First Mining Gold Corporation (QX) (FFMGF) News

https://nexgold.com/nexgold-intersects-visible-gold-70-metres-below-a-previous-result-of-193-g-t-over-1-metre-showing-extension-to-the-c-zone-east-area-at-the-goliath-deposit/

Excellent discussion with Peter Grandich on the role of gold in the financial system. BRICS talk.

This video from Peter Schiff touches on why Harry Dent is clueless when it comes to where the price of gold is going.

Dent, like so many other pundits out there, have no idea what gold actually represents in the bigger picture. The world is entering a huge era of uncertainty when it comes to fiat and fiat debt creation. Everyone knows the unsustainability of this continuing, but NO ONE WANTS TO BELIEVE IT. Inflation will be coming back in spades, but most people don't have a clue as to why that's happening.

I've been following the gold price since about the turn of the century (2000) and at that time gold price was around $250 an ounce. Now we're over $2700/oz., and in the early stages of another big move higher in the gold price that many are predicting could be a double from where we are now. Peter talks about how he thinks we may be in the same place now that we were for a big move higher in the gold price, which will be parabolic in nature.

He touches on the BRICS summit some here too.

https://www.zerohedge.com/precious-metals/peter-schiff-gold-exposing-phony-economy

Hi Seablue, I was wondering where you were. Typing with one hand can be a problem for speed purposes for sure.

Gold for the year has done very well and IMO puts PM's solidly back in bull market status. Many are calling for $3K gold to come possibly before year's end. Eventually we'll see it correct, but that should be the last chance buying opp. before it really takes off higher. The mining stocks will follow after that move higher in gold.

This week may prove to be a milestone week for FMG, we'll see. Be well.

Good El-Erian video. I had forgotten gold is up 30% this year. Where are you Harry Dent? Lol Have been watching videos you all have posted and liked all of them as well as the discussion in all the posts. Can't type much right now because I had work done on a few fingers a few weeks ago and will be unable to effectively type for a few more weeks - typing with one hand too slow.

Yeah, we should get an announcement next week on the final EA submission for Springpole. It should be interesting to see what all else that announcement MAY bring?

Some sort of JV deal getting done. More progress with FN in moving the project forward from that side of the story. There may be certain milestones met with the Canadian government that just submitting the EA move Springpole closer to becoming reality. I'm hopeful for some positive fireworks to ensue.

We'll have to see what happens.

OCTOBER:



October is almost over.

I don't recall ever seeing Mohammed El-Erian talk about gold, this is a MSM fellow that always talks everything but gold and sound money. Here's a recent video of him making a good case to own gold and why the big rise in gold is happening.

He actually does a fair job in explaining it. Note how he side-steps the final question from the interviewer at the end.

Words of wisdom from MR.ROGERS and he looks like him in this picture. LOL

He says we're overdue for a bad recession to come and he likes silver better than gold. Hmmm

That works for me.

https://www.marketwatch.com/story/investing-legend-jim-rogers-expects-an-extremely-bad-recession-why-hes-buying-silver-instead-of-gold-925428db?mod=home-page

Really good discussion from George Gammon, Mike Maloney, and Mark Moss.

https://goldsilver.com/blog/playbook-for-the-next-crisis-where-these-experts-are-investing-gammon-maloney-moss/

Newmont missed on earnings and the shares are being taken out and shot today. Not a good look for the miners.

https://www.mining.com/web/newmont-misses-third-quarter-profit-estimates-on-higher-costs/

This is exactly why Warren Buffett has been downsizing his stock holdings in a very big way. The rules HE created for market valuations known as the BUFFETT INDICATOR say that market valuations are over 200% above the historical trend line.

This article explains how it works.

https://www.currentmarketvaluation.com/models/buffett-indicator.php

What this man is saying makes a lot of sense to me. He gives some excellent comparisons to what's going on now with what went on back in the 1920's and 30's. with the new, cutting-edge technology of that day being RADIO. RCA was the Nvidia of that time.

Is everything different this time? NO, the players and technology have changed, but the euphoria is the same. Way overdone.

James Turk is calling for $50 silver sooner, rather than later. Very soon in fact.

So, what does $50 silver do for a Company like FM. I would say a hellava lot. They would a money cash cow and their earnings would go through the roof. The share action could go ballistic.

It would have to be good for FMG in a roundabout way too. I'm not holding my breath on it happening as soon as Turk is saying, but at some point, in time $50 silver will be in the rear-view mirror.

https://kingworldnews.com/james-turk-says-50-silver-is-days-or-weeks-away-not-months/

Lassonde and McEwan are both legends in the mining industry and this interview is a must watch.

I thought the highlights of the interview was when Pierre compared gold with fiat and how the West and East see them differently. McEwan made some excellent points about the sad state of affairs with the government and mining in Canada, which also concern me. There's way too much government over regulation in the mining industry. It's not allowing for the growth that should be happening.

Gold's correction is coming when the overall bad market news comes moving forward. THAT HASN'T HAPPENED YET.
The market's still in denial here and everyone still sees a soft landing. IMO that ain't gonna happen.

What causes that turn in sentiment is anyone's guess, but when it gets here, we should know it.

Just one thing I like to throw out there for anyone still doubting if Keith has what it takes to create another billion dollar company with FFMG. Just look at the timing of the recent acquisition he made with First Majestic for Gatos. Dude basically nailed that purchase to perfection regarding the timing. Silver prices have broken out very nicely after that deal was announced and shares in First Majestic have had a good rally.

My point is that we really have nothing to worry about here with FFMG with regards to any potential deal they make. I'm 100% confident Keith will give his blessings when he feels the best deal has appeared on the table, and before it does, he probably will reject everything else. It might therefore take a while to get a deal announced because we sure won't get one done unless Keith feels the time has come to monetize the assets.

Just as a side note, it really is incredible how resilient gold prices have been lately. I myself expected a significant correction already at 2500-2600. It seems we truly have entered a new paradigm with regards to gold prices.

Pierre Lassonde and Rob McEwen from a few days ago talking about gold, US Dollar, inflation, The FED and the rotation into gold stocks.

One interesting point is the inflation seen in the recent labor settlements.  Both men think we are entering a phase similar to the decade of the 1970s.

Final point on video was about copper.

.

The last video touched on "The Lassonde Curve" for Junior mining stocks.  Diane Garrett, President and CEO of Hycroft Mining provides a quick 5 minute description of The Lassonde Curve as it relates to Hycroft Mining.  Pierre Lassonde is still being interviewed about his namesake Curve and the devaluation of the US dollar.

Another video from 6ixdotcom on YouTube. 
Lots of great information from four companies.
"Developers are boring."  But then things can happen really fast. 
M&A vs Develope resource internally.
Generalist investors are on the way back.

These BRICS countries mean business and they seem to be getting their act together. Are any of these Idiots in the West taking notice?
They damn well better be.

https://www.zerohedge.com/geopolitical/xi-putin-hail-ties-advancing-fair-world-order-amid-chaos-sown-western-hegemony

Interesting commentary.

https://www.zerohedge.com/news/2024-10-22/will-election-day-spark-chaos-markets

I'm hearing some discussion on Fox biz this morning about the BRICS conference beginning today in Russia. I'm almost surprised any MSM outlets are covering it at all, but I give some credit to them talking about what the implications may be going forward. There could be more talk about an alternative payment system coming online sooner rather than later with the dollar being the target and gold backing the new system.

Good article from Marketwatch about the coiming lost decade for the stock market. If this happens it should be very beneficial for PM's and PM miners.

https://www.marketwatch.com/story/wall-street-is-worried-stocks-might-be-on-the-cusp-of-a-lost-decade-1b3e2512?mod=home-page

It all comes down to how positive the EA submission and news surrounding that is taken. Does that propel our share price high enough to weather the impending downturn in the overall market?

If we got some sort of additional news regarding a JV deal or partnership that might get us high enough to weather the coming shit storm. What price that is would be anyone's guess. JMO

My thinking is also that we have bottomed out with FFMG and gold stocks in general. I don't think we will see a crash like we had in 08-09 which was a complete liquidity crisis causing almost all asset classes to drop significantly. I think we will see more of a concentrated "AI crash" which will cause the Mag 7 stocks and their like to drop by over 50% or more and also causing a big recession in the aftermath. This is similar to what we had in the early 2000's after the IT bubble burst. Gold stocks bottomed out way before the IT bubble burst and while they did see some temporary drops most rapidly recovered and went on to make new highs.

The big question I still have is what will happen with all the banks who are still holding massive accounting losses on their books from their treasury portfolios. Commercial real estate is also in the toilet right now which might spark something similar we had in 08-09 with MSB products. The difference now is that the Fed will instantly bail out anyone who is in trouble, so we might not end up in a liquidity crisis like we had back then. Things have changed in this regard and we already saw during Covid that the Fed instantly bailed out the corporate bond market. They just won't allow something like 08-09 to happen again if they can stop it.

But they cannot stop the AI bubble from bursting. I think we are right now very close to a massive drop in the Mag 7 stocks which will then scare a lot of investors causing them to start doubting whether the "AI trade" is done. When they see their brokerage accounts showing their beloved Nvidia and Microsoft stocks going down 30-50% they will start panicking and sell out. This is what must happen imo before we can get new money flowing heavily into the commodity sector again.

Gold has been rising very nicely so we are perfectly positioned right now with FFMG when this change in investment sentiment does occur. Volume has been picking up nicely in the stock and I think we could very well start a good rally when the final EA submission is announced and further drill results are revealed from Duparquet.

Nice move and volume on both exchanges. I bought a good load at 0.095, my theory is that the price, even after the expected market crash and correction comes, might still be higher than what it is now. For example between now and say EA approval news, our stock price might climb to 0.17, but then the overall market crash mania comes, AI's collapse along with the DOW / S&P, but FF might only come down to 0.12.. so this waiting to reload until the crash comes theory >MIGHT< not be the most optimal approach... but I'm no oracle, just making educated guesses

I would like to get some positive news on the FN front at the time of or shortly after the EA submission is made. IMO that makes some sense as far as the timeline goes, maybe not a definitive approval from the Tribe, but some preliminary approval that at least might indicate they're still working in a positive way to move Springpole forward.

Getting the winter road to Springpole approved was a positive start, but we've really not gotten any specific word from FN about where they actually stand yet. No news may be good news, but the best news we could get is that FN is working with the Company and the government to move the mine forward.

My expectations are that the Tribe will try and get as much as they can for their approval and why wouldn't they go that route. The best way to do that is to drag out any final approval for as long as they can. Maybe it all comes down to how fast they want to get the benefits that the mine will bring to them.

Well there was that settlement agreement from the winter road issue, but we have no idea what was included in that deal. It might be possible Cat Lake agreed to some sort of preliminary agreement that they would be included in the EA process according to their wishes and in return won't oppose the project any longer. For me personally, no news is good news in this regard. FFMG will still have to sign FN agreements with Cat Lake and maybe others but those will come along the way. With gold at $2700, I think Cat Lake is well aware this project will transform their community for the better in the long run with hundreds of good paying jobs and other economic incentives on the table. New infrastructure, roads etc. will all happen ONLY if this project gets developed. They must be aware of the fact that without Springpole there simply won't be anything else in the future to lift their community out from poverty and misery. I think the Chief is on board here in this regard. It seems to me Dan & Steve have now established a good relationship with Cat Lake and maintained dialogue about everything.

Something else that we haven't talked much about lately is what's happening with First Nations? Dan has mentioned it in the last couple of interviews he's done. but largely there's been no news with them since the approval of the road to Springpole was given.

I'm hopeful that as we get ready to submit the Springpole EA in the next few days that we get some sort of positive news that FN is behind the mine getting built.
That would be a big step in convincing investors the mine will get done. It may not be that simple, as I would expect them to try and squeeze everyone for as much as they can possibly get out of them. We'll most likely see ongoing negotiations from them in that direction.

Here's a John Rubino interview speaking to what's happening with the PM miners and his view of what's coming down the road. Much of what he's saying is what we've talked about here. Note what he's saying about good earnings for the producing miners and how that will eventually filter down to the mid tiers, developers, and junior explorers. Rubino is spot on with his analysis.

He also mentions some of the recent acquisitions that we've talked about recently.

Here's the latest video from Andy Schectman from Kitco on where this is all going. Gold will of course be a huge beneficiary of how this most likely plays out.

Trump is trying to protect the dollar as much as he can, but IMO what he's attempting to do may just be making matters worse for the dollar. Time will tell.

I would agree with You. It would appear that maybe some good news might come in conjunction with the Springpole EA getting submitted.

That's only a guess on my part, but it may be setting up to happen. May just be wishful thinking on my part.

It "feels like" all the recent news has been scheduled right before and leading up to the final Environmental permt being submitted. 

Or maybe it is just a coincidence. 

Executive Management and Directors are apparently getting compensated and/or receiving options to buy shares in the future.

FORM D

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM D - Notice of Exempt Offering of Securities

13. Offering and Sales Amounts
Total Offering Amount $1,184,910 USD or Indefinite

Total Amount Sold $680,693 USD

Total Remaining to be Sold $504,217 USD or Indefinite

This is what I have been saying. We need a crash in the "Mag 7 " big enough so investors finally realize that trade is over with. As long as people day trade / gamble in AI stocks and make money in that sector they will keep doing that.

I think we will have a similar scenario as in the early 2000's when the IT bubble burst. That finally allowed the investment crowd to seek new avenues for growth and the capital started flowing into commodities and US real estate.

It's not so much that people don't see the gold price going up, the problem is they see AI stocks going up more and that's where the money flows. People always flock to where the "hot action" is. Sort of the same as in a casino the gamblers always try and seek out the "hot table" where to put their money. This is the reality of the sad state of what "investing" has become, it really is just mostly gambling on short term moves. And don't think for a second we are just talking about average retail investors here. Big hedge funds and money managers are chasing short term performance just as much which then exacerbates problem.

This is just the reality we have to live with BUT there is a flip side to this coin. Because most people are so short term oriented, it also then allows patient investors like us with a very long term view to accumulate assets which are currently out of favor, such as the gold sector. The price we have to pay is to be patient because we don't know when the sector will turn. We just know from history that it will. And when it eventually does turn, trust me, it will happen so quick most people will be completely caught off guard. When the "hot money" suddenly starts pouring back in to the junior/development sector you will see many stocks go up 20-50x in a matter of months. I have seen this happen before so I know where this is headed right now with gold approaching 3k per ounce and the sector still in the mud.

Yeah, with that significant event being a massive stock market crash/correction coming down the pike.

When that happens is anyone's guess, but I've been saying for a long time now that's what has to happen TO CHANGE THE SENTIMENT. The fear trade for gold hasn't happened yet, and won't happen until fear, not greed, enters the market.

IMO the gold price will correct some if that happens, but after the Banksters freak out and go back to QE and give-away money is when gold/silver go ballistic. Then we'll see the big move in the miners when gold goes crazy.

Most of the webinars are the same old schtick and only rarely will Dan say something he hasn't already said ten times before. That gets old for all of us. I may mention that to Paul when I speak to him.

Pretty obvious to me that the mining sector will not turn around until a significant event forces a total reallocation of capital. Although I'm not rooting for a market collapse, it's probably our only hope for an eventual FF stock price liftoff.

If no capital is flowing into miners at $2700 gold, what price level would it take? We need to see unprecedented levels of pain for portfolio managers before they will start moving significant money into the mining sector. That feels like it could still be a while.

I'm not attending anymore webinars from some dude's basement. Y'all wake me up from the cryopod when FFMGF hits $5.

I'm all for that too. The problem is it won't happen IMO until something significant goes on with a JV deal getting done or the mining sector turns around. Even with gold at $2700/oz that hasn't helped It's coming, but when?

The producing miners are making good money now and it be reflected in their quarterly numbers.

How about an option that’s gets the stock out of the basement. Been at these levels for years.

They still own almost 4m shares, at least according to bloomberg, so that will be significant if NexGold gets going here at some point. Could be worth tens of millions of dollars in the near future which I'm sure Dan and Keith is well aware of. I don't think they will sell the shares unless they really have to.

Regarding a potential deal, I'm not really sure I can draw any conclusions from Dan's mannerism regarding this. When I think of the past smaller deals we have done along the way I think he acted very much in the same way as always, sort of not giving away too much until something gets announced. But I could be wrong of course. I definitely think there is something going on behind the scenes because Keith said Dan has been talking to different groups about Springpole and they did remove that last interview with Keith which would indicate they don't want to get into any potential trouble for that.

We know Keith is a shark so it is totally possible he has rejected many potential deals already simply because he wants to be greedy with the assets (as he should).

Also, it might very well be that Keith has already decided these assets will be developed in house so we might be in a situation where they will wait for the EA permit and then Keith will start arranging debt financing to develop the entire thing on their own. Sure, it will be a lot of money to borrow BUT Keith might very well pull this off simply because if the gold price keeps rising and the economics keep improving then Springpole will be a total cashflow monster. In such a scenario, it's not impossible at all to get a consortium of banks together to debt finance most of the construction for a permitted project. It's really just a matter of simple math. You could even get some bigger investors (people such as Sprott & Giustra etc.) or even First Majestic coming in to finance a portion of the projects as well.

I think we should still keep our minds wide open about what might happen here because there are literally hundreds of different routes we might take, The best option after all - still - would be for us to find a way to transform the company into a real miner and develop the assets for ourselves.

Dan actually makes some pretty good points in this video and the other Guy did too. The feeling I got from Dan was that nothing has been finalized and they may still not be close to a deal getting done. I only say that because he STILL is talking about the bigger players in the mining sector not fully coming to the table. He claimed the environment was improving, but we all know until WE get a deal completed has it really improved for us. He did also make mention of companies taking chances to buy out good developers, even if all the permitting wasn't completed.

We may not be the biggest holder in Nexgold anymore, because I had forgotten about us selling some of our shares for the merger between Blackwolf and Treasury to happen. IMO they should hold the shares they have in Nexgold until they move much higher, which I'm confident they will.

Fireside chat posted to Y-ou-Tube. 
Q and A Dan said some NexGold shares were sold but I think he said First Mining still owns 3.5 million shares. 

Found the link on channel  6ixdotcom  
Link below:

This company is moving and shaking fast. A lot going on with them since the Blackwolf - Treasury merger. I assume FMG is still the largest shareholder in this company, I will ask Paul the next time I speak to him.

NexGold Mining (TSV.V: NEXG) - Big plans ahead, backed by Frank Giustra & Sprott

This is a FANTASTIC interview with a very intelligent man. He makes so many great points I can't list them all, but what he says hits home for me. The interview is long, but chocked full of great information.

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