First Mining Gold Corp (FFMGF)

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We were talking about First Majestic and the problems they're facing in Mexico. Well, here's our buddy. Lobo Tiggre, speaking directly to those issues.

Listen to what he's saying. Basically, that Mexico COULD be banning any open pit mining there in the near future. I don't see how they would go about stopping any current mining operations that are currently operational. That would be taking food out of people's mouth, so I don't see that happening.

No wonder Keith is looking for other areas OUT of Mexico. The risk to even trying to open a new mine in Mexico may be nonexistent in the future.
Time will tell on that happening.

https://goldsilver.com/blog/silver-alert-could-this-mexican-law-change-cause-a-supply-crunch/

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I'm going to post this Kitco excerpt again because it's important for anyone investing in the country of Canada to know. This is from the recent discussion that Pierre Lassonde and Frank Giustra had about the Canadian resource area.

What they're saying about the way the government there is running is definitely NOT GOOD. We can all relate to how long it takes for mines to be permitted there and it's far too long. Canada has more resources there than almost any country in the world and they're not recognizing it. Very sad.

I suppose this is the socialist way of doing things. Invest in everywhere else except your own country.

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Just got home in time to catch the end of Charles Payne's show today. He had Peter Schiff on talking about gold and some other Bimbo talking about Bitcoin.
I laughed.my ass off at the back and forth between them. IMO Peter ate her lunch. He was telling her she had better sell her Bitcoin holdings soon because the bottom was going to fall out soon. I think he's right, Bitcoin will have a far more violent downturn in a bad market than will gold. We're seeing that happen today.

Bitcoin is down $4400 as I post, and gold is UP $24 bucks. The real safe haven play is gold of course. I saw where Goldman was calling for $2700 by year end. Nice.

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I would add this to the First Majestic/Jerritt Canyon saga conversation. This was back last year, when Keith was being interviewed by someone about First Majestic events. The line of questions to Keith was about JC and what they were doing to fix the problems there. He went into all the things they were working on, but the big take I had was he said that there had been a lot of interest from other companies to BUY JC from them. What I took from the conversation is that it could happen maybe for the right price.

If First Majestic sold JC, then I would say that the chances of some future deal or buyout of FMG by FM would be exponentially higher because that would free their money up to make another acquisition, namely FMG. Selling JC would make it a hellava lot easier to convince FM shareholders to do a deal for us.

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I would like to get some sort of update from Dan about what's happening with the starter pit operation at Duparquet. IMO the biggest question to be answered there is how long will it takes to be permitted for actual mining to begin or to maybe get into the old tailings there? Dan should know that already. He's talked about starting some sort of work to begin there, but he's not been specific or to date followed up on those statements. He's talking favorably about it, but not following up with any facts. Maybe I'll have to go to Paul this week and speak to him.

I've heard several interviews that Keith's made in the past speaking to diversifying First Majestic into mining more gold. I think that over the years he's come to the realization that because the silver price is so volatile and stays closer to the bottom of its price range, it's much more difficult to run a company under those parameters. I would agree with him. Gold's price is much more stable AND reliable. For obvious reasons he can't directly come out and say this is the gameplan, but I would agree that he wants to "quietly" get out of Mexico and into safer mining areas. Jerritt Canyon to this point has been a bad move for FM, but if anyone can turn it around, I would bet on Keith doing it. Higher gold prices will certainly help.

In the last webinar that Keith was on with Dan, someone asked the question to Keith about FM buying/partnering with FMG. His response was somewhat disingenuous to me, his response was one of like he had never thought of doing it and he made mention of having to get with the First Majestic shareholders to get their approval. IMO the FMG properties have been on the table since day 1 for First Majestic. Who knows these assets better than Keith himself. Nobody.

I also believe that any potential suitors for FMG know this too. In fact, Dan told me several years ago that was the case. That if any hostile, lowball offers were made for FMG that FM would have our backs and get involved to bid up the assets.

I personally don't care how they choose to start mining at Duparquet, but what I do want them to do is move as quickly as possible to make it happen. Dan spoke about this right after we acquired and consolidated all of Duparquet. He keeps talking about it without giving us any details on what's going on. What's taking so long? This is information that already should be known by him.

[TommyJ7651]

Thanks that was an interesting take on our situation. What really came to my mind here is again the potential starter pit operation at Duparquet and how that could start near term cash flows for the company. Again, I am not at all sure about the overall math here but still quite confident this starter pit operation could produce in excess of 10 million in annual profits at current gold prices. This in of itself would be a huge catalyst for the share price because essentially it would turn us into a producer, a small one for sure, but still a producer!

I also watched another recent interview with this same gentleman Lobo Tiggre and he is actually very bearish on the future of Mexican mining. Dude is half Mexican himself and has lots of contacts there so I would take his views quite seriously. When you think about this it also explains quite a bit why Keith suddenly bought Jerritt Canyon, a gold mine, even though First Majestic is a silver mining company. Keith has been sort of quietly saying in recent interviews that First Majestic is now actively looking for other projects in USA and Canada.

I can definitely now see the writing on the wall where this is likely to go because geopolitical risks in mining will be a very big thing going forward. Just look at what happened also to that copper deposit in Panama which they just shut down. When the majors/mid-tiers are looking at future gold deposits to acquire, I can almost assure you they are now taking the question of jurisdiction very seriously. As far as I know, miners (and also investors) used to care much more about technical risk than jurisdiction risk, but this might flip now so that they are more willing to take technical risk for the benefit of having the deposit in a safe jurisdiction i.e. USA or Canada.

First Mining sits on two of the best undeveloped Tier 1 gold assets in the world and they are both in what is right now probably the best and safest mining jurisdiction on the planet. Springpole is almost permitted and Duparquet has a potential near term starter pit operation in the cards.

I really think there is close to a zero chance that very soon a major won't snap up these assets or form JVs with FFMG simply because I don't think they can afford to miss out. I think they must be willing to take some permitting risk in Ontario for the benefit of getting to develop these billion dollar assets with future gold prices.

Regarding First Majestic, I can now definitely see Keith looking to make a major move here simply because I think he feels the Mexican operations First Majestic has going there might be in great danger going forward. I really don't think the Mexican government will nationalize the assets, they will just make it more or less impossible to permit new silver mines. This would mean that First Majestic could benefit enormously from a silver supply crunch and get huge cash flows in the next few years which they could then use to acquire assets in USA and Canada. Like I said, Keith has stated in recent interviews the future of First Majestic is outside of Mexico. I used to be a shareholder in First Majestic as well but I would definitely be worried right now with Mexico and it would be perfectly fine for me to expand more into gold which is much more stable in pricing. I think this is what Keith is trying to communicate to his board and shareholders as well.

The best possible outcome - and also what I would do in Dan's situation - would be to try and propose a JV with First Majestic to start developing Duparquet as a starter pit. Keith & Dan know each other so well at this point I mean it's almost guaranteed they must have discussed this possibility? This would really be the best possible catalyst I think for the share price. Then we could wait for Springpole to get its final permits and community agreements in place while we are collecting good cash flow from Duparquet and also start advancing that project further. When Springpole gets its permits that would then send the stock price in the the stratosphere I think.

Also I recommend to watch how Keith is talking about these assets in all of his interviews. It really feels to me he is very protective and greedy with these deposits (and for good reason) so he will for sure fight to his last breath to get the best possible deal here for FFMG. I think he really likes to be in control of these so that is why I'm betting quite hard on First Majestic eventually acquiring at least one of these deposits or forming a JV or even buying the entire company outright if the Mexican situation gets really bad. Right now the entire gold/silver mining industry is in a "fight & die" situation so you need to make bold moves and you need to make them soon if you are going to survive.

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O.K., I'm posting maybe one of the most specific description of what our company, FMG has going for it moving forward. This dicusssion between Rick Rule and Lobo Tiggre speaks to "The Pre-Production Sweet Spot".

This is the path FMG is currently on. I recommend watching the entire interview, but at around 29:10 in the video Lobo begins talking about the sweet spot. Listen carefully to what he talks about and how to invest it. IMO what we really have going for us here is as we're moving into the sweet spot the PM bull market is beginning in earnest. This IMO is the perfect storm for a big move higher in our share price, when the pieces of the puzzle come together. Note what Lobo says about SOME mines getting the funding even prior to all the permitting being in place. Imagine what that would do to our share price if that should happen.

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I don't recall ever seeing Jim Thorne being interviewed before, but he is amazing. This interview is a must watch for anyone investing in Canada, as most of the conversation revolves around Canada and its problems, as Thorne sees them.

He lays out in detail the train-wreck he sees coming as a result of run-away fiscal spending and the implications of MMT. Thorne speaks mostly about how Canada is in a place even worse than the U.S. and when the SHTF moment comes the population in Canada could even revolt because of where they may end up.

He sees deflation coming down the road, but we're not there yet. He likes gold and Bitcoin as investments going forward.

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A really big swing in the gold price today. Went as high as $2448 and as lower as $2350. It will be interesting to see how it moves next week. It wouldn't surprise me if we see some consolidation coming very soon.

https://www.marketwatch.com/investing/future/gc00

[TommyJ7651]

Yes! I think I also read on Zerohedge that China has recently disclosed its new gold holdings, something it has not really done for years. I guess they reported for many years their holdings as "unchanged" something almost everyone in the know knew was a lie. So this would also add up well with your point that China wants a bigger say in the global pricing of gold and would also explain the very strong rise of gold in the last months despite the stronger dollar.

I think we have entered a totally new era of commodities pricing in general and people are just now starting to realize what is happening.

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The fact that China, Russia, and the BRICS countries are moving to more dedollarization and are loading up on gold I think sends a big signal to the U.S. and it's allies. Not to mention that all the central banks are doing the same and also buying gold.

The Fellow in the interview I posted yesterday was making the claim that China has let the U.S. know they want a higher gold price or else they accelerate their current dedollarization rate. We know China has a hellava lot more physical gold than anyone expects them to have and now it would seem they're flexing their muscle to force a higher gold price, hence they ARE in a way dictating the price of gold now. That's a problem for ALL fiat currencies, not just the dollar.

IMO a big problem the U.S. may face is how much physical gold do they really hold? IMO there may be some real questions about those numbers, especially since they haven't had an inventory of it since the 1950"s.

The Banksters have to be concerned about how high the gold price will move in the next few years, because the higher the gold price goes the more competition the dollar and fiat currencies worldwide have against REAL money, which are gold and silver. They don't want to see the price move too high, too fast. It throws up big red flags to everyone.

[TommyJ7651]

Already forgot about this clown 😃 The dude was an absolutely amazing contra indicator some 10 years ago or so.

Gold will most likely correct at some point but the strength of this current rise has been incredible. It really feels to me what Luke Gromen has been saying for years which is that the pricing of the gold market is not solely in the hands of the Western banks any longer. The legacy pricing mechanism has been broken down and I think China has a massive influence on global gold prices these days.

We could be very well looking at a trading range of 2500-3000oz gold in 2025 if not sooner.

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I'm reluctant to post this interview in the belief that Dennis Gartman has some sort of curse regarding his bullish calls on investments. Needless to say, Dennis is very bullish gold and says so in this Bloomberg interview.

Maybe the PM's won't take a big dive today after this is posted. LOL

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Gold and silver are spiking higher this morning. Gold is up above $2400/oz. and silver is up a buck, well over $29/oz. This is getting interesting. Geopolitical issues are playing into this move. Iran threating to attack Israel. That would send PM's through the roof if it happened.

You would think that because the inflation numbers were up the PM's would be down, no, IMO we're seeing a big momentum move in the metals now. I believe everyone's piling in to ride the wave higher along with the geopolitical issues out there.

https://www.marketwatch.com/story/gold-barrels-past-2-400-to-a-new-high-theres-not-much-standing-in-its-way-say-analysts-a0122e61?mod=home-page

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We know you must walk before you can run, but it makes much more sense to me if they could do a JV deal to get some gold mining going at Duparquet. IMO that's what they should be focused on getting done NOW.

I only advocate to JV with someone at Duparquet for the cash the partner would bring to the story. We don't have the money most likely if we chose to go it alone and it would over-extend us in a big way. Maybe we could do a deal with a working mine in Duparquet's neighborhood that could also aid in the actual mining and milling of gold from Duparquet? This isn't rocket science, if I can figure this out, surely our Management can too. All these options need to be explored.

Why couldn't they do a deal that only allows our JV partner access to a certain amount of ounces at Duparquest? Not reserves found there in future years. Limit the JV partner to participate in say 2-3 million oz. and no more. That way we don't screw ourselves down the road when millions more ounces are found. Springpole doesn't even have to be in the mix unless Keith wants it to be.

The main objective should be to move on this quickly and not mess around. We're burning through our cash every passing day, so the quicker we can mine gold at Duparquet the more credibility we have as a company. At that point we're not a developer anymore, we're a producing miner.

As the gold/silver price continue to rise the negativity is going away. I watch a lot of business TV and the sentiment for gold and silver is rising daily. A higher price fixes everything.

[TommyJ7651]

This is actually very well laid out and is precisely how I would also like to see the story develop. I'm not really sure how much cash flow they would be able to squeeze out from Duparquet if they got that operation going all by themselves which is very possible considering the low start up costs if they don't need their own mill. My understanding is that they would need to keep the starter pit operation below 2000 tonnes of ore per day. The tailings contain about 0.9g of gold per tonne so we can maybe have a rough estimate of around 40-45 ounces of gold per day produced if they process around 1500 tonnes of tailings per day. This would indicate revenues of maybe 20-30 million USD per year (at least) with current gold prices. I have no idea how much the costs would be for this kind of operation, I would assume maybe a gross profit of maybe 10 million per year or so at least? This is completely speculation on my part, I really have no idea but we can certainly conclude that at current gold prices this starter pit operation could provide very nice near term cash flow for the company. First Mining could then further develop Springpole with this money as needed while also growing the Duparquet operation every year until they get the permits in place there for a bigger operation.

If they could then partner up with First Majestic to develop Springpole as a JV with all of the needed permits in place then I can easily envision this company being valued in the 1-2 billion range (CAD). This would really be the dream outcome. First Majestic already owns a silver stream interest in Springpole so it could be very possible that they would want to partner with FFMG here.

Keep also in mind that the company still has JV interests in both Pickle Crow and Hope Brook. Pickle Crow is by no means a small deposit, it's almost 3 million ounces inferred so there is definitely economic value here as well if this project gets developed. The new mining legislation in Ontario (Build More Mines Act) is exactly meant for deposits like this to get developed faster.

I also sleep very well at night even with all of the negative sentiment in the sector currently. I think Duparquet really is the ace in the sleeve here and they really need to focus on that operation to get it started asap either by themselves or as a JV.

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This is the way I see a dream scenario playing out for FMG and Shareholders of FMG.

Get a JV deal to fund mining again at Duparquet asap. That would allow us to get some real cash flow going in the near term and also be a big shot in the arm for our stagnant share price. Without knowing exactly how long it would take to get the permitting to resume mining operations again at Duparquet if we were to partner with someone with deep pockets to begin mining gold there again IMO that would be HUGE for us. That's just for Duparquet.

What we could do at Springpole is another story. Once we get some money flow going at Duparquet why at that point wouldn't they want to consider keeping Springpole for ourselves or merging with First Majestic to fund building the mine? That strategy makes a lot of sense to me, as Springpole is much farther out on the horizon timeline. If the gold and silver prices move to the levels we expect them to move in the next few years First Majestic would be rolling in cash and would most likely be looking to invest in other projects, like Springpole. Keith wants to diversify more into the gold space anyway. so like Jerritt Canyon that would be a move more into gold mining and be a more stable solution for First Majestic. He doesn't like the big price fluctuations that silver exhibits.

IMO much of what they decide to do will be the availability of credit and how high the price of gold and silver will be AFTER we finalize the permitting of Springpole. My guess is that by that time we'll see much more merger activity in the mining sector and BIG investment money coming into the sector.
That's been a major problem up until now, but will most likely be a major factor in how they proceed at that time. My feeling is the environment will be much improved then from what it is now. We certainly should see lower overall interest rates by that time.

I would agree that our Management has many options to weigh before finalizing the direction they take, but the pieces of the puzzle are starting to fall into place and I feel very good about the Man steering the ship is Keith Neumeyer. He knows what he's doing and that's the most important factor.

I can also sleep good at night knowing that IMO the majority of shares held in FMG are in strong hands. I base that opinion on thinking that as low as our share price has gone in the last several years most people that hold shares now are in it for the long haul and want to see big returns down the road.
They know Keith and what he stands for if they hold for later share gains.

[TommyJ7651]

Thanks, will watch this later tonight. I also recommend to watch the latest youtube Q&A video with Luke Gromen (channel is called "FFTT"). He talks about why China has a much more powerful role in gold pricing compared to the past.

[TommyJ7651]

The dream scenario of course would be an announcement to develop both Springpole & Duparquet as JVs with First Majestic Silver and eventually merge these two companies into one giant gold/silver miner long term. Keith has always been known and shown that he is willing to make bold moves. But since First Majestic just bought Jerritt Canyon (a gold mine) into their portfolio I think that will take most of his attention for now. Still, it certainly signals that he is looking to expand the company into USA & Canada in the future and is probably considering other gold assets as well. He even stated in a recent interview that the idea of First Majestic buying up First Mining had crossed his mind. If silver prices were to make new all time highs then I believe the huge cash flows at First Majestic could open up some very interesting possibilities.

Keith has stated many times that his goal with First Mining has been to create his third billion dollar company, so whatever avenues will make it possible to achieve that goal is probably what will take place. If it was up to him I definitely think he would like to keep as much of these assets inhoues as possible and develop them within FFMG. But financing is always an issue so that has to be considered.

The reality is that there is so many possibilities how this company could develop going forward with Duparquet & Springpole it is quite hard to predict how this story will unfold.

JVs with big/midtier producers are definitely my preferred choice since these options would probably be perceived as least risky by the market and the reward would probably be a massive increase in the share price. Having the support of a major who takes on the responsibility and financing/operation of the mines cannot be underestimated. Sure this would leave FFMG with probably 20-30% interest in the mines in the end, but hey if the major takes on all of the development risk then why not?

I would absolutely hate it if this company would be taken out too cheaply after all these years of hard work by management and waiting by long-term shareholders, but sadly that's part of the game. If it comes to that then I guess we will have to take whatever gets offered, but it will be decided by shareholders in the end.

One thing I am very certain of is that at least one of these assets (most likely both) will get developed into a big producing mine. Investors really don't seem to understand how rare tier 1 assets in Canada or the US are. It's not like you can just go out there as a major and buy up a lot of tier 1 assets whenever you feel like it. There really are just a handful of these around. Moreover, there are really few tier 1 assets that are as far advanced as Springpole. Duparquet is also unique because of its infrastructure and location. It also has the potential to become a monster 8-10m+ ounce asset with further drilling over the years.

We are really in the final stages of this boring "permitting phase" right now. The company is well funded for now to take us to the finish line with Springpole fully permitted and plans to develop Duparquet as a starter pit.

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This is a VERY interesting interview. I began watching it because of the title "$4K gold on massive changes to global finance" but, the channel on UTube this came from is called "The Bitcoin Layer", which I thought would have very minimal commentary on gold. Boy, was I wrong.

The Fellow being interviewed gave some interesting insights as to issues and events he sees that are positioning gold to move higher in dollar terms. Probably the main reason is because of dedollarization and that China, because of their ever-increasing stake in gold is requiring from the U.S. that it play a larger role in the financial system. He gives some interesting reasons why that will most likely continue to unfold going forward and why gold is very undervalued here.

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I believe it should be very clear to everyone now the gold price has broken out to the upside, and as You noted, there will be backing and filling along the way. That's a healthy thing, but the blue-sky potential now for a big move higher in gold and silver has finally come. IMO this is the event most of us have been waiting for what seems forever and has now changed the landscape for the miners. This is, of course, macro in nature for the sector. A rising gold price should raise and bring attention to ALL the Players in the sector. Another factor we've not seen in a very long time.

I think we can agree that the specific milestones coming for FMG are very significant for our share price. Those you listed are important for sure. IMO the most important UNKNOWN is how will FMG financially fund Duparquet and Springpole moving forward? Specifically, do they want to do a JV deal or partnership with another outside party or is their intention to keep at least one or both of those properties in house? By in house I mean doing some sort of merger with First Majestic.

I would expect those decisions to possibly be set now or to happen in the very near future. Any potential outside partners know NOW that a higher gold price is inevitable and the price for gold/silver resources in the ground are only moving higher. I would expect any potential Suitors for some of our assets to be moving to do a deal no later than the end of 2024 or Q1 of 2025. IMO the longer they don't get a deal would indicate to me they want to develop our properties ourselves. That's strictly a guess on my part, but it makes sense to me.

How do you see it?

[TommyJ7651]

Yes, I actually follow Felix Zulauf quite a bit myself since he has been more or less spot on with market developments in the last few years. He has been calling for 2500 gold this year, but he has also been anticipating a dip first in gold before we reach those levels. I also expect at least a minor correction here soon in Q2 because we are getting very overbought short term, but this is a temporary thing no doubt. If this dip comes and mining shares will not make new lows then I'm 100% confident we have bottomed out. The next leg up to new highs in gold will give the final spark to this sector in my opinion and bring in big money. My own estimate for this year is that we will close somewhere between 2500-3000$/oz simply because the Fed will be forced to pivot completely at some point.

One thing FFMG investors really need to keep in mind here is that we don't actually need the gold price to do anything else than stay above lets say 2000$ an ounce simply because the projects are already economical as it is. It is of course a nice thing if it keeps rising but the gold price will not be a dealbreaker for these projects anymore. Major mining companies use quite conservative gold price estimates anyway when they evaluate projects like Springpole and Duparquet, probably in the range of 1600-1800$/oz. The rising gold price will for sure bring more money into the sector which is a good thing overall.

What we need right now for FFMG shares to really "get going" is in my opinion the following:

1) Final submission of the EA.
2) Community agreements in place with Cat Lake
3) Detailed plans how Duparquet could get going as a starter pit operation
4) JV agreements with other miners to develop Springpole & Duparquet and maybe Cameron
5) New highs in gold prices and improving sentiment in miners

All of these things will occur (in my opinion) in 2024-2025, so I am very confident myself that we are now starting a long term trend to the upside with FFMG. We are way past the most "boring" phase now. The road to reach my own target price range of CAD 1-1.5 will be very bumpy that's for sure so it is important to keep a cool head here. I know there are probably still many retail investors who bought the stock in the last year or so and are sitting on large losses and they will most likely sell the stock when they are able to get their money out. That is why we will see occasional big dips in the price along the way, to the upside, that's for sure.

My own "dream scenario" for 2024-2025 is that we will get a JV announcement with a major/midtier producer regarding Duparquet and get that starter pit operation going in the next 2-4 years. That in of itself would be a massive catalyst because it would imply near term cash flows which could then be used over time to grow not only the Duparquet deposit but would also enable flexible financing to develop Springpole into a mine.

Springpole I think will need not only the final EA submission but also a community agreement in place with Cat Lake to really take all of the perceived risk away from it, although I think the risks associated with the project are completely overblown by investors. The community agreement will be reached at some point because, as I have stated before, Cat Lake is in desperate need of new roads, infrastructure and jobs to their region. There is no way these things will be built without Springpole getting developed, and both Cat Lake and the government know this very well. It's just a matter of negotiating the terms and conditions and FFMG has the perfect team in place to achieve this with all parties involved.

Other than that, the share price could very well suddenly explode to the upside for no other reason than being extremely undervalued with regards to the historical NAV valuations and sentiment improving. In 2020, the share price suddenly rose 4-5x after the "corona dip" simply because a big institution was buying a big block of shares, so you never really know what the catalyst will be. What is certain is that sentiment has been so negative in the last few years so we know shares have been moving from weak hands into strong hands during this time. When the sector turns, the shares could 5-10x very fast simply because the amount of large blocks of shares wont be available for those who want to buy i.e. big institutions or family offices and the like. If somebody suddenly wants to buy 50m shares in a short time the price to pay for that might be in the 30-50 cent range.

Time will tell if we will be rewarded big time with FFMG, but I really think we have all of the ingredients now in place to make this happen. In the end, what we are all really investing here is in Keith himself as an exceptional mining entrepreneur.

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This article suggests that something is going on in the East, and not in the West, that may be causing this recent move in gold. We know already that most of the PM purchases are being made from the East.

https://www.bloomberg.com/news/newsletters/2024-04-10/bank-of-japan-s-interest-rate-moves-and-the-record-price-of-gold?embedded-checkout=true

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Bank of America's commodity people are calling for $3K gold next year 2025. B of A isn't Kitco or Peter Schiff making this call. This is a mainstream bank.

IMO if we see $3000 gold next year we should, at least, begin to see bigger investors begin taking positions in the miners. If we get Springpole permitted in the second half of 2025 that should be a significant catalyst for a big move up in our shares. The timeline would coincide nicely, IF, B of A is correct.

https://markets.businessinsider.com/news/stocks/bank-of-america-sees-gold-at-3-000-warns-of-a-copper-supply-crisis-metals-dance-to-their-own-tune-1033234049

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Latest Gary Wagner technical analysis from Kitco.

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Just read this article from Barrons about where the writer sees gold moving to.

He gives some technical prices that gold has moved through and at the very end of the article he talks about where he sees gold heading to.

He says, "With it's monthly close above $2200, my work confirms upside projections to at LEAST $3600-$4000."

I hope he's right. The only thing he didn't indicate is when that could happen. I don't see any way it would do that in a straight line higher, but I didn't see any timeline he indicated in the article.

https://www.marketwatch.com/articles/gold-price-record-8c1f7f66?mod=search_headline

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More dire warnings coming from Jamie Dimon. It sounds like he's trying to walk the fence about what's coming. His crystal ball Reader is working overtime. LOL

https://www.zerohedge.com/geopolitical/jamie-dimon-warns-world-faces-risks-eclipse-anything-world-war-ii

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Really good article speaking to the current sad state of affairs that the excessive debt and unchecked fiat money printing are causing.

We may see bouts of deflation with the boom-bust cycles that the Banksters create, but rest assured the inflation that's in the System will stay higher for longer. That means higher taxes in an attempt to keep the bloated government afloat. The author speaks to governments resorting to resource nationalization in order to keep the lights on. When the fake money is no longer worth anything, that's all that's left.

Gold's best moves happen in a stagflationary environment.

https://www.zerohedge.com/personal-finance/more-easy-money-will-plunge-us-stagflation

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Anybody see this Mish article? Millennials are buying out physical gold at Costco.

IMO the biggest reason the retail public in this country isn't hoarding more physical gold or silver for that matter is because it's not readily available to them.
When Costco has it there available it fly's off the shelves. Most people aren't sophisticated enough to buy physical gold or silver unless its right there in front of them to see. That may be changing in the coming years.

https://mishtalk.com/economics/millennials-rush-to-buy-2300-gold-bars-at-costco/

[Implanting]

Another great interview from David Brady. I agree with everything this Guy is saying.

He talks about preparing for what's coming down the road. He talks about mine nationalization. He talks about buying PHYSICAL metals for protection. Before they become too expensive to own.

[Implanting]

Saw this recent Alasdair Macleod interview and every time I watch him, he makes more sense.

Not only is Alasdair very smart, he's also very wise. He's a financial historian, which is what most of the pundits that talk about fiat vs gold don't have any knowledge of, as usual he makes some great points.

[Implanting]

Yeah, it may the case of some combination of both of those things. They don't have the gold they claim they do and IMO they DEFINITELY are and will continue to overstate what they have by overleveraging the actual physical gold being held. In much the same way they manipulate the paper traded gold market now. This country hasn't had a physical inventory of its gold holdings since the 1950"s. How much manipulation has been done since then? My guess would be a SHITLOAD.

If I were a foreign country with repatriated gold held in the U.S. now, I would be VERY nervous about ever seeing it again. I wouldn't trust them to give it back to me as far as I could pick-up Janet Felon's fat-ass and throw her. All the government has to do is claim they don't like your policies and confiscate your gold in a fashion similar to how they have weaponized the dollar. As crazy as that may sound, IMO it could happen if a fiat debt bubble bursts and faith is totally lost in fiat.

Even if the world should move back to some sort of gold-backed currency that would drive the physical gold price through the roof and as we all know, HE WHO HOLDS THE PHYSICAL GOLD IS THE OWNER OF IT.

It wouldn't surprise me in the least if repariated gold held here would stay here.

[SeaBlue]

Implanting, that was expected - they either don't have the gold reserves they claim to have and/or they have played around with the gold they are holding as custodian for foreign entities. Rob Kirby always used to talk about numerous claims to the same ounces of gold in their possession and that it was one of the mechanisms they used to control the market.

I can't blame any foreign country that is seeking to repatriate their gold held in the US. As someone who has paid into the social security ponzi, I would like a complete payout right now at a significantly reduced rate rather than waiting a few years until I am eligible and they have ruined it somehow - tie payouts to assets held (i.e. - some nonsense like your house being worth too much, the value of your stocks is too high), inflation destroying the purchasing power of the monthly payout, etc.

[Implanting]

The gold bulls are running. David Rosenberg is calling for gold going to $3K or higher.

Good article speaking to the move higher for gold.

https://www.marketwatch.com/story/veteran-strategist-says-grab-your-hammer-and-pick-gold-is-headed-to-3-000-12a16bbb?mod=livecoverage_web

[Implanting]

I thought the Banksters wanted to be more transparent about their "behind the curtain" dealings? I guess not.

https://www.zerohedge.com/commodities/federal-reserve-refuses-provide-records-foreign-gold-holdings

[Implanting]

What I've learned over the years is that NOTHING happens in the mining sector quickly. This sector is probably the most cyclical of any sector you can invest in. As we all know with the miners, they're either in favor, at times, or most of the time out of favor. There's no middle ground with these companies, maybe with a few exceptions.

FMG should do very well when gold goes parabolic and the mining shares finally join into the feeding frenzy. IMO that event could still be at least a year or two away, but it will come. Like Keith said in the interview you posted. Investors need to rotate out of the areas of the market that they're making money in now and move that money into the resource/mining sector. He's absolutely right. Who's going to stick a nickel of their money into a mining company if the miners are dead money, like they have been for years now? All the money has up till now been made in tech and AI stocks.

Now with the breakout in the gold price that's changed the landscape. Ron alluded to that with one of his questions to Keith. A higher gold price, coupled with dwindling gold resources SHOULD have the major producers searching overtime for new gold resources and as Keith said those sources are limited.

P.S.: I meant to say this in my post about Keith's interview with Ron yesterday. In the beginning of the interview Keith was giving several reasons why investors weren't investing in the mining sector and he gave a few reasons. He never mentioned what I thought was the BIGGEST reason of all, that being it
takes FOREVER to permit a new mine. This goes back to the Lassonde Curve Theory.

Nobody wants to invest money until the Curve turns higher again. Period.

[TommyJ7651]

Nice interview, thanks! Keep in mind Keith has to be very restrained in what he says about share price appreciation potential because regulatory wise he could easily be sued if he says the stock will do this or that. I think he knows very well where this is going long term, but he wants to stay conservative in these kinds of statements. Having said that, the volume has really picked up in the last few days for FFMG so my guess is that some bigger player (maybe hedge fund / family office ?) has been buying a lot. I actually don't want this to be sold too cheaply now after all these years of waiting so my hope is that we will get a strategic long term investor or form a JV with a major to develop the assets.

[SeaBlue]

We seem to be seeing the action we were expecting years ago, eh? EOM

[Implanting]

It's always somewhat enlightening to hear Keith talk. Most refreshing in contrast to Dan's laughing.

He said some things he's said before, but I thought from what he said in this interview it was clear he sees the corner has been turned. in terms of a higher gold/silver price with investors returning to the sector. This interview was done after Easter weekend.

It really is surprising that a big Player such as Barrick hasn't come calling already. Maybe any potential suitor wants to be sure the permitting is finalized and the situation with the FN folks gets resolved correctly. We certainly seem to be sitting in a very good place as it stands. I was kind of disappointed that he only saw FMG as a five bagger from here. I conservatively see us as at least a 10 or 15 bagger.

He also mentioned the Pierre Lassonde/Frank Giustra interview I posted the other day.

I thought Ron asked some decent questions and I guess he's earning his keep.

[Implanting]

You make some very valid points. I'm never convinced of any of the numbers the government feeds us are true or accurate. The only thing I'm sure of is that they want everyone to believe the crap they're dishing out.

The debt bubble is coming home to roost to your point and maybe the only thing they can do to take people's minds off of it is to create the severe recession/depression you spoke of. IMO that's very plausible.

That would come in the form of most likely a global bust of some sort. Maybe another bank implosion. Hell, it could be just about anything. There are a lot of potential Black Swans flying around.

P.S.: I saw Stephanie Pomboy on Charles Payne's show today and she was talking about how gold is front-running what's coming with the debt bubble and what that portends for the dollar down the road.
Stephanie and Peter Schiff are two peas in a pod. Both are uber bullish gold.

[SeaBlue]

Keith talking with Ron.

[SeaBlue]

Interesting......so the manufacturing numbers are strong, eh? Just like the jobs numbers, inflation numbers (supposedly going lower), etc. Are the manufacturing numbers really going higher or is this just another con job? You gotta wonder. Particularly with people ignoring the big EV push in the auto sector and most people not having enough money to get buy in any type of financial emergency. I guess if government purchasing is strong enough that could temporarily boost the numbers, but even if that were true how long will it last with the debt increasing 1 trillion dollars every 4 months and the interest on the debt increasing 100 billion every four months. Soon that will shrink to 3 months.

If they cut loose with the money printing maybe they can kick it to next year. Whether they are successful or not, don't you think we are heading toward an extended severe recession or depression?

[Implanting]

Seablue, I ran across this article saying that JPM is calling for possibly any recession waiting to happen in 2025. The Pundits cite that better growth should carry the day going forward. I didn't see any mention of the presidential election cycle in the article. I also didn't see any mention of higher inflation and Black Swan events going forward either.

https://www.businessinsider.com/economic-recession-outlook-downturn-fears-pushed-2025-after-ism-data-2024-4

[TommyJ7651]

Yes, dude is buying 250k every month or so like clockwork.

[Implanting]

I see Keith added more shares on Tuesday.

https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold

[Implanting]

If You watched the video interview with the chart technician I posted yesterday, he made the valid points about what we saw in the past with how gold reacted to the market drop in 2008 during the Great Financial Crisis.

The gold price fell 34% from its high when the markets tanked, but that set up the huge parabolic move higher in gold AFTER the correction. The move in gold was basically straight up from that low. A parabolic move that I expect to be repeated in this cycle.

I believe whatever the reason for the coming crash/downturn will be deflationary in nature causing liquidity issues, which in turn will have the Banksters opening the fiat money spigots AGAIN. That's their only option. That should be the perfect storm for the gold price and soon afterwards, the miners.

IMO how deeply the gold price falls will depend on the specific circumstances surrounding the crash or possible geopolitical events that appear on the horizon. I'll be fully invested in my mining shares at what I deem the bottom for the gold price and mining shares.

I would definitely agree that tech and the severely overvalued areas of the stock market will suffer the most. A lot of the money coming out of those grossly overvalued sectors of the market will be the catalyst for the move higher in the mining sector.

[TommyJ7651]

Yup, ultimately we are playing a guessing game here. I just base my observations on my experience in this sector. I agree that we will need a correction soon in the gold price, will be interesting to see how the miners react to it now that we have seen the price rise this much in a short while. My thinking is that the overall negative sentiment in the miners could not have been worse than what we have experienced in the Q1 2024 which is why I believe the bottom is now in. A stock market crash is a different thing because then we are usually talking about liquidity drying up temporarily which affects almost every single asset class. I think there is a strong possibility that the tech sector & AI sector will crash the most but that it will probably not drag the entire market with it. These tech stocks are such a large component of the indices right now it will make it look like the entire market is crashing but really it will be mostly the "FANG" type stocks. This is what happened back when the Nasdaq bubble collapsed as well. In the background, the gold miners kept rising and nobody was talking about it until they were up many fold. Let's see what happens, but a correction in the gold price I think is imminent either way. My guess would be we correct to around 2100-2200 (might even correct more in a liquidity crisis) at some point and that will again scare weak hands away. It is possible this will coincide with the tech stocks crashing and then if the Fed finally pivots completely then you will see a absolute explosion in the price of gold.

[Implanting]

Everyone has their own opinion about how it may play out. Gold may move higher in the short term, but when the recession story unfolds and negativity in the markets set in we're going to see ALL risk assets sell off. That will include gold and silver.

IMO what's driving the PM market currently is a rising commodities sector, NOT people rushing to the safety of holding gold or silver. Look at where oil is now.
Recessionary fears or a market crash for whatever reason will flip that narrative very quickly and this current rally will sink. It's not out of the realm of possibility the Fed could be forced to raise rates again because of higher inflation. They don't want to do that, but the data is saying inflation is not dropping here. That would certainly freak the market out.

When this market rally ends is anyone's guess, but it will come. I personally don't see a real break-out move coming in FMG shares until after we see a steep correction come in gold. That will also be after the stock market makes a very big correction. JMO

P.S.: If our shares have bottomed, I'm fine with that, but I'm still keeping my powder dry to see where
this impending correction takes the miners.

[TommyJ7651]

Yeah for sure prices have been rising nicely, but I mean a REAL major breakout is starting here, I'm talking about prices going to 3-5k/oz in the next few years or so. I think we will get some kind of correction soon simply because nothing goes up in a straight line, but I am still amazed how strong gold's rise has been even with interest rates still quite high. I have been following the trading volumes very closely for the last months on miners and something definitely has changed now in the last few weeks. We are finally seeing capital coming back into the sector but it is still very early days here. First Mining has definitely now bottomed, I am confident about that. Only maybe a massive stock market crash which would temporarily freeze all liquidity could make a new bottom, but I am very skeptical of this. The "AI stocks" and other overvalued tech stocks are for sure going to crash at some point but I dont think that will affect miners that much. Back when the Nasdaq Bubble collapsed in the early 2000's that actually did not affect miners at all, they were still rising back then. I see something similar happening here again. I think we can move very quickly here to the 30-50 cent range in the next months or so if we continue this positive momentum and more capital keeps coming in. If we get more good news here regarding Springpole's permits/agreements or plans to start Duparquet as a starter pit then I think we could be moving very quickly to 0.5-1 CAD range. Juniors/developers usually move very fast to the upside once the sentiment changes and people will be literally rushing in and buying every stock with the word "gold" in it. I have seen this so many times already.

[Implanting]

Interesting article speaking to higher inflation expectations and why that's fueling higher commodity prices FOR THE TIME BEING.

The problem with a perceived increase in commodity prices is that means the Fed can't start cutting rates, like the Street expects them to do. Higher inflation means no rate cuts and that will be a very big problem for the Banksters. They need to cut rates to bring down the interest payments being made on all that debt we have. That can't go on indefinitely.

https://www.marketwatch.com/story/why-oil-gold-and-the-dollar-are-all-surging-and-why-that-could-cloud-the-feds-rate-cut-outlook-3105de14?mod=home-page