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Not to sound like a total halfwit, but the action today was just regular retail investors selling and buying shares frontrunning the dilution news release correct? Meaning the insane 7 million (GDXJ volume today was 6.5m, our volume beat GDXJ’s single handed) traded was just regular retail reacting to the news, it wasn’t caused by the parties receiving the newly issued because those shares won’t actually be issued until later this/next month correct?
Just trying to understand the forces and dynamics of stock price movements.
Including nose trimmers had me laughing! EOM
They def should be, at this market cap my day-trading Uncle Sal could lob a competitive offer, LOL.
I just think Keith will need a lot of friendly shares in his back pocket when he is negotiating the best deal.
If a hostile takeover happens the share price will bump up and trigger 50 million more friendly shares from this current offering.
I don't know anything about the negotiating process. But it sounded like Dan and maybe Keith are more concerned now about a hostile takeover.
Good call-out. Btw, I just noticed this is two different offerings for a total of $12 million.
"Bought Deal Offering" for $7 million and
“Non-Brokered Offering” for $5 million.
I don't see how many Units associated with the Non-Brokered Offering.
Am I reading this correctly?
51,852,000 units of the Company (“Units”) at a price of $0.135 per Unit for aggregate gross proceeds of approximately $7 million (the "Bought Deal Offering"). The Underwriters have been granted an option (an "Over-Allotment Option") to purchase up to an additional 15% of the number of Units issuable under the Bought Deal Offering, exercisable in whole or in part, up to 30 days following the closing of the Bought Deal Offering.
In addition, the Company intends to complete a non-brokered private placement of Units (the “Non-Brokered Offering” and together with the Bought Deal Offering, the “Offering”) for gross proceeds of up to $5 million.
Most important thing is for all of us to be as inclusive, compassionate, and even tempered as possible so that we can minimize any accidental flares of hate speech or misogyny, else our iPhones, electric toothbrushes, nose trimmers, electric shavers, portable power banks, laptops, electric vehicles might randomly explode
"There are only 2 genders and men can't get pregn..." Mossad: *click* kaboom
Maybe, but depending on when a deal is announced and the Company has access to money from the deal, would anything make a difference, but we don't know that.
My suspicion is we need the money from the offering and that even though we may be talking to potential deals getting done, nothing's been finalized yet. The company still needs working capital, but I noticed in the PR that two of the companies that cover FMG are big buyers in this offering, so was this offering some sort of pay-off to them? Who knows, but one hand washes the other.
IMO the Company Insiders have all their shares and are loaded for the move higher.
https://firstmininggold.com/news/first-mining-announces-7-million-bought-deal-public-offering-and-non-brokered-private-placement
The first scenario would likely be insider trading.
2nd scenario doesnt make sense either. They could just buy the shares on the open market if they really wanted to prevent a hostile takeover. At least then - they could benefit from the higher share price.
In the end - given the facts we have, it is just more of the same and I have been a long time reader of this forum and finally registered to add my frustration on the overall trajectory/strategy being employed.
I tend to agree with Implanting that we are walking through dilution valley until some event/entity puts us out of our misery - one way or another.
I don't want to see the dilution, but I perceive it as something that has to happen UNTIL we get a deal done. If they can't raise money through share dilution now, the company won't exist. We go broke. I see this dilution as a bridge for the company surviving until we get a deal done. I'm almost desensitized to it now because it's literally gone on for years. As COminer said this has probably been about offer 5 or 6 since Dan said we wouldn't have to do another offering. LOL
IMO nothing short of a much higher gold price, a big pivot into the miners, or more specifically a deal getting done for us is going to change anything for our share price. I only hope this is the last share offering, but it may not be. The cash they're raising gets smaller as our share price falls.
This dilution is almost 10% of the company if the share price hits 20 cents.
That is A LOT of shares.
Maybe it means the "smart people" are buying up cheap shares before the BIG DEAL is announced AFTER the final Environmental Permit document is submitted.
Here is another idea I had.
It
Maybe this current dilution is worth more than just the cash.
Maybe Keith and Dan are trying to "buy" enough friendly shares in this dilution to limit the possibility of a hostile takeover? I don't know. Just another thought I had.
Just a guess.
Hello Implanting
As a large shareholder of AG - I have the full Keith dilution experience. It is good to hear that he has said no reverse split.
The fact that they have done this dilution means there are likely no serious deals in process. You don't go and dilute your shareholders and offer warrants if there is a serious deal in the works - or even a bite. This proves to me that we are still at ground zero with little interest at best. If they had 13m in the bank - they could have delayed and bought more time to make a deal.
So yes - as you indicated...still a long road it seems. This long road I hope doesnt forever traverse dilution valley (highly likely). Soon to be 1.2B+ in shares is getting U.S. debt level absurd. I did see Keith say once that # of outstanding shares doesnt matter to him but I question that logic. FFMGF really could use a share buyback once/if they turn the corner. I inquired on all of these topics to Paul but no response and not expecting one as I asked very direct questions. In the interviews - he came across as a bootlicker and not expecting a response despite my investment which is on par with Tommy but perhaps much smaller than some of you. Maybe some of you can press these questions.
I'll take the full loss before I sell and hope that Dan realizes if he does actually own 10m shares - he has far more to gain not fucking things up with endless dilution. If I were him, I would already have a press release ready to go next week of a major new discovery or positive news that would justify this dilution in unequivocable terms. Also unlikely.
I will be very happy to be wrong in all my assessments of course but I can only go on what I am seeing.
Yep, a lot of selling and maybe some buying too.
I think this last interview Keith did may have been front running this news today. Get the share price up before a big flush down.
Imagine where the share price would be now if we had been trading below .10 before today's news?
Zen, many of us have been complaining about the continued share dilution, unfortunately IMO this is the route Keith has taken. It hasn't stopped and I wouldn't in reality expect it to stop until we obtain some financial freedom by doing a deal that ensures we don't have to dilute going forward. I hate to say it, but even with the assets we have the story here hasn't been believable to a larger audience. I truly think that will change in time with a higher gold price and interest finally coming back into the mining sector. These moves seemingly take forever to happen.
There's no doubt that the massive share count we have has also been a downer for anyone wanting to invest into this Company. When people see the float we have they turn and run. I hope when we finally get a deal done they do as You suggested and start up a share buy back program. That would be fantastic to see when we have the money to do so.
Good things are coming I think, so keep the faith and keep posting. thanks
P.S.: Keith has repeatedly said NO REVERSE STOCK SPLITS. I hope to God he stands by his words on that.
Lots of selling pressure today, over 4.6M shares traded OTC.
I'm with you Implanting, end of Q1 2025 should be the deadline for some "good news" for once. Tired of this crap.
Nsnz33, IMO this is one of your best posts to date on this board. I think I agree with almost everything you said.
It may have been the last time or one before that I asked Paul Harris why the Hell the EA was being pushed back to October. I was under the impression it was an issue stemming from the Canadian gov. side, but Paul told me that October was our DEADLINE to have it submitted. In other words our time was up to get it submitted. Paul didn't know the details, but that certainly struck me as odd. Take from it what you will. Could dragging your feet be a reason? I don't know.
Your cow milking theory is plausible IMO too, but what about this? Dan may already know his time AFTER Springpole gets EA approval and the mine building phase of the journey starts that his time as CEO may be numbered. My geuss is he would either be demoted in some fashion with the Company or let go altogether, so Keith sets him up with his golden parachute. LOL
Whatever they may have cooked up between themselves I could really give a rat's ass. Let's get the ball rolling on our share price before we all die of old age here. The Snake Oil Salesman isn't a very good one for our share price and after all, that's really what matters.
I wrote today and expressed my dissatisfaction with the additional dilution. Not sure it helps but the more shareholders complain about the current trajectory / 'strategy' - perhaps it will have an impact going forward. The last thing we should do though is defend or support what is going on now without real accountability. If Dan is unable to reach certain milestones by expected dates - then someone else needs to take over. This can't be an open-ended lifestyle company for management.
I'm going to be very disappointed if we don't have some sort of deal done giving this Company financial freedom by the end of Q1 2025. If it hasn't happened by then IMO we're either not talking with who we need to be talking to or there are no legit deals on the table.
Dan can talk all he wants about the starter pit at Duparquet, but until we get some money from some source other than share dilution, that I don't see happening.
More rhetoric to get people interested. I want to see some results and nothing's going to happen without money to do it.
EA submission July deadline b.s, no more dilution was b.s, Duparquet open pit b.s
We're in September now, why hasn't the EA been submitted yet?
And one has to speculate that Keith might be using Dan as a lightning rod to avoid being held culpable and is really the one pulling the strings and green lightning the bulk of these decisions. Then on the other hand it's also likely Keith truly did delegate Dan autonomy and discretion and Dan deliberately dragged his feet to ensure the processes take longer than they should so he can keep his post and thus his $500k salary ($300k after taxes using Canada taxes I'm guessing) for Dan's future after this will likely not be as lucrative paywise as what he has got now so naturally he's gonna be incentivized to b.s and milk the cow for every drop. I've witnessed this in companies I've worked for, higher ups hiding under pretenses when in reality they don't care about the company, employees, or doing the right thing, they're just trying to prolong their tenure, squeeze more months/years of paychecks, garnish their resumes, rinse and repeat with the next company. First Mining might very well be Dan's retirement cash cow that he's milking for every drop, afterall the $1 million he's spent on the shares he's purchased is small relative to how much he has made through his salary over what is it now, 5 years of being with FF?
But it's too late now, let's hope they keep finding more gold at Dup and Spring to offset the dilution AND net a gain in asset value and thus market cap. Like Tommy said, getting financing alone isn't easy and so long as it is spent on a healthy ROI oriented basis, it's alright.
We just need sentiment to return, rotation from tech to value to take place. Gold is doing its job, albeit it will likely drop to $2300-2400 in the coming market crash prior to the jew infested and owned federal reserve coming to the rescue with more money printing.
But when is the EA being submitted? We're in September, October now. That snake oil used car salesman said July.
Wow, VERY WELL SAID! Your 100% right on every point you made.
Is there any wonder every time he talks about why our share price is so undervalued that's
a fucking slap in our face. No credibility tends to work that way.
Zen, thank you for your input here. Most of my concerns revolve around some of what you're talking about.
The main one being continued share dilution and why IMO it's so crucial to get a deal done to finally put to rest this continuing dilution. Dilution that I might add Dan said would stop literally years ago. More bullshit on his part because that never came close to happening.
It's clear in my mind that this dilution is going to continue UNTIL a deal is announced and the financial situation with FMG changes dramatically. A deal that makes further share dilution NO LONGER NECCESARY and puts FMG in a place of financial security. The good news, if I'm right, is that process may be going on as we speak. Keith even made the statement in this last interview that Dan was talking to various interested parties. How far are we from getting something done? That's up to speculation, but if they're talking to interested parties IMO that's a good thing.
I know big deals don't get done overnight and if they're speaking to multiple parties my guess is it could get long and drawn out. All shareholders in this Company want to see this Management get the best deal possible for us, because we've damn sure waited long enough to see it happen.
My hope is this is the last share dilution we have to endure before this long wait is finally over. That's my 2 cents.
I really don't care how many shares Dan has purchased. I don't question Dan's hopes & dreams for this company. I do question his truthfulness and credibility, the latter of which is zero at this point.
I distinctly remember Dan (at least 5 or more equity offerings ago) telling shareholders that we were all set with equity raises and we should be able to get through the approvals without further equity dilution. BS! If memory serves me correctly, that was at least 2.5 to 3 years ago and we were hanging around $.25/shr with ~750M fully diluted shares outstanding and approx 1.5 to 2yrs until expected approvals. I could be off there b/c that's just from memory but it illustrates my point.
Fast forward to today. I don't have time to go back and count how many equity raises we've done but it has to be at LEAST 5 or more. We are still more than 1yr away from EA approval at Springpole, and out share price is at $.10 with almost a BILLION fully diluted shares outstanding.
I don't need to be told that I don't understand dilution. I agree with you, not all dilution is a bad thing but when it's executed through deception you get exactly what we have, a shitty share price held by retail bagholders because the Street doesn't believe a DAMN thing Dan says. Neither do I, btw.
Well - I hope you and everyone else lives long enough to see a positive outcome. The point is that further dilution is just that - shareholder dilution. My concern is that this trend will continue and who knows we may even get a reverse split as a previous poster experienced with a different company. If that happens - watch the price glide down to pennies again. Now let's see if they can somehow achieve a deal with shareholders in mind before they return to the trough for their next feast. I want to believe this will not become a 'lifestyle' company for Dan and others with us shareholders constantly footing the bill.
What if we don't have any interest in the other assets right now? You cannot sell something which no one wants to buy unless you let it go at firesale prices which is also a stupid idea. I think we can all agree management for sure is considering all financing options all the time. If there was a reasonable way of monetizing the portfolio then I'm sure they would have done it.
After all, Keith owns 30m shares and Dan still owns 10m shares himself. I don't think they want to "dilute" their existing holdings for nothing tangible in return. Did people forget Dan has put almost 2m of real cash into this company? He stated in a personal conversation with me he has a significant portion of his family's entire net worth in the company stock. Keith has also participated in all financing rounds and bought a significant amount of shares on the open market. You think he wants to be "diluted" by the company any more than we do? Both Dan & Keith have not sold a single share as of today. I can show you several companies where management got all of their stock through option grants and sold all of their holdings as soon as they got hold of them. I don't think we could have a more committed Chairman & CEO in FFMG, but maybe that's just me.
Maybe I'm just getting old or whatever, but I don't really feel the company has done anything wrong since the IPO. I think we have been trough an awfully long bear market which has depleted most investors emotionally and that is understandable. I still believe in what Keith & Dan is trying to achieve here and I myself see a fantastic future for the company. Sure, if the sentiment in the market for miners would have been fantastic the last 10 years this company would probably already have been bought out for a billion dollars plus. But the market seldom behaves in the way that you think it will. Sometimes you get lucky on the timing and sometimes you don't. What is important is that the company progresses on it's goals. The share price will eventually catch up to reality as long as the company makes meaningful progress. And I think we can all agree that FFMG has made substantial progress from what it was back in 2015-16. If the share price turns out to be between 1-2 (CAD) dollars in a year or two for whatever reason, then all of a sudden people will forget it took 10 years of hard work to get there. It's funny how that works out sometimes.
It is possible that I have been wrong this entire time and the company will end up failing, but that is a risk I am willing to assume. I lose no sleep with my position in FFMG other than maybe being too excited at times about it's future.
You are making great points that I agree with.
I invested in another Red Lake area gold exploration company. Honestly, I wish I would have been investing in First Mining instead of that company the last few years. That company did a reverse split and changed names. My investment there is worth pennies to the dollars I spent. I understand the gold exploration space.
But at the same time if I recently bought a lot of shares (Translation: a lot of shares to me as a poor retail investor.) just a week or two ago, it makes a lot of sense for me to at least feel sad to see the price drop 20% today and to wish I had 20% more shares if I had a crystal ball and waited until today.
Obviously I can see the value here. Obviously I am happy to have my current investment here and hope for a payday within 15 or 18 months or less. But yes, today sucks because I was a buyer last week and earlier this week. I'm a part owner now and i have a right to state the facts.
I am also a large shareholder and I disagree - this is dilution. As suggested below - they could try to sell off other assets before further diluting shareholders. At this rate of dilution - unless they get outside interest fast, earlier investors will likely lose money on this company. I want to hear their plans to self fund with non core assets. Are they considering share buybacks if a JV is signed?
I think the entire word "dilution" is so stupid because most people really don't get what it means. A better term is "raising money". Dilution only occurs if the money being raised is completely wasted and you have nothing to show for it. If you are a mining company and raise 10 million dollars through equity and drill out a deposit with excellent results then you cannot say that is dilution because there was something of value which was surfaced. Whether the market recognizes that value is another question, but the fact of the matter is that unless you have revenues then your only way of progressing as a company is through equity or debt financing. It really makes no difference whether you are a mining company or a tech start up. I don't get why investors get so mad when a company like FFMG announces new rounds of financing even though Dan has made it very clear that further financing rounds was to be expected to get us to the finish line. It's not like we can advance our assets without money. People just automatically assume that just because a company is issuing shares then it must mean they are getting screwed somehow. It all depends upon what the company is raising the money for and how they use it. FFMG has done - at least according to me - a very good job of using the money (and the portfolio) to advance Springpole and Duparquet.
People also need to keep in mind that the current bear market has been one of the most brutal ones the industry has ever seen. Many similar juniors / developers have gone bankrupt during this period because they could not raise any money. Go look around for some other companies in this space and you will see they are basically done because they are left without any money and they are just sitting on the assets. FFMG seems to have a very loyal investor base because they seem to be able to raise 10m dollars quite easily in almost every financing round. This is something we need to be very happy about because it has meant FFMG has been able to advance its assets in a very harsh environment. It's no like this period has been a walk in the park for any company in this sector. Having said all of this, I think we are now well set funding wise to reach our final destination of final EA permits by year end 2025.
I get the idea that people think us having a billion shares outstanding was a horrible price to pay as shareholders. But what would have been the alternative? The company would be in a very awful position right now had management not been able to raise any money and the EA process would still be in it's infancy compared to where we are today. Imagine if we had not made any progress. It would really suck to still be 5-7 years away in the permitting process when gold is hitting all time highs every day. The sad fact is that you cannot skip the EA process no matter what. Springpole is so far advanced right now, I mean we almost have the EA permit in our hands guys. I think it is nothing short of amazing we have been able to even survive this bear market yet alone advance Springpole to the finish line during all this negativity and horrible market conditions for miners.
In the end, I don't see the shares outstanding as a problem as long as we reach the permits and get deals done. I will keep adding shares as long as I can because I am committed to see this story to the end.
I'm a believer in the FFMGF portfolio in this gold market. But I sure wish I would have known about this dilution a week or two ago. I would have bought more shares.
I'm not sure why this information is not being distributed in the US. That doesn't seem fair.
But, I still think there will be a payday here in less than 15 months. Maybe sooner.
Dan almost choked at the Denver Gold Forum preso when he mentioned the fully diluted shares outstanding. The only clock spinning faster is the national debt clock.
51 million "Units" could turn into
102 million shares.
Ouch.
I wish I would have waited until today to buy my shares. That is a lot of dilution for just $7 million.
Ultimately, we just have to trust in Keith getting the best deal for us. I also noted Dan spoke of the JV option for Springpole and this is what I also envision right now for us.
Ideally, we should get a mid/major producer to partner with us and buy a meaningful interest in the Springpole project at some point or at the latest when we have the final EA permits. I would like to see them buy say 30-50% in a JV for something like 400-600m where they have the option to buy the rest of the project at a later date if certain conditions apply. This deal should include the partner to take on all of the construction and financing risk in getting Springpole into production. This would be the most attractive option for Springpole as I see it because our job really has been to get the permits in place and then negotiate a good JV for FFMG shareholders. If we can get this done, then we can basically sit back and enjoy the rest of the ride until our partner buys us out completely in a few years or around 2030 or so. A deal like this could probably net us between 1-2B (USD) when all is said and done. If gold just keeps rising over 3k (after a major correction at some point) this is a very probable outcome for us for Springpole.
Now, that's just the scenario for Springpole mind you. Duparquet should be ideally drilled out and redefined in the upcoming PEA next year to include the starter pit and the recent drilling results. Hopefully, we can show somewhere between 8-10m+ ounces in the project in the updated PEA along with a NPV north of a billion dollars (USD). Dan said he thinks most investors will be very surprised how robust the economics will be in the updated PEA This is a project that I would ideally like for us to stay "in house" for as long as possible. Maybe we indeed are able to start small here for ourselves since the initial capital required for this is quite low in the bigger picture. But a partner here would work as well, maybe ideally First Majestic although they have so much on their hands right now I would not count on them. But you never know with Keith.. dude is making deals all the time it seems.
What I would really like to see also right now would be for us to monetize Cameron in some way, I really don't care if we can't get a very good deal on that since that asset is basically just a burden for us. Getting that project sold for maybe some tens of millions would really come in handy right now when we are preparing Springpole and Duparquet for the future. We also still have a 30% interest in Pickle Crow which is still quite a sizable and valuable project. If we can get lucky, then maybe Firefly Metals might sell that project for 100m dolalrs+ which would also net us a nice chunk of cash from a non-strategic asset. We really should be letting go of these interests since the big money makers will be Springpole and Duparquet.
I think they are looking at Springpole very much. What I think at least some of them are also waiting for is to see the final EA submission just to have confirmation that the formal clock has started ticking so to speak. Some of them might also be waiting for FFMG to get community agreements in place. Could be a lot of reasons but make no mistake, this project for sure is on the radars of the majors simply because there is no other similar project as far advanced in the EA process.
Like Keith said in the last interview you basically already know the EA permit will be granted. He said there really is no case that he knows of where an EA has been filed but not granted because you basically already know when you file an EA that the government is on "your side" so to speak. There really would be no point in going through an awful lot of work just to sort of gamble on getting the EA approval in the end. The government/ministry will let you know quite early if there are any red flags and FFMG has already answered all of the questions. It's basically just going through the loops now and checking all the boxes in the formal process until we get the final permits.
I would be shocked if we don't see any major deals or moves announced by year end 2025. I just cannot see a scenario where we are sitting with a fully permitted Springpole worth billions with current gold prices and our market cap still being in the 100-200m(CAD) range. This just can't happen by any logic.
Dan said they will release an updated PEA for Duparquet during Q1 next year which will incorporate the "starting small" scenario. He spoke quite well of this in the last two interviews saying it will surprise most investors how robust that operation will be, so I'm quite excited about that as well.
Gold just keeps making new highs now every day which means our portfolio grows more valuable by the day. At some point these insane valuation discrepancies must close between the juniors/developers and the gold price.
Another thing I can't figure out is WHY the Hell isn't FMG getting any love or attention from within the mining sector itself? Mine developers like us should be on the radar screen of everyone covering the mining sector and we're on the precipice of submitting the EA for Springpole.
I guess it's going to take some actual news breaking on a deal getting done before anyone gives us credit.in the mining space. Amazing.
Thanks for posting that video.
What I heard coming from Dan is that they may be leaning towards doing some sort of deal like what we recently saw with the Goldfields/Osisko buyout. I say that because he talked about it in some detail, more than any other option. That would be a partnership with someone initially, most likely with the partner having an option to buy-out the balance of the project at some point in the future. A much higher gold price would make that VERY attractive to a future partner.
So, if that's where they want to take it, my guess would be that happens with only ONE of our flagship projects. That should leave the other one for us to develop ON OUR OWN going forward or maybe to do a future partner deal with FM. IMO our biggest goal is to get some money together from most
likely an outside partner WITH BIG POCKETS. That would put us in a good place funding-wise and to develop our assets like Cameron going forward too.
How many of those Players are out there available to partner with us? I don't know, but my guess would be the list is short. It's still mind boggling to see how cheap our shares are currently, even with what is obviously going on. Goes to show how unloved this sector is and has been.
Let's see if the link to this video works. U tube posted 16 hours ago. CEO Dan.
Recent Gary Savage TA interview. He's very bullish both gold and silver, more so on silver once it gets going. Good listen.
In the interview with Keith and Ron, Paul spoke about both Duparquet and Springpole. IMO he should have been speaking in terms of our TOTAL aggregate benefit of the rising gold price. He obviously wasn't to your point. It confused me when I heard Paul say it and only until you brought it to light, did it make sense.
If I recall correctly, when Paul was giving numbers, it was strictly in the context of Springpole.
More excellent words of wisdom from Steve Hanke. This Man knows his stuff and more importantly, he speaks his mind. Hanke states in this interview that inflation will continue lower because of the drop in the money supply. The only thing I would ask Hanke if that's truly the case why aren't food prices falling, because they're currently NOT falling at Walmart or any other store I go into. Maybe those prices don't begin falling again UNTIL we are in the throes of a bad recession and ALL spending drops dramatically, which will in turn have them dropping rates VERY quickly.
Another thing he spoke to that I found interesting was that anytime the Fed drops .50 points at the beginning of a rate cutting cycle that portends we may already be in a recession, so if that's true everything Powell said about the economy yesterday is a BIG LIE. This is why IMO we can expect some sort of "crash" event to come into play to give these Idiots an out. They have to make an attempt to cover their ass when all Hell breaks loose.
So, Paul should have said $250M for every $100 higher in the gold price. We own both properties.
I meant million not thousand.
They’re both right. 150k for Springpole and 100k for Duparque for every $100 increase in gold.
O.K., I'm going to post this article ONLY because parts of it speak to gold and what could be some very big catalysts for a higher move in gold. The biggest of those being escalating global war and we know PM's react very well in those uncertain environments.
This Martin Armstrong video is about many subjects that border on politics and personal points of views, so view it at your own risk.
https://www.zerohedge.com/political/deep-state-knows-it-cannot-cheat-kamala-martin-armstrong-fears-washingtons-plan-trap
Another decent volume up day for FFMGF shares today.
So, the Banksters went did a .50 rate cut today and the markets spike on the news, then sold off. Good.
Powell tried to paper over why they went .50 instead of the .25 many were expecting. In short it's because they're worried about where the economy is going. Of course, the market sold off after the initial happiness faded.
One of the Talking Heads on TV said the rate cuts coming will most likely be .50 cuts, not the GRADUAL .25 cuts the Fed has been calling for. These Fools NEVER get it right. The shit storm is coming and as usual they're behind the curve AGAIN.
Tickles me.
P.S.: Powell was up in the Q&A session lying about how the Fed works for ALL Americans and not just the rich and political class. What a crock of shit!
A damn bolt of lightning should have come down from Heavan and hit that dickhead right between the eyes.
Thanks for posting his pitch.
I think I may have said this already, but why does he keep harping about how undervalued the Company still is? He never speaks to the reasons why we're so undervalued. I didn't hear him say there are a lot of other developers/juniors that may be in the same boat as we are in being undervalued. Is our share price so beatdown because of the assets we have or because of something else? It would seem to me the Street is giving us NO CREDIT for anything. Why is that, Dan?
A couple of other things I caught from the Keith/Paul interview and from what Dan said in his pitch. Paul made mention that for every $100 higher the gold price goes that adds $150M to our asset bottom-line, Dan said in this video it adds $250M and I believe that's what he's been saying for a while now. Curious to know who's giving the right numbers?
Lastly, both of the interviews talked about Keith buying shares (I would assume on the open market) on a monthly basis. Well, that was the case over 4 months ago and according to this insider activity website, Keith hasn't purchased a share on the open market since May 6th of this year. That may actually be a good thing.
https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold
Dan exaggerates too much for me.
Gammon always has some great, thought-provoking info. to share. I laughed out loud when he brought up Jim Cramer's views on what's coming.
The ONLY two Assholes that anyone should always do the opposite of what they say is Cramer and Dennis Gartman. ALWAYS DO THE OPPOSITEOF WHAT THESE FOOLS RECOMMEND.
Both of them are notorious for being wrong with their predictions.
Yeah, I think we're going to see a significant pullback in the gold price when the panic selling starts at some point. When that happens and what causes it to come is up to discussion, but I think it's coming. After that price pullback comes is when everyone will come into gold and silver in a big way. Time will tell.
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