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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.
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
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.
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.
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.
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.
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.
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?
More of the same old shit. Hash and rehash.
What I tried to explain to Paul the other day was what happens to our share price at the point in time IF AND WHEN the stock market tanks. Dan said he thinks (more like hopes) that our shares are near the bottom. If we see a big stock market sell off at some point IMO we're going to see ALL risk assets move lower. That even means mining shares. It happened in 2008-09 before the big move higher in gold came in 2010-11,
It wouldn't surprise me if it happens again this time.
Well, I have to say after reading that second article you posted, it paints a much more negative picture of what's going on.
The writer of the story seemed to say the Big Chief is more pissed at the Ontario government than all else. Why does he have a problem with the Tribe working in full with FMG? The article seems to imply that the Indians think Ontario is throwing them under the bus. Maybe he's trying to just stir up trouble?
Why would the Big Chief expect Ontario to be on their side? The article seems to imply he has a problem with that. Surely, he understands that Ontario WANTS the mine to be built.
Anyway, it looks like this may take MORE time to play out. The Natives are milking it for all it's worth and the drama continues.
Who wants to invest into this until it gets cleared up. Most likely why Dan keeps pushing everything back.
I'll speak to the video first. IMO there was nothing that he said in this video that he hasn't said multiple times already. The SAME OLD SHIT. All just more past history. Who cares about his background, I want to know how and when the share price is going higher.
He talked about saving shareholders from more share dilution. That's also in large part bullshit. Yeah, we made a little money from Auteco, Big Ridge, and Treasury from the deals that were done, but that was actually small $$$ amounts compared to the offerings we've done since he said we're NOT going to have any more offerings or dilution from 2 or 3 years ago.
Does he think we're stupid? I remember him saying after the one big offering, we would not have anymore dilution. That was at least two, maybe three offerings ago, so that's a bunch of crap.
Also, the speech he made about there being no capital available to Canadian miners, like there used to be. Is that supposed to instill confidence in anyone that we'll ever find a JV partner or someone willing to back us or help build Springpole? It almost sounded to me like he was saying there was no one there to do it and money may not be available. Is that what anyone else heard?
If they want to bring calm to shareholders in this company, IMO that's a poor way to go about it. Tell me about something you're going to do to solve the issues.
At least he wasn't laughing hysterically at where the share price is like he did on this last Ron's Basement video. The Fool was laughing about the share price being depressed and undervalued. Hello Dan, that's your job.
I'll end my bitch with this. He again has moved back the time table for the Springpole permitting he said in one of the recent videos that would now be completed toward the END OF 2025, before it was mid 2025, and before that it was mid 2024. He did the same thing in this video kept giving a date and pushing it back. I don't think they know when it's actually going to be finished is my best guess. Keep pushing it back Dan, maybe no one will notice.
If Cat Lake's wish is to have a year-round accessible road, that costs money, LOTS of money. FMG won't be able to build that road until revenue from the gold mine starts flowing. Our people need to tell the Big Chief that the sooner the Tribe gives their approval, the sooner construction of a road can begin. I asked Paul if Ontario or the Canadian government would assist in the cost of building the road and he wasn't sure. My feeling is that they should be. Putting the mine in will benefit the government greatly too, they should be more than willing to help make it happen.
There are many advantages to those folks in the tribe that the mine would bring there. Firstly, it would help bring them into the 21st century. They're so isolated there I'm sure that has to be a big problem for them. Imagine not being able to drive anywhere. They have contact with only the few people that live in that immediate community. That has to suck.
I also asked Paul about what they had planned to bolster the share price. He told me they had some things in the works to do that. He didn't get specific, but I'm sure I'm not the only shareholder asking that question. He claimed they thought there was an unknown Seller of FMG shares that had been unloading shares and driving the price lower. I couldn't deny that, but one would think that at some point in time the weak hands would be out of the stock and the selling would peter-out or stop. Let's see what they can do to move the share price higher.
IMO they've just touched the tip of the iceberg when comes to finding gold around Springpole. There's much more to be discovered. That will take time and money.
Thanks for posting that article. I thought it shed a lot of light on what is going on with the Cat Lake saga. Although there were portions of the article that weren't wildly bullish, the part where the Chief made mention that they weren't against the mine IMO was a very good sign for us.
I have some additional news. I spoke with Paul just now and forwarded him your article. I asked him to call me AFTER he read it, so I could bounce some questions off him concerning the article. When he called, he told me the Chief in the article was at the FMG booth at PDAC with Dan on Tuesday. I could only guess if he was at the Conference he wasn't too pissed off. LOL
Paul told me he was getting a feel for what's going on in the mining industry. Some male bonding should go a long way in moving the mine forward.
The article stated that the Ontario government gave FMG the permitting to build the ice road to the mine site WITHOUT the knowledge and consent of Cat Lake. I asked Paul about it and he said in no uncertain terms that was untrue. He told me they were notified. My guess is they didn't want it built without their final blessing to do so and the Judge agreed with them. Paul told me the mine will be approved. They want a road to be built for them to get out of Cat Lake and if they get that their approval should be given. I think this will be more likely to happen as we get closer to getting final permitting from the government.
Paul told me we don't have to have the Cat Lake approval to build the mine, government approval is necessary to have. Cat Lake is aware of this fact, so what usually happens is when the government gives their approval the indigenous communities will fall in line.
This is not financial advice, but I did ask Paul about the Treasury warrants and he told me they expired worthless, so there would be no tax write off for them. I suspected that was the case.
I'll comment on a few of the other things I asked Paul as my time permits.
It's going to be very interesting to see how this election goes in November. We have eight months to go.
I can't fathom that Dementia Joe could be the democrat nominee. This Guy is just too far gone, he should be in a nursing home right now. I still think his Handlers are going to attempt some sort of last minute nominee change before election day. Their problem is they have no one really any better or liked. Kamala Harris? Gavin Newsome? LOL
They'll make Trump out to be Satan reborn, but the more they do that the more the electorate will be behind him. My concern is what you referenced with the CIA. Trump had better be watching his ass for sure. The Deep State doesn't want him back in the White House.
Did anyone else see this? Unfucking believable.
https://www.zerohedge.com/political/treason-bombshell-report-reveals-biden-has-secretly-flown-320000-illegals-united-states
The PDAC conference is going on in Toronto this week. I guess the FMG crew is there doing their thing. I spoke to Paul via a short email and told him I would speak with him next week in lieu of all that's going on in Canada now.
Maybe something fruitful will come from the conference this year. Hope springs eternal.
https://www.pdac.ca/convention
Well, the good news is the gold price has pushed through the $2100 range in a fairly convincing way today.
$2124, as I post, so we're seeing some nice follow through from the price action Friday. Bitcoin is going parabolic, so maybe the gold bugs can do something as well. Time will tell.
How much gold is really being held in the U.S.? No one really knows for sure and the Banksters want to keep everyone in the dark about it.
https://www.zerohedge.com/economics/fed-chair-tight-lipped-foreign-nations-evacuation-gold-us
Yes, crisis time draws ever closer and the Banksters know it. I'm sure they've made the plans they hope can stave off a major recession/depression outcome. That means throwing as many trillions of fiat dollars at it as needed.
IMO the tricky part comes if that can be accomplished BEFORE election day in November? Do the Banksters want the event to happen or are they trying to prevent that outcome? I believe that plays a huge role in the outcome of the election.
If Dementia Joe is still the candidate come November, he'll have a high hill to climb with a bad economy in tow. If the economy continues to tread water he'll have a much better shot at winning IMO. I personally believe the SHTF moment comes prior to the election and they have to pivot and begin dropping rates shortly afterwards. That may not mean the economy immediately takes a dive, but it will in time. Whoever is the next President will have the task of attempting to pick up the pieces. JMO
Yeah, if FMG is sponsoring his channel then he's being paid to talk favorably about the company. They wouldn't be a sponsor if he didn't AND why he let it slip that he worked for Dan. Because he's being paid to do so. Also why Dan had to make the comment that he "worked" for Ron, because he's a shareholder.
Depending on how much he's being paid, I don't really have a problem with that. FMG needs all the exposure it can get. I also noticed that under the video Ron is selling "Ron's Basement" merchandise. LOL. People will buy just about anything, I guess.
I don't know if you caught the part of the Ron's Basement interview when Ron told Dan he "worked" for him. That made me think that Ron might be getting compensated from FMG for his exposure of the company. It wouldn't surprise me if he was being paid for what he does. Later in the interview Dan made it very clear that he (Dan) worked for him, not the other way around. I chuckled when he said that because it seemed to me he was trying to cover up Ron's fuck up.
IMO management needs to be as frugal. as they possibly can be because we're not rolling in dough here. The money situation is tight, and they need to act like it. I would agree with you that there's no big reason to be paying for ANY promotion right now. That needs to happen when people are interested in the miners and that's certainly not at the moment. Keep your powder dry until the time is right to deploy it. That's when the bull market finally starts up again. Whenever that happens.
I want to hear a couple things going forward. Can they make some sort of REAL effort to get the share price up from here and what exactly is going on with the various negotiations going on with the Natives around Springpole. Dan spends a lot of time talking about how undervalued the shares of the company are, but I don't recall him ever saying what they can or plan to do to move it higher now.
I'm going to pose that question to Paul, hopefully this week.
Another pundit talking about the debt crisis coming.
https://www.msn.com/en-us/money/markets/hotshot-wharton-professor-sees-34-trillion-debt-triggering-2025-meltdown-as-mortgage-rates-spike-above-7-it-could-derail-the-next-administration/ar-BB1jfnRI?ocid=msedgntp&pc=U531&cvid=e0dd351be90c4684831946953b42f7a2&ei=16
I watched the video and it sounded like more of the same from Dan. He comments that the FMG share price has been unduly hit, like the sector has and we should be valued at much higher prices. Nothing new there.
O.K., I think most of us that are bullish this Company wouldn't disagree with that point. My question to Dan would be how are You trying to turn that dynamic around? Are we just going to wait and let the share price crater or is there anything at all that You or Keith can do to turn the share price higher? Can there be a tourniquet applied to stop the bleeding share price? This is what long-suffering shareholders, like me, want to know.
I believe we're to a point in the proceedings where that's a valid question to be asked. Up until now the Company has depended on share dilution to raise working capital and move the Company forward. Share dilution becomes an even larger problem with the share price down at these depressed levels, as more dilution is required to raise the cash required to move forward. That's NOT good.
We know gold valuations are high, we know the stock market is daily breaking new records, but the mining sector just continues to get cheaper. That's the sad truth, but will the mining sector move higher in a down market too? I don't see that happening.
So, where's the bottom? I want to hear our management address what CAN or IS being done to put a share price bottom in. Excuses and laughing the issues off, like Dan so often does is IMO getting old. Insider buying hasn't helped either. Maybe Dan will say there's nothing they can do. If that's the case, then by all means just SAY IT. Dan spewing the same shit on every interview he does IMO is getting old. Tell us something we don't already know, like how you're going to fix the Cat Lake issues?
P.S.: I didn't talk to Paul last week because he didn't come back to me. My guess is he's trying to put out a lot of fires now with the shareholders that bought this last offering and now are down on that deal. Maybe next week, I'll get an audience with him?
I'm no expert on "warrants", but I'm assuming they aren't the same as a stock. If they expire worthless like our Treasury warrants did, then my guess is you might not have anything to WRITE OFF, as they
never were converted into common stock anyway.
Am I sure about that? No, but I have a call into Paul for today and I'll add that question to the list I have for him. He may not know either, but I'll ask nonetheless. It's worth asking.
When all else fails, I suppose a call to my broker would be in order.
Thanks for bringing the matter up.
So, are the Treasury warrants we were issued are able to be claimed on your taxes as a loss? I thought if they expired and never made the price target set for them that they just expired worthless and had no value? Am I wrong in that assumption?
Well, you're 100% correct if there's no gold mine built, then nobody gets shit. That's exactly why IMO they're just attempting to squeeze all they can out of FMG.
I find it very strange that they don't want FMG to build a road to the mine site, but their big request from the Company is that we build a road for them to access. LOL
Dan has commented on more than one occasion the Canadian government wants Springpole to happen, so I think regardless of what the Chief and a few people at Cat Lake may want, the government will have the biggest say of what ultimately happens there. JMO
I hope to speak to Paul this week and see what he says.
IMO the question to be answered is WHO has the final say or authority over what goes on with these areas to be used by FMG?
Is it the Canadian or Ontario governments that have the final say in moving Springpole forward or does the indigenous community at Cat Lake have the authority? I was told in the past that every other community, other than the One at Cat Lake is onboard with the mine coming to fruition, so how that works I don't know. Will it come down to some sort of vote? Who knows.
I'm guessing, but IMO this is all most likely a big play from the Cat Lake community to get more perks out of us. Dan said they were asking for a road be built for them, so they had a year-round way to get out. My guess is that this road may just be the beginning of the list of things they want.
FMG can't give them the world, but I suspect they can make promises to do things for these people IN THE FUTURE, after the mine is up and running and money is available to fulfill some of the promises.
In the meantime, the share price is and should continue to suffer. Uncertainty causes that to happen.
Charles Nenner's latest comments. IMO he makes some valid points about the geopolitical events coming.
https://www.zerohedge.com/geopolitical/war-cycle-will-continue-build-2025-charles-nenner-sees-super-bull-market-gold-silver
Article about all the Bigshots selling stocks. What do they know the lemmings don't?
https://www.msn.com/en-us/money/companies/jeff-bezos-jamie-dimon-and-mark-zuckerberg-have-sold-stock-worth-about-9-billion-they-might-think-markets-can-t-go-much-higher/ar-BB1iU5qK
Is this the problem many have been talking about with commercial real estate? This Fellow seems to think that the SHTF moment is coming in a few months. He thinks the Banksters will have to pivot and begin dropping rates at a big clip if problems start coming home to roost.
If he's right that would most likely tank the markets and set in motion the correction that needs to happen in order for PM's to move higher. Rotation out of high beta tech stocks and moves into safer commodity stocks could happen in big market move lower. Lower rates would be the signal for higher moves in PM's.