First Mining Gold Corp (FF) Quote

Good Gareth Soloway interview.

I have kind of mixed feelings about Dan as a CEO. One one hand it is of course clear that the share price has done nothing but gone down under his leadership. But how much can we really blame Dan for this? We have had a absolutely terrible sentiment in the entire mining sector. Just look at all of the gold mining shares from juniors all the way to the bigger players. They are all suffering from the same negative sentiment. The fact still is is that FFMG has managed to advance the projects exactly as they have been promising. Yes, it has taken longer than originally thought, but they have still been able to push forward during a time when many other juniors/developers have gone bust. FFMG has a lot of retail investors who are impatient and many do not understand that these things really take YEARS to develop and most of them fail, mind you. This is a very risky business by nature. That should be clear.

I think Dan is the right guy because he has a big personal stake in the company and he obviously believes in the vision they are trying to achieve here. He told me in a personal call that he has a significant portion of his family's net worth invested in this company so at least the dude is definitely aligned with us as shareholders. Would he really gamble his entire family fortune on a long shot? Also, I think Dan's strength might actually be that he comes across more as a "Soft & Friendly CEO" rather than a "Cut-Your-Throat Ruthless Mining CEO". This is especially important right now when we find ourselves in a situation where they need to deal with the people at Cat Lake with lots of emotions involved. There is always politics involved in mining affairs and I really think Dan's (and Steve's) personality will be an asset when dealing with the Cat Lake situation and negotiations with other First Nations down the line. I can almost guarantee that if you had a total jerk as a CEO in FFMG who could not care less about the First Nations we would face even more resistance and there could be lots of litigations down the line.

I think Keith is more of the classical "ruthless businessman" type of CEO and I am most certain he would have fired Dan already if he did not think the guy was the one to pull this off. This company is still Keith's darling and he has over 30m shares in the company, almost all of which have been bought in the open market. Keith has basically stated in every single interview that nothing has changed regarding the plans for FFMG. They will keep pushing until they get the permits done and then they will look for a partner to develop the mine or even do it themselves. I don't know how this story will end but my money is on Keith here definitely. Without him as a major shareholder, I would have never invested in FFMG. He is the biggest asset in the company. Keep in mind he probably talks with Dan almost every day about company issues, so in a sense you could say that Keith is sort of a "shadow CEO" behind the scenes. In many interviews you can very clearly see the dynamic between Dan & Keith and it is clear that Keith often tells Dan what to do behind the scenes.

I can only tell from my own experience in investing in miners that things seldom go as you think they will. Mining is probably the toughest industry on the planet and there are so many factors and surprises you need to be dealing with as a CEO. It just takes a lot of perseverance and focus to be able to pull off what FFMG is trying to do.

I'm not sure that Dan was ever mining company CEO material. His background was in financing mines, NOT running operations for a start up miner. My guess would be there were better candidates for that position. I don't know what the attraction was for Keith to hire him, unless Keith thought he was the best candidate available at the time.

My thought would have been to try and hire someone who has mine building expertise. Someone with experience in that area and a few connections in the industry. Dan didn't have any dealings with either of those things.  I don't see him as incompetent, as much as I do unqualified for the position. He's obviously gotten a lot of experience since he came onboard here, but I think Keith could have done better. It is what it is.

I haven't heard back from Paul since last week when I raised Hell about the fucked-up webinar. I asked him if others were left out of the webinar, but he didn't say. There were at least a FEW that got on the call because there were a couple of questions asked during the Q&A, but no really hard questions were addressed. I'll post anything I find out from Paul if I talk to him on the phone later this week.

Dan isn’t totally incompetent, but simply not cutthroat enough and too passive for this field. Book smarts vs street smarts? I dunno. I hope I’m wrong.

Did you get a response about why the webinar was down? What’s unknown is whether or not they suspected something might be off after seeing what must’ve been a low attendance rate. If you’ve got the long awaited and requested Steve Lines on a rare webinar and there are 5 attendees, shouldn’t that raise a red flag that maybe something might be off with the webinar web software? My guess is it crossed their minds but they welcomed it as a pleasant surprise because it gave them a plausible “we didn’t know!” alibi to get off scotch free on answering hardball questions from guys like Implant who would’ve held their feet to the fire. Kinda like when Biden or Jerome Powell get asked a curated series of questions with pre-determined scripts to maintain narrative.
Very annoying, and why the heck aren’t they using GoToWebinar or Cisco Webex. If they can afford to pay Dan $500,000 a year they can surely afford a single Cisco Webex session or a go to webinar subscription.

Even used car salesmen don't have a laugh like Dan Wilton does. I'm curious to know if Keith hired him before he heard his laugh?

Keith can't be accused of having a great track record when it comes to hiring the right Guy to run this company. Maybe when this thing finally turns around with a higher share price, Keith will be able to bring in somebody that really knows what's going on in this business OR if they partner with a bigger fish they'll have a deep executive bench that's in the know and has the connections. Hope springs eternal...

Been sayin it for years, I know a used car salesman type when I see one. I think deep down Keith regrets putting Dan in as the front point man. But sentiment is also awful so that force is there too

Well, we can see the market reaction today for this really good news. Our shares to this point in the day are down. Oh, well what else is new.

I don't know if you recall a few years back Dan made the promise that they were going to do one last big offering and then they would have enough money to get us to the finish line with Springpole. We've had at least 3, maybe 4 more offerings since Dan made that claim and IMO that's a big issue for
Dan's credibility. The Springpole permitting is yet another hit for his credibility. That's not been accurate either. In his defense the landscape has changed for the better with our getting the balance of the Duparquet stake.

Without having much insight into the inner workings of the mining industry, my guess is Dan's reputation in the industry isn't exactly stellar, but to your point there is a following for this Company because of Keith, not Dan. We know that as fact.

IMO getting some sort of revenue stream going at Duparquet is critical going forward for FFMGF, mainly because as the share price continues falling they have to sell a greater quantity of shares to raise money. That means higher share dilution and unhappy shareholders OR potential investors unwilling to sink money into a company with the share float this one has.

This is the situation we currently face, now something can come along to change that dynamic very quickly, A partnership, buyout offers, something unknown by us right now. That's why I'll continue to add shares on weakness, just because I know this company has the potential that isn't being realized at the moment. Sentiment in the sector is not good and only is temporarily at any point in time, but even very good news, like we got today, isn't rewarded. I'm not sure what that says for this Management, especially Dan.

Good news, thanks for sharing! EOM

Sentiment is still in the toilet so as I suspected there is not much of a reaction in the share price. But this was definitely good news and shows they are able to drill good holes with the money raised. This is exactly the kind of news big players are looking at. They want to know this resource is able to sustain itself for a long time with additional drilling.

You are correct in that it would be a massive catalyst if Dan laid out plans to for the starter pit operation with or without a partner because that would basically turn the company into a miner. A small one sure but still a miner with real revenues. If I recall correctly Dan said a month or so ago that the regional mining plans for Duparquet should be out in 3-4 months or so, so I guess we should hear about this before the end of summer.

I think we are definitely still on the right path here. People should not get too upset about the recent financing and newly issued shares. The important thing to keep in mind here is that the company is still able to raise good money from the market during a time when most other juniors/developers are basically going broke as we speak. I am following the other similar companies like like FFMG and many have already gone bust due to no funding available. The fact that FFMG is able to raise money every time they need it just shows they have a committed shareholder base which is also personally backed by Keith. This is incredibly important going forward during a time like this in the mining sector.

Just stay patient and keep adding if you can. Every day is a day closer to something big.

Yes, those are nice drill results. What may be most important from these results is that they were from areas at Duparquet that weren't previously explored. This is new ground they're finding this gold on, and it looks very promising for further resource gains.

I would agree that this asset is more promising in the near term, than is Springpole and should be the focus for Dan to move forward asap. He needs to bring shareholders up to speed on what's being done with a starter pit and permitting to get some revenue going from Duparquet.

If they plan to partner with someone, that's their choice to make, but IMO if they can get a revenue stream going there in a reasonable amount of time, we can keep Duparquet for ourselves and may not need to partner with anyone else.

Let's see if Dan can get this done.

P.S.: It will be interesting to see how our share price reacts to this news today.

Very nice drilling results just put out for Duparquet!

https://firstmininggold.com/news/first-mining-identifies-multiple-high-grade-gold-zones-in-duparquet-exploration-drilling-

Drill hole DUP24-024 returns multiple gold zones including 10.67 g/t Au over 5.3 m, 6.63 g/t Au over 9.0 m, 3.04 g/t Au over 33.5 m, and 5.97 g/t Au over 33.0 m
Gold zones hosted in newly identified mafic volcanic units not previously modelled at Duparquet
Demonstrates significant exploration growth potential at one of the largest gold deposits in the Abitibi Greenstone Belt

That 5.97g/t over 33m is especially nice, but the other drill holes are also good.

I am now almost 100% confident that Duparquet will be the asset that gets a partnership first. If they can get that smaller starter pit operation going there then this has the potential to grow into a monster asset. This is 100% a 10m+ ounce asset with these recent drill results.

Sadly, some ballparks do not accept cash at all - for anything. Not for beer, not for food and you need the MLB Ballpark app for tickets (no more paper tickets).

It wasn't too long ago when you got the discount for paying in cash, now I guess that narrative has flipped. Probably the trend of the future as cash is eliminated and becomes a thing of the past.

https://www.zerohedge.com/economics/its-just-not-right-cashless-venues-now-punishing-people-using-cash

My concern is NOT in getting federal or provincial approval for Springpole, IMO Steve Lines and his people are more than capable of getting that done.

Paul told me in past conversations that getting government approval was enough to authorize the mine being built. I never heard Steve or Dan ever say that in the webinar. The drift I got from Steve was that we needed their approval. Paul told me we wanted their approval, but DIDN'T HAVE TO HAVE IT.

If we got their blessing that would make the situation easier and less conflicted. So, what's the truth? It would have been nice to hear Steve Lines say it himself. I wanted to pose that question, but couldn't because of the screwed-up webinar.

I still think this is all involved in negotiations from Cat Lake to FMG and most likely the Canadian/Ontario governments as to what the Natives can squeeze out of them. My guess is the study the Chief is conducting, that we're paying for, is to extract more favors and money from us in the end.

The Natives would be total fools not to allow the mine to proceed, but they can damn sure hold it up if there's no sense of urgency on their part for it to move forward faster. In other words, how quickly do they want that road built to Cat Lake? They make that call, after the government approvals are given.
Will they comply and fall into place or will they play hardball? My guess is that depends on what they have to gain in the end.

I'm going to attempt to talk to Paul again this week and see if his tune has changed. As far as our stock price goes, IMO we're getting ZERO credit for anything we're currently doing. Even with Keith's involvement in FMG, no one is betting what we're doing is credible. IMO Dan is a big reason for that.

I got some time to listen to the whole thing. Like you, I thought there was a lot of the same information, but I am still of the thought they are going to have few governmental roadblocks due to the amount of work that has been done. Cat Lake will be an issue, but it is doubtful that the project will not proceed just on that issue. It does concern me that the market still prices the stock as if FF will not get it done.

Let's hope and pray this is where Trudope is headed.

https://www.zerohedge.com/economics/macron-has-gambled-and-lost

After watching the Steve Lines biography from the other day, I didn't really hear anything new, with the exception of the dates for completion of the permitting being pushed back again. The submission of the final EA is end of Summer now and Lines gave a sixteen-month ballpark number on final approval being made by the Feds. Dan kept claiming it would be a year. That could move this back to late 2025, most likely 2026 sometime. Dan has always been wrong and misleading to us about when this all would get done.

The bigger question that AGAIN has never been addressed by Steve or Dan is can the mine be built without the approval of say Cat Lake? Lines said at one point in the video that the ball was in the indigenous people's court to get it all done, so that implies to me that they have a lot of say in getting Springpolel approval across the finish line. He spoke about getting the indigenous folks he worked with around Hardrock to meet with the tribe at Cat Lake I suppose to convince them about how good it all will be if they approve the mine being built. I'm only guessing, but if FMG gets federal and provincial approval through, then Cat Lake almost is forced to give their approval also, because at the end of the day they stand to benefit the most from a mine being built. Steve alluded to that without coming out and saying it.

This crap with the natives is all just a big negotiations ploy IMO. They want to squeeze as much as they can out of the mining companies as they can, plain and simple. I can't blame them for that.

They talked about the Street not giving us credit for what's being done and as usual Dan doesn't know why. To me it's quite obvious, the Street is still skeptical about it getting done. That's why our shares are down here. They wasn't a damn thing they talked about on the webinar that I thought gave a valid reason to buy into this company. That's why very few are.

Couldn’t have said it better myself. When the Cabal is washed out, that’s when we move.

The really big catalyst for ALL of the mining sector is a much higher gold price that only comes from an eventual sell off in the overall stock market. We know what happens for the miners when that happens. This isn't rocket science.

Keith and Dan have to execute the game plan, that seemingly takes forever to unfold. I've been in this thing now for eight years too and it seems like it's been a 100 years.

My biggest mistake here was buying shares in this Company way, way, too soon.

I assume doing webinars for the mining industry is ONLY part of their business. They also attempt to recruit shareholders for these small mining concerns, .and Paul to some degree was trying to defend them for the "other good" things they do. Job One for them should be running a good, clean, webinar.

I could care less about what their side hustles are if they can't run a webinar correctly, then they have a problem. I assume these webinars don't run themselves and have to be checked or trouble-shot prior to taking place. That obviously wasn't done yesterday.

Enough about them, that's Paul's problem going forward.

I listened to the webcast and I think Steve did a very good job explaining the current situation and also what the milestones are before we get to the EA finish line. Also, I'm not just saying this on their behalf, I have a very large position in this company and have been an early investor since 2016 so I have every bit of interest to see them do their job well. I was an early investor in First Majestic as well and although that company operates in Mexico the fact of the matter is that mining is a very difficult business everywhere in the world, and you need to be very patient if you decide to invest in these types of developers. I did end up making close to 20x on my FM investment but it took several years of pain, misery and roller coaster rides in the share price to get to that point. It's just the nature of the mining sector. I still have full confidence in Keith, Dan and Steve to get us where we need to be with these assets to get this whole thing monetized. This mine is obviously on the radar for the majors because there just won't be many more big projects coming in in the years to come. I am also starting to think that Duparquet might actually be the real monster asset here in the end, although Springpole definitely is also one of largest undeveloped projects in the world to get permitted. I recommend you go listen to the latest interview from Ron's basement (youtube) with Dan because he did bring up some quite interesting facts about the situation in Duparquet. That asset really has the potential to become something VERY BIG, and this is exactly what the majors are looking for right now. They want assets that not only have a well defined resource but also the potential to grow it out over time. Having said all of this, nothing will change in the share price before we get some major company specific news + sentiment improving in the mining sector as a whole. That is why I don't really watch or care what the share price is doing right now before we get the EA approval. It's just noise to me, I committed to see this thing to the end when I first started investing back in 2016 and we are getting closer every day now to something BIG being announced. Keith is adding shares every month so he also still has full confidence in this project.

It is odd since such issues have likely been encountered in the past considering this is their business.

The Idiots from 6ix screwed up another webinar. You may recall a few webinars back they fucked another one up.

I entered the webinar via the email link from FMG, went to the 6ix site where they requested you to register by entering the same old shit, they always ask of you, but when you entered your email an error message came up. I tried it over and over again with no luck. I almost thought that it was just me being locked out.

I had several questions to ask, and I told Paul in my bitch to him that if I get the opportunity to watch the replay and don't hear answers to my questions, I'll be calling him or Dan for some answers. Surely, the Fools doing the call had to know there was a problem.

I had the same issue. The button to hit to enter the webinar was not highly visible so I did not notice it at first. I kept that original window open and clicked on the link in my email to the webinar again and got the error message. I went back to the original window that I had opened by clicking on the link in my email. After refreshing the page a few times I noticed the button to enter the webinar and was able to get in. Unfortunately about 10 minutes into the webinar I received a work call that kept me busy for the rest of the webinar and I could not listen to the rest of the webinar. Hopefully they send out a link so I can go back and listen to the whole thing. I did put in a question asking if they anticipated any delays in permitting related to the Cat Lake road, but if they answered it I did not hear it due to being busy with my call.

I got an answer back from Paul. He wouldn't say how widespread the problem was, but I think it was more than just a few.
Said he was going to be on a call with them later today.

Guess all we can do is watch the replay. I let him know I wasn't a happy camper.

I just sent Paul Morris in IR an email about what happened here today. Hopefully he'll come back to me soon and we'll know what happened.
That's IF he knows.

Yea cause no or little audience = monologue = no accountability = maintaining narrative in their frame. Not saying they deliberately did this, but incidentally that’s the effect

It crossed my mind that maybe I was being blocked from the webinar. I hope I'm wrong in that assumption. I had some questions to ask Dan and Steve Lines both.

They’re probably happy or playing dumb few if any got in cause that means less elephant in the room type questions get asked and no one to hold their feet to the fire.

I believe I'm wrong about the email I was looking at. I think it was the email they sent an hour BEFORE the webinar was scheduled to start. At the top of the current hour we're in, so that wasn't a new email it was sent an hour and forty minutes ago. My mistake.

Someone has to has enough sense to figure out something is wrong and people weren't able to get into the webinar. Pisses me off.

Keith needs to take some of Dan's salary and invest it in hiring out a webinar outfit that knows what they're doing. This is not the first time they fucked up a webinar.

mind posting the link for it? I didn't get that email, yet at least
but hey dan's $500k salary is really paying off! he's definitely unlocking vAL-yOo here with his deductive skills!

I just got an email saying to join the webinar in an hour. I guess they finally figured out no one was able to get in, what a damn joke.

That's what I get too. This fucking Mickey Mouse webinar outfit they use is totally fucking worthless.

I can't get in either. Keep getting "Error, something went wrong"

WTF is going on with these people? You can't even get into the webinar. I keep getting an error message when I attempt to register. This is bullshit.

Is anyone else having the same issues?

Link to the Lines and Dan discussion at 2 PM EST.
https://events.6ix.com/preview/permitting-discussion-with-dan-wilton-and-steve-lines

Very interesting article. I think this could happen sooner than most people think. I laughed at the last stage when everyone saw the crisis coming. LOL
Always after it's already here.

https://www.zerohedge.com/personal-finance/five-stages-denial-when-skeptics-are-faced-economic-collapse

For those interested in knowing. I received a reply from Paul regarding a couple of questions I had mainly about doing some mining at Duparquet and acquiring permitting to do so. This is what he told me.

Dan is still looking into the viability of a starter mine at Duparquet and have the ore milled at a local mill. The permitting for doing this would most likely have a shorter approval time than the regular approval process. Once we know the direction we're going to go, we can plan the permitting for Duparquet accordingly. This upcoming webinar is to discuss Springpole permitting.

That's his reply to me. He didn't really say anything new. This is the same stuff Dan was talking about 6-12 months ago, maybe I can get Dan to elaborate a bit more on the webinar about more specific news on this subject.

Well, I don't have a crystal ball, but if history is any guide we should see lower prices before we go much higher. That's what happened in the last big gold bull market, so that's what I would expect to happen this time. Time will tell.

Based on your timeline I should have plenty of opportunities to buy more shares. I hope we are all able to capitalize on the share price weakness.

Good Mish article. The numbers are just comical.......it is funny how some people still believe they are legitimate. I really wish people would be more honest and not try to spin the facts and figures to fit their political agenda. Both parties do this and it is highly annoying.

If you are speaking to the timeline that the Canadian government, finally give us the Springpole permitting I'm sure someone will bring that up on the webinar. If nobody else does, I damn sure will.

It was my recollection that Dan said we should have the permitting approval by the second half of 2025 If that actually happens is anyone's guess, maybe Steve Lines can give us a more precise date. I think it was Dan that said it should be about a year AFTER the EA is submitted that we would have approval.
Let's hope that's the case. We know all the questions and big hurdles for the EA should have already been answered prior to it being submitted.

IMO the timing of the permitting going through and when the gold price begins to rise to parabolic levels should coincide pretty well. I still think we're going into a recession either by the end of this year or beginning of next year, so 2025 could be a stinker for the market. That in turn should rotate money out of the tech high flyers and into gold and more defensive-type stocks. By the time the big money begins moving into the mining sector, we may already have a Springpole construction date set and financing done. By that time the share price should be much higher.

Thanks for emailing Paul. One thing that would be nice is if the timeline remains the same. As we all know it keeps getting pushed back, though I am sure FF is not to blame for most of that. Anything that has to go through government bureaucracy is often subject to the slow grind. Hopefully there is not a significant delay or other issue addressed for the first time during the webinar. I enjoyed watching Lines the last time I saw him so hopefully he is just as informative in the upcoming webinar.

Just checked my email and found a notice of a company webinar with Dan and Steve Lines coming up this Thursday June 13th starting at 2:00 EST. The topic for discussion will be "permitting" for FMG's Springpole project. I would be curious to know if there's any permitting being done for Duparquet too?

I'm going to email Paul to see if he can get Dan to talk a little bit about where they stand with getting the starter mine going at Duparquet. Hope springs eternal.

I ran across this article that Mish did on the bogus jobs numbers the BLS puts out. These Assholdes don't even know how they get the numbers they put out. This is big government at it's finest. They put out numbers that they themselves can't explain. LOL

Peter Schiff posted that jobs were actually lost last month, not gained. You can't make this shit up, but this is what happens when the government is involved and cooks the numbers to fit their agenda.

https://mishtalk.com/economics/how-much-did-the-bls-birth-death-adjustment-pad-the-may-jobs-report/

The government and the Fed are propping the numbers up as best they can before the election. That's the bottom line. The fiscal spending that the Dems have done is still holding up the economy to the point that what the Fed has done still hasn't kicked in yet.

Yes, the revisions every month are pretty significant, but as I hear on the biz channel quite often, NOBODY CARES OR TALKS ABOUT THE REVISIONS. The headline number every month is what the market follows. The revisions are a truer gauge and are usually revised lower, but the markets don't care about them.

Another thing no one seems to care much about is the job participation rate. That the measure of how many people are actually looking for work. They were talking about that on Fox biz yesterday and how it's not good because Dementia Joe is paying people NOT to work.

I still think that this will all come to a head sometime around the election or shortly after it. I agree prices haven't dropped that much and everything is still too expensive. I'm doubtful that trend is gonna change.

Here's a Mish article speaking to who's getting the jobs in this country.

https://mishtalk.com/economics/foreign-born-workers-provided-over-100-of-employment-gains-since-year-ago/

China encouraging its folks to buy gold and now silver, Costco sales of gold very brisk and now gold vending machines in South Korea. Certainly won't hurt to have civilian demand in addition to central bank demand. It would not surprise me if the same scenario is playing out in dozens of countries but the mainstream news doesn't find it newsworthy.
https://www.zerohedge.com/markets/south-korea-has-gold-vending-machinesand-theyre-selling-out

This guy is correct if their share prices stay the same. Based on Friday's close of .23 and if the exchange rate is indeed .607 for each BWCG share held, BWCG shareholders at current prices will receive TML shares worth .13961 while BWCG shares on Friday closed at .13. Interesting.
Potential Arbitrage Opportunity.$BWCG.v trading at $0.13/$0.135$TML.v trading at $0.24$BWCG shareholders will receive 0.607 $TML shares for every $BWCG share which means BWCG should be trading at $0.145+.

Special meeting is on June 26. Outcome will be known then.$TML has… https://t.co/tGL8TskWRV— Airic (@airic101) June 6, 2024

Citizen free press made me laugh with the way they characterized an article about the jobs numbers: "Jobs report comes in hot — until it’s revised lower next month." So true, there seem to be many more MAJOR revisions to the jobs numbers the last few years than in the past.

I think people are feeling the recession/depression, it just has not registered in the collective psyche yet. Anyone who goes to the grocery store, goes out for a meal, buys medications, receives medical services, buys car parts, pays utility bills, buys a cup of morning coffee (I make my own)....many things have gone up, up, up. One piece of good news - and Implanting may have touched on this recently - is a drop in crude oil prices. That one is a biggie.

Selling physical gold is becoming more and more trendy and main stream.....all over the world.

https://www.zerohedge.com/markets/south-korea-has-gold-vending-machinesand-theyre-selling-out