First Mining Gold Corporation (QX) (FFMGF) Quote

I agree. I would like to see Management focus on getting our share price higher sooner rather than later. Whatever they have to do to make that happen.

Gold is breaking new record highs and will continue to move up in time. I personally would like to see them procure our financial freedom with whatever deal they do. I don't think that should require us giving away the farm to secure. That might be the best medicine for our share price and future outlook.

The synergy would come from the combined assets in the new company. FFMG shareholders would benefit from a new near term producing gold asset and NexGold shareholders would benefit from two new world class gold assets. The cash flow from Goliath could then be used to partly finance the development and construction of Springpole and Duparquet. The combined company would also benefit from the current NexGold Chairman & CEO who are both proven mine builders with excellent track records. Finally, the backing of Frank / Keith / Sprott would be a very nice and credible owner base for the company going forward as all three would definitely look to develop the company into a long term major gold miners. I think this is a no brainer deal for both companies if they could get it done, but time will tell.

What you're implying might happen, I just don't see enough evidence at this point it will. Just like there's not enough evidence pointing to FM and FMG doing some major JV deal right now. It could happen, but will it?

FMG is holding the good cards in this poker hand. We have the straight flush. We have the gold in the ground. All they have to do is get our best price for it.

A little closer to Red Lake, Frank G owns part of West Red Lake Gold. At least he did at one time. I think WRLG bought the old Madsen mine.

Canada seems to provide safety and security for these large projects to attract the deep pocket investors.

I don't see any cost synergies for a merger between Nexgold and FFMGF other than combined Executive management. Too many miles between the two projects.

It would be nice for FFMGF shareholders to see a significant bump in share price sooner with room for growth later over the years. Would a Nexgold + FFMGF merger provide an immediate bump in share price? Maybe. I would vote for the best outcome for shareholders. I don't really care about the Who.

;o)

Just adding that this would of course all depend upon how Frank and Keith could come to terms on a potential deal. Like you said, both definitely have big egos and there is also Sprott involved with 10%. Sprott already did a major deal with Keith with First Majestic when they bought Jerrit Canyon and Sprott is still a minor shareholder in First Majestic, so him and Keith definitely are on good terms. This is what excites me the most about this potential merger because I know Keith and Sprott are friends and probably talk every now and then about business and what's happening in the sector. If I can come up with this idea then I cannot see how Keith / Frank / Sprott or even Dan would not have thought about is as well since the synergies are so obvious.

Even if they had something bad between them (I don't think they do) they would still have to recognize a good opportunity when it shows up. Both guys are smart as hell so it would be silly to discard a potentially massive opportunity to create a big new gold miner just because they don't like each other. Both guys would have millions invested in the combined company, so I think they would certainly be able to work something out here. Neither Frank or Keith would be interested to run the day to day operations anyway, so there would not be any clashes here. I think they would just do whatever makes the most money for themselves and their shareholders.

I really hope we are having discussions with NexGold right now (among others) because the more I think about this potential merger the more it makes sense. Both companies are basically suffering in the same exact environment with depressed shares so there definitely should not be any hostilities from either shareholder base. I know I would support a merger either way even though I am a big shareholder in FFMG. I think NexGold shareholders would benefit enormously from the merger as well.

I read the latest investor presentation on NexGold Mining and it seems Frank currently owns about 10% right now. I also noticed Sprott in there owning another 9-10% or so, so NexGold definitely has some major guys backing their progress.

What I think NexGold is severely lacking is any new good projects in their pipeline after they get Goliath into production. Springpole and Duparquet would be fantastic assets to get on the same platform as the Goliath-Gold Complex because the synergies would be so obvious. All assets would fit nicely under the First Mining Gold umbrella and the funds from Goliath could then be very nicely used to develop Springpole and Duparquet into production. All of a sudden you could be looking at a new major gold miner producing in excess of 500k ounces a year before 2030.

It gets even better than that. This combined company would most definitely then be a "hot target" for any bigger player in the space simply due to it owning the most significant newly permitted assets. I really think a merger with NexGold could be the best outcome for us at this point. Like you also said Frank should be very interested in merging with FFMG in an all share deal because both companies suffer greatly right now due to the lacking market sentiment. But under the same umbrella, these fantastic gold assets + the backing of Keith / Frank / Sprott should be such big news I cannot see how the market would not see how massive this could become.

All of this is pure speculation of course on my part and in the end we will get the deal Keith thinks is the best for the company. We are probably talking with many different groups right now like Keith said in that interview which of course is good news in the sense that we have many interested parties generating competitive tension. But I cannot see how Dan & Keith would not have at least discussed this NexGold option if there was any chance of it happening.

I would add this thought to the discussion about your theory of a Nexgold - FMG merger deal.

If I recall correctly the Nexgold CEO said in an interview Frank G. holds 20% interest in Nexgold. That may be a standard percentage holding for Frank I don't know.

What I think what we would want to see is Frank take a stake in FMG. IMO that would tell us and the world where this is probably going. As depressed and beat down as our share price is now why wouldn't Frank want to take a position, especially if your theory is where they're going? It would also give FMG some very big legitimacy in the marketplace.

Such a move would tell us what may be coming, but until that happens I don't know.

Your idea makes sense to me as a very big picture move, but because of what Keith said in this latest Ron's basement interview it sounded to me like Dan was already in talks with other parties, meaning MULTIPLE parties about doing some sort of deal. Without knowing the specifics on what Dan's negotiations may be that leads me to believe it wouldn't be just with Nexgold.

What is being discussed by Dan now is by no means what might happen down the road, combining these assets would IMO be a fantastic move for everyone involved. Keith and Frank G. both have to know that.

I think it was the last time I spoke with Paul I asked him about the Nexgold deal and Frank G. coming into the picture there with them. He acted like he didn't even know who Frank G. was. I found that to be a little odd, but I would expect Keith and Frank to be well acquainted. The only problem is I would expect them both to have big egos. Would they be able to work together? Let's see if it happens.

Just a random idea that crossed my mind when reading about the latest developments at NexGold Mining. NexGold has clearly stated as one of their objectives to become the next mid-tier producer in Canada by evaluating more potential acquisitions. They are now on a very clear path to become a producing miner in the next 2-3 years or so since they are already fully permitted with the Goliath-Gold complex and they have solid financing from Frank Giustra and other investors.

Since FFMG already is a major shareholder in NexGold, would it be completely out of the question to maybe merge these two companies at some point? I know this might seem odd but hear me out on this. I would love to get your opinions on this since I think this could potentially be a very good move for us.

We know for sure Keith especially would more than likely want to develop the assets for himself so this could potentially provide a very good path for a future gold company Like I said, NexGold will start mining the Goliath-Gold complex during 2026-2027, so if they decided to merge with FFMG not only could we see a clear path for revenues, but we could then use this merged platform to potentially create a very large gold mining company in a few years time. FFMG already owns a part of NexGold and both companies shares are very depressed right now which would make it easier to make a case for a combined company.

The revenues from the Goliath Gold Complex could then be used (in part) to finance both development at Springpole as well as Duparquet. You get permits for Springpole and maybe get that smaller operation going at Duparquet and suddenly we could be looking at a very significant gold mining company in the making. I know for sure Frank Giustra is a guy who likes to think big on deals like this and since Keith is also known for building his companies through M&A then I cannot see how these guys could not have at least thought about merging the two companies. I have no idea on what terms Keith & Frank are personally, I really hope they don't have any "beef" between them or anything like that, but I think both of them will recognize a good deal when they see one.

The combined company could also be a much better "sell" to the bigger investment community when the sentiment eventually turns. Having both Frank & Keith as financial backers in the combined company could provide superior credibility going forward when we are looking to get financing for the mining operations. I really think this could be a potential deal in the making here and FFMG being already an owner in NexGold would make it a natural move so to speak.

A deal like this would also most likely release us from this "pressure" to find a bigger partner on the Springpole project. We could then completely focus all the energies and money of the combined company on getting Goliath up and running and then direct those funds towards Springpole and Duparquet. I really don't see any pitfalls for a plan like this. Another "positive" for many of you guys would be that Dan would most likely be let loose. I cannot see how he would have any role in the combined company, other than maybe as a M&A director or something like that. This deal would really transform us into becoming a real mid tier miner with significant assets for the future. I really would love this deal to be announced.

NexGold has a superb Chairman (Ex-President of Barrick / DeBeers) and CEO (35 years of mine building experience) as far as I am concerned and both would be perfect for the combined company. Keith and Frank would stay as financiers and advisors in the background which would also just be perfect. Keith is so busy with First Majestic anyways so he really can't have that active of an role in FFMG other than guiding the company behind the scenes and providing M&A advice.

Like I said, both companies have very depressed shares, so it's not like shareholders in either one would lose out here in any way. NexGold would benefit enormously from getting two world class projects with clear paths forward and FFMG would benefit from getting another great permitted gold asset with near term revenues. I really think this deal is actually quite a no-brainer and could be incredible if it could be done on good terms. Let me know what you guys think about this,

I ran across this interview with one of the execs. from FM talking about the Gatos acquisition. I thought it was interesting to hear him talk about Keith's strategy and how he likes to grow his companies through acquisitions. This may give us a preview of how things could go with FMG moving forward.



Keith interview

The Chinese economy is already in deep doodoo. Their economy is front-running ours. As the U.S. economy begins slowing, their problems should get even larger.
PBOC is doing what the printer's on this side of the pond are doing. Printing more fiat.

https://www.zerohedge.com/markets/china-launches-more-stimulus-pboc-cuts-rates-announces-rare-press-conference-support

I watched this one last night.
Pretty crazy numbers.

I think she quoted Jim Rickards using simple math dividing the national debt by the estimated value of gold bars in vaults in the US.

By that estimate Gold in US dollars backed at only 40% gold standard should be at $27,000. A dollar fully backed by gold would be in the neighborhood of $56,000.

Obviously the US population has to be punished by massive inflation before the national debt can be inflated away.

Speak of the devil and he shows up. Here's a must watch video with Michelle M. at Kitco talking about the BRICS, gold, dedollarization, etc. The reset that seems to be coming.

Great discussion.

I'm hoping in this upcoming BRICS conference they talk about gold fitting into their payment system. Maybe then it will wake up the fools that aren't accounting for that coming. Many gold followers were expecting it to happen last year, and it didn't. Maybe that news comes next month.

Harry Dent's brain is a pet rock as far as I'm concerned. Talk about a Snake Oil pusher. I put him in the Jim Cramer/Dennis Gartman group.

We may see a shaky week with all these new shares coming into the market. I would expect more big volume days and most likely a continued push lower in our share price until these shares get absorbed.

It might be a good time to add a few shares depending on how far we fall. JMO

I indeed have noticed this. Gold has been so "hated" for so long it's as if almost nobody dares to mention it now that it has indeed risen spectacularly in the last decade. The major banks are indeed quite bullish on gold with lots of of them predicting 3k$ gold in the near future, so it's not as if the banks are against gold rising.

The problem as I see it is that the "general investment community" is still so focused and drunk on this AI bubble they really cannot see any other opportunities yet. We must have a big enough correction in the AI stocks so that the majority of investors understand that trade is over with. Right now, we are sort of in a twilight zone where people are starting to get skeptical if AI will deliver the ROI that has been promised (spoiler alert: it won't). But people are still long this stuff.

When we eventually get that big correction for whatever reason then people will start to look for new trades to go long and that is where commodities and precious metals especially will start to shine. This is exactly what happened back in the early 2000's when the IT bubble burst and investors were suddenly hit with horrible losses and were left out without any major investment themes. It was exactly from this macro setup we got one of the greatest commodity bull markets started. I see sort of the same happening now, but we really need to get a big crash in the AI stocks first.

Keep in mind that back then, gold stocks had already started their bull market during the IT crash, so we might very well get the same happening now. When investors will see their beloved "Mag 7" stocks in the reds while also seeing that gold stocks are outperforming everything else then that is when they will start to aggressively chase performance. I think it is very probable we will get a scenario like this. This will be a repeat of 2000-2010/11 only this time it will be on steroids due to all the money printing done during covid. The dollar, at some point, will start to weaken massively due to the FED's upcoming reaction to the AI crash. The dollar will not become worthless or anything like this, it will just weaken massively against gold and other major currencies.

Have you heard anyone say gold is a pet rock or any other similar nonsense lately? Remember when people were making a big deal out of Harry Dent predicting $700 or $800 gold? WRONG. Now that the corrupt folks have feasted off shorting paper gold and silver they have gone long and are touting it. Good, because small fry investors like me will benefit from gold assuming its proper place higher up in the monetary food chain. Even some larger investors will be off the mark to the low side if the world moves to factor gold into their currencies. Assuming no EMPs and/or WW III, FF will have its day and by extension we all will too.

Gold is so undervalued in dollars IMO because the West still has some belief in the dollar system. Gromen spoke to that change coming in this video. I NEVER hear anyone on MSM business news talk about the dollar being on its way out as the reserve currency, but we can see many countries around the world, those banding together in the BRICS alliance that aren't joining to stay in a dollar-based system. The momentum is beginning to swing away from the dollar, but investor's in the West don't want to come to grips with it.

Gromen also spoke to all the gold being accumulated in a big way by the central banksters. These are the same scam artists that claim gold's not money, but they're not buying Bitcoin or hoarding fiat. They keep buying gold.

Gromen also said something in the video that really surprised me He made the claim that he thought physical gold was still more undervalued now than the miners are currently. I don't know how he comes to that comparison, but IMO most of the miners are unbelievably cheap. Not sure I agree with him on that remark.

Luke Gromen has an interesting take on the stock market priced in Dollars vs priced in Gold somewhat towards the end of the video. Maybe around the 45 minute mark.

The meat of the conversation about gold starts around the 36 minute mark.

Minute 41:45 "Gold is effectively the BRICS currency.".

Gromen had a comment about the norms of gold "priced in foreign debt" that I didn't really understand completely.

Gold is still very under valued when priced in Dollars. Gold needs to go 3× just to get back to the low end of historical norms. Needs to go 5× to 7× to get back to norms.

Gold miners are very under value to recent gold prices but will eventually catch up.


Lots of great information.
Thanks

This should really get the PM prices jumping in a big way. I've read many people talking about 2027 as a critical year for war and conflict.

Just imagine what a cluster-fuck it will be with Harris as Pez. Wars are inherently very inflationary, we may not even be able to get our minds around how bad the inflation will be by then.

Of course, we also know the Elites want war to get everyone distracted from how bad they've made it for everyone. Get ready.

https://www.zerohedge.com/military/us-navy-directed-prepare-war-china-2027

Good Luke Gromen interview with David Lin. He speaks to bigger picture issues at the start of the interview, but at the end speaks about gold and gold miners still being way undervalued. He sees big inflation coming down the road.

Good Luke Gromen interview with David Lin. He speaks to bigger picture issues at the start of the interview, but at the end speaks about gold and gold miners still being way undervalued. He sees big inflation coming down the road.

I'm unsure on how many shares they want to sell in these offerings. We know what they want to give the Underwriters and as far as the private placement goes I suppose it comes down to how many more shares they want to release. So, I see that as an unknown. I don't think they want the blowback from doing another offer unless they absolutely have to.

I hope this is the last one they have to do and I have the feeling it is. Paul told me our deadline for getting the EA submission done is the end of October, so that should happen barring any impending problems. IMO all this action is pointing to that getting done.

If this is $12 million total from both offerings instead of just $7 million then we might be talking about 100 million Units instead of just 50 million units. That would be 200 million shares and 20% of the company. If that is what happened yesterday that is a lot of shares and a lot of interest in First Mining at this point in time.

I'm convinced in my own little brain that the two offerings yesterday is a strong sign that Springpole final environmental permit really will be submitted by the end of October and then Big Gold will start knocking on the door. Maybe more drilling at Duparquet as well.

Like Keith said on the Ron's basement interview management can see the light at the end of the tunnel now. Obviously more work ahead, but Big Gold will buy in long before dirt starts moving. Look at Kinross and Great Bear.

The companies in the mining sector are ALL relatively unknown. The general investing public has absolutely no knowledge of companies like FMG.
The only time we see money coming into this sector is when gold prices spike higher and eventually people realize the PRODUCING miners are really making a shitload of money, then those companies benefit. This sector is feast or famine, mostly famine.

As the cycle begins to mature and play out the money coming into the mining sector broadens out. Moving next into the developers and juniors. That's starting to begin, so most of the attention we should be getting is still in front of us. That rotation out of the broader stock market and into commodities has to also come about.

Most investors don't mess with specific miners because they know nothing about them. They just buy an ETF or index when the sector heats up. If you don't know the companies that probably the wise way to go.

Volume on OTC was less than $500,000 USD. That is not much money. I think all the volume on OTC yesterday was retail investors.

Maybe all the meetings and presentations are getting a few more eyeballs watching. StockTwits board only has 231 people watching.

In spite of the years of work and all the good news, First Mining is barely noticed.

Just let big money start rolling out of Big Tech and start rolling into commodities.

I'm thinking a lot of the action we saw in the share price yesterday was caused by the new offering. Those newly diluted shares we're most likely being issued yesterday. I don't know that for fact, but why not, the news about the offering broke yesterday.

Near the end of the PR it states this: The Bought Deal offer is expected to close on before Sept.26, 2024 and the non-brokered offering is expected to close on or before Oct.10 2024

So, what that tells me is we can expect some weakness in the share price moving forward as the market digests these new shares. As we get closer to those closing dates, I would expect to see some good buy-in prices showing up. It will be interesting to see how low our share price goes.

Yes, I think you're making a good point with most of our shares being held in strong hands. I'm not losing sleep over a hostile takeover because depending on how many potential suitors are in the mix to do a deal or buy us outright we could get into a bidding war and that could move our shares higher very quickly. I hope whoever is in talks with us has the mining background to do this right and not play games by trying to steal something. I think that has much to do with our Management too.

IMO most of the share even on the retail side are looking for much higher returns, I don't see our shares being day traded a lot, most folks are holding for big gains down the road.

Yes, that's it. As I read this PR a time or two it appears to me that this may be the last offering before we finally get some good news on a deal.

I say that only because it looks to me like FMG is ALLOWING these Underwriters to load up on shares before the lift off. That in addition to the private placement. I may be wrong, but that's my take.

I actually thought about this, but I'm not really sure about what the insider trading rules state about insiders participating in a financing round if the company is also negotiating a bigger deal behind the scenes?

Because I cannot see how it would be illegal for a publicly traded company to raise money from insiders even if a deal was in the works. If a company needs money then it has to be allowed to raise money in an offering. What if a deal negotiation took over a year and the company was running short on cash? Should the company go bankrupt simply because it could not accept money from insiders? This really makes no sense at all and I think it is allowed for insiders to participate in financing offerings even when a deal is in the works. Otherwise you could end up in very problematic situations and companies like FFMG could very well fail if they were unable to raise money anywhere else.

Buying stock on the open markets is a different situation all together and of course should be restricted for insiders if they are sitting on information not available to other investors. We STILL have not seen a single insider buy / sell on the registry which again could indicate something is up because that type of insider activity would of course be insider trading.

So here is just another thought that struck me with this latest financing round and lack of insider activity in the last 3-4 months. What if all of the insiders participated heavily (Keith especially) in this latest offering because they knew this would probably be the last time they had any chance of getting more stock before a deal would be announced? The shares were underwritten by the two investment banks who then probably sold lots of shares to their private clients whom most likely also figured out this could be a very good entry point.

Pure speculation of course on my part, but the lack of insider buying / selling is really making me think something is up. Keith has consistently said he will be in the markets buying up stock. So why hasn't he done it in the last months or so? I mean no insider has sold either thank god, which would be a very alarming fact if that were to happen.

It all just feels so weird to me right now with the heavy volume days right up until the latest offering was made public, and now lots of shares traded hands in one day when you look at both exchanges. I just have a feeling something is up and I mean that in a good way. The fact that FFMG is able to raise money so easily every time makes me think somebody knows something here. Yes, we have been issuing a hell of a lot of shares to get where we all today, but Keith seems as calm as ever in every interview I have seen. It's like he just knows we will get these two mines up and running and the end will justify the means so to speak. I sure like his confidence because without Keith behind the scenes I would have not invested. My sole reason for investing from the beginning was to participate in Keith's vision. Time will tell if that turned out to be a wise decision or not, but at least in First Majestic I ended up making a killing.

As far as I can tell it was mostly retail who was selling. The other question is of course who was buying? Usually during bottoms the shares move from weak hands into strong hands so my guess would be the "smart money" so to speak was buying heavily here. I know I would have bought heavily today if I only had the funds available, but right now I don't. Because the only reason anyone would buy at this point of peak negative sentiment would be that they still believe in the company and think the valuation is off. If you really think about this logically then why the hell would any long term bigger shareholder sell now when we are so close to finally achieving the big milestone we all have been waiting for? It would make no sense at all to invest heavily in this company for many years only to sell just before we submit the final EA. It really makes not sense at all, which tells me it was mostly retail investors selling on the news of more financing.

To me it seems Keith & management are now just determined to get this Springpole EA permit done no matter how much it costs. They will issue shares and do financing until we reach that point which is, after all, what they have been trying to achieve since the beginning. Any additional funding will of course also be used to further drill out and scope the Duparquet deposit for the updated PEA.

I think this story will unfold exactly as First Majestic some 20 years ago. I remember very well how all of a sudden the share price skyrocketed in a years time and suddenly everyone seemed completely happy and fine with everything. This was after many years of completely miserable performance where the stock basically went down or was flat and nothing seemed to help the stock. The problem is that you just don't know when it will happen. It is very possible the stock might suddenly catch a bid even without any significant news. We might submit the final EA and maybe nothing happens with the stock, and then maybe a few months after that one day it suddenly rises several fold. It is impossible to predict these things.

Not to sound like a total halfwit, but the action today was just regular retail investors selling and buying shares frontrunning the dilution news release correct? Meaning the insane 7 million (GDXJ volume today was 6.5m, our volume beat GDXJ’s single handed) traded was just regular retail reacting to the news, it wasn’t caused by the parties receiving the newly issued because those shares won’t actually be issued until later this/next month correct?

Just trying to understand the forces and dynamics of stock price movements.

Including nose trimmers had me laughing! EOM

They def should be, at this market cap my day-trading Uncle Sal could lob a competitive offer, LOL.

I just think Keith will need a lot of friendly shares in his back pocket when he is negotiating the best deal.

If a hostile takeover happens the share price will bump up and trigger 50 million more friendly shares from this current offering.

I don't know anything about the negotiating process. But it sounded like Dan and maybe Keith are more concerned now about a hostile takeover.

Good call-out. Btw, I just noticed this is two different offerings for a total of $12 million.

"Bought Deal Offering" for $7 million and
“Non-Brokered Offering” for $5 million.
I don't see how many Units associated with the Non-Brokered Offering.

Am I reading this correctly?


51,852,000 units of the Company (“Units”) at a price of $0.135 per Unit for aggregate gross proceeds of approximately $7 million (the "Bought Deal Offering").  The Underwriters have been granted an option (an "Over-Allotment Option") to purchase up to an additional 15% of the number of Units issuable under the Bought Deal Offering, exercisable in whole or in part, up to 30 days following the closing of the Bought Deal Offering.

In addition, the Company intends to complete a non-brokered private placement of Units (the “Non-Brokered Offering” and together with the Bought Deal Offering, the “Offering”) for gross proceeds of up to $5 million.

Most important thing is for all of us to be as inclusive, compassionate, and even tempered as possible so that we can minimize any accidental flares of hate speech or misogyny, else our iPhones, electric toothbrushes, nose trimmers, electric shavers, portable power banks, laptops, electric vehicles might randomly explode
"There are only 2 genders and men can't get pregn..." Mossad: *click* kaboom

Maybe, but depending on when a deal is announced and the Company has access to money from the deal, would anything make a difference, but we don't know that.

My suspicion is we need the money from the offering and that even though we may be talking to potential deals getting done, nothing's been finalized yet. The company still needs working capital, but I noticed in the PR that two of the companies that cover FMG are big buyers in this offering, so was this offering some sort of pay-off to them? Who knows, but one hand washes the other.
IMO the Company Insiders have all their shares and are loaded for the move higher.

https://firstmininggold.com/news/first-mining-announces-7-million-bought-deal-public-offering-and-non-brokered-private-placement

The first scenario would likely be insider trading.

2nd scenario doesnt make sense either. They could just buy the shares on the open market if they really wanted to prevent a hostile takeover. At least then - they could benefit from the higher share price.

In the end - given the facts we have, it is just more of the same and I have been a long time reader of this forum and finally registered to add my frustration on the overall trajectory/strategy being employed.

I tend to agree with Implanting that we are walking through dilution valley until some event/entity puts us out of our misery - one way or another.

I don't want to see the dilution, but I perceive it as something that has to happen UNTIL we get a deal done. If they can't raise money through share dilution now, the company won't exist. We go broke. I see this dilution as a bridge for the company surviving until we get a deal done. I'm almost desensitized to it now because it's literally gone on for years. As COminer said this has probably been about offer 5 or 6 since Dan said we wouldn't have to do another offering. LOL

IMO nothing short of a much higher gold price, a big pivot into the miners, or more specifically a deal getting done for us is going to change anything for our share price. I only hope this is the last share offering, but it may not be. The cash they're raising gets smaller as our share price falls.

This dilution is almost 10% of the company if the share price hits 20 cents.

That is A LOT of shares.
Maybe it means the "smart people" are buying up cheap shares before the BIG DEAL is announced AFTER the final Environmental Permit document is submitted.

Here is another idea I had.
It
Maybe this current dilution is worth more than just the cash.

Maybe Keith and Dan are trying to "buy" enough friendly shares in this dilution to limit the possibility of a hostile takeover? I don't know. Just another thought I had.

Just a guess.

Hello Implanting
As a large shareholder of AG - I have the full Keith dilution experience. It is good to hear that he has said no reverse split.

The fact that they have done this dilution means there are likely no serious deals in process. You don't go and dilute your shareholders and offer warrants if there is a serious deal in the works - or even a bite. This proves to me that we are still at ground zero with little interest at best. If they had 13m in the bank - they could have delayed and bought more time to make a deal.

So yes - as you indicated...still a long road it seems. This long road I hope doesnt forever traverse dilution valley (highly likely). Soon to be 1.2B+ in shares is getting U.S. debt level absurd. I did see Keith say once that # of outstanding shares doesnt matter to him but I question that logic. FFMGF really could use a share buyback once/if they turn the corner. I inquired on all of these topics to Paul but no response and not expecting one as I asked very direct questions. In the interviews - he came across as a bootlicker and not expecting a response despite my investment which is on par with Tommy but perhaps much smaller than some of you. Maybe some of you can press these questions.

I'll take the full loss before I sell and hope that Dan realizes if he does actually own 10m shares - he has far more to gain not fucking things up with endless dilution. If I were him, I would already have a press release ready to go next week of a major new discovery or positive news that would justify this dilution in unequivocable terms. Also unlikely.

I will be very happy to be wrong in all my assessments of course but I can only go on what I am seeing.

Yep, a lot of selling and maybe some buying too.

I think this last interview Keith did may have been front running this news today. Get the share price up before a big flush down.
Imagine where the share price would be now if we had been trading below .10 before today's news?

Zen, many of us have been complaining about the continued share dilution, unfortunately IMO this is the route Keith has taken. It hasn't stopped and I wouldn't in reality expect it to stop until we obtain some financial freedom by doing a deal that ensures we don't have to dilute going forward. I hate to say it, but even with the assets we have the story here hasn't been believable to a larger audience. I truly think that will change in time with a higher gold price and interest finally coming back into the mining sector. These moves seemingly take forever to happen.

There's no doubt that the massive share count we have has also been a downer for anyone wanting to invest into this Company. When people see the float we have they turn and run. I hope when we finally get a deal done they do as You suggested and start up a share buy back program. That would be fantastic to see when we have the money to do so.

Good things are coming I think, so keep the faith and keep posting. thanks

P.S.: Keith has repeatedly said NO REVERSE STOCK SPLITS. I hope to God he stands by his words on that.

Lots of selling pressure today, over 4.6M shares traded OTC.

I'm with you Implanting, end of Q1 2025 should be the deadline for some "good news" for once. Tired of this crap.

Nsnz33, IMO this is one of your best posts to date on this board. I think I agree with almost everything you said.

It may have been the last time or one before that I asked Paul Harris why the Hell the EA was being pushed back to October. I was under the impression it was an issue stemming from the Canadian gov. side, but Paul told me that October was our DEADLINE to have it submitted. In other words our time was up to get it submitted. Paul didn't know the details, but that certainly struck me as odd. Take from it what you will. Could dragging your feet be a reason? I don't know.

Your cow milking theory is plausible IMO too, but what about this? Dan may already know his time AFTER Springpole gets EA approval and the mine building phase of the journey starts that his time as CEO may be numbered. My geuss is he would either be demoted in some fashion with the Company or let go altogether, so Keith sets him up with his golden parachute. LOL

Whatever they may have cooked up between themselves I could really give a rat's ass. Let's get the ball rolling on our share price before we all die of old age here. The Snake Oil Salesman isn't a very good one for our share price and after all, that's really what matters.

I wrote today and expressed my dissatisfaction with the additional dilution. Not sure it helps but the more shareholders complain about the current trajectory / 'strategy' - perhaps it will have an impact going forward. The last thing we should do though is defend or support what is going on now without real accountability. If Dan is unable to reach certain milestones by expected dates - then someone else needs to take over. This can't be an open-ended lifestyle company for management.

I'm going to be very disappointed if we don't have some sort of deal done giving this Company financial freedom by the end of Q1 2025. If it hasn't happened by then IMO we're either not talking with who we need to be talking to or there are no legit deals on the table.

Dan can talk all he wants about the starter pit at Duparquet, but until we get some money from some source other than share dilution, that I don't see happening.
More rhetoric to get people interested. I want to see some results and nothing's going to happen without money to do it.

EA submission July deadline b.s, no more dilution was b.s, Duparquet open pit b.s

We're in September now, why hasn't the EA been submitted yet?

And one has to speculate that Keith might be using Dan as a lightning rod to avoid being held culpable and is really the one pulling the strings and green lightning the bulk of these decisions. Then on the other hand it's also likely Keith truly did delegate Dan autonomy and discretion and Dan deliberately dragged his feet to ensure the processes take longer than they should so he can keep his post and thus his $500k salary ($300k after taxes using Canada taxes I'm guessing) for Dan's future after this will likely not be as lucrative paywise as what he has got now so naturally he's gonna be incentivized to b.s and milk the cow for every drop. I've witnessed this in companies I've worked for, higher ups hiding under pretenses when in reality they don't care about the company, employees, or doing the right thing, they're just trying to prolong their tenure, squeeze more months/years of paychecks, garnish their resumes, rinse and repeat with the next company. First Mining might very well be Dan's retirement cash cow that he's milking for every drop, afterall the $1 million he's spent on the shares he's purchased is small relative to how much he has made through his salary over what is it now, 5 years of being with FF?

But it's too late now, let's hope they keep finding more gold at Dup and Spring to offset the dilution AND net a gain in asset value and thus market cap. Like Tommy said, getting financing alone isn't easy and so long as it is spent on a healthy ROI oriented basis, it's alright.

We just need sentiment to return, rotation from tech to value to take place. Gold is doing its job, albeit it will likely drop to $2300-2400 in the coming market crash prior to the jew infested and owned federal reserve coming to the rescue with more money printing.

But when is the EA being submitted? We're in September, October now. That snake oil used car salesman said July.

Wow, VERY WELL SAID! Your 100% right on every point you made.
Is there any wonder every time he talks about why our share price is so undervalued that's
a fucking slap in our face. No credibility tends to work that way.

Zen, thank you for your input here. Most of my concerns revolve around some of what you're talking about.

The main one being continued share dilution and why IMO it's so crucial to get a deal done to finally put to rest this continuing dilution. Dilution that I might add Dan said would stop literally years ago. More bullshit on his part because that never came close to happening.

It's clear in my mind that this dilution is going to continue UNTIL a deal is announced and the financial situation with FMG changes dramatically. A deal that makes further share dilution NO LONGER NECCESARY and puts FMG in a place of financial security. The good news, if I'm right, is that process may be going on as we speak. Keith even made the statement in this last interview that Dan was talking to various interested parties. How far are we from getting something done? That's up to speculation, but if they're talking to interested parties IMO that's a good thing.

I know big deals don't get done overnight and if they're speaking to multiple parties my guess is it could get long and drawn out. All shareholders in this Company want to see this Management get the best deal possible for us, because we've damn sure waited long enough to see it happen.

My hope is this is the last share dilution we have to endure before this long wait is finally over. That's my 2 cents.