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SeaBlue, thanks for posting this video. I encourage all to listen to 21:53 thru 22:21. Dan mentions startup plans at Duparquet to add definition to investors in a couple months. Maybe small scale mining????
I'll speak to the video first. IMO there was nothing that he said in this video that he hasn't said multiple times already. The SAME OLD SHIT. All just more past history. Who cares about his background, I want to know how and when the share price is going higher.
He talked about saving shareholders from more share dilution. That's also in large part bullshit. Yeah, we made a little money from Auteco, Big Ridge, and Treasury from the deals that were done, but that was actually small $$$ amounts compared to the offerings we've done since he said we're NOT going to have any more offerings or dilution from 2 or 3 years ago.
Does he think we're stupid? I remember him saying after the one big offering, we would not have anymore dilution. That was at least two, maybe three offerings ago, so that's a bunch of crap.
Also, the speech he made about there being no capital available to Canadian miners, like there used to be. Is that supposed to instill confidence in anyone that we'll ever find a JV partner or someone willing to back us or help build Springpole? It almost sounded to me like he was saying there was no one there to do it and money may not be available. Is that what anyone else heard?
If they want to bring calm to shareholders in this company, IMO that's a poor way to go about it. Tell me about something you're going to do to solve the issues.
At least he wasn't laughing hysterically at where the share price is like he did on this last Ron's Basement video. The Fool was laughing about the share price being depressed and undervalued. Hello Dan, that's your job.
I'll end my bitch with this. He again has moved back the time table for the Springpole permitting he said in one of the recent videos that would now be completed toward the END OF 2025, before it was mid 2025, and before that it was mid 2024. He did the same thing in this video kept giving a date and pushing it back. I don't think they know when it's actually going to be finished is my best guess. Keep pushing it back Dan, maybe no one will notice.
Another Dan video:
Thanks for letting us know. EOM
If Cat Lake's wish is to have a year-round accessible road, that costs money, LOTS of money. FMG won't be able to build that road until revenue from the gold mine starts flowing. Our people need to tell the Big Chief that the sooner the Tribe gives their approval, the sooner construction of a road can begin. I asked Paul if Ontario or the Canadian government would assist in the cost of building the road and he wasn't sure. My feeling is that they should be. Putting the mine in will benefit the government greatly too, they should be more than willing to help make it happen.
There are many advantages to those folks in the tribe that the mine would bring there. Firstly, it would help bring them into the 21st century. They're so isolated there I'm sure that has to be a big problem for them. Imagine not being able to drive anywhere. They have contact with only the few people that live in that immediate community. That has to suck.
I also asked Paul about what they had planned to bolster the share price. He told me they had some things in the works to do that. He didn't get specific, but I'm sure I'm not the only shareholder asking that question. He claimed they thought there was an unknown Seller of FMG shares that had been unloading shares and driving the price lower. I couldn't deny that, but one would think that at some point in time the weak hands would be out of the stock and the selling would peter-out or stop. Let's see what they can do to move the share price higher.
IMO they've just touched the tip of the iceberg when comes to finding gold around Springpole. There's much more to be discovered. That will take time and money.
Thanks for letting us know. I agree that the article helped clarify things. A win-win arrangement will be worked out and the FIrst Nations folks will do well and so will FF. I also suspect that both the Cat Lake tribe and FF will continue to do well because people from the tribe will wind up working at the mine, which will provide employment for at least 10 years, likely longer if drilling reveals anything like the drilling results at Pickle Crow.
Thanks for posting that article. I thought it shed a lot of light on what is going on with the Cat Lake saga. Although there were portions of the article that weren't wildly bullish, the part where the Chief made mention that they weren't against the mine IMO was a very good sign for us.
I have some additional news. I spoke with Paul just now and forwarded him your article. I asked him to call me AFTER he read it, so I could bounce some questions off him concerning the article. When he called, he told me the Chief in the article was at the FMG booth at PDAC with Dan on Tuesday. I could only guess if he was at the Conference he wasn't too pissed off. LOL
Paul told me he was getting a feel for what's going on in the mining industry. Some male bonding should go a long way in moving the mine forward.
The article stated that the Ontario government gave FMG the permitting to build the ice road to the mine site WITHOUT the knowledge and consent of Cat Lake. I asked Paul about it and he said in no uncertain terms that was untrue. He told me they were notified. My guess is they didn't want it built without their final blessing to do so and the Judge agreed with them. Paul told me the mine will be approved. They want a road to be built for them to get out of Cat Lake and if they get that their approval should be given. I think this will be more likely to happen as we get closer to getting final permitting from the government.
Paul told me we don't have to have the Cat Lake approval to build the mine, government approval is necessary to have. Cat Lake is aware of this fact, so what usually happens is when the government gives their approval the indigenous communities will fall in line.
This is not financial advice, but I did ask Paul about the Treasury warrants and he told me they expired worthless, so there would be no tax write off for them. I suspected that was the case.
I'll comment on a few of the other things I asked Paul as my time permits.
Article about the road.
https://www.cbc.ca/news/canada/thunder-bay/cat-lake-first-nation-first-mining-gold-1.7131255
It's going to be very interesting to see how this election goes in November. We have eight months to go.
I can't fathom that Dementia Joe could be the democrat nominee. This Guy is just too far gone, he should be in a nursing home right now. I still think his Handlers are going to attempt some sort of last minute nominee change before election day. Their problem is they have no one really any better or liked. Kamala Harris? Gavin Newsome? LOL
They'll make Trump out to be Satan reborn, but the more they do that the more the electorate will be behind him. My concern is what you referenced with the CIA. Trump had better be watching his ass for sure. The Deep State doesn't want him back in the White House.
I called it in my post few weeks ago. Not sure if y’all recall, but I posted a link to James Okeefe having tracked down a secret federal government funded company that was bussing them over. The article even spoke about giving illegals en route PDF maps of our border’s weakpoints.
So seeing this as baffling as it is after what I’ve already read about what they’re doin doesn’t stagger me as much.
When you control everything including the courts, nothing is illegal. “It’s only treason if we lose.” - Game of Thrones
It’s pure evil, but Biden admin is a representative of the little hat people tribe families that own the federal reserve, Bank of England, ECB. You either sell your soul and do their bidding or you get destroyed legally and if that fails they JFK you using their proxies the CIA. Little hat people control and own our government from top to bottom, they control the narrative because they also own the media and Hollywood, and they control sentiment because they own big tech.
When you control the creation of money for a sovereign, you control everything. Rothschilds realized this early on during the Louis XIV era as they murdered all of his heirs, sons, grandsons mysteriously via mistreatments and neglect (bribing Louis’s doctors and cooks etc..) because they were in charge of printing England’s money and that’s a godlike power. Then they did the same with Napoleon, revolutionary war, war of 1812, world war 1, 2, Vietnam, COVID, 9/11, they are behind EVERYTHING.
That’s why it’s hard for me to look at Biden admin as evil they are and fixate all my sorrow and hate on them.
I just found out about that yesterday. It is crazy. Facilitating illegal entry, trafficking are two charges that come to mind for Diapers and Mayorkas.
Did anyone else see this? Unfucking believable.
https://www.zerohedge.com/political/treason-bombshell-report-reveals-biden-has-secretly-flown-320000-illegals-united-states
The PDAC conference is going on in Toronto this week. I guess the FMG crew is there doing their thing. I spoke to Paul via a short email and told him I would speak with him next week in lieu of all that's going on in Canada now.
Maybe something fruitful will come from the conference this year. Hope springs eternal.
https://www.pdac.ca/convention
Well, the good news is the gold price has pushed through the $2100 range in a fairly convincing way today.
$2124, as I post, so we're seeing some nice follow through from the price action Friday. Bitcoin is going parabolic, so maybe the gold bugs can do something as well. Time will tell.
How much gold is really being held in the U.S.? No one really knows for sure and the Banksters want to keep everyone in the dark about it.
https://www.zerohedge.com/economics/fed-chair-tight-lipped-foreign-nations-evacuation-gold-us
Yes, crisis time draws ever closer and the Banksters know it. I'm sure they've made the plans they hope can stave off a major recession/depression outcome. That means throwing as many trillions of fiat dollars at it as needed.
IMO the tricky part comes if that can be accomplished BEFORE election day in November? Do the Banksters want the event to happen or are they trying to prevent that outcome? I believe that plays a huge role in the outcome of the election.
If Dementia Joe is still the candidate come November, he'll have a high hill to climb with a bad economy in tow. If the economy continues to tread water he'll have a much better shot at winning IMO. I personally believe the SHTF moment comes prior to the election and they have to pivot and begin dropping rates shortly afterwards. That may not mean the economy immediately takes a dive, but it will in time. Whoever is the next President will have the task of attempting to pick up the pieces. JMO
Yeah, if FMG is sponsoring his channel then he's being paid to talk favorably about the company. They wouldn't be a sponsor if he didn't AND why he let it slip that he worked for Dan. Because he's being paid to do so. Also why Dan had to make the comment that he "worked" for Ron, because he's a shareholder.
Depending on how much he's being paid, I don't really have a problem with that. FMG needs all the exposure it can get. I also noticed that under the video Ron is selling "Ron's Basement" merchandise. LOL. People will buy just about anything, I guess.
Interesting how a lot of folks are talking about the debt these days. So I am assuming we are nearing another crisis of some sort. I doubt we'll hear anything of any substance from either political party on how to deal with it. Dealing with it will require sacrifice and financial pain.....and no one today is willing to deal with that. Tightening your belt and rolling up your sleeves are sayings that have passed out of use and out of the collective consciousness.
They have probably been paying something to Ron's basement for a while - in the link I provided previously (see below) go to the gray boxed area below the video and click on "more." FF is a sponsor of Ron's basement. It could be a small amount...not sure. In my view Ron heavily promotes FF and believes in FF.
I don't know if you caught the part of the Ron's Basement interview when Ron told Dan he "worked" for him. That made me think that Ron might be getting compensated from FMG for his exposure of the company. It wouldn't surprise me if he was being paid for what he does. Later in the interview Dan made it very clear that he (Dan) worked for him, not the other way around. I chuckled when he said that because it seemed to me he was trying to cover up Ron's fuck up.
IMO management needs to be as frugal. as they possibly can be because we're not rolling in dough here. The money situation is tight, and they need to act like it. I would agree with you that there's no big reason to be paying for ANY promotion right now. That needs to happen when people are interested in the miners and that's certainly not at the moment. Keep your powder dry until the time is right to deploy it. That's when the bull market finally starts up again. Whenever that happens.
I want to hear a couple things going forward. Can they make some sort of REAL effort to get the share price up from here and what exactly is going on with the various negotiations going on with the Natives around Springpole. Dan spends a lot of time talking about how undervalued the shares of the company are, but I don't recall him ever saying what they can or plan to do to move it higher now.
I'm going to pose that question to Paul, hopefully this week.
Hopefully they are not going to spend any more money on promotional activities going forward. Also, agree with your points about the same old information. After a while there is no point in spending time promoting with no new information.
I also would like to hear a plan on getting the share price up going forward.
Another pundit talking about the debt crisis coming.
https://www.msn.com/en-us/money/markets/hotshot-wharton-professor-sees-34-trillion-debt-triggering-2025-meltdown-as-mortgage-rates-spike-above-7-it-could-derail-the-next-administration/ar-BB1jfnRI?ocid=msedgntp&pc=U531&cvid=e0dd351be90c4684831946953b42f7a2&ei=16
I watched the video and it sounded like more of the same from Dan. He comments that the FMG share price has been unduly hit, like the sector has and we should be valued at much higher prices. Nothing new there.
O.K., I think most of us that are bullish this Company wouldn't disagree with that point. My question to Dan would be how are You trying to turn that dynamic around? Are we just going to wait and let the share price crater or is there anything at all that You or Keith can do to turn the share price higher? Can there be a tourniquet applied to stop the bleeding share price? This is what long-suffering shareholders, like me, want to know.
I believe we're to a point in the proceedings where that's a valid question to be asked. Up until now the Company has depended on share dilution to raise working capital and move the Company forward. Share dilution becomes an even larger problem with the share price down at these depressed levels, as more dilution is required to raise the cash required to move forward. That's NOT good.
We know gold valuations are high, we know the stock market is daily breaking new records, but the mining sector just continues to get cheaper. That's the sad truth, but will the mining sector move higher in a down market too? I don't see that happening.
So, where's the bottom? I want to hear our management address what CAN or IS being done to put a share price bottom in. Excuses and laughing the issues off, like Dan so often does is IMO getting old. Insider buying hasn't helped either. Maybe Dan will say there's nothing they can do. If that's the case, then by all means just SAY IT. Dan spewing the same shit on every interview he does IMO is getting old. Tell us something we don't already know, like how you're going to fix the Cat Lake issues?
P.S.: I didn't talk to Paul last week because he didn't come back to me. My guess is he's trying to put out a lot of fires now with the shareholders that bought this last offering and now are down on that deal. Maybe next week, I'll get an audience with him?
Implant please keep us posted if you find anything out about the warrant tax write off thing.
I'm no expert on "warrants", but I'm assuming they aren't the same as a stock. If they expire worthless like our Treasury warrants did, then my guess is you might not have anything to WRITE OFF, as they
never were converted into common stock anyway.
Am I sure about that? No, but I have a call into Paul for today and I'll add that question to the list I have for him. He may not know either, but I'll ask nonetheless. It's worth asking.
When all else fails, I suppose a call to my broker would be in order.
Thanks for bringing the matter up.
I am not an accountant so I cannot say for sure. I believe the warrants constitute a security that expired worthless, so I imagine you would claim a long-term capital loss on them. Like I said, this is not advice of any type - you'll have to do your own research on the matter. Below are the IRS discussion of the topic, related form and instructions.
https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/losses-homes-stocks-other-property/losses-homes-stocks-other-property-1
https://www.irs.gov/pub/irs-pdf/f8949.pdf
https://www.irs.gov/pub/irs-pdf/i8949.pdf
So, are the Treasury warrants we were issued are able to be claimed on your taxes as a loss? I thought if they expired and never made the price target set for them that they just expired worthless and had no value? Am I wrong in that assumption?
This is for informational purposes only and should not be considered tax and/or legal advice. For anyone who held the Treasury warrants.
Canadians:
https://www.taxtips.ca/personaltax/investing/taxtreatment/warrants-and-rights-to-purchase-additional-shares.htm
Americans:
https://irc.bloombergtax.com/public/uscode/doc/irc/section_165 I.R.C. § 165(g)(1)
Well, you're 100% correct if there's no gold mine built, then nobody gets shit. That's exactly why IMO they're just attempting to squeeze all they can out of FMG.
I find it very strange that they don't want FMG to build a road to the mine site, but their big request from the Company is that we build a road for them to access. LOL
Dan has commented on more than one occasion the Canadian government wants Springpole to happen, so I think regardless of what the Chief and a few people at Cat Lake may want, the government will have the biggest say of what ultimately happens there. JMO
I hope to speak to Paul this week and see what he says.
Let us hope this is just some posturing for more improvements to the area. What would be great is if they could work together on a solution that benefits the company and the local folks.
Was out of town for work for a few days. Saw the news about the road. Well, they can try and get what they want out of the company, but no gold means no anything. The only problem with that is we run the risk of it not getting done and a bigger fish with a lot more capital behind them coming in and making it happen at our expense.
IMO the question to be answered is WHO has the final say or authority over what goes on with these areas to be used by FMG?
Is it the Canadian or Ontario governments that have the final say in moving Springpole forward or does the indigenous community at Cat Lake have the authority? I was told in the past that every other community, other than the One at Cat Lake is onboard with the mine coming to fruition, so how that works I don't know. Will it come down to some sort of vote? Who knows.
I'm guessing, but IMO this is all most likely a big play from the Cat Lake community to get more perks out of us. Dan said they were asking for a road be built for them, so they had a year-round way to get out. My guess is that this road may just be the beginning of the list of things they want.
FMG can't give them the world, but I suspect they can make promises to do things for these people IN THE FUTURE, after the mine is up and running and money is available to fulfill some of the promises.
In the meantime, the share price is and should continue to suffer. Uncertainty causes that to happen.
Plan is to wait till it drops to 1 cent, then buy it all and have it climb back up to 10. Then Dan will boast about how it was a ten bagger that finally showed its value lol
If they’re suing over a simple road, if they’re litigious and protective over a road, how are they gonna be over a mine come game time?
Great post, thank you. Eom
Charles Nenner's latest comments. IMO he makes some valid points about the geopolitical events coming.
https://www.zerohedge.com/geopolitical/war-cycle-will-continue-build-2025-charles-nenner-sees-super-bull-market-gold-silver
Article about all the Bigshots selling stocks. What do they know the lemmings don't?
https://www.msn.com/en-us/money/companies/jeff-bezos-jamie-dimon-and-mark-zuckerberg-have-sold-stock-worth-about-9-billion-they-might-think-markets-can-t-go-much-higher/ar-BB1iU5qK
Is this the problem many have been talking about with commercial real estate? This Fellow seems to think that the SHTF moment is coming in a few months. He thinks the Banksters will have to pivot and begin dropping rates at a big clip if problems start coming home to roost.
If he's right that would most likely tank the markets and set in motion the correction that needs to happen in order for PM's to move higher. Rotation out of high beta tech stocks and moves into safer commodity stocks could happen in big market move lower. Lower rates would be the signal for higher moves in PM's.
Well, the company has finally issued a PR about some of what's happening up at Cat Lake. It appears they want to build a temporary road to the Camp and the natives are blocking their effort to do so. I understand that Dan can't speak directly to what is going on with the indigenous community there at Cat Lake, but I want to know what exactly it means if we don't have the support of these people. I know they want their approval, but what happens if they won't give it?
https://firstmininggold.com/news/first-mining-provides-update-on-temporary-winter-road
I'm going to see if Paul can shed more light on this sometime this week.
Nice article speaking to what the author sees coming for dedollarization. This fellow leans more to where Every and Johnson were going in the debate.
He thinks the dollar is losing backing, but it will take time to make the switch to something better.
https://blogs.lse.ac.uk/usappblog/2024/02/22/long-read-the-beginning-of-the-end-for-the-us-dollars-global-dominance/
I'm skeptical the Fed is going to begin dropping rates unless there's some event that REQUIRES they do so. Inflation is not close to their 2% target and I don't see it getting there unless there's a deflationary event that causes it to happen. That may be what the Fed wants to see from behind the curtain. An event that will quell inflation in the time being.
The market thinks everything is under control and the Banksters can manage a measured move lower with rates. I'm doubtful that happens personally.
So, IMO we most likely see another emergency, fire alarm coming soon and depending on how severe the issues are should bring the markets down in a big way.
We never seem to know what the real problems are until they surface and are exposed, but we know it could be a number of different things.
When the CEO's and bankers like Jamie Dimon start unloading their shares IMO that's a sign to start selling too.
A pretty good sign it's time for us to short the DOW, eh?
Jamie Dimon selling more JPM shares. For some reason this article says this is the first time he's unloading shares. I posted his selling shares a while back.
All the Bigshots are unloading shares now that the market is near the top.
https://www.zerohedge.com/markets/jamie-dimon-sells-822000-shares-jpmorgan-first-time-stock-hits-all-time-high
Yes, I see the same. Keith made mention of it on this last webinar. We going to have to see the stock market come down in a big way with the Banksters reverse course and begin dropping interest rates because of it. That will be the catalyst that takes the wind out of the sails of what I believe is an irrational move higher in AI tech related stocks. The REAL ECONOMY is not doing that well, it's just that AI is in a bubble now and lifting the entire market with it.
When a big market correction comes that will rotate money out of all the very over-leveraged, high beta stocks and into the beaten down commodity related sector. PM's should move higher in that environment and send money into the miners when everyone sees the move higher in gold and silver prices.
Of course, this is all still in front of us. JMO
I share you and Seablue's concern. I have no doubt the market crash will pull our PM stocks along with it. Fear selling will spare no one.
But as PMs come into their rightful place the miners will recover rapidly and finally take their rightful valuations.
The stock market is doing things now that IMO are at best IRRATIONAL to use an old Greenspan term. This looks somewhat like a blow-off top to me, not to say it can't continue for some time.
If and when a big drop in the stock market comes, I'm skeptical of that being a good thing for any stock. Everyone will be selling any risk asset and moving either into cash or something perceived as a safe haven asset. How much further the mining sector falls is anyone's guess, but it's so beat up now we know it can't fall as hard as say the tech sector. We just continue the waiting game until that turn comes.
Thanks. Let us know if you get a chance to chat with him. I would expect the share price to remain low until this summer. What concerns me is the stock market tanking and FF getting pulled down with it.
I'm going to put in call for Paul next week and if I can remember to ask him about the insider shares/options thing I'll do so.
If he can give me a good answer, I'll share it with everyone here.
Every and Johnson disagreed with SOME of what Rickards was saying, but on many points they both agreed with Rickards views and told him so.
Much of the debate discussion was centered around the dollar losing its reserve currency status by 2030. IMO no one can predict when the dollar will lose that status. That's like me saying I can predict the weather in a certain area 6 years from now, its impossible to do. There are way too many variables that would delay or accelerate that happening. I think its safe to say the dollar's relevance is falling and will continue to do so. It won't lose the reserve status until something is their to replace it and that was the Every/Johnson argument. What can replace the dollar?
I said that about the dollar and our share price because if the dollar ISN't going away in a shorter time frame that gives those holding dollars more selling power when the time comes to sell. I fully expect the FMG share price to be appreciably higher in the next couple years, maybe the dollar won't be totally worthless before then. I'm less sure on when our shares will be to a price that I want to sell mine at.
I'm not sure what's going on with the options thing and how that might relate to the last offering OR maybe what the Company sees coming with a potential share price move higher in the near term? I would think that the Company Insiders want to be fully loaded with shares and options BEFORE a move higher takes place. They know what's going on behind the scenes and to events we're not privy to.
I don't have a problem with them rewarding themselves, but at some point, the lowly shareholders would like to see a move higher too. JMO
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