they want to be the next mid-tier gold producer, my gut reaction is that NexGold might be building up just to sell out to a major in a year or two.  It takes a lot of work to turn tons of rock and dirt into little bars of gold.  Or maybe I'm wrong.  NexGold has some big money investors. 


Which is it?  


Maybe NexGold wants to be like First Mining with multiple assets to compete for a big payday that might be coming sooner than later.  


Or maybe they want to roll up their sleeves and stay awhile?  I don't know. 

Even though a Nexgold - FMG deal makes some sense, I never could come up with a scenario that worked smoothly for both parties. Maybe they couldn't either.

FMG has the assets in the ground and Nexgold would have the mill in time, so what's that worth to them? Maybe they couldn't come to terms on a deal getting done. I just never saw FMG and Nexgold as equals in some sort of merger and how would FMG ever buy-out Nexgold? They couldn't.

I wish we knew what was going on behind the scenes. It's hard to imagine that we didn't have some form of merger conversation with NexGold. I just wonder who said "nahhh" and why. If we sent them on their way b/c the terms were not highly favorable to FF shareholders, I'm all for it.

Agree with the all cash deal scenario being worst-case. It's hard to imagine a $400-500M offer being turned down when you have almost a billion shares outstanding. That would suck and it's something I've been thinking about for a while. It's dangerous down here at sub $100M valuation.

Yes, I think a JV deal is now more or less guaranteed at least with Springpole. Sure there could still be other candidates out there that might do a share merger, but more likely than not we will see a JV deal similar to what Osisko had. Could still turn out great with a JV deal no doubt. I still think the worst possible outcome for us would be for the company to be bought out for 500m or so in an all cash deal.

My guess is it probably makes more sense for Keith to keep our properties in the family so to speak or do a deal with a bigger fish with very deep pockets into the picture for a JV deal.

I want to see a higher FMG share price in the short term and some sort of agreement made that will ensure shareholders here a good return going forward. God knows we've waited long enough for it.

Well I guess we can forget about the NexGold merger. They just announced they will combine with Signal Gold.

https://nexgold.com/nexgold-and-signal-gold-announce-merger-to-create-one-of-canadas-most-advanced-near-term-gold-developers-with-a-combined-4-7-million-gold-ounces-of-measured-and-indicated-resources-and-a/

Interesting interview with David Erfle talking about silver miners in Mexico and the new El Presidente down there. The miners in Mexico are consolidating because she's seen as good for the mining sector. He talks about FM buying Gatos and the recent buy-out offer for Silvercrest. He gives some insightful information on what' going on there now. This is a good thing for FM.

Recent Dan interview on Kitco. He keeps harping on the NPV of our properties increasing by $250M with every $100 rise in the gold price. O.K., we hear you Dan, but please explain WHY our share price is at .13 Canadian? He even says it himself in the interview the gold price has gone up $1000 since the PEA was done for Springpole valuing the cost of gold at $1600 when it was done.

The Street is obviously not buying what he's selling currently. Hopefully that changes sooner than later.

Very sobering video from Mike Maloney. He sounds a lot like Chris Vermuelen to me in this one. The charts he shows are alarming.

https://goldsilver.com/blog/its-soon-time-to-get-prepared-for-something-huge-mike-maloney-30-seconds-to-midnight/

This may be part of the reason for the big drops in gold, silver, and oil today.

https://www.zerohedge.com/commodities/goldman-nails-fade-iron-ore-rallies-call-chinas-failure-deliver-additional-stimuli

IMO what Mark Moss is talking to in this video is not too far-fetched to happen. That would be for the U.S. to reprice the gold they hold at higher valuations. They currently account for gold to be priced only at $42/oz., which is grossly undervalued.

Moss gives some reasons why it can happen and that IT'S ALREADY HAPPENED BEFORE. He makes the very important point that the U.S. has to be preemptive in moving to revalue gold higher before China and the BRICS countries do it. He explains that in the video. The problem I have are the
people pulling the strings smart enough see where this is going? They have to see the fiat dollar is heading down the drain.

The big question to be answered is how much gold does the U.S. really have now and the same for China. We know getting accurate real inventories of gold held by these liars would be next to impossible to get, but what revaluing gold higher would do in the bigger picture would be an admission of gold being real money again.

Here's a very good conversation with a fellow that gives a long-term view on where he sees gold going. What I like is that he compares PAST cycle prices to where the current price should go. He also speaks to silver and the miners. The interview is kind of long, but full of good information.

Exactly right, nothing I see is dropping for most prices. I shop for myself every week and groceries haven't gotten cheaper. IMO we are seeing some demand destruction coming into the picture for bigger items (like cars) and discretionary things that people don't have to have, but people are also levered-up and in debt just to make ends meet. That can't go on forever.

Look at the crap going on with these labor strikes now. They're threatening to hold the economy hostage unless they get these big pay raises. That's all uber inflationary too. This is coming to a head down the road and the Powers That Be know it's coming, but all they can do is keep the pump and dump cycles going until it's past fixing. We're in a sad state of affairs.

Great video with MIddelkoop. Thanks for posting it. Nothing I can see has really dropped in price, so from a layman's perspective we have inflation right now. Demand destruction could drive deflation, but the response of printing and/or war will bring inflation back in short order.

You're making a very valid point. I agree with you on some PAY ME NOW money too. It would be nice to have an immediate pop in our share price with a scenario playing out as you say. A joint venture with a deep money pockets partner with the option of more good gains down the road. That may be more preferrable for many of the long-suffering holders here.

The Nexgold deal is more long term based and as You say would just add more dilution and years to the story here. I've had enough of that already. I may not be around in 5-10 more years. LOL

I think they could raise the money themselves through a syndicate of banks just loaning the money needed. If you look at the Goliath upfront capital costs it was estimated at only $335m. That really is nothing when you get three banks each loaning a 100m or so. Keith / Frank / Giustra would provide massive credibility for the financing along with the current NexGold management which would take over the mine building operations. I think they could just ask for the money from the banks and they would get it no problem. That is why I am so excited about this because there really is a very clear path forward after they get Goliath up and running. The cash flows from Goliath could then be directed towards financing Springpoles construction along with Duparquet. Sure, they might have to issue some shares at this point but I don't think it would be that significant given the rich cash flow profile of Goliath.

They are projecting annual free cash flow of 100m or so from Goliath so you can see they would not need that many years to pool up a significant amount of cash that could be used towards Springpole. If the gold price keeps rising, the free cash flow could even be closer to 150-200m annually. This could get really big quite fast. Duparquet could also get up and running with a smaller operation which could then also be used to get even more cash flow towards Springpole.

The more you think about this potential merger the more it makes sense. If we really want to score a potential 20 bagger long term then this is how I would do it because this would be the fastest way by far to transform us into an actual miner. Sure, it is still also possible we could choose to do a JV 50/50 with a major for Springpole. The impact of this would probably be quicker on the share price BUT I think the long term gains would not be as significant.

A JV deal I think would net us 5-10x long term while the NexGold merger would probably result in a 10-20 bagger long term.

I'm not an expert.  

However in my opinion one possible negative to a NexGold and First Mining merger is that it pushes the payday for shareholders out a few more years, until gold is actually pouring.  This would be a "pay me later" strategy.

A second negative I see about a NexGold and First Mining merger is that a lot more money has to be raised to build out the infrastructure for Goliath to get started.  Money raised equals more dilution.

Obviously a huge payday in 4 or 5 years is awesome but I really want some benefits up front.  Let a BIG GOLD company come in a drop $1 to $1.5 to $2 billion for a 50% share of production.   That helps current shareholders now and later.  This is a "pay me now AND pay me later" strategy.   

If I only had 2 choices I would choose the  "pay me now AND pay me later" strategy.   

I just watched this video with Williem Middelkoop talking to David Lin about what he sees coming with inflation, deflation, etc.

Middelkoop is pretty much saying what I think is coming. Go to about 12:25 in the interview and listen what he tells David IF a recession is coming.

In a recessionary environment demand falls and to some degree so will prices. Disinflation or outright deflation will be temporary because the Banksters will pump QE back into system to prevent a deflationary collapse, just like China has recently done. That will bring inflation back in spades.

War is very inflationary too, so throw that into the mix and the coming inflation is going to be very bad IMO. We may still be a few years away from it being here as Middelkoop noted. PM's will of course rise in this environment.

The more you all talk about it the more it seems like a great idea. The Goliath mine production could finance the drilling and development of all the other properties. Wyeth could build all the mills. The FF crew already possess detailed knowledge of NexGold's Goldlund and Miller deposits since FF initially owned and drilled them.

I will try and catch up with the videos you all have posted.

We're still in the speculation phase here on a Nexgold/FMG deal getting done, but it does make a lot of sense to happen. As far as I know FMG is still the largest shareholder of Treasury/Nexgold. They were at one time and unless that's changed, we still are. I don't remember anything about selling any of those shares.

Another big plus that Lexstrom noted in the interview I posted yesterday, concerns the other smaller mines closer to Goliath that would at some point certainly be attractive takeout targets for them. He rattled off 3 or 4 names in the interview, a couple I've even heard of. These are companies with defined resources. All they need is a mill and that's coming. Lexstrom said in the interview there should be shovels in the ground building the Goliath mill in the next 16 months. I think Lexstrom said they would be the only mill in a 250 mile radius, so that's big.

From what I recall about Keith speaking on the now "privatized" video, he mentioned only that Dan was talking to people. He obviously couldn't talk about any specifics and made mention of that.

Dan has exercised 754 168 rights resulting in the same amount of common shares as of October 3rd. No mention of price. Always nice to see him increase his position.

This is what I have been thinking is very likely to happen. I would definitely not be surprised by a NexGold / FFMG merger. The reason Lekstrom probably does not mention FFMG in any interview is exactly because he does not want to get into trouble for speaking about it if a deal would be announced. If he actually mentioned FFMG then I think that could be a redflag we are not in talks. This could also indeed be the reason they took away that interview with Keith and Paul because they don't want to make it look like Keith revealed too much, although I don't think he said anything that specific. If they indeed are in talks with NexGold then I could not be more happy about it.

Like I said earlier, we would receive the Goliath project which is close to starting operations in a year or two which would then bring in significant cash flows for the combined company. NexGold shareholders in turn would receive two new fantastic tier 1 assets in similar regions to Goliath. Both Springpole and Duparquet could then be developed with cash flows from Goliath. The NexGold mine building team would be absolutely perfect going forward, with Keith / Frank / Sprott in the background as financiers and advisors. I'm telling you guys this merger, if done, would be a total game changer and would potentially turn us very quickly into an actual miner with very significant assets in the portfolio.

What I like most is that this combined company would then most certainly be a very hot target for the bigger gold companies to acquire seeing as the portfolio would include three massive operations and produce north of 500k ounces per year. This could all happen by 2030 mind you, seeing as Springpole would get permits in a year or so and put into production a few years after that and Duparquet could start out smaller and expand from there. Goliath should be in production by 2026-27. The synergies here with the management and combined assets is so obvious I would be shocked if they at least had not tried to merge the two companies. The share price in both companies is also very depressed so it's not like either one would lose out in any major way. It's really a win / win here.

I had previously shared a link via text of the Ron's basement interview of Keith Neumeyer with a friend.

When I click the link now the message says 

 "This Video is Private"

I watched a Red Cloud Webinar interview with Morgan Lekstrom from a couple weeks ago obviously about the Goliath project, but it was very impressive how aggressive he and NexGold management are on expanding the business by acquiring projects at less than $400 million market cap that are permitted and ready to build.  Lekstrom seems extremely confident they will expand the company very quickly.

After watching this video I do agree that First Mining and NexGold might be ripe for a merger in the near future.  

Lekstrom seems to be talking to a lot of people right now.

O.K., I just listened to Lexstrom's interview and AGAIN the big thing I like about what he's been talking about is the MINE BUILDING TEAM they have. This may be why we could do some kind of merger with them. They have a very good team already in place to build mines. FMG is going to be building
mines in the not-too-distant future. IMO that could be the biggest synergy we have going with them. He mentions several other gold miners around Goliath, but never talks about FMG.

Lexstrom may be Dan's replacement down the road. We'll see.

IMO if our plans were to merge with Nexgold, then the Man buying with both hands into this private placement would be Frank Giustra.
Would that be revealed BEFORE some sort of announcement? I don't know.

Hey look who just got interviewed by Dan Lin. Our buddy, MORGAN LEXSTROM, at Nexgold. I'll comment after I listen to his talk.

Just listened to this interview with the CEO of West Red Lake Gold. These Guys are going into production next year he says. The share price is still only trading at about .58 U.S. right now, so that tells me how depressed the miners still are, especially with the gold price where it is now.

He makes some very good points, many of which we've talked about here.

https://seekingalpha.com/symbol/WRLGF

Would Keith be able to buy more shares from the private placement if he's an insider pending some sort of announcement of a deal? I'm not sure exactly how that would work, but I thought if any company insiders involved in a pending announcement couldn't be buying shares.

Here's the insider activity on FF since this morning. It's the same old story, no activity from Keith since May 6th. That's a couple days away from six months now. IMO we've probably been in discussions with interested parties and the insiders buying had to stop. Why else would Keith have ceased buying shares? That's the only reason I can come up with.

https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold

I would agree with You. It was removed for a reason. That video was even on the Company website under the MEDIA heading where they put the video interviews. It's not there anymore either.

My guess is that Keith made mention that Dan was "TALKING" to people about the company and that may have been a no-no. Just my guess.

I noticed the same. Might indicate we are very close to a deal announcement. We still have not seen any insider buys or sells for months which tells me something is up. Especially when you consider the recent successful financing round where the underwriting banks all immediately exercised their option for additional units. They would not do this unless they knew there would be demand for the shares. The private placement should follow soon which we all know is more or less certain Keith is participating in. I think he once again bought 10m shares or something like this.

My guess is this was the last financing round we did and now we are finalizing the announcement of a deal and the final EA submission. Both should be huge potential triggers for the share price. My hope is still that they would announce a merger with NexGold. That would be a total game changer imo and would turn us into a potentially massive gold miner in the future.

Keith, Paul, RonBasement interview has been wiped off the face of the internet or made private for viewing.

I never watched / attended that webinar so I tried clicking the “in case you missed it” link from first mining, it’s gone. Tried YouTubing, couldn’t find it. Something tells me its removal is for a reason.

If you haven't watched this David Lin interview, I would urge you to watch it. The Fellow being interviewed gives a LOT of historical contexts on why gold is coming back into the picture, and he never mentions gold in the interview.

We've talked here about what's going on historically now before and Mr. Wolff goes into some detail about the end of empires and changing of the guard as world powers go. He gives some really good though-provoking examples of why we're seeing what's happened over the years and more importantly why the game is rapidly approaching for the American empire and unfortunately for the dollar. He never mentions that either.

I think the full 8m they raised included the 15% option exercised by the underwrites. In other words, there was good demand for the offering because the underwriters exercised the option right away. This is a good sign for us. The private placement should bring in another 5m or so.

So, they sold more shares in this latest offering that closed on Thursday. The PR says they sold almost 60 million shares when originally, they said almost 52 million would be sold. They raised $8M from the offering. It also notes that the Underwriters can buy up to 15% of the number of units issuable under the Bought Deal Offering up to 30 days following the closing. We still have the private placement to go through that closes on Oct.10.

I expected our share price to fluctuate more this week than it did. It didn't really move a lot either way.

https://firstmininggold.com/news/first-mining-announces-closing-of-c8-million-bought-deal-financing-including-the-full-exercise-of-over-allotment-option

What could push the economy into a recession? How about this port strike. That would also give the Banksters some cover to crank up QE again.

https://www.marketwatch.com/story/a-port-strike-could-be-an-economic-tsunami-affecting-these-sectors-ac87f4d9?&mod=home-page

I agree that the open border situation and the uncontrolled spending is definitely unsustainable. That will be a big problem for the dollar at some point in the future.

It doesn't help matters when Trump talks about slapping tariffs and sanctions on anyone that doesn't want to trade in dollars. I just heard him say that on the news this morning. IMO that type of rhetoric is exactly why the BRICS countries are banding together and why the dollar is on its way out.

What will be very interesting to see in this next downturn/recession/crisis will be IF the dollar is seen as the safe-haven it has been for many years. That trend could be coming to an end.

That should also be a major catalyst for much higher PM prices.

I only mention stagflation because I don't see costs on average decreasing to produce the goods and services. Of course it doesn't help to be importing artificial demand with open borders. It helps improve our GDP but it is money spent by governments which is borrowed.

Pullbacks and corrections are to be expected in hard assets but I don't see the environment where Gold goes up 30% this year and over next 12mo. falls 30 to 35%+. The U.S. govt is trapped in a debt spiral and no matter what they do - it is game over in my opinion. The real demand destruction I firmly believe will be that of the U.S. dollar - and good riddance.

I'm thinking we have a crash caused by one of a couple issues - take your pick. Following the crash, demand will crater and thus we'll have deflation for a bit. Predictably the Banksters and politicians will then go even wilder with QE and cause the stagflation you are looking for. We'll see. Always interesting to read everyone's take on it.

The effects of debt and the interest on it will only result in amplification of the QE.