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I try to throw what I can up on the board. It’s not anything that can’t be found with minimal searching. I enjoy reading your posts as I think your analysis and thought process are typically deeper and better than mine. That goes for others on the board – Nsnz33, Pollisis, traderjoe3227 and several others who have posted here over the years. All have great knowledge and viewpoints when it comes to FF in particular and on broader topics like the economy, currencies, central banks, precious metals, society, history, etc.
It is a great outlet for me and helps me avoid talking about such matters to the Mrs. – whose eyes just glaze over and who does not pay attention despite the topics being of such importance. 😊
Yes, thanks for that information. IMO this would be a very important event for this company. A REAL revenue source that could hopefully be enough to at least slow down our dilution rate going forward. I agree that if they can pull this off it would be perceived as being very positive by the Street.
ANY non-dilutive revenue producer for the Company is a win. Let's see if they can make it happen.
Well, all I can say is it's about time Dan painted a clearer picture of the situation in general. That's concerning what's going on at Cat Lake and also shedding a little light on the Sprinpole permitting and a few words about Duparquet. It always seems to take Matt doing his usual thorough questioning to make Dan talk. If Matt weren't conducting these videos we'd be much less informed as shareholders.
IMO it's fairly evident now to see what's happening at Cat Lake. The Tribe there want their all-season road and until they get it, they'll be difficult to deal with. Remember the Big Chief's problem wasn't so much with FMG, it was with Ontario and most likely the Feds. That may be the bigger problem for them getting the road. It should be made very clear to the Big Chief that any road building for Cat Lake begins AFTER the mine is operational and producing gold. That's the only way the money is available to build the road. PERIOD.
Without having a clue what building this road will cost, I can't see how between FMG, Ontario, and the Canadian federal government they wouldn't be able to give it to them. UNLESS, it doesn't matter to the government and the Feds tell the Tribe to go fuck themselves about a road. Remember my conversation. with Paul was that the government gives the authority to build the mine after all is said and done. All the PERKS obtained by the Tribe are in essence to make them happy and stay in their good grace, so I guess we'll see how it all plays out. IMO the mine's going to be approved. We know Canada wants to see that happen, too much money is lost if they don't build it.
Most of what Dan said about Springpole was old news. I want to hear from Steve Lines shortly after this final EA is submitted over the Summer. He can give FMG shareholders a blow-by-blow story on where we are and what still needs to be done. ALSO WHEN IT SHOULD HAPPEN. Now the timeline Dan was talking about in this video was another year and a half away. Hope I'm still alive by then....
He spoke briefly about Duparquet, but again nothing specific. He talked about not needing to build a mill for the gold, but what about getting permits to mine and dig the ore out of the ground first? How long's that going to take to obtain? Is he talking smack about that or is it doable in a time frame that will help the cause? Give us some hard facts please.
P.S.: Seablue, as usual thanks for posting this very important video for us.
Thanks for the information. That would be a welcome development if they can make it happen. I did not realize the timeline on that could be so short.
Surprisingly fast. I had a conversation with management in January where it was conveyed that theoretically they could be pulling gold out of the ground by the end of this year. They said it probably wouldn’t happen that fast but it could be done. There’s not much for us to do as we wouldn’t need a full EA and we wouldn’t need to build a mill. As long as we are under 2000 tons per day, it’s a very fast approval process. There are multiple mills within 30-50 kilometers from us so we would need to make an agreement with one of those and then put together the logistics on trucking the tonnage to the chosen mill. The costs per ounce would be a bit more expensive as we would have to pay the mill a per ounce fee and we would incur the transportation cost but with gold above $2100, that’s easily digested.
The upfront cost is virtually zero. I don’t see much in the way of drawbacks to moving forward this way. Based on my conversations, I believe that FF will institute a plan for this. There would be immediate revenue and decent cash flow. In addition, I think the market would view this plan favorably.
Enjoyed your post. Any idea on what kind of timeline we would be looking at for a smaller starter pit operation at Duparquet?
So, I was curious as to actually WHEN Steve Lines and his Crew were hired, I went on the Company website and found out.
Here's the link for the PR they put out on Nov. 17, 2020, and it speaks to Steve Line starting on Dec.1, 2020 That would put Steve with the company for four years in November. Time really flys, it doesn't seem that long ago.
https://firstmininggold.com/news/releases/first-mining-announces-appointment-of-vp-environment-and-community-relations
Lines may have still been working on getting the Hardrock mine permitted before we hired him, but our permitting process changed when he took over and that reset the process altogether.
All I can say is I hope you're right.
I also bought my first shares in 2016 at much higher prices and have cost averaged down about 9 cents below where you are, so I'm deeply underwater too.
My opinions on Dan I'll keep to myself, but it's a sweet and sour opinion for sure. No one can be happy with where the share price has gone over the years, and I agree with You that Dan as the CEO is responsible for the poor share price performance. I have a very positive opinion of Paul since he came onboard. I can only imagine the shit he's gone through.
I haven't talked to Dan or Paul specifically concerning the handling of the Springpole permitting, but until they hired Steve Lines and changed their procedure methods, the procedure wasn't the current one. That set us back at least a year in the process and I believe Dan should have been on top of that situation sooner. I'll admit he had a lot on his plate when he took over, but Steve Lines came onboard at least two, maybe three years AFTER Dan did.
On the subject of being at a bottom in our shares is I'm skeptical we are there just yet. My feeling is if we see a big swoon in the overall markets are some point this year or after the election that all risk assets will fall. Money will go into the dollar and U.S.treasuries until the Fed pivots and begins QE again. IMO after that happens we'll see gold and eventually the mining sector take off. I do think it's going to be interesting to see how our share price reacts to our final admission of the EA this Summer.
I'm hoping it's very positive.
Time will tell on how this plays out, but we should be getting ever closer to some sort of turning point for sure. THANK GOD.
Great post Pollisis. Right here entire time as well. Also been in contact with them a lot over the years but don’t write as well as you. Agree with everything wrote. We shall see.
This is going to be a long post. I’ve seen some posts lately about Dan’s performance and the share price. Here are some of my thoughts for what it’s worth. Full disclosure, I have been in this stock since 2016, I have multi seven figure share count and my average price per share is a little over .39 cents USD. I say this to show that I’m down a tremendous amount and I’m not happy about it. I also participated in the latest offering round where I picked up shares at .091 as well as the options.
I certainly recognize that at the end of the day, it is the CEO’s primary job to increase the share price for the shareholders. In that respect, current management has failed. With that said, we are in uncharted waters when it comes to the mining industry as it relates to valuations compared to the gold price. I just read an article a couple of weeks ago discussing how Barrick has never been at a lower valuation compared to their NPV (net present value) then now. In its entire history. The point being that this is not an issue affecting just us. It’s the entire mining industry. The valuations of mining companies follow 10-15 year cycles and we are at the low currently. I believe that we’ve bottomed and will begin a sustained move up. Historically, developers are valued at about .5 to NPV. At $1600 gold, our NPV is around 1.6 billion which means our current valuation is around .05 to NPV. This is undeniably the worst bear market the mining industry has ever seen. I’m not sure what Dan or for that matter Keith could do differently to make a difference the last couple of years. Based on conversations that I’ve had with them, it appears the plan has been to just keep working on Springpole and Duparque to advance them so that when the industry comes back into favor, everything lines up for our share price.
Speaking about Springpole, we’re very close to submitting our final environmental approval application. It’s slated for June or July of this year. It’s important to note that there are two ways to conduct this process. One way is to do your work, submit the application and then spend a couple of years going back and forth with the regulators answering thousands and thousands of questions, concerns and clarifications. The other way to do it is to go back and forth with the regulators ahead of time, work through all the issues prior to submitting the final draft. We opted for the second approach. If I recall, early last year we submitted a draft and after a few months, the regulators sent back 1200 questions. We responded to all of those and then a few months later, we received somewhere around 500 follow up questions to which we responded to all of those. This option takes more time to the point of final submission but much less time to get final approval after submission. By doing it this way, once you submit the final submission, you’re all but guaranteed to receive approval because you’ve already addressed all the issues prior to submission. Full approval takes about 12 months from final submission but it’s really just crossing T’s and dotting I’s. I asked management if there was ever an example of a company going this route and not receiving approval. The response was yes but only because a few companies ran into financial difficulties and shut down their operations not because the regulators denied them the environmental approvals. So essentially, once we submit the final draft, (June or July of this year) we’re on the clock for final approval. This is important because the smart money knows this as well. Institutional investors, big mining specific funds and most importantly, senior producers.
All of this is to say that I believe the bottom is in. Not just for us but the entire mining sector. That’s not to say that if the stock market were to crash that we wouldn’t experience a sharp drop as well but it would be brief and would set up an epic bull run for PM’s and miners. Looking at FF specifically, it appears to me that everything is lining up perfectly for a huge run in our stock price over the next few years. It appears the gold price has begun a sustained move up, we by all accounts are at the absolute bottom of the 10-15 year miner valuation cycle, we’re months away from final submission on one of the largest projects in North America that fits exactly into what the senior producers are looking for and desperately need and we seem to be moving forward on a small scale mining operation on Duparque (by limiting to sub 2000 tons per day, we can get approved without having to go through the tedious process of environmental approvals).
So what does all this mean to our share price? My guess is that we’ve seen the low (baring a near term stock market crash) and we will soon see our share price break above .10 and continue to appreciate as we head into the summer. I would bet that we put a deal together on Springpole with a major prior to receiving full approval which would be Q2-Q3 of 2025. If the gold price continues to go up (2400-2600), the sector comes back into favor in terms of valuations and we put a blockbuster deal together with one of the largest mining companies on the planet, I believe our share price will be magnitudes higher then it is now. Run the math yourself on what our share price would be if we just mean revert to historical norms of .5 to NPV with the gold price at $2600. I have and it’s a really big number. In short, I believe the stars are aligning for us over the next 12-18 months. We’ve weathered the storm that lasted many years longer than I ever thought possible.
And to Ron and Marv up in BC, since I know you’ll be reading this, hang tight, we’re very close to a breakout in the stock price.
I don't have a crystal ball to tell the future, but I think you're going to have more chances to add FMG shares at cheaper levels. That's for ALL risk on assets, not just the miners, so have your "buy" wish list ready. My view is until that time comes, keep your powder dry. I say that because we're certainly closer to a market TOP and not a market BOTTOM.
I'm going to post a recent interview with David Hunter that I would in most part agree with. He's been accurate with his macro views to date. He sees us heading for a blow-off top and then a huge bust after that. Obviously you want to buy closer to the bottom and when blood is in the streets. He also speaks
to where he thinks gold is headed, which is higher. I disagree with him that gold will rise when the market sells off AT LEAST IN THE SHORT RUN.
The gold price should reverse when interest rates begin dropping and the money printing cranks back up in a very big way. JMO
What's so laughable to me is how so called Banksters like Felon can pretend to be so neutral when they're at the Fed and be so politically biased as she is as treasury secretary. It's all just bullshit, as I perceive her to be.
If her mouth is moving, she's lying.
Watching Janet Felon makes me wish Norm Macdonald the comedian was still alive and could do a fake interview with her to really show what a joke she is.
Godamn it I didn’t pull the trigger at .073. I had the $10k in my etrade and thought the market downturn / crash would bring down the entry / avg down point to a better level.. greed cost me $2500 in lost profits.
Sigh. I hate being a coward. Come on gold price / general market, crash for me on Monday.. joking. 😢😭
Issues like this in Canada are the reason I'm concerned about ANYTHING going on in that country. If you don't have free speech rights, how can they have free markets? This is why I'm concerned about the mining industry there.
https://www.zerohedge.com/political/oh-canada-parliament-moves-impose-potential-life-imprisonment-speech-crimes
Janet Felon and Joe Biden are like two peas in a pod. If their mouth is moving, rest assured, they're lying.
This interview is a great example of that. She had to admit that she and Powell were both wrong about the temporary inflation BS they were trying to sell everybody.
The only thing that will be TEMPORARY is that prices may fall for a time before they go back up in a much bigger way. They think people are stupid and believe the crap they're dishing out.
https://www.foxbusiness.com/economy/janet-yellen-warns-inflation-decline-might-not-be-smooth
So, now even JPM is calling for $2500 gold in 2024. Gold is their #1 commodity pick for this year.
https://www.argaam.com/en/article/articledetail/id/1712700
Thanks for posting the post from Stockhouse.
This is the way I see it. Instead of Dan or Paul telling every individual shareholder what's going on at Cat Lake, why don't they schedule a webinar to inform EVERYONE about what's going on at Cat Lake from the company perspective. Maybe bring Steve Lines into the webinar to give his expert perspective too. He doesn't have to talk about what's going on behind the curtain with the Chief or the Ontario government, just speak to what's actually happening. I don't see that as being a big deal. It's called communicating.
The rest of this fellow's post just confirms what I've been saying. For Dan to get more specific about the ROAD situation at Cat Lake and to talk more in detail about how and when they might resume mining again at Duparquet. Dan apparently quelled his concerns with what he said, why doesn't he do the same for the rest of us? This wouldn't be too difficult IMO.
P.S.: The articles that Seablue posted about Cat Lake are just about the ONLY news we've had to go on here and those are and can be biased depending on who's writing the article. Hearing something right out of Dan's mouth should clear the air for everyone. It's obvious the PR about the road to the Springpole Camp being put on hold spooked investors and our share price. You would think Dan would want to quell any further concerns? Why not schedule a webinar to do that? Makes sense to me.
Insightful Call w/Dan from another board
Someone from stockhouse had a private call with Dan and posted what they talked about. Thought you’d find it illuminating and positive
So the call went well and here are the list of things I think people should take note of:
Lets start with Cat Lake. We talked quite a lot about all of the issues that have been plaguing Cat Lake, like the substance abuse, lack of good healthcare, and just a lot of poverty and social problems. The community has sort of been so overwhelmed with problems in recent years so this is one of the major reasons why the Chief has been quite upset with the government. Dan stated many times that First Mining is actually on very good terms with Cat Lake itself, he knows Chief Russel Wesley very well and the two seem to have a good understanding with each other and they keep good open dialogue. Dan also repeated many times that Cat Lake and Chief Wesley is not at all against development on their land, this seems to have been completely missed by a majority of investors according to Dan. Cat Lake has been wishing for a winter road for many years and when First Mining was issued the permit for a winter road of their own this seems to have been too much for Chief Wesley to digest, so he took the issue to court. Not because he has anything against First Mining, but because he has felt the government does not care about Cat Lake. My sense here is that this winter road issue is really what it all boils down to in the end, and Dan was quite vocal about this and stated the biggest focus right now for the company is to negotiate a community agreement with Chief Wesley. The agreement should basically cover development of the winter road to Cat Lake with the condition that they also allow First Mining the rights to continue the progress on the project development. Dan stated First Mining has done and funded lots of engineering and environmental work already on how this potential road would be constructed to Cat Lake, so basically it’s all there ready to be developed as soon as the parties can come to an agreement about it.
I really got the feeling and noted that Dan actually cares a lot about this community and he really seemed to show a lot of sympathy for the Chief. This is very important to keep in mind for investors because this community agreement requires the Chief especially to feel his community is being included in the whole process. If he would not trust Dan at all then this would be a real issue for me. They really seem to be on good terms and that made me feel very good about this issue getting resolved in the end, especially when Steve Lines (head of EA) is also involved in the negotiations. Other than that, Dan said basically the government is on board here completely because the leverage with them is very simple: The project will generate an enormous amount of wealth and jobs to this region, which for the government means lots of taxes and infrastructure being developed. He said many times this would probably be the major factor in the end to also get Cat Lake on board because they would benefit immensely from the project being developed, the road would just be the start. They are still working together on the Indigenous Environmental Assessment (done by Cat Lake) and First Mining is funding this as well. First Mining has received lots of feedback from Cat Lake about fishing, caribou movement and other Indigenous concerns which they will address in the final EA. I asked many times if there are any major disagreements that have come up from the Cat Lake led EA which would collide with First Mining's EA and Dan said basically those issues are already known and relate to the previously mentioned impacts on the wildlife there. They have included all kinds of mitigation measures for this in the final EA, so I'm not concerned about this at all.
All in all, my biggest take away from this whole issue with Cat Lake was that reading the news about this really gives you a completely different picture than knowing what is going on behind the scenes. I had previously written about my own "analysis" of this whole situation and basically it was correct, except that I know got to know Dan better and was able to read between the lines that the man really cares about this community and is deeply committed to resolving this and any other issues with them. We really could not be asking for a better CEO here guys.
Regarding Duparquet: We spent almost all of the call time discussing the Cat Lake issue so I really had to squeeze in all of the rest of the questions, but I would like investor to really focus on what Dan said about Duparquet. He was pretty surprised about the fact that most investors (in his view) have completely missed what is happening at the project and the potential they have there for getting a starter pit operation going. They are doing major drilling work this year and are in the process of trying to grow the resources and if they succeed in what Dan thinks is possible, the deposit could grow to potentially 8-10m ounces. Dan also reminded me many times that this starter pit operation would basically be easy to get going and required very little capital because most of the infrastructure is already in place. You just need the permits and make some agreements with a few contractors and basically the operation would be cash flow positive from day one.
Other than this Dan stated many times the company has a committed shareholder base (including Keith) which will fund this company to the finish line and stated with a very serious tone that his own personal/networth is pretty much tied up to the success of his company. I think we can all rest assured this man works day and night to make this company's vision happen.
I bought some more shares yesterday after the call simply because I really felt good about it. Will keep adding to my position as long as we stay in this 10-20 cent range.
I have full faith in these people getting us to the finish line.
Like the positive attitude as always. Did we not say that say thing years ago when Gold was 14, 15, 1600. Now it’s $2,156. Seems we did. I certainly did. How wrong I was on FF. And how wrong we remain. Well. Back to positive thinking
I heard it again today, a regular guest on Charles Payne's show, was talking about buying gold miners.
This is a guy that is normally very bullish tech stocks. He said the miners were cheap and their company was buying select miners. He also made mention of what we already know that the mining shares rise AFTER gold makes its move up.
IMO this is a very bullish sign for us. The MSM is starting to talk about getting into the mining shares. A continued higher move in the gold price will stoke the fire for investors to get in soon.
Heard something on MSM biz news this afternoon that's rarely ever talked about. The gold miners. WOW
A guy came on speaking to the gold price breakout and that a higher move would be very beneficial to the miners. He then went into a talk about how undervalued and beat up the miners are. He showed the Van Eck gold miners chart. Not very pretty.
Maybe if gold can hang in there, the miners will begin picking up also. Hope springs eternal.
I hate to admit it, but Dan being hired to run FMG all comes home to roost with Keith. As You say Dan's getting a very nice paycheck and to this point the only problem is for the suffering shareholders. US Keith's not stupid, he can see what's going on, but IMO his hands are tied to dump Dan until AFTER this permitting finally gets done. Whenever that happens? I think there's a high probability of that happening.
IMO Dan's overall demeanor doesn't exude much confidence. He makes a lot of excuses for why our shares are suffering, but has very little to say about how he plans to fix the problem. Mining Duparquet is a perfect example, he says we may get it up and going again, but has zero specifics about how it gets done.
Just a lot of lip service IMO.
That's about all the ammunition he has currently. To talk about what he hopes can get done. JMO
Agree on Dan being unqualified for CEO. Too passive, nonchalant, and not cutthroat enough. Total soyboy beta. He-he har har, bringin valueeee but I dunno why shares no go up 🤭🤭 oopsie
I always got used car salesman vibes from him. I don’t care he deserves all the trashing he gets now. He’s been sittin there laughing his ass to collecting his half a mil a year at our expense. No more Mr. Nice Guy
I think we're going to be waiting for some time to come. Maybe I won't die of old age before our shares move higher. That's another thing Dan and Keith have to understand, there are many shareholders here that have already been in this stock for 8 or 9 years with no return whatsoever. We're more underwater now than we were in the beginning.
IMO Keith has most likely been STUCK with Dan to some degree. Keith has had his own problems at Jarrett Canyon to deal with. and I think that has him too busy to juggle along with FMG, so Dan has to stay. I personally think Dan never had the chops to be the CEO of a mining company. Why? Because his background was in financing mining operations, not running them.
He's had a lot of on-the-job training in the 5 years he's been here, but the results speak for themselves.
I'm still positive on how this can turn out, but I think it could have been done much better.
Not being negative. Gold looking great. FF continues struggling. I’ve talk to their team and visited as much as any here or more. Dan and Paul no doubt continue trying and I believe in them but NO results whatsoever so ever on SP. Remain waiting with this team. Very surprised however Keith has allowed this so long with no positive momentum. Is what it is. Remain waiting.
Thanks for posting all those articles, almost everyone of them gives a little something that another doesn't. Although the main topic is the same.
I'd add this part of what Paul told me that I don't think I mentioned before. He told me that prior to his coming to work for FMG, Steve Lines was working to get the Hardrock mine permitted. Paul said there were THREE tribal communities that were in opposition to that mine being built and Steve got it done.
To my knowledge our only opposition currently is from Cat Lake, so maybe the hurdle we have now isn't as high as what Lines has done already? Time will tell, I guess.
Hopefully FF will be in a position to catch and ride that wave. Delays won't help.
A few more articles. Roughly the same as the other ones, but this is the first I have heard about concerns involving area trout.
https://www.mining.com/legal-battle-looms-amid-cat-lake-nation-first-mining-road-dispute-in-ontario/
https://miningconnection.com/surface/news/article/pause_issued_for_first_mining_golds_construction_of_winter_road_for_its_spr/
https://www.nwonewswatch.com/local-news/cat-lake-first-nation-shows-opposition-to-premier-and-proposed-gold-mine-7875259
https://www.northernontariobusiness.com/industry-news/mining/northwest-first-nation-wants-to-bring-a-stop-to-mine-road-construction-8350126
Agree. IMO once we get a nice move higher in the gold price and investors start moving back into the miners, we should see some fairly rapid moves up in the mining shares. The news they put out has to be favorable also. When the bull market comes back into play having good news will propel the share price much higher.
Agree with you, 100%. The trick for all of us is to walk the tightrope between acceptable returns and unacceptable risks. This stuff isn't easy, LOL.
COminer, I'll make another valid point about why IF gold continues to move higher, like Dan himself has advocated, that the chances of every gold mine on the planet has increased odds of being nationalized. This isn't rocket science, just simple logic.
We're currently at $2100+ gold right now, what happens with gold at $5000 say by 2030? Well, my best guess would be the world is having a LOT of problems.Those would include geopolitical events like more war, continued excessive debt being taken on by governments and individuals. Also a grossly overleveraged banking system (derivatives). All being conditions ripe for higher PM prices. We also know that in time the inflation monster will return in a very big way with the return of massive fiat money creation.
The crook-politicians running the various governments may be thieves, but they're not stupid, so they'll finally see the need to own gold at these higher prices, maybe not so much now, but when fiat is still a manageable option. So, IMO the socialists up in Canada will be forced to nationalize the miners at some point. Most likely every country that has gold being mined will be forced to do the same, just to stay solvent.
Whether The Powers That Be reprice gold higher or the market eventually takes it to nose bleed levels because faith in fiat money is lost the outcome will be the same. WE NEED GOLD TO BE RELEVENT AND STAY SOLVENT..Why else would all the central banks be hoarding gold now? Canada doesn't even hold any gold currently, but there's plenty there if they need to nationalize it.
Dan may not be smart enough to figure this out, but it certainly makes sense to anyone that sees gold moving exponentially higher from current valuations. As fiat continues to lose it's buying power what else do they have to go to? I don't think it will be Bitcoin. They're hoarding gold.
Dan admitted in one of the recent videos that Seablue posted, that they didn't even have the right people in place to do the permitting correctly.
That was only AFTER they brought on Steve Lines and his Crew. Dan's been there 5 years, Lines maybe only 2. I'd have to go back and verify when he was actually hired, but my point is that Dan has been behind the curve in getting things done. I remember Dan also admitting that the Springpole permitting process had to start OVER and begin from square one when Steve Lines came onboard there. That put the process behind over a year or more.
Why didn't that process start within Dan's first year there? It took Dan 2 or 3 years to find out the Springpole permitting process wasn't being handled correctly. IMO that was the most important task he had on his plate from the day he took over.
I'm not here to bash Dan, but I certainly can't praise him for doing what I believe to be a much less than stellar job. I also believe that another reason for our poor share price performance is a lack of faith in him within the industry. That insane laugh he has doesn't help either.
Boss: Why are sales down? You’re our lead sales manager, why aren’t you performing?
Salesperson: I dunno, dat market is boomin, people are callin, I’m tryna unlock dat valueee holmes.. but..but…. Hehe… ah-hyuck (goofy sound)… no one’s buyin it makes no sense ¯\_(?)_/¯
Boss: Kay I’ll keep payin your salary I guess tomorrow’s nother day
Dan in a nutshell
And that is the time when FF should be putting out promotional videos.
You’re right our only hope is a rising tide that lifts all ships.
Sentiment changes, people shove money into anything with the word mine or gold/silver on it, and sentiment on perceived future prosperity gets our share price up, we sell and cash out before the shit hits the fan and immediately put the money into hard assets to get out of fiat, be it property or gold etc.
I'm not counting on what the share price will be by the time Springpole is constructed and operational. That is WAY DOWN the road for sure.
The share price will move prior to any constriction starts. The big investors want to see that the project will be financed and all the hurdles we're currently facing are behind us. That's the key.
If this shit keeps dragging out then, yes, we could run out of time, but I think the Canadian government wants to see an OPERATIONAL MINE, producing gold at Springpole before they can take it over. Planning to build a mine there doesn't get the gold out of the ground and into the bank.
Well said COminer. Thanks for sharing your thoughts.
I'm in total agreement with you. I personally think Paul in IR is more straight-forward and honest than Dan is. Dan is just too much of a "smoke blower" IMO.
He's been in charge for five years now and the share price has done nothing but crater. He should take responsibility for that, and he just laughs it off. That can't sit well with shareholders. It damn well doesn't with me.
COminer, he can't come out and say it. That would be like cutting his own throat. I think Canada would nationalize gold miners and any other industry they had to if it came to down to the country's solvency. That's exactly the reason they want more mining to happen. The timing of such an event would be critical for shareholders in any Canadian miner. My hope is that we still have a few more years before such an event could happen, but I agree with You, it CAN HAPPEN. No mining company would ever admit to it.
I also agree with your last sentence. This will be fine if we can wait it out. The share price will move quickly once and when we finally get Springpole permitted and make the Natives happy. I'm staying as positive as I can under the circumstances. LOL
P.S.: It's finally good to see the gold price making a move higher, maybe that's a macro positive for the miners in general. We'll see.
Dan’s a good, GREAT bullshitter. Used car salesman.
We needed an Amir Adnani, cold and shrewd, not this “hehe I dunno just here unlockin valyoooo ” beta. An Amir would’ve not let Pickle Grow go for so low, been more aggressive and astute. Dan just chuckles and shrugs his way into collecting his 500 grand a year salary while the rest of us get the shaft. All the while bs’ing nonstop.
2-3 years? You guys saw that book the great taking by David Webb right? If he is right, when that happens, mines are nationalized, brokerages confiscate our shares and money, OR the dollar collapses totally before FF finally thrives.
In other words, by the time Springpole actually happens, so many bad things can happen in the interim that would cause us to lose everything anyway. Great we’re on the way to permitting and gold’s moving up! Won’t mean shit if the mine is gone or our shares are taken because you all took too long.
I spoke one on one with Dan about two weeks ago, first time in several years we have spoken. The conversation may as well have been a recording from 5 years ago since absolutely nothing has changed other than our share price has plunged down in a straight line and our total shares outstanding has gone parabolic. Nothing of substance came out of that conversation. The only interesting moment was when I asked Dan with a straight face what he thought the probability is of the Canadian Gov nationalizing mines once the shit hits the fan. Dan laughed that goofy laugh and said "never gonna happen". I totally disagree 100% and Dan is either naive, or just can't say those words out loud as CEO. I have diminishing faith in FF being a grand slam, but I think it can still provide a good return if you have the ability to ride out another few years of misery. Stay positive....
Gold technical analysis. He seems to think in the short term the current price move is overdone, but he's bullish long term and a buyer on weakness. We will see some backing and filling before a significant move higher IMO, but it's much closer to happening now that we're finally through the old highs. Finally.
I'm not sure why Keith chose him to head this company. Dan said he cold called Keith and interviewed for the position and Keith hired him. Hmmm. Maybe he bamboozled. Keith into hiring him? I don't know, but I think Keith could have done a lot better.
The Natives know their only chip in the game is their ancestorial land, so they have to milk it for all it's worth. Everybody knows that. Governments all over the world have fucked their Native people and of course say they're helping them. LOL
"We're the government and we're here to help". Yeah, help STEAL your wealth.
This shit has been going on for a long time and will continue to go on until ALL the native's lands are used for the government's needs. Sorry, Chief go fishing or moose hunting somewhere else, we need this land for the government to make a buck. Fuck you and the 650 people at Cat Lake this is for the greater good of all.
Why keep posting videos when you're saying the same thing over and over again? That's exactly what Dan keeps doing. Interested parties want to know why the FMG share price will be moving higher, not why You (Dan) can't figure out why it's so undervalued and beat up down here. Our shares are selling off because people are concerned about how long this is all going to take and as we all are aware, it just keeps being pushed back. They're not making the timelines they say they would make. This is the root problem, not being talked about IMO.
To begin mining Duparquet is a lot easier said than done. How soon could it begin? Do we currently have the permitting or the money to even start such an endeavor? NO. So, Dan give us some specifics about how mining Duparquet would become reality. I don't think he can, because unless he has someone behind the curtain with a LOT of money to throw at mining Duparquet, he's just talking. We need more cash by the end of this year and mining Duparquet is much further off than that.
I don't remember a time in recorded history when natives/indigenous people haven't been fucked by the presiding government. It happens as a matter of course.
The only route the Chief has is to call them out on it and make an attempt to milk as much from FMG as he possibly can. Everyone in the room knows that.
So, that will be the on-going battle. How long this takes IMO is anyone's guess. If Paul knows what he's talking about then at some point after we get our permitting and government approval the Natives should fall in line and come to some sort of terms with us. The question is when will it happen?
Dan’s really earning his $500k salary. Laughing and joking about the share price plummeting to the abyss.
He’s always struck me as a used car salesman. Smooth talks and dances around issues. At this point we’re too committed to let him go and find a replacement.
These hippie natives are such parasites. You had this land this huge mass for thousands of years and the pinnacle of your accomplishments were mounds and huts, then Europeans came and transformed the land and the world into what it is today. All they do is play victim, whine, bitch, and ask for handouts. Morons.
Same for the natives here, U.S has given toooo much power and concessions to these idiots. All these tribal lands that are sovereign and basically mini countries inside America that can do WHATEVER THEY WANT to you without civil recourse.
Like I said before, maybe fewer videos and put that time toward something else. I know promotion of the company is important, but working on advancing the game plan and thinking up different approaches might prove more valuable. Just my 2 cents. Easy to talk when you're not the one running the show.
That is EXACTLY what I am hoping he meant. If they could just get some type of money coming in that would really put concerns to rest. Problem is they are years away from doing it. Meanwhile as Implanting has pointed out we continue to see dilution. Salaries and other expenses have to be paid. Without a revenue source of some type in the next 2 or 3 years we will be diluting even further at the worst time - when our share price is down. I know patience is a virtue. I have been in this stock since 2015 so I would say that qualifies as being patient. I do think there is still great potential here, but I am disappointed by the situational setup.
I also think it painted a slightly more negative picture. Maybe the chief is just upset that the Ontario government won't give him what he wants and FF does not have the money to do it (yet). The chief could have had poor interaction with the Ontario government in the past or maybe the government recently failed to keep promises that were made previously unrelated to FF. It would be nice if we had more background information.
I have also noticed how the timelines keep getting pushed back. I remember a while ago the timeline was the end of 2023. Then it moved to 2024. Now it is 2025. I am waiting for 2026.
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