First Mining Gold Corp (FF) Quote

It all depends on whether I pull at 62, 65 or 67. I am close but not too close. If it goes insolvent in 2032 I would be in a real iffy situation. Hopefully the geniuses in DC figure out a way to extend its solvency, but I don't have much faith in them because they make bad decision after bad decision.

Did you start getting social security as soon as you were eligible or did you wait? Waiting those extra years really adds a significant amount to the monthly payouts.

I guess the old adage applies - you can lead the horse to water but can't make it drink.

Another subject I know You find near and dear to your heart is social security. I don't know when you're eligible to begin drawing, but I hope it's within the next ten years or so. I don't wish old age on anyone, but in this case the sooner the better.

This is what I've been referring to in regard to the severe measures that these over-leveraged countries have in store for themselves and their people. Medicare will most likely be in the same boat. People won't be able to live off these government hand-outs and we'll most likely see MUCH higher inflation when the payouts become smaller. The politicians still haven't addressed this problem yet and if they wait around and let it get worse, IT WILL.

I'm sure Canada is in the same boat. A major cluster fuck on the horizon. LOL

https://finance.yahoo.com/news/social-security-is-headed-down-an-unsustainable-path-strategist-171315865.html

This is the reason gold and silver are moving big today. Higher expectations for a rate cut coming sooner than later.

https://www.zerohedge.com/markets/wall-street-reacts-todays-dovish-cpi-shock-its-time-cut

IMO that would depend on how desperate they are.

What measures might they have to take if they wait too long to address any possible insolvency issues?
Nationalization could be avoidable IF they address their problems and change the path they're on currently. The big question to be answered IS will they do what it takes to avoid the trainwreck? Does anyone in government foresee the problems they're facing now? IMO they should have already been stockpiling gold reserves, but they haven't.

Again, we know the government isn't going to go under, so they'll do what has to be done to stay in power and stay solvent. WHATEVER THAT TAKES.

Seablue, you bring up some good points. For Those with eyes to see, we know a large part of commodity-rich countries are moving away from the dollar. China, Russia, and India are leading the way along with other significant players that understand the U.S. is a waning power. They understand that if they get a new form of payment backed by hard assets and not promises, that it can eventually knock the dollar out as the reserve currency. That's a big deal for them.

These countries know that REAL assets are worth more than a scrap of paper with a promise of payment at SOME FUTURE TIME. The West and those holding mostly dollars see this coming too. The trickle is growing ever larger as time passes on and at some point we may see a flood out of the dollar, as faith in it is lost.

I think Canada may be currently in worse shape financially, than is the U.S. and they hold NO gold reserves to back the loonie. Not good. Will They head off some sort of future financial crisis? Maybe, but I wouldn't bet the farm on it. My guess is that Canada will have to move to austerity measures much like what will come in the U.S. The Welfare State will have to be greatly downsized and people will suffer for it. The free ride for many will come to a slam on your brakes stop and governments will have to tighten their belts to stay solvent.

We know governments will do what they have to do to stay alive, ANYTHING, so nationalizing the mining industry is not off the table, even in Canada, but I hope it doesn't happen and will be avoided. I hope we can see the move higher in our FMG shares before such an event takes place and I wouldn't hesitate to sell out before it comes because it would destroy mining in Canada IMO.

As far as what Canada and the gold miners could do to rebuild Canada's gold reserves? The first thing they need to do is understand they NEED some gold reserves. That would be a great first step.

Do you really think they would nationalize ALL commodities? I can't see that happening. I think Canadians would tell whoever is prime minister to stuff it at that point. However, stranger things have happened and if an authoritarian government clamps down and/or a real dictator assumes power all bets are off.

I did not read your post until after I replied to Implanting's post. Totally agree with everything you said. Makes a lot of sense. Problem is governments don't always do things that make sense. I would really like to see the scenarios you laid out come to pass because they are reasonable solutions to the problem.

Regarding third world countries, I would add Guatemala to the list. I remember a while ago reading about how the government wanted some insane percentage of ownership in mines (can't remember if it was 50% - but it was something like that). Also, the miners had problems with locals protesting the mines. Then there are some counties in South America that have either nationalized or threatened to nationalize. So, as you said, Canadian assets have an enhanced attractiveness in this atmosphere.

I did not see it. Thanks for posting it. You can really see the move away from the dollar when looking at trade between those countries - more and more they are using their own currencies and/or commodities like gold and oil to conduct trade. Meanwhile, the US continues to print fiat like drunken fools and lately no one has been talking about this. Granted, there are more important issues to discuss, but the fiat printing ties into all of those issues.

I would hope someone sensible at the head of a sensible coalition is in charge of Canada when the time comes for Canada to start building up their gold reserves. Hopefully they can work out an arrangement with Canadian gold miners to supply gold to the Canadian government either for payment or some other financial benefit (i.e. - tax offsets). It would make more business sense to do this because everyone gets what they need. Maybe not exactly what they want, but it allows things to progress forward. Good luck with nationalization. Yeah, sure, the mines would still produce but for how long? The drivers of the industry would switch to other metals and/or endeavors.

The US is potentially in the same boat as Canada. With no audit of our gold reserves since the 1950s, do you really think it is all there? If it is all there, do you really think there are not multiple claims upon each ounce? Imagine the reaction if the curtain is drawn back and the emperor is naked - the US has no gold either. You could see the government in that instance stick the miners with some nonsense requiring sales to the government to rebuild the US gold reserves. How would that work out? After seeing how they have "managed" the social security trust fund - on the fast track to insolvency - the federal debt - print Johnny, print! - as well as dozens of other budgetary line items I would venture the guess that government involvement in the gold industry would fail miserably.

What do you see as the best arrangement between the miners and the Canadian government to rebuild Canada's gold reserves?

Firstly, I wouldn't put anything past for what Trudeau would do in Canada. IMO if they finally get rid of him and his regime it will be a big positive for Canada overall. We know the mining sector in Canada is and has thrived under a capitalist system since its inception and that's why to this point it's one of the best jurisdictional areas in the world. That's not the problem for them as I see it.

Canada is too much like the U.S., they depend too heavily on their fiat money system to prop up their governments. As was stated in the article I posted that may be an issue moving forward for ALL these Western countries that think their fiat is what the rest of the world will continue to trade with. I believe we're seeing now a definite shift AWAY from these western fiat currencies and into other alternatives that will be backed by gold, silver, and other commodities. As was stated in the article there may be a point in time where your fiat money WON'T BUY hard assets anymore. You may need to hold physical gold to trade for certain, hard to get, items. The fiat money narrative is finally being seen for what it really is....a ponzi scheme. The balance of power is also shifting from the west to the east, which we're seeing in real time right now, so western fiat money is LESS attractive moving forward IMO.

Even if Trudeau is gone at some point, the problem for Canada may revolve more around insolvency and lack of faith in the fiat Canadian dollar, than who's running the country. The U.S. claims they have a lot of gold reserves, but Canada has nothing and IMO that could be a problem for them down the road.

How this plays out over the next 5-10 years is pure speculation, but we know some sort of reset is coming and these western societies that depend on their fiat money to carry the day are going to have problems navigating these changes going forward. Printing fiat isn't going to be sufficient. That's also I think why we're going to see this next big move higher come in the PM's. People are going to wake up to the fact that fiat dollars are not what everyone wants to hold. They want real, tangible assets.

I agree in large part with what you said, but IMO Canada may not have a choice in some form of nationalization of maybe ALL of the commodites there if the country is insolvent at some point in time. The same may hold true for the U.S.. I'm skeptical they actually hold the gold reserves they claim to have.

Just my two cents regarding nationalization. I think this is a very remote risk in Canada given the already rapidly shifting political sentiment for Trudeau's government. The mining sector goes back hundreds of years and is still a meaningful contributor to GDP / taxes / jobs / etc. It would cause a massive uproar / protests / strikes if that were to happen so it just does not make any political sense to do it and it would be a very inefficient way to solve the problem. The governments of Ontario and Quebec would also definitely challenge any form of nationalization initiative seeing over 70% of the Gold in Canada is produced in those two regions. It would just be a total mess.

If the government would actually go down that route to acquire gold reserves it would be much more prudent for them to keep the sector private and then just demand 100% of the gold to be sold to the government at a specific price, maybe at a slight discount or something similar. That price would more or less have to equal the current market price for gold because otherwise this would bankrupt the entire industry in time, again undermining the entire thing. It's always possible the governments will f things up, but I still consider this a very low probability event.

Or the government could just buy gold outright or make lease arrangements with other countries who do own large gold reserves. Canada produces something like 200 tons of gold per year so it would take many years for the government just to acquire any decent amount of reserves in this scenario, it would just be such a stupid idea.

Outright confiscating mining assets is much more of a risk in third world countries and it always ends up in disaster. We saw what just happened in Panama with the large copper mine and that makes it look very bad for foreign investment. I actually think the nationalization that took place in Panama only makes the assets in Canada / US make look even more attractive. The bigger gold miners need to acquire assets and because its a billion dollar multi decade long investment the question of jurisdiction has never been more important than now. We are sitting on two of the largest undeveloped gold assets in Canada, people still don't understand how rare these assets actually are. It will be recognized soon enough by the majority and a rising gold price.

Canada is still after all a very good jurisdiction, especially Ontario and Quebec where our assets are located are some of the most sought after mining districts on the planet.

Anybody see this article? After I read this article what concerns me even more is what will Canada do to acquire/accumulate more gold? Being that they have none now.

https://www.zerohedge.com/news/2024-07-09/brics-will-use-gold-standard

Congressman Thomas Massie’s Wife Dies

Interview from last month in mid June Tucker Carlson gave to Rep. Thomas Massie where Massie spills the beans that everybody in Congress has an “AIPAC guy” babysitter


2 weeks later on June 27 (2 weeks ago), his wife dies a “sudden mysterious death” and they won’t disclose how

Not too surprising coming from the Trudope crowd.

https://www.zerohedge.com/news/2024-07-08/canadas-climate-change-envoy-racked-over-250000-luxury-travel-expenses

Someone's opinion on what may be coming. More ammo for the move higher in PM's.
These predictions may be on the low end of what actually happens.

https://markets.businessinsider.com/news/stocks/stock-market-crash-prediction-2025-decline-fed-fails-avoid-recession-2024-7

So, if we see what happens in this article come about, the gold price should fly, as the rate cuts come in bunches.

I don't see the Banksters cutting rates by 200 basis points unless there's big problems ahead for the economy or a black swan event shows up. These events will be what turns the corner for the PM's and eventually the mining sector. IMO it's coming.

https://fortune.com/2024/07/07/fed-rate-cuts-outlook-200-points-economy-sharper-slowdown-citi/

IMO the really big move in our shares will come from the time the mining sector in general finally gets some notice. That will only come when the gold price breaks out to a higher level and then it becomes obvious to everyone that gold miners and DEVELOPING gold miners are going to make a lot of money going forward.

I remember back in the 2010-11 gold miner bull market, anything mining related moved up It was a mania and one of the few times that the mining sector went crazy higher. Any of the mining companies moved higher, even the bad ones.

It's a process to get to that point because we need to see the big move higher in the gold price to put the wheels in motion for that later move for the miners. We should see that happen as the Banksters are forced to drop interest rates very soon.

We should be in the sweet spot for that move to happen as Springpole gets permitted and we move forward with Duparquet. Partnership announcements or buyout offers should be news that takes our share price multiples higher, especially if they're timed right. My hope is that MOST of our shareholders are in this for the longer haul and a much higher share price. Having said that even I would sell for the right price, but that would be no less than $2 per share, right NOW, not somewhere way down the road.

It will be interesting to see how high our shares could go in a mania setting, if it gets to that. I want to see that play out. It could actually be worth the wait we've gone through.

Agreed. There are just so many potential catalysts in the near term, both on the macro and micro/company level. At some point this ship will turn and I suspect this could be a very violent turn when it happens. I have been a shareholder in First Mining since 2015 and both in 2016 and 2020 the share price rose something like 3-4X in a matter of a few months simply due to a temporary investor sentiment change. I suspect this time around, when we truly have made the turn, the share price could skyrocket 5-10x in a month or two simply because the stored up energy built up during this massive multiyear bear market is incredible. The only question really is will we get taken over too cheaply before that happens. I pray to God that is not the case after such a long wait. This is a billion dollar company in the making.

If we can get Springpole permitting back by that end of 2025 timeline AND with what additional gold our Team can find at Duparquet by end of next year, we should be positioned to move much higher with our share price in the second half of 2025.

Depending on what the overall economy/markets are doing at that time, FMG should be coming on a lot of radar screens as a "strong buy" mining prospect. It would be my assumption that the Street will front-run our getting Springpole permitted and make it possible our shares move prior to the actual announcement being made.

We'll have to see how it goes, but IMO next year should be the year for us. Add to that mix the potential for lowered interest rates and higher PM prices.

Yes, the mine will get the permit no doubt. It will be a massive driver of infrastructure, roads, jobs and so much more down the road. There could be new schools and hospitals built and anything really if they all can work together here. Like you said the permanent new road network is what the communities want and desperately need. Many communities (not just Cat Lake) have been reliant upon ice roads and air transport for supplies and food, both of which are very inconvenient, costly and also prone to accidents. Also, warmer winters make the ice roads very dangerous to use and not a viable long term solution for the FNs. That is why they need and want the roads so bad. This is where the parties will have to come to the table, agree on a plan and make it happen.
Regarding the timeline after final EA submission, it really depends upon negotiations and what kind of issue they still are going back and forth on with the government, but Steve said in the last "EA webinar" that he expects permits to be granted before the end of 2025. He said this estimate is just from benchmarking Springpole to the similar previous Hardrock project which he also permitted. I believe we are well positioned to receive the EA permit in Q4 2025 / Q1 2026. Lots of things can happen with Duparquet also before that so we are really now in the last phase of this very painful waiting period. Keith is looking after our interests you can be sure about that.

Yeah, I agree 100% with the credibility that Frank Giustra brings to the table for Treasury. He's their Keith Neumeyer and shows investors in that Company they'll be a winner in time. I'll be adding more of those shares when we see blood in the streets, later on.

Like you I wish I could buy more Treasury and First Mining but who knows what the market will do. As we have discussed a lot here, we expect the price to temporarily drop when an overall market downdraft occurs. At that time I will be buying for sure. In the meantime maybe I will just continue doing smaller purchases here and there.

I thought Treasury had a lot going for it before Giustra got involved. Having him involved is great because his general name recognition is high. He also might be able to open some doors for them as well.

Thanks for posting that PR. There's obviously a LOT going on over at Treasury at the moment. A name change and reverse stock split to name just two.

I'm personally not a fan of doing reverse splits, but why they're doing this one may be more in relation to the Black Wolf merger would be my guess. Insiders are buying up some shares, so that's good. I want to add to my holdings in this Company, but without knowing where this market goes in the near future at this point, I'll continue to wait for a better entry point.

I'm still very bullish on where they're going and merger with Black Wolf.

P.S.: The reverse split means that FMG will as Treasury's largest shareholder will have LESS shares after the split.

Treasury changing its name and doing a 1 for 4 reverse split.
https://treasurymetals.com/news/treasury-metals-confirms-closing-of-tranche-2-of-p-2909029/

Yes, I think the article Seablue posted opened my eyes to a REGIONAL roadway structure to be developed going forward, not just for Cat Lake. For the other surrounding communities as well. Apparently, those indigenous communities want to be connected by road instead of by boat or canoe. Maybe there are a few float planes available to them, but driving it is a lot more convenient.

They know the only way this is going to happen is to build the mine and step into the 21st century. The federal and provincial governments WILL make it happen because it generates, as you said, a lot of taxes and jobs.

I also noticed that whoever wrote the article noted it may take a YEAR AND A HALF after the EA is submitted to get approval. Let's hope that's wrong.

As always, thanks for your detailed thoughts. I really appreciate you and several other posters on this board.

Just from the government tax perspective, the road is easily justified - more taxes from FF, more taxes from the employees, more taxes from directly related businesses (i.e. - fabrication, equipment maintenance, engineering and other services) and peripheral businesses (i.e. - gas stations and convenience stores if any, an auto shop or two for worker car maintenance/repair, etc.). If new businesses are not created the existing businesses will certainly pick up more business.

For me there was nothing new here since I watch and read pretty much everything about the company, but the key passage I believe is the following:

Beyond just delivering mining jobs to locals, he said planning all the mine-related infrastructure involves designing a permanent road that will connect Cat Lake to Sioux Lookout, a regional administrative hub for many remote Indigenous communities.

He said there are sections of existing roads, “in terrible shape,” with no evidence of maintenance, that are used by neighboring Slate Falls First Nation.

First Mining CEO Dan Wilton added, based on feedback from a recent community meeting in Cat Lake, construction of a permanent road continues to be a local priority. The company is supportive of this infrastructure and hopes the provincial and federal governments can make that a reality.

My own theory (also confirmed by Dan and Steve) is that Cat Lake is not at all against Springpole, but they really want that permanent road developed. I think what investors should notice here is that the ministry was the one issuing the permit for the temporary winter road and also evidently was the party who offered a settlement agreement to Cat Lake which they then accepted. This tells me that the government of Ontario still has a very big interest in getting this mine developed i.e. the EA permit will be issued to the project no doubt. If Cat Lake really was hellbent against this whole mine being developed then I think they would have made that very clear already, but they have not. They have very specifically said they are not at all against development, they just want to be included in the EA process and benefit from the road and better infrastructure.

First Mining and Cat Lake seem to be having very good dialogue right now according to Steve and I think this is very important. You just can't ignore this community in this current phase, it will just lead to more litigation if they don't include them in the process. We need all of the three parties working together with clear goals and benefits. First Mining and it's investors will get the mine, Cat Lake and other FNs will get the infrastructure and jobs, and the government will get massive tax revenues. It really is a win/win/win situation when they all partner up and this is where we are heading no doubt.

Like Steve said in the recent EA webinar, there really is nothing unique about Springpole. Every issue this project is facing has been resolved before in other mining projects of much bigger scope. The environmental impact of Springpole really is not that big and there is a lot of good previous work which they can utilize here in the final EA. He made the point though about doing this thing RIGHT. That means that they take their time to make sure they have addressed every single detail which the government and Cat Lake have raised about the project. You just can't halfass this EA process in anyway and that is why it sometimes takes longer than investors think.

The road issue is a resolved issue, but the article provides one or two items I had not heard before or don't remember anyone saying.
https://www.northernontariobusiness.com/industry-news/mining/northwest-mine-developer-settles-dispute-with-first-nation-neighbour-9117933

Wasn't a small starter pit also mentioned as a possibility at one point in addition to the tailings?

Welcome back, Seablue. Your input here is always appreciated.

The Company had another webinar while you were away with James Maxwell and his coworker speaking to the latest gold found at Duparquet and big potential for more gold to be found there. I believe Dan made the comment on the call that Duparquet had the makings of a 10 million oz. deposit.

Let's HOPE he's not blowing smoke and knows what he's talking about. Anyway, it seemed upbeat from that side of things. Dan said that most of our money will be going toward drilling at Duparquet, which is probably the right move.

I wasn't as optimistic about his talk about getting some revenue going at Duparquet by actually mining for gold or processing some of the old tailings there. He said they're still working on a gameplan about how they want to move forward with Duparquet and IMO the chances of mining there anytime soon are low. If I talk to Paul in the near future, I'll pump him for more information and share it here.

Been out of town for a few weeks and just catching up. Interesting posts. The latest hype over AI does seem to rhyme a little with the tech craze and crypto craze, though as you both pointed out maybe not to the same level. At least there is a little behind it unlike NFTs and some of the earlier tech companies in the late 90s / early 2000s that were mostly or completely hype.

I did not get to see the video(s) you were talking about, but it sounds like more of the same lately as far as Duparquet and Springpole. We'll probably drift lower or go down a lot if a crash occurs, but we are just in a holding pattern waiting for the news both of you talked about. That is ok because if you average down you might be able to significantly lower your average price per share.

I was only able to see the coverage of debate on foreign TV. Of course, American politics are just absolutely embarrassing at this point and quite a laugh for those not in the US.

On the Canadian front, I hope whoever assumes control after Trudeau is more realistic and more friendly to the Canadian mining industry, not to mention the Canadian people in general.

I would equate the AI mania to the internet stock mania we saw back in 2000. Both are and were seen as new revolutionary technologies. Anything AI related is spiking higher just like anything internet related did in 2000. They were both manias and got WAY ahead of themselves. Of course, that's the perfect narrative for Wall St. to get behind to run the markets higher and sucker in all the retail lemmings before it crashes and burns. I think that's coming.

The AI trade will fade with a few big winners and a lot of losers, just like what happened with the internet stock mania. Without knowing all of the applications of what AI is bringing to the table, I'm not as confident it will be as positively impactful as the internet has been for the world. We'll see, I guess.

IMO the gold price and the miners will fall when we see this next recession/down turn happen, but they will rebound before the rest of the market does.That's what history tells us will happen. Gold might have to take a bigger role in the current monetary system to change that history moving forward.

FFMGF should be in a good place moving forward, my hope is we see some significant deals getting done in the next 12 months or so.

Yup, that's sort of what I see happening here. The Mag 7 bubble must deflate before investor sentiment will shift. It must become absolutely clear to everyone that the "AI trade" is over. We will probably need a big crash big enough to scare all the retail speculators as well because they are still trying to swing trade everything tech related. It will probably also take a recession and dropping corporate profits to start this crash for real.

I think I read a while ago that bigger investors (hedge funds / pension funds/ family offices) are already dumping tech stocks on a net basis so the retail investors will once again be left holding the bag.

After this bubble has deflated the "big money" will look for a new trade and that is when gold / silver / commodities / oil will really start to shine. Then you will get all of the "performance chasers" coming into the trade as well and that is when we will see the big sentiment shift I am envisioning. This is exactly how it played out after the tech bust back in the early 2000's, I remember that very well. Whether the gold miners will make new lows before that is to be seen because I think the sector is much more beaten down now than it was back then, it has been an absolutely brutal bear market in miners the last 5 years or so. If we get a real bank panic / liquidity crush then for sure everything will probably drop until the Fed comes to the rescue, but if we just get a bad recession then I think miners could start to outperform a lot faster than people think. Either way, I think we are still perfectly positioned here with FFMG if and when this shift occurs. Exciting times!

If we speak to the sentiment concerning gold/silver internationally IMO we need to speak to PHYSICAL gold/silver accumulation as opposed to buying mining stocks.

I was listening to a pundit the other day speaking to the East (China, India, etc.) accumulating record amounts of physical gold, which they deem as real money and protection against fiat debasement, when in the West currently this is NOT the case. The West still in large part believes in the fiat dollar and not in physical PM's. We know that sentiment is now slowly changing in the West and more individuals are accumulating physical gold and silver for protection.

The pundit was making the case that the East is NOT accumulating mining shares YET, they buy physical metals. The West will pile into mining shares as the balance sheets of the gold miners begin to explode higher and it becomes clear that this is the emerging bull market in gold, silver, and commodities. We are moving into that phase of the gold move now. The institutional buyers will be dumping their high flying stocks and move into more defensive areas. That should benefit the miners as the gold price moves higher down the road. What the gold price has to get to before people wake up and see that the miners are making a fortune is IMO probably somewhere closer to $3K gold than where we are now.

I think the rotation out of the market sectors like tech are going to deflate and take the rest of the market down with it. That should begin the move into other sectors of the market, like the miners. This won't happen overnight, but should take place in the not-too-distant future, preceded by interest rate cuts by the Banksters that we know will be gold positive. I expect at minimum a recession that will have them scrambling to drop rates quickly at some point.

When the market drop comes will be when you want to accumulate the mining shares you like. JMO

They have two big problems with any mining going on at Duparquet currently.

The first issue is they don't have the money to mine, that's why someone WITH the money has to step up. Secondly, what's the status of the permitting to even mine at Duparquet? We don't know. These big issues are unanswered and IMO Dan doesn't seem to be in a hurry to begin mining Duparquet. He's still doing his homework and most likely will begin to downplay a starter pit moving forward. My personal feeling is he began talking about doing a starter pit in an attempt to get some excitement stirred up, when in reality mining at Duparquet is most likely still years away.

My specific hope was that the old tailings had enough gold in them to be profitable, if milled, but according to what he said on the webinar that's not the case.

I don't think our share price has bottomed and we all may be shocked at how low it actually goes. Time will tell.

You are right here in that we won't probably see any actual cash flow from Duparquet for a while, even if they were to develop the starter pit. The important thing would be to just get an announcement that they have a solid plan in place to get that asset into production with a partner, the market would then discount that news release by all logic into the share price.

I think the additional drilling is the right thing to do here in the sense that I agree the more ounces they can show at Duparquet the more meaningful the asset becomes. And they have been able to show with the recent drill results this resource will definitely be among the largest in the region. The bigger companies are definitely not interested in smaller projects right now and even though they are making record free cash flows they are still conservative in their acquisitions. The bigger projects are the ones to get acquired first and if Duparquet really becomes a 10m+ ounce asset with the recent drilling then there is no way this has not been noticed by the industry. I don't think most investors realize how rare assets of this kind are, especially in good jurisdictions. The Greenstone hardrock project interest was recently acquired for 1.36B (CAD) so that sets some reference to what these kinds of projects will be acquired for. That deposit was a 5.5m ounce asset so keep that in mind when thinking about what Springpole and Duparquet (a potential 10m+ oz asset) will be acquired for when developed.

This is nothing but a waiting game at this point, it's boring as hell in terms of share price action but important things are happening not only in the company but the sector as well. What the eventual spark will be nobody knows. I suspect it will be a combination of things that gets the party going the most important of which will be higher highs in the gold price and increasing investor sentiment.

People often forget that when we talk about "sentiment" in general we refer to the Western world. Gold is very much in demand right now all over Asia (esp. China) and also in many developing countries. It's just that the G7 economies and their "financial capital" move the markets more than anything else, so we need to get them onboard the "gold train" once again.

I still think we are going to need a big crash in the "Mag 7" stocks and all of their ilk before the bigger capital starts to seek new avenues for investment. A sort of tech bust 2.0 is how I see this playing out which will then cause the Fed to panic and lower rates and start big QE programs once more which will lead to a massive devaluation in the USD. The USD will not become worthless by any means but it will just go down in value vs other currencies and gold in particular.

If You watched the latest company webinar with James Maxwell on it, then you might recognize much of what Dan said in the video you posted is similar.

I asked the question on the webinar about beginning a "starter pit" at Duparquet, along with trucking the old tailings somewhere to be milled. I heard Dan say the tailings there DIDN'T contain enough gold to truck somewhere for milling. His answer told me that just the old tailings alone weren't enough to mill to make the process profitable. That's a problem and would indicate to me they would have to dig up ore to add to a tailings mix possibly to make it worth trucking somewhere. Dan didn't say that, but he did say that just the tailings, weren't enough, so if we have to actually mine for ore, that requires additional capital and most likely additional permitting to do. How long will that take?

I don't disagree with your premise that actually mining and producing gold at Duparquet would be a huge shot in the arm for us and that is MUCH more likely to happen at Duparquet before it does at Springpole. Having said that I don't see any gold being mined at Duparquet before we get a partner that can infuse some money into the proceedings. Simply because FMG doesn't have the cash to do it, plain and simple. How First Majestic could play a part is unclear, but I wouldn't rule them out either.

Dan said it on this video, we're going to continue to drill at Duparquet in the hopes of finding other intercepts there (and I'm sure they will), but in the meantime they're probably looking at a bigger picture outlook for the mine and could be talking to potential partners behind closed doors, but as far as any gold mining going on PRIOR to a partnership of some sort being announced, I think is very improbable.

Just my 2 cents.

P.S.: I also asked the question on the webinar about HOW LONG it would take to get the permitting to begin to mine at Duparquet and unfortunately, they didn't answer that question.

New interview from Ron's basement with Dan. Nothing new in particular but he is still saying we will soon get a sort of "step by step" development plan for Duparquet. I am still of the opinion that Duparquet will be the project that will first get a partnership announcement simply because it will probably be seen as less risky with more favorable optionality for developing the asset. I truly hope we will get a partner here so we can start developing this asset by first trucking and processing tailings and then slowly but surely increasing the operation every year. This is THE CATALYST this company would need right now. Even if we get the final EA submission done in September (which is indeed a big deal) I still think the reaction in the share price will be mute as long as the sentiment continues to be bad.

More countries are repatriating their gold held abroad, even countries like Nigeria. I can't say as I blame them. I wouldn't trust anyone to hold my personal stash, why should these countries be any different?

They better get it while the gettin's good. The day may come when they can't get it.

https://www.zerohedge.com/economics/even-nigeria-plans-bring-gold-reserves-home-minimize-risk

Looks like the physical gold buying is not limited to China and India in the east.
Vietnam and Thailand are joining into the frenzy.

https://www.scmp.com/week-asia/economics/article/3268637/gold-buying-frenzy-grips-vietnam-and-thailand-economic-fears-mount

Charles Nenner on his "cycles" research. He talks about where gold is going along with other things.
He's calling for the second great depression to begin in 2026-27 time period.

https://www.zerohedge.com/geopolitical/war-cycle-turns-economic-cycle-plunges-charles-nenner-warns-very-hard-times-are-coming

The case for owning physical gold and silver.

https://vblgoldfix.substack.com/p/commentary-why-mmt-and-cbdc-are-dangerous

Here's the webinar link from the other day.

https://firstmininggold.com/investors/media/

Unfortunately for FMG shareholders Dan's idea of "unlocking value" means a lower share price for us.

That BS about unlocking value is a slap in the face to me.

Breaking News: First Mining Files ESG Report
"First Mining continues to unlock value with this major milestone" said Dan Wilton CEO of First Mining. "But I dunno why them shares are so low he he.. okay gotta go back to wacking it..I MEAN UNLOCKING VALUE!!!" concluded Dan.

You said...."I think Dan's guidance over the course of his tenure borders on deceit." I would agree with you there. IMO he has certainly been misleading to shareholders at least and as I said before always over promises and under delivers.

I do believe there is some larger, more grandioso, gameplan that Keith has in store for FMG that we as shareholders aren't privvy to yet. We've been waiting since the inception of the Company to find out just exactly what that is. That factor in itself is very frustrating for the retail shareholders looking to finally get their holdings above water. When all the shares price can do is continue to fall.

At .09 a share one would think our Management would be very concerned about getting the share price up some from here? Dan certainly doesn't seem to be too worried. LOL

Tommy, we hear some version of this sermon every single year. Even though you aren't wrong, the company still has a fiduciary duty to its owners. Doesn't matter how many shares Keith or Dan personally own. They chose to sell some of this company to the public and that comes with responsibilities. I think Dan's "guidance" over the course of his tenure borders on deceit.

I remember years ago I posted Rick Rule's personal ranking of my portfolio (remember when he used to do that) and he gave First Mining a "D" rating. One of his reason was "mission creep". Gotta give the guy some credit for being prescient.

Let's be honest, Keith is not playing some 3D chess game that we don't understand. He certainly has a huge vested interest in making this company successful, but thus far he (and many other mining execs) have failed miserably.

I don't care how little I mean to Keith, I want him to do better. Starting now!

You guys need to understand that Keith is the real force behind everything here. This is his "darling company" which he built from scratch. This means (in my honest opinion) that he could not care less if retail investors don't have the patience to wait this thing out or not. He has stated many times he is a very long term investor and that is how he views his investment in FFMG as well. If smaller retail investors get angry and sell their stock during the development phase then it really does not mean anything to him. He keeps buying shares more or less every month and the company is raising money from Keith and his group of people on quite a regular basis. I understand it has been mostly his circle of friends and other company insiders that participate in the private placements which means small retail investors are completely irrelevant in the bigger picture when it comes to financing this company. As long as this company can raise money from the PPs and keep moving the projects forward (as they have done) then Keith just sits back and let's management do their job. When you are a multi millionaire like Keith it is much more easier to be patient and have a long term view of this story. When you are a small retail investor then I understand it is very easy to get frustrated because you are envisioning your 5-10x to happen every year yet it does not materialize. I have been trough this "waiting phase" myself back when I was an early investor in First Majestic Silver so I know what we are going through, but I must admit it has been difficult at times because I have a very large position in this company.

Of course, this reality also puts Dan into a quite an uncomfortable position as a CEO because he has to keep on trying to convince the smaller retail investor base to keep believing in the story although he knows very well this thing is in reality being financed by a small circle of people/insiders as well as monetizing the other smaller assets and royalties. This is also why I think Keith likes Dan to be the CEO because Dan definitely has a big personal commitment to the company in the form of 10m shares (all mostly bought through PPs) and also believes in what they are trying to achieve. He has also assembled a good team that has the goods to take this company to the permit finish line. That is really all we need as investors as well. The payout in this investment will really only come when we get a major development going and good sentiment returning to the sector.

Sure, you can of course argue that it would have been very prudent to get the share price up so that previous financing rounds could have been done with a much higher share price and prevent unnecessary issuance of shares. But since the entire sector has literally been "dead" for many years then I think Keith & Dan has just decided it to be more important to raise whatever money they can and just keep on moving the projects forward. I really don't think there is much Dan or any other CEO could have done differently to make the share price go up when the entire sector is under water. Even the best gold mining development companies have had their shares pounded very bad and I really think FFMG is among the best you can place your money in right now.

If you really believe in this story then there is really nothing else you can do other than to keep accumulating shares on a regular basis (just like Keith) and wait this thing out. If you don't have the patience then you are free to sell your stock and invest your money somewhere else. This is why I mostly tell newer investors to avoid the mining sector entirely because it is a very different game. It is probably the toughest industry on the planet and the risks are very material.

Having said that, I can also tell you that the gains that are possible to make in this sector are truly spectacular once you hit a "jackpot" and sentiment turns. I made a incredible amount of money with First Majestic some 15-20 years ago but it took several ups and downs to get there. I see the exact thing happening once again with FFMG and that is why I have invested a significant amount into this company. If this entire thing ends up failing then I can live with that and I won't go broke, actually far from it.

Here's Peter Schiff on Liz Claman's show from Fox biz yesterday. He's talking about higher inflation coming because the Fed can't get rates where they currently are, but lowered rates will fuel MORE inflation going forward. Not good. Shit storm warning ahead....

My best guess about why Keith hired Dan five years ago now is Dan supposedly has a background in finance and M&A. I suppose those are good areas of expertise to have as a mine developer. He's done rather poorly in both those endeavors up until now and he's not doing worth a damn with our share price either.

I think Dan's biggest problem is his credibility. I think Dan's got the smarts and he's a likeable enough person, but I get the feeling he's not trusted or believed in the industry. Maybe too corporate and not enough real mining chops. Keith's stuck with him because it's too late now to change horses.

That's just my read.