First Mining Gold Corp (FF) Share Price

Yes. I have been trying to work the numbers here for a while and given we had quite stellar drill results back on June 18th which included 5.97 g/t Au over 33.0 m, I think we should be on good track here to grow Duparquet into an 8-10m oz. deposit at the very least. It seems to me Duparquet has gone completely under the radar for most investors because everyone is so focused on that EA permit for Springpole. I've said it before but it might very well be that Duparquet ends up stealing the show here with regards to a deal announcement. There are LOTS of active miners around the Duparquet region, the infrastructure is already there etc. so this deposit definitely could be seen as much less risky compared to Springpole. A deposit of this size is basically guaranteed to be on the radar for every major gold miner on the planet simply because they are incredibly rare, especially in such a world class jurisdiction. The fact that there is an optionality to start smaller in Duparquet should also potentially attract smaller mid-tier companies. I just cannot see a situation where we are sitting at $3k gold and two world class multi billion dollar assets in our portfolio with no interest from anyone. Something will happen here soon.

I think Keith said that Dan is more or less completely responsible for us getting Duparquet for almost nothing, so I think he definitely deserves to get some credit for that even though we are bashing him for other things. I understand those were some very long and difficult negotiations with the families that had owned the company for decades. It Duparquet ends up becoming a billion dollar operation then we definitely owe Dan all the credit for this.

Conversation between David Lin and a mining exec., some good discussion from this Guy about junior miners and even though I don't agree with everything he's saying, I found him spot on about what he says starting at about 12:00 into the interview when they begin talking about the performance of gold vs gold miners.

Listen to how he describes the moves in the prices of the miners when the sector FINALLY starts to move. It becomes just like everything else as the mania starts rolling and picking up steam. No one wants to own the shares at .10, (sound familiar?) then when it moves to .30 people start taking notice and by the time it hits .50 everybody and his brother want to be in the stock. That's when the parabolic move higher comes, and the REAL money is made.

More drill results from Duparquet. Decent numbers.

https://firstmininggold.com/news/first-mining-further-defines-buzz-zone-and-north-zone-expansion-targets-at-the-duparquet-gold-project

Having talked to Paul as many times as I have, I'm pretty confident that even if he knows the timeline on a deal getting done or when the next dilution may have to take place, he couldn't tell me. That doesn't mean I won't go through the motion of asking the questions.

That $18M in the bank is being spent as we speak and growing smaller every day. This dilution issue is a concern of every shareholder, and my guess would be that our Management is being flooded with questions like ours concerning it. Dan said about half a dozen offerings ago that the share dilution would stop, and it's only accelerated. IMO that's the biggest reason for him having a tainted reputation. He made that claim knowing full well it wasn't true.

When I talk to Paul I'll post what he tells me. His problem is he is required to answer questions, most of which he can't answer.
The waiting game continues.......

I don't think asking Paul about future equity financings will yield much substance. It's not like the guy has a crystal ball and he can tell us exactly how future financing rounds will emerge or what situations we might find ourselves in. He will most likely tell us the same old story about them trying to do everything they can to minimize future dilution by looking at all financing options available. Sadly, as long as the sentiment in the sector is in the toilet the only real means of raising money is through equity. If we can get the sector to turn around then there might be more options available.

Having said that, with $18 million in the bank as of October, I think we are right now in a quite good place financing wise. Investors need to understand the mentality of Keith. The guy has made it quite clear he will try advance these two assets into production as soon as possible really no matter what the cost will be in the end. Is a billion shares outstanding a lot? Maybe, but if we are suddenly looking at a situation where we are brining two of the biggest undeveloped gold assets into production then a billion shares outstanding really won't mean much, not to me at least. If Keith does not worry about the shares outstanding then why should we? Are we really in any position here to judge what they have done financing wise? What would any of you guys have done differently during this period where the entire sector has been basically abandoned and sources of financing are very limited? I really just want to stress here that the period we have been through has been one of the most brutal bear markets the sector has seen. I think it is really nothing short of a miracle this company has even been able to survive much less advance the permitting to the point where we are today. Permitting mines is a very costly process which requires lots of money. People should not forget Dan and his team did raise some $60 million in non-dilutive cash during this period, so it's not like we have just been issuing shares all the time without any concern about dilution.

Don't get me wrong. I am a big shareholder in the company and of course I am also very disappointed with the share price performance to say the least. But this is just the reality of what we have been facing. I'm telling you if we had been through a similar period as we had in 2010-2011 then this would already be a billion dollar company long ago and we would have been bought out. But markets seldom work as one would expect.

I'm probably getting quite repetitive here but I really think we are going to see a deal in 2025 when we get some more clarity where we are in the EA permitting process and get an updated resource base for Duparquet. There is an insane amount of "stored up energy" in our share price in the sense that when the sector does wake up - and it will - the rise will most likely be spectacular when you get people rushing back in. I have seen this a few times before.

I was hoping the last dilution was the last one as well.


Even though the Springpole East drill results looked promising, my mind was drifting to:
 "How much will this cost?"  
"How much is in the bank?"  
"Will this spend delete the bank before a solid offer is agreed to?"

On the other hand, I do appreciate the company trying to maximize any offers that may already be on the table or being tossed around.  Add some good drill results to maximize the Springpole project.  

Two sides to the coin.  
We already know a payday is coming.  We just don't know when.

Btw, I was somewhat surprised by the Silver in the results.  

Yeah, I would agree. The big money to be made for any of these miners is going to come AFTER the sector finally wakes up and gets noticed by investors. Even with gold at these levels that has yet to happen. It's going to take a higher gold price coupled with a market correction IMO for that to happen.

FMG shares should soar after the foundation laid with all the milestones being met, we've talked about ad nauseum here AND after we get a deal done that stops further share dilution and puts the Company on solid financial footing. That's when all the Naysayers in this Company won't have a leg to stand on.

IMO that time is coming. When it happens is anyone's guess.

That's another good question for Paul. When are these dilutions going to finally cease?

I was hopeful that this one they just did might be the last one, but without knowing exactly where we stand in getting some sort of deal finalized how can we be sure if they have to do more future offerings? I can't answer that question, and I would bet money Paul can't/won't reveal anything to me.
That doesn't mean I won't attempt to weasel it out of him.

I would agree with You that any future FMG share price appreciation most likely won't happen until the dilution stops and we're on better footing financially holding an agreement with a bigger fish.

I believe we are one more dilution away from share price at zero. I would like to know their plans to sell interest or assets elsewhere even at a loss to avoid dilution. Similarly - either through a JV or some other deal - I would like to see a share buyback. Outside of FFMGF buying back some of its 1.4B shares or whatever it is now... I think it will be difficult to get significant lift. Forget about a return if we are still diluting in 2025.

I think it sort of would depend upon what kind of a deal we would get. We have seen other partnership announcements in the developer space where the share price did not move much simply because the entire sector is still so hated. But if we get a good JV deal announced on either Springpole or Duparquet (or both?) then I would be very surprised indeed if that would not move our share price at least to the CAD 0.3-0.5 range. It could definitely shoot straight up over a dollar as well if the gold price making new highs would wake up the sector at the same time. But a deal announcement is really what we need share price wise. I don't think it matters much for the share price even if we publish the greatest drill results or updated PEAs for Duparquet. As long as the sentiment is bad it will most likely mean we are going to have to wait. But a deal announcment should definitely give us the first 2-3x from these levels.

I plan on talking to Paul H. in the next week or so. I want to quiz him on where we stand now with some of these timelines with final EA approval, Cat Lake talks, and the Duparquet PEA. I hope he can speak to those issues, but we know these are events happening down the road, not right away.

I would expect IF we got some sort of partnership agreement announcement that such an event would move our share price UP and OUT of this trading range we've been in for what seems like years now. I would guess that such an announcement might be timed to come around other significant company events to maximize the push higher for our share price. That's speculation on my part, but IMO makes some sense. Maybe it will coincide with the push higher for the gold price through that $3K mark? Sometime before mid-year 2025. We'll see what happens, but if all goes to plan, we should finally get some move higher in the FMG share price next year. Hope springs eternal.

Yes, more or less agree upon what he predicts here. The timeline would also fit perfectly with regards to a payoff in FFMG. I really hope we are able to close some kind of a deal during 2025 or 2026 at the very latest. But I think a deal in 2025 is a very high probability right now because we will get the updated PEA/resource base for Duparquet and Springpole in all likelihood will get the EA approval around year end. Maybe it will drag along a few months but they will get it. Someone in the mining space must be interested in either asset if gold is around $3k. These assets will literally be worth billions in the next few years if what Gary predicts will indeed happen.

Here's Gary Savage's take. He's saying gold price bull won't be over for another four years. Should be interesting to see how high that takes the price. He's expecting the $3K breach to happen in the Spring of 2025.

Eastern Extension at Springpole.

First Mining Gold: News Releaseshttps://firstmininggold.com/news/first-mining-identifies-eastern-extension-resource-growth-opportunity-at-the-springpole-gold-project

I expect sort of a inverse head and shoulders pattern to form here. I think we get another big leg down to maybe $2300 or so to complete the head formation and then bounce hard again (maybe on geopolitics?) only to have another lower high after that. If this pattern completes it will be very bullish for gold and $3k will most likely be broken in 2025.

Gary Wagner appears to be exactly right on his call for a nice bounce in the gold price. Big moves up yesterday and this morning. Question to be answered going forward is how long will it last?

If Gary is right with his analysis, we should see another leg down, before we get that big move up through $3K. Let's see what happens.

Yes, this was one of the reasons the stock suffered a lot at times because Van Eck held quite a big position in FFMG which they then were forced to dump on the market. I would definitely expect us to be included in many indices when the sector turns which should then mean lots of buying from ETFs. FFMG should definitely be among the largest developers market cap wise when the sector turns bullish again.

As the mining sector begins to improve and move higher as a whole, I would expect at some point that FMG would probably be brought back onto either the Van Eck junior miner ETF or the regular gold miner ETF. Several years ago we were on with Van Eck, which I believe is one of the biggest. We got dropped off with them when our market cap dropped below a certain level.

I would be very surprised if that doesn't happen at some point BEFORE the big move higher in the miners gets here. If that happens it will be a great signal to everyone that our share price will be moving much higher.

The ETF Amplify Junior Silver Miners has bought 12 485 822 shares of FFMG. Filed 18/11/2024. This is a very good sign that FFMG is back on the ETF radars.

Another trillion dollar debt level goes racing by. Not good.

https://www.usdebtclock.org/

The company shill interviewing Peter Grandich. There's not a lot new talked about here, but I posted it because in the camera shot of Ron's basement it has a sign of FMG in the background. I see he now has a sign of Fortuna Mining behind him, Guess he's on their payroll now too. LOL
He's got to make a living too.

Dan LinkedIn post.

https://www.linkedin.com/posts/dan-wilton-13193_november-5th-2024-gold-chartbook-profit-taking-activity-7259995012036218880-SLNh?utm_source=share&utm_medium=member_android

This would fit very nicely to the timeline of FFMG. Approaching $3k gold and above around the time we get the EA approval and also an upgraded resource / PEA at Duparquet would be perfect.

Good TA analysis with Gary Wagner on where he sees the gold price going in the next few months. At the time of this interview he obviously didn't think gold would get below $2600 because he states that more than once during the interview.

He sees a bounce higher with another retracement lower, then most likely next year, he sees a move higher back above the $2800 high. Makes some sense to me. I didn't hear him give a target price for where he thought that last wave higher would take the price. My guess would be above $3K. That move may coincide with the onset of a weaker economy/recession finally coming to fruition. That could weaken the stock market and send investors into gold as a safe haven play.

Even though I don't comment every day I still read all the posts and watch a video every now and then.

Thanks to the folks that share content all the time.  This board is a lot more active than StockTwits. 

Another must watch George Gammon video. The subject is about the Trump tariffs. He gives some in depth analysis on how he sees those working or NOT working. He cites some amazing historical facts about tariffs from them being implemented in the past.

Amazing how the politicians just rehash the same shit from a time no one can remember. People like Gammon are incredibly smart to reveal what's happening.

Ron Paul says "EVIL emanates from the fiat money system". Ron's making the rounds and here's a recent interview from Kitco.

Wise words of wisdom from Ron Paul, again. Audit the Fed, then abolish them after the horrific results are revealed. That should be another of Trump's mandates. Also, an audit of how much actual gold is held by this country. We know what they claim isn't true.

https://www.zerohedge.com/political/ron-paul-make-money-free-again

Correct. I also think the "Cat Lake led impact assessment" is nothing more than a way for them to sort of try and get all their demands met. Cat Lake knows the formal clock is now ticking on the final EA approval which means they also won't have that much time left to get a community agreement signed with FFMG. Mark my words the government will approve of this project. It is just way too valuable and it will also enable more infrastructure to be developed in the region which has been a goal for the current Ontario government for some time.

If Cat Lake does not get on board here soon then I sadly think they will just be ignored and this time the courts won't really be of any help for them. FFMG has gone way beyond what companies normally do in order to make sure all of Cat Lake's concerns have been heard and incorporated mitigation plans into the project design. There is no way they could claim FFMG did not consult them properly on the project when we have a mountain of scientific evidence stating the complete opposite. This is why I think the way FFMG has handled this whole situation with Cat Lake has been great. They have really made sure that all of the feedback received from Cat Lake has been carefully documented into the Final EA submission which means it would be preposterous for Cat Lake to claim they were not consulted. The fact that FFMG even supports their own FN impact assessment just makes it look even better. This is not something FFMG is required to do by law at all. It just shows FFMG has done everything they can to make sure their concerns have been heard.

I also think Lac Seoul and Slate Falls will get on board possibly before Cat Lake which would basically seal the deal. All of these FNs want the new roads and infrastructure this mine could potentially enable, not too talk about the immense economic benefits for the entire region. I am quite certain there are quite a few ingenious people in all of these FNs running local businesses who are very interested in the opportunities Springpole could provide. Should their voices not be heard? I think there will be lots of internal conflicts inside the FNs if they don't get on board.

They have this one chance right now to transform their communities for generations to come. If they blow this, then sadly I think Cat Lake will become a ghost town within 10-20 years.

Well, at the end of the day, FMG will have compiled a mountain of evidence that proves Springpole without a doubt can be mined in an environmentally responsible manner. The EA submission and what I would expect to be an on-going confirmation from experts, like these people, will continue until the final approval is given by the government.

What exactly the tribe at Cat Lake is attempting to prove with their study to me is unclear. I'll ask Paul H. about that when I speak to him next, but my suspicion is their study will be little more than a list of grievances for FMG and the government allowing a mine to be built there, disturbing their hunting and fishing grounds.

Of course, that will require more "stuff" from us to get their approval. They will give their approval in the end because they need this mine to save their ass, but it won't be presented that way. My guess is that these negotiations are done pretty much the same way when it comes to these mines getting approved and built. The miners have to prove their case for being environmetally friendly and FN has to play their cards to get as much as they can.

Exactly. And most importantly, all of this will further protect us in the future should Cat Lake at some point trying to get in the way for whatever reason when the project has received the EA approval. There is an enormous amount of EA work in the final submission. Like every single little detail has been addressed in there, from fish habitat protection to water management, air quality, tailings management, caribou movement, etc. Like it's really hard for anyone to make a case here that FFMG has not done proper work in consulting all of the affected parties. These independent experts who are all hard core geologists giving their consent to the safety and viability of Springpole just further strengthens our case that Springpole can be mined responsibly. In the end, we are dealing with real world science and engineering here. This is what counts when the final EA approval is given. The company has to demonstrate scientifically that the mine can be operated in an environmentally friendly way and FFMG has now done that. The final EA submission is just full of comments received from Cat Lake and other FNs so how could they possibly claim they were not consulted? It's all in there for anyone to read.

This is just more confirmation to FN and Cat Lake that Springpole is environmentally friendly and viable. Checks another box for us.

I certainly hope you're right about the Canadian people waking up and electing some people in government there with a little common sense. It's been a long time since that's been in place. IMO it will help the Canadian economy as a whole and more importantly the mining sector. That will help our investment here by reducing REGULATION and by having a more capitalist view of business in general for Canada. This is a long time coming IMO.

Trudope needs to go ASAP. That would be a great start. To clean house in (like was done in the U.S.) government would be good too. Mining experts, like Pierre Lassonde have commented on how the government there has stunted the growth in the mining industry by having their heavy hand on the industry. If that changed it would bring much more investment into the sector.

More good news for the progress of Springpole. Adds lots of credibility to the project by having these experts give their seal of approval to the project design.

First Mining Announces Positive Initial Review by Best Practice Independent Geotechnical and Tailings Review Board for the Springpole Gold Project

Peter Lighthall, P.Eng.
Ward Wilson, Ph.D, P.Eng.
John Lupo, Ph.D, P.E.

The IGTRB has reviewed all design materials produced to date by the engineering team and the responses addressing their review questions and comments. The IGTRB has noted their support for the design advancements made since the Pre-Feasibility Study, that the work completed to date meets their expectations, and further highlighting the favourable geotechnical foundation conditions at the CDF location.

I recommend to go and read the final EA submission documentation on the FFMG website. It's just an astounding amount of work they have done for this EA report. You can see all the documented questions from example Cat Lake about their concerns and all of the mitigation measures and modifications the company has done to the project plan to account for this.

I will just highlight some of the final benefits from the project. This is pretty much a summary of why I am 100% confident Springpole will receive the final EA approval.

•Project Employment: The Project will create 43,880 person-years of employment (including direct,
indirect and induced effects) in Canada during construction, operations and active closure. The
Project will directly create 8,890 person-years of employment in Ontario during construction and
over its operating life. On average, the Project will result in the equivalent of 2,510 jobs (including
direct, indirect and induced effects) in Ontario, in each of the approximately 18 years from
construction through active closure. Of these, 510 person-years of employment would be directly
associated with the Project. Another 2,000 jobs will result through indirect and induced effects
during construction, operation and active closure on average.

• Project Contributions to Government Revenues: During the approximately 18 years from
construction through active closure, the Project will directly and indirectly create $944 million in
revenues (undiscounted) for the Province of Ontario. This is equivalent to an average of about
$54 million per year. Total revenues for the Government of Canada would amount to $1,092 million,
or an average of about $62 million per year.

• Project Contributions to Economic Activity: During the approximately 18 years from construction
through active closure, the Project will directly and indirectly increase economic activity, as
measured in terms of gross domestic product by $7.6 billion in revenues (undiscounted) for Ontario. This is equivalent to an average of about $432 million per year.
My Comment: This is an astounding economic impact to a region that is very impoverished. The GDP of Ontario is around 900 billion.

• Benefits to the local and regional economy: The Project will positively affect both the local and
regional economies primarily through spending on labour, goods and services. FMG will implement
measures to enhance contracting and employment opportunities for local and regional residents
and businesses, including Indigenous-owned businesses. Project expenditures on labour, goods
and services during construction and operation will result in a positive effect on economy by
supporting local and regional businesses and allowing them to build capacity and experience in the
mining supply and services sector.

Just browsing around Reddit randomly on different Canadian threads post the US election you can really get a feel about how even the "Reddit Crowd" (traditionally very left leaning) are all very upset about immigration (among other things as well). I have been expecting a total turn to the right politically in Canada for some time now and I think the next elections will truly show how the public feels about the current situation. Trudeau will be cast out big time and I think Pierre Poilievre and his conservative party will win a massive victory, sort of the same what Republicans pulled off in the US. Trudeau probably knows this and has been trying to act tough on immigration, but I think people already know he is fake as hell and won't fall for it. The people have had enough with leftist policies all over the Western World. You can see this with the rise of supposedly "far right" political parties everywhere, especially Europe. This is just normal every day people being screwed by inflation and reckless immigration policies and they want to change their countries for the better.

This can only be good for us going forward with regards to FFMG and mine development. Canada is definitely already as left as it can be, so things can only turn better from here. The pressure is building for a radical change to the right and I'm quite sure this time around we will keep the momentum going.

I trust Trump will make a good pick for Treasury Head. IMO that's going to be a very important slot to fill.
It may be best if he picks someone that knows their way around Washington a little. Maybe Ron Paul would be a good fit. LOL

I would love to see that happen, the only problem with that is his age.

Paulson just dropped out of consideration as Trumps's Treasury Secretary.....Fun while it lasted, LOL !!

Excellent interview with Ed Dowd. He comments on gold towards the end of the interview. I agree with his notion that Trump is inheriting a bad economy that was papered over by the Dems and Banksters.

https://www.zerohedge.com/political/they-just-got-handed-fraudulent-books-ed-dowd-warns-trump-inheriting-turd-economy

Yes, thanks for the context. This bodes very well for the entire PM sector and $FFMGF

Always interesting commentary from Gareth Soloway. He still likes gold and thinks it may pull back to $2500 before making a run to over $3K.
We'll see.

Saw this concerning Ron Paul. Elon Musk wants him to come onboard. Musk is making some great choices.

https://www.msn.com/en-us/news/politics/elon-musk-says-would-be-great-to-have-former-congressman-and-fed-critic-ron-paul-in-department-of-government-efficiency-if-trump-wins/ar-AA1tmIdq?ocid=BingNewsSerp

Didn't hear anything about Ron Paul being part of the Trump admin., but Paulson was the man that said in an interview before the election that if Trump lost the election he would move most of his holdings into cash and GOLD. Both Ron Paul and Paulson are big gold bugs.

I think Paulson would be a fantastic pick for Treasury head. There may be a few other people Trump's looking at before he makes the pick.

I'm liking Trump bringing Ron Paul into the fold. Potentially Trump may add John Paulson as Treasury Secretary. This would be a double barreled blast for Gold. Fingers crossed, both these boys understand sound money/Gold. 
https://www.forexlive.com/news/gold-is-getting-beaten-up-on-trumps-win-but-eye-the-pick-for-treasury-secretary-20241106/

I've never heard of this woman, but I ran across this video interview on Utube and though it was extremely interesting,

What they're discussing WILL be one of the big problems coming next year and may well be what brings the stock market down. It's called refinancing the debt. Trump will have absolutely no control over this event, so I don't see how he'll be able to fix it.

I highly recommend watching this.

IMO the gold correction HAS started. The question to be answered is how low it will go. IMO it will be a process and will take some time to finally bottom. A 20% correction from $2800 gold gets us to $2240, a 30% correction would get back down to $1960 if my math is correct.

Will we get there? I don't know, but if we see a big market sell off in the not-too-distant future, PM's will continue lower with the stock market until that bottom is met. Of course when the stock markets sell off we'll see the Banksters drop rates at a very big clip. The panic down will ensue.

It has been my experience that when PM's move, they're usually front running the stock market up or down. IMO that could be where we are now. Gold and silver are selling off in a big way, but the stock market AND CRYPTOS are going parabolic. This is a fucking mania plain and simple for them. A blow off top is happening in those assets as we speak. How long will it last is anyone's guess, but it will end eventually.

IMO all of this is to be expected. The mining shares won't do squat until gold recovers and makes it's next leg move higher. That's the big reason why I don't think the bottom is in yet for the mining shares.

I see our shares are taking a big hit today too.

I more or less agree with his views on gold. The run up has been very strong but like I also have stated many times we have been way due for a correction. I myself expect gold to correct to somewhere around $2300-$2500. This should be more than enough to get most of the commercials to liquidate their short positions and start and new major move higher and above $3000/oz.

I recommend to watch the Commitment of Traders report at barchart.com for gold because every time we have been seeing the commercials heavily liquidate their shorts we have started major long term moves upwards. The last two times (2015/16 and 2018) the commercials where actually net long we got major moves upwards shortly after that.

So this correction is actually a very good thing and a healthy development for the market. If we can manage to stay above $2000/oz. now until the commercials have gone net long then the setup will be EXTREMELY BULLISH going forward. There should be more than enough support above $2000 to accomplish this.

With regards to FFMG, the gold price does not make any difference for the story right now. Both Springpole and Duparquet are very valuable projects with gold north of $2k. We need the permits for Springpole and we need to upgrade the resource base at Duparquet to ideally over 10m ounces in the ground. When these two milestones are reached we will be up for grabs.

I really like what Brien Lundin says in this interview. The Man just makes a lot of sense to me, especially the part about the gold price being reset higher at some point down the road. I'm not as sure about when we see a $3K gold price arrive. 2025 is going to be a very interesting year.

I see gold is falling pretty hard again today.

Dan would like to thank all the FMG shareholders for the additional dilution created to keep the Company operational. Let's all hope it pays off big in the end here. Maybe I'll live long enough to see it happen. LOL

https://firstmininggold.com/news/first-mining-announces-2024-third-quarter-financial-results-and-operating-highlights

You may want to watch this short video speaking to central bank gold buying and what China is doing with gold and silver. Gives some nice factual numbers on what's happening.