First Mining Gold Corp (FFMGF)

[Implanting]

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?

[SeaBlue]

Dan in Ron's basement.

[Nsnz33]

Implant please keep us posted if you find anything out about the warrant tax write off thing.

[Implanting]

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.

[SeaBlue]

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

[Implanting]

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?

[SeaBlue]

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)

[Implanting]

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.

[SeaBlue]

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.

[SeaBlue]

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.

[Implanting]

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.

[Nsnz33]

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?

[Wooden Indian]

Great post, thank you. Eom

[Implanting]

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

[Implanting]

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

[Implanting]

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.

[Implanting]

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.

[Implanting]

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/

[Implanting]

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.

[SeaBlue]

A pretty good sign it's time for us to short the DOW, eh?

[Implanting]

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

[Implanting]

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

[ThSeeker]

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.

[Implanting]

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.

[SeaBlue]

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.

[Implanting]

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.

[Implanting]

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

[SeaBlue]

I wish Schiff had been there too, but maybe he was unavailable.

Totally disagreed with Every that gold is always deflationary (or something along those lines). I almost laughed when he said that. Rickards was quick to step in with one or two examples where that was not the case.

I hope you are right about the USD and share price. The status quo favors us in that respect. I am not real thrilled about the volume of options / restricted shares reported recently, but that seems standard in the industry.

[Implanting]

Marco Rubio is painting a dire picture about when China decides to unleash their cyberattack on the U.S.
He's probably right about what could happen and the Idiots in our government aren't really concerned. What's the government here doing to inform the citizens about how to protect themselves? Not a damn thing.

https://www.msn.com/en-us/news/world/rubio-warns-chinese-cyberattack-will-be-100-times-worse-than-at-t-outage-your-power-your-water/ar-BB1iIO20?ocid=msedgntp&pc=U531&cvid=0afe6735ab434034b6a50d6c3424f542&ei=17

[Implanting]

I agree 100% with your point about what Johnson said concerning the U.S. and the "war" subjects they discussed. The view Johnson seemed to take was that because U.S. defense contractors did so well the U.S. won the war! What the Hell? That makes no sense whatsoever. Dementia Joe left $68 billion worth of military equipment in Afghanistan for the Taliban, does that mean we won there too? No, absolutely not. We don't even have hypersonic missile technology here yet, it's my understanding that China and Russia already have hypersonic missiles. Are we winning there too? LOL

Rickards and Murphy were in the camp that the dollar is on its way out and the other two, I thought, made valid points that the dollar will be around longer. IMO it's very clear the dollar, along with the U.S., is losing it's influence around the world. The dollar may still be the least dirty shirt in the closet, but the East is making a very big effort to dump it. That's for certain, so that is a slower death for the dollar. We could at some time end up with multiple reserve currencies I suppose.

If we do see the dollar hold on for another 5-10 years that may be in FMG shareholder's best interest. We may not have to fire sale our shares as quickly as possible after we see the share price move higher.

Murphy was just O.K. in the debate. IMO Peter Schiff would have been the other Guy with Rickards that would have made a much better case for the gold side of the discussion.

I'm glad You persevered to watch the entire debate. It was testy at times, but I thought both sides made good points. It's always good to get different perspectives.

[SeaBlue]

It took me 3 days but I finally finished the Zero Hedge roundtable debate/discussion with Murphy, Rickards, Johnson and Every. Thanks for posting that. It was packed full of interesting viewpoints. Definitely worth watching though it requires a substantial block of time and you have to pay attention or things get past you. The most shocking thing was Johnson seemingly saying the US won in Iraq and Afghanistan because the defense contractors did well. I 100% disagree with his line of thought. Some great back and forth on the USD, BRICS, gold, fiat vs fiat, government confiscation, etc. I think overall I tend to subscribe to what Rickards was saying the most, then a tie between Murphy and Johnson and then Every. All of them had very valid points throughout the discussion. I hope they do another one at some point in the future.

[Implanting]

PR out on more Duparquet drill numbers and gives totals for drilling done in 2023. Looks to be very promising with potential to find much more gold there in 2024 and beyond. We're getting absolutely NO credit for what's at Duparquet or for that matter even having Duparquet, as an asset.

Hopefully, at some point in time that changes.


https://firstmininggold.com/news/first-mining-announces-final-2023-exploration-drilling-results-and--commencement-of-2024-drill-program-at-the-duparquet-gold-project

[Implanting]

A must listen from Martin Armstrong.

https://www.zerohedge.com/political/everything-going-wrong-deep-state-martin-armstrong-warns-thats-what-makes-them-so

[Implanting]

Just watched this interview with David Rogers Webb. It doesn't cover the detail of the audiobook I posted, but he gives a nice overview of the book with the fellow doing the interview. Webb talks about most of what we've been talking about here. He's done the research and what he says IMO is true.

The Banksters start wars to get what they want. These People are truly demented.

A must watch.

[Implanting]

Has anyone listened to this? I'm posting the audiobook off UTube for THE GREAT TAKING.

The voice reading the book text I suppose is an AI copy of Orson Welles. Much easier to listen to IMO.
I'll comment on the book when I finish it.

[Implanting]

Interesting interview George Gammon has with a hedge fund manager about various topics. George is always thought provoking and brings up issues we may not have even considered. A couple of those are in this interview.

[Implanting]

Here's Prof. Steve Hanke's latest. One of the few economists that really understand and get what's going on. This Man IMO should be running the Show The issue with that is he may fix the problems and we know that wouldn't go over too big. Hanke's points are spot on.

He sees gold moving much higher too.

[Implanting]

Interesting guest with Rob from Gold Silver Pros and I agree with his views. Go to 15:00 into the interview and listen what he says from there.

He talks about a near-term washout coming in PM's and the miners with a strong move higher after that. He speaks to what happened to gold in the 2007-2009 time frame when the market tanked and everyone was seeking safety and liquidity. In other words, they were scared, but after that move down PM's and the miners bottom and turn higher.

[Implanting]

Looks like the Whales may be starting to take positions in the miners. Check out this article from ZH speaking to Stan Druckenmiller's hedge fund dumping some tech companies and buying into Barrick and Newmont. I guess he thinks the shares are cheap here.

https://www.zerohedge.com/news/2024-02-15/arizona-joins-brics-and-druckenmiller-buys-barrick

[Implanting]

We know NOBODY ever wins in war, especially those that give the ultimate sacrifice in war, but the country/countries that vanquish the opposition get the spoils of war. That's gone on through recorded history. To the Victor go the spoils and special privileges.

The sad fact is I see the U.S.'s main purpose currently as being a global provider of the weapons of war. Mainly to our allies. Think about it, what other area of commerce in this country is more thriving and vibrant now than the companies that make weapons? I certainly can't think of any, but to Jim Rickards
point to Brent Johnson in the debate that doesn't make our military the best in the world.

[SeaBlue]

Thanks for your summary. I will try to watch over the next few days.

Hearing what Johnson said reminded me of Lindsey Graham....just pushing the war narrative. I think in the next world war there won't be any "winners" - just relative levels of loss.

[Implanting]

Recent Peter Schiff interview. It's always good to hear from Peter and get his latest thoughts.

[Implanting]

Also, make sure you watch this part with Brent Johnson. It starts at 1:16:30

He talking about the dollar getting stronger as the rest of the world requires more dollars and of course we know they aren't currently making more dollars. So, when the SHTF moment arrives Johnson talks about the big SELL OFF that will ensue and how gold will sell off with the market. What I've been harping about.

When Brent Johnson was talking about the military situation he was bragging about how war is really good for the U.S. military complex. Well, no shit Brent, but how good is it for the U.S. taxpayers?
Rickards was trying to tell him that didn't mean the U.S. military was the best military, but like someone heavily invested in Raytheon or Lockheed Martin, Johnson was more interested in the U.S. selling weapons than us being able to defend ourselves. That's what this has all come down to, people making money in defense stocks. I thought Rickards made him look bad in that argument.

[Implanting]

O.K., I watched the whole debate. Let me say that it was long, but worth watching in total because they covered a LOT of ground and interesting topics. Many of which we talk about here. There were a couple of times in the debate where I thought the gloves were going to come off between Rickards and Every, but cooler heads prevailed. Adam Taggert didn't have to play referee in a cage match fight. LOL

The main topics of discussion were dedollarization and if the dollar loses reserve status, BRICS and rest of the world getting out of dollars, military conflicts, CBDC's and of course gold and it's place going forward. If I didn't have time to watch the whole debate I would suggest trying to watch the first hour and a half and the part at the end with the Q&A time. The Q&A begins at 2:17:10 into the video.

The part that I found especially interesting was when they were talking about possible military conflicts happening. I don't know how much real knowledge any of them had in terms of knowing who's got the best military right now, but I tended to agree with what Jim Rickards was saying, instead of Every and Johnson If it comes down to a major war happening IMO that could usher in the next Top Dog. I'm skeptical the U.S. has the best military at this point in time. I think Rickards made the crack our guys would be wearing dresses.

They ALL agreed you need to be holding physical PM's and they all predicted lofty gold prices going forward. Peter Schiff with Rickards would have been MUCH better than the Murphy fellow.

[SeaBlue]

Ha! Schiff there would have certainly added more to the conversation to say the least.

If could listen to it and could let us know the best parts that would be great. Thanks.

[Implanting]

I've only watched the short clips too, but as time permits today, I'll watch the full discussion.
Stay tuned and on a later post I'll note the best segments to watch. I know others here have limited time to watch also.

I thought the exchanges from Every and Rickards got pretty testy. Rickards is normally speaks with a quiet softness, but it appeared he really got his feathers ruffled. by some of Every's comments. Rickards revealed a side I've never seen from him.

They should have invited Peter Schiff to the party too.

[Implanting]

If I remember to do so, the next time I speak to Paul, I'll see what he knows about Reinson's departure. I don't know if he was let go or left for greener pastures, but he wasn't there very long. That might indicate he wasn't working out like they had hoped.

I'm all for rewarding and incentivizing the people in the company that can bring results to shareholders. Maxwell and Lines are both squarely in those positions.

Steve Lines was excellent in that webinar you referenced. I've already told Paul to get Steve back on a webinar AFTER the EA is submitted this Summer. That would be a perfect time for him to update shareholders on where we are with the Springpole permitting AND what's going on at Duparquet.
There should be volumes of information he could shed light on in that webinar.

[Implanting]

That article explains a lot. Jerome Powell said in his recent 60 Minutes interview that the Fed can't tell Congress how to spend or appropriate money. No shit, Jerome that's because You and the Idiots at the Fed can't manage your money either.

Their solution is always the same....print more fiat and cause more inflation for the huddling Masses. The Global Elites don't carry they have all the fiat they'll ever spend.

[SeaBlue]

I watched all of the shorter clips. The last video is almost 3 hours so I would need a serious block of time to watch. While Every and BJ brought up good points, I think what Rickards was saying made more sense to me overall. Murphy had a good point in the last video about how the banks are already herding us toward the chute of CBDC acceptance.

The BRICS will try everything they can to wean themselves off the USD. Every made a big deal about how China needs to sell to the US and western markets. Well, that dependence will diminish somewhat as time goes on because the US debt is soaring with no reversal in sight. To go back to the criminal organization analogy - they'll run up that debt to unimaginable heights and then crash it so that they reap the benefits going up AND going down. As you and Nsnz33 have mentioned and/or alluded to recently - the Fed is a corrupt organization, the banksters are engaged in racketeering and so are the pols. Remember that news drop that listed all the pols getting money from China? Boy, that whole issue sure disappeared in no time. Instead of real investigations of things like that - or the NGOs that are spearheading the invasion of the US - we are given bread and circuses much like the Romans. People enamored with Taylor Swift at the Superbowl or what those goofs the Kardashians are up to.

While I thought my man Schiff got the best of Rickards when they squared off a while ago, I thought Rickards had the more compelling arguments in these videos. To me it just shows that some really smart people can have differing opinions. The discussion is a great one to have. Maybe we could have another roundtable with AOC and Nancy Pelosi vs Ron Johnson and Josh Hawley. I would pay money to watch that comedy.

I don't like the fact that Rickards cut the guy off a few times, but Every did the same to Rickards several times.

[SeaBlue]

Whatever it takes to get it to the finish line. Maybe Jeff left because of a better opportunity at another company. Who knows. I just hope the departure does not disrupt our progress toward the goal line.

I thought Lines was good during one of the webinars I watched in which he spoke quite a bit.