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When I listen to the webinar a second or even maybe a third time, I always hear something that may not have caught my attention in the original viewing. That almost ALWAYS happens, and this time is no exception.
At around 49:52 into the video Dan answers a question from Mario about the valuations of the gold we have in the ground. What amazes me is that our current gold in the ground valuation is cheaper now than when Keith bought the properties in 2015. That's fucking unbelievable and IMO just shows how unloved and out of favor the miners are. That was also with the gold price then being at a much lower price from where it is now. It's almost inconceivable that this could happen, but it has.
Listen to that part again, it's well worth it.
Here's the link to the webinar from the other day if anyone hasn't watched it or wants to watch it again.
https://firstmininggold.com/investors/media/
Recent Jim Rogers interview and not much different from what he's been saying, but the BIG thing that struck me from what he said was the way he became very successful was BUYING CHEAP.
As simple as that sounds, he's right because we as humans are programmed to panic and sell if the markets are tanking rather than being a buyer. IMO that's near to where we are in the mining sector now, close to a bottom. That's not to say we can't fall further and sentiment can get worse, because I think it will, but if you know what your buying and it's beaten down, that's the time to buy. Well run companies don't stay down forever.
https://www.zerohedge.com/news/2024-01-25/jim-rogers-and-his-survival-plan-coming-debt-collapse
Another good article on what's happening in China now and what it may mean for the rest of the world.
https://www.zerohedge.com/news/2024-01-24/will-growing-china-crises-infect-world
A couple of things I didn't put in my last post to you.
I think there may be another BIG reason Keith wants to get his share levels up to the 50M mark. That being he wants to make damn sure that if there are any hostile offers made for FMG at some point in the future that HE AND OTHER STRONG HOLDERS of FMG shares maintain control in number of shares held. At the end of the day that matters and the cheaper our shares become IMO the likely hood of that happening increases.
We can't lose sight of that very big point, because he who holds the most shares has the ultimate say in what happens.
As far as the Lassonde Curve question goes, I asked the question, and don't know if anyone else did, but I think Keith just didn't have time to answer it. IMO his answer would have most likely been something close to the upturn in the Curve for us would be when the SPRINGPOLE PERMITTING gets approval and the mine building decision is revealed. That should be the time when the big rise in our share price is realized. Of course, other events might preempt the move before that happens, like higher gold prices or offers to buyout or JV with us. JMO
FMG is a gold DEVELOPER, currently, as is stated by the Company. We're in the process of becoming a producer, but past the stage of just being an explorer. Of course the exploration is always ongoing.
https://firstmininggold.com/
https://www.bing.com/search?q=what+is+a+gold+mining+development+company&form=ANNTH1&refig=99ceb54035ec4412befd67fdb2f16114&pc=U531&ntref=1
As I recall FMG was dropped from the GDXJ index because of our shrinking market cap. Van Eck raised the market cap valuations in the index at that time and that pushed FMG out. I haven't heard anymore about it since we were taken off the index. Maybe that changes when the sector comes back into favor.
https://seekingalpha.com/article/4311495-10-gold-mining-development-projects
It was worth watching and any input Keith brings to the discussion is valuable IMO. I asked a lot of questions; I think I submitted at least 5 or 6 questions.
I know they want to spread the questions around, but some of the questions people ask over and over again to me seem redundant. I.E. the reverse split question. Keith answered it yesterday in great detail and hopefully all the people who keep asking this question have some closure now. I don't know how clearer Keith has to make it.
Anyway, the things that matter to me are obviously issues like interest in the Company from other entities, negotiations with the indigenous communities around Springpole, Duparquest development, and finding more gold on our properties. I thought Keith did a good job, reiterating why our share price and everybody else in the mining sector is DOWN. What I've been saying for years now. The market has to rotate out of tech stocks/AI stocks and into the commodities/mining sector. I don't believe that happens until we see a big move lower in the overall stock market.
To your point about Keith and Dan buying a lot of shares. I would agree the numbers are big, but at the current depressed price of FMG shares we're not talking about a lot of money, but more impressively they are putting their money where their mouth is, as Keith made mention. I think Dan said he
bought a half million dollars worth of shares in this last offering, not bad IMO. Keith saying he wants to own around 50M shares by end of year isn't shabbly either. I think this should indicate to us that the bottom in our share price is closer to being here, than being further down the road and the potential for a turn higher in the share price isn't as far away now.
I'll go back and watch the webinar again to comment on more specific things I may have missed yesterday. There's usually little things I may have missed in the first viewing.
Good Gary Savage technicals interview with Tom from Palisades Gold.
Well, I thought the webinar went pretty well overall. My only bitch was that Keith didn't get to talk as much as I would have liked. If I had my way the whole webinar would have been just Keith, Dan does a good job, but he tends to get off on something that takes too much time out of the webinar. It only lasts an hour.
One of the big things I learned from the webinar was Keith revealed the number of FMG shares he owns now and what he hopes to own by year end. If I heard him correctly, he said he owns 28M shares currently and he wants to own 50M shares by the end of this year. That almost doubles his share count. He yet again, had to speak to the reverse split Idiots that ask about that on every call. I would quit even commenting on it. Keith has been more than clear on why the Company won't do it. Time is wasted on every call to rehash the subject.
I also liked that someone asked the question if FM was interested in merging or buying out FMG at these cheap prices. Keith was fairly diplomatic with his answer, he said the thought has crossed his mind, but he didn't think the FM Board would want to get into being a gold and silver producer now, but to stay as JUST a silver company. My rebuttal to that would be, then why did FM buy Jerritt Canyon, as that is mainly a gold mine? IMO he said that to indirectly deflect the question. I still believe if they don't get the offers they feel are adequate when the Springpole permitting is completed we could see an offer made for FMG by FM or they would do some sort of merger deal. Of course, they can't say anything about that now. That will have to come later, after our permitting is approved.
Dan spoke briefly on the indigenous talks and he seemed to say it was going o.k.
Webinar starts at the top of the hour. Keith and Dan will be there taking questions for those asking them.
Go to about 43.30 of this George Gammon interview and listen to what he says. He makes some very revealing points about deflation/inflation, debt, and most importantly government spending. Listen very closely to the comparisons he makes about 1880 (when we were on the gold standard) and the last 15 years we've seen with all the inflation created with fiat. The wealth shift is like night and day. Note prices dropped from 1880 to 1895 like 40% and wages were going higher!
Why? Because the government was only 5% of our economy back then, the free market ruled the economy. You may want to listen to the balance of the interview as he gives some other interesting tips.
I've posted John Rubino on this board before. If you've never listened to what he has to say I strongly recommend you listen to him. Rubino is very articulate in delivering where we are now and what's coming. His insight is amazing. The Fellow doing this interview asks some very good questions too.
Thanks for posting those results. I almost overlooked them. LOL
More outstanding drill results from Pickle Crow. IMO the 30% portion we still hold of this property may be worth more than any asset that we have partnered with to date. I would be curious to know now to what level that brings PC to in gold reserves?
I guess they think printing a lot of Yuan is as good as printing a lot of dollars. Their problem would be NOT to blow bubbles and create all the issues that fiat money printing cause, whatever fiat currency is used. Namely these boom/bust cycles that happen with overleveraged economies. That's certainly not just the U.S.'s problem.
If they were on a gold standard or at least some sort of quasi-gold standard their economy would be much more stable. China had a real estate bubble and now apparently the stock market is cratering too. The talk was that all the gold they've been hoarding for years was supposedly for them to announce at some future time that the Yuan would have some gold backing. I don't see anyone accepting the Yuan in a big way until that happens. Gold-back currency brings credibility to that currency. JMO
It appears China is trying to do what the West has been doing to prop up their stock market and problem areas like real estate. This interview is from this morning.
As someone without any kids, all I can comment on as far as college financial assistance goes IMO it should be merit based when it comes to giving or receiving any loans. It should be taken into account that you HAVE to attempt to get a degree in something you can legitimately pay back the loan with. Any loan should be based on the recipient having GOOD GRADES, if your grade point average isn't up to snuff you don't get a loan period. Lastly, not only should the loan recipient be liable to pay back any loan THE PARENTS OF THE LOAN RECIPIENT SHOULD HAVE TO COSIGN AND BE RESPONSIBLE TO PAY BACK ANY LOANS DUE BY THE RECIPIENT IN CASE OF THEIR FAILURE TO PAY. I don't know if any of this is even done currently, but it's just common-sense stuff.
Student loan forgiveness by these Assholes in government sends the wrong message to everyone. I heard on the news just the other day they said that since they suspended the loan paybacks and it came out recently they had to be paid back. That of the people that still owed money about 40% of them were still delinquent in making their payments. In other words, almost half of the people quit paying back for any student loans at all. Thanks Dementia Joe.
IMO the problem is we have way too much government intervention now, with everything, not just student loans. We've abused the privilege we've had since the end of WWII with dollar dominance and now that's coming to an end. The Powers That Be know it's coming, but still want to maintain their control over us by printing more, only bringing us more inflation. We know how that's going to play out. Not well.
I would add a thought to my prior post concerning the $10K gold price.
It's really hard to see how gold would get to $10K per oz. for me, UNLESS it's in some way repriced higher by the Powers That Be or if we go back to at least a partial gold standard. I can't see how in our current manipulated set-up for gold that it could ever get to $10K otherwise.
I do think that if we see gold at $2500-$3000 per oz. in the next move up that will prompt investore to get into the miners. I definitely think. we'll see a lot of consolidation in the mining sector too when that happens.
I really thought that short segment when Gundlach spoke on the debt, social security, interest rates, etc. was fantastic. He summed the whole thing up quite nicely and even mentioned ways to fix the problems.
Loved the part where he said his Grandad wouldn't cash his social security checks because he thought it was immoral and he was POOR. Those were the days when people actually had morals, not so now. These days everyone is figuring out ways to game the System and get a free ride on the government dole. This country has become a bankrupt, welfare state, and Gundlach said as much.
Social Security is a whole other topic of discussion and why these Idiots in government aren't attempting to fix it now is beyond me. The government has to make the Taxpayers at least BELIEVE they'll be able to get the benefits they're currently paying into it and currently IMO they're doing a really bad job of it.
I've become a pretty big Fan of Gundlach in the last year or so because he seems to be a straight-shooter that's willing to tell it like it is. I hold a certain amount of respect for all the people he chooses to have on his panel speaking to what they think is happening in the economy. Top notch brain-power in that group.
Good to hear from you COminer, it's been a while.
I agree it's really shocking that the share price is down here, but if you look across the mining sector and the same is true for many of these mining companies. The marketplace has totally disengaged from the reality of what some of these companies are worth. I think FMG is definitely in that group.
Unfortunately, this is not the first time this has happened, and this sector is now probably the most UNLOVED it's ever been. If we see a stock market correction, I expect it to get even more unloved, as crazy as that sounds.
I would be uber-bullish any PM miners at $10K gold, but we are most likely going to see some more pain before any big move higher for gold arrives. There's some history with that also. I'll be adding more shares when I think the time is right. I still see good things happening here.
I've watched these discussions that Jeff Gundlach hosts for the last couple of years and they're always good. The participants are all people we know.
This latest version is no different and the discussion is very revealing. If you don't have the time to watch the whole video, you MUST watch this portion of it.
Go to about 50:10 into the interview and listen to what Gundlach is saying is coming.
So, what's he talking about? The same thing Prof. Steve Hanke has been saying for a long time now. Inflation is a monetary phenomenon. Too much money creation causes inflation. He also speaks to our unsustainable DEBT and how that's going to bankrupt this country IF it's not addressed. Gundlach isn't a doom and gloomer, but he's making it very clear what's going to happen if they don't change the trajectory of what's going on. Listen to what he's saying they have to do to fix the problem.
Essentially, much, much less government give-away programs.
Great article speaking to the coming runaway inflation that we're going to have as a result of rampant fiat dollar creation. We're going to be the next Argentina. I believe their inflation rate was 200%. We won't be able to afford anything bought with worthless dollars. The Ponzi scam is being revealed to everyone now and the reasons to buy dollars are dwindling rapidly, as is mentioned in the article.
The rest of the world is sniffing this out and soon the only entity buying our debt up will be the Banksters/Fed. That's what this is a coming down to. The government spending is out of control and all they can do is keep passing these bogus "continuing resolutions" to keep the government funded.
All the more reason to be in tangible, hard assets and out of fiat that's losing buying power by the minute. Physical PM's are a must in this environment IMO. At the very end of this article the author is calling for $10K gold in the not-too-distant future. Can you imagine where the FMG share price would be with $10K gold? My guess is by that time ALL gold mining operations would be nationalized already.
https://www.zerohedge.com/news/2024-01-19/blueprint-how-dollar-goes-kaput
I keep posting these Chris Vermeulen interviews, not because he's saying anything different, but because he does such a great job explaining what he thinks is coming. I agree with him on this.
I recommend listening to the whole interview, but you definitely want to listen to his ideas for the dollar and PM's going forward. Go to about 24:15 in the video where Chris begins commenting on where he sees the dollar headed. After that he speaks to how gold should move.
Chris thinks the dollar will break-out higher and maybe move to all-time highs, this will come about as we see a big stock market correction and a LOT of fear/panic selling come into the market. PM's should fall with the market fears for a time and IMO this will be the last great buying opportunity we see in gold, silver, and the mining shares. Of course, at some point the Fed will have pivoted and will start dropping rates in a big way again, but that won't stop the fall in the stock market until we see a big move lower. A bear market correction, like in 2008.
Chris is uber-bullish PM mining shares after this final correction and rotation back into commodities, gold, silver, and the mining stocks. I don't think the fall in the price of FMG is over just yet. All mining stocks will drop further with the big correction in the overall stock market, but when they finally bottom they're going to really be cheap. IMO this will most likely happen this year. We'll see.
Another article speaking to the financial "shit storm" hitting China at the moment. They're having to suspend any short selling and the article states
a loss of $6.3 trillion in market cap losses. Not good for them.
https://www.zerohedge.com/markets/china-stocks-hit-rock-bottom-after-63-trillion-market-loss-brokers-suspend-short-selling
Did anyone see this article. I was watching Fox News the other day when they showed a clip of Trump and Ramaswamy began talking about doing what they could do to NOT allow CBDC to come about. They spoke about all the negative implications for it and how under a new Trump administration he wouldn't allow it to happen.
This article speaks to that and much more.
https://www.kitco.com/news/article/2024-01-19/cbdc-outlook-2024-trump-joins-battle-future-money
Such a deal! Only $2 million for the decerning buyer. LOL
Take that Zuckerberg.
https://www.zerohedge.com/technology/doomsday-bunker-blast-doors-emp-shielding-listed-zillow
Yes, it would appear China is and has been in recession already, so the people are suffering now and most likely becoming more and more restless. A lot of wealth and manufacturing industry has left China for other countries, like India, so that's work China will probably never get back. When the U.S. begins their slowdown that will put even more pressure on China because we won't be buying as much "stuff" from them either.
So, what's Xi gonna do then? IMO the situation may be ripe for Xi to distract the Chinese people from the bad economy to invading Taiwan. He may not have any choice, but to do so. There's a lot of wealth in Taiwan and if Xi goes in and takes it that could be a big shot in the arm of their economy. Xi's hopes of getting a PRO-Chinese government in Taiwan were just dashed with the recent election, so it's looking more and more like an invasion could be the outcome IMO. Time will tell.
It would bring on much more geopolitical turmoil, but should be fantastic for a higher gold price.
Yes, your timber comparison sounds much like what the mining industry has to go through. I would expect there to be a lot of back and forth type negotiations going on between the indigenous communities and us, but in the end it's really a big win for those communities that really don't have much. Any opportunity to make their lives better to me would be something they should be happy to embrace, of course they want to get all they can. More jobs and additional money in their pockets would seem attractive to most people, especially those that live soooooo far out in the sticks.
I don't know to what degree the Canadian government or Ontario play in bringing the two sides together, but we know it's in their best interest to get the mine built and operational. I feel pretty confident that our Team will get it done. A little more color at the webinar would be nice.
The Chinese plunge protection team is having to do their thing now. If their markets crash will that have a contagion effect for the rest of the world? Hmmmm.
https://www.zerohedge.com/markets/chinas-plunge-protection-team-buys-billions-etfs-halt-market-rout
Yeah, we know that getting approval from these "out of the way people" usually requires things to help them come into a more modern world. They're so off the beaten path that they have very little infrastructure like schools, roads, etc. to depend on. It's not surprising that they ask for as much as they can get when it comes to approving a mine be built. Keith and folks like Steve Lines are acutely aware of these issues. Problem is most shareholders, like me, aren't fully aware of exactly what it means to the permitting/negotiations process going forward.
It stands to reason that the Canadian government would get involved in some capacity to make the Tribes involved become compliant and get in line with the mine approval. After all, it wouldn't just mean the addition of much needed infrastructure to the area, but most importantly it would also become the
biggest jobs provider there too. Paul, told me there is a very high drug use rate up there. I can see why that would be. That may be because there are very few jobs there and absolutely nothing for the natives there to do, but stay high and drunk. My guess is there's not much of a night life at Cat Lake. LOL
We should have that turn higher in the Lassonde Curve begin after Springpole is permitted or when the mine plan is finalized.
The subject I want some clarification on is what's going on with ALL the indigenous communities around Springpole and/or communities around Duparquet.
I would like some specifics on the problem areas (like what's going on at Cat Lake) and if there's other communities pushing back on a mine at Springpole. I want to know how critical in holding up the permitting process and getting some or all approval from those indigenous communities necessary to get the mine permitting across the finish line.
Paul, told me their approval wasn't a game changer, but that they would prefer to get all the communities onboard with the mine. Dan stated the people at Cat Lake wanted a year-round road access into the town for approval. Maybe something like that could be built, in time, and that could happen AFTER the mine is up, running, and making money. I would like to see where we stand in those areas.
Another question to Keith from me would be where he sees us in the Lassonde Curve move. My guess is that we have to get Springpole permitted before the UP TURN in the Curve begins. I'd like Keith to put some color on that subject if time permits.
Yes, please ask that question in some capacity and direct it to KEITH. We know he won't be able to answer it with any specificity. but maybe he can shed some light on which way they're leaning
I fully expect Keith to keep a majority stake in FMG, even if FM doesn't merge or buyout FMG. Dan always talks about doing a JV deal or being attractive.to outside parties, but by having FM sitting on our sideline we have another very big option available to us. I would expect the big hurdle to clear for FM would be the availability of capital for them when the permitting is completed, and a mine plan is to be determined. Where will the silver and gold price be at that time? What will the status of Jerritt Canyon be at that time? These are questions yet to be determined, but it's my best guess that our Management is weighing these things, along with all outside JV interest in FMG.
We know that higher gold and silver prices moving forward will be a major catalyst. for merger activity and borrowing capital for mine development moving forward. Imagine how a gold price of $2500 and $35 silver would situate a company like FM. They would be a cash cow literally and that opens a lot of options for them and us moving forward.
You make an excellent observation that I hadn't thought of either. That FTX thing.
They've been sending so much fucking money over there and NOT been following where most of it goes, you know that's what's happening. Not only that this money is paying not only for the war, but to pay for the Ukranian government infrastructure. Things like pensions and the like. I'll bet Zelensky himself has gained big financially since this war started.
There's been no accountability for where most of this money is being spent or where the weapons go after they get to Ukraine. They've found some of the arms sent to Ukraine being sold on the black market. Anything being sent to the Ukraine needs to be policed by us and hasn't been.
These continual wars are going to just add to the eventual downfall of this country and a quicker destruction of the dollar.
I agree with You that Dimon is talking his/the Bank's book, no doubt about that. We know JPM is investing in Bitcoin/crypto assets in speculatory ways, even if Dimon claims he doesn't like them. The Banksters will back ANYTHING that they feel will make them money, hence the recent approval of the Bitcoin ETF.
I don't believe for one minute the Bitcoin ETF would've come to being without the Banksters approval. Does that mean Bitcoin or a Bitcoin ETF will last? Not if the Powers That Be don't want it. Dimon even made the comment he doesn't think Bitcoin will be around at some future point. He should know that better than anyone else, the Insider that he is.
Dimon made the claim he didn't know how QT or QE were affecting the economy. Ha, that's rich, this Man is one of the top Banksters in the world! To make that claim is very telling IMO. That says to me NONE of these Assholes have a clue about what they've been doing to keep the House of Cards from crashing down at some point. Powell and his Minions most likely don't know how this all washes out either. Nobody bothers asking them what they're doing. Their actions have not been realized to this point. Maybe that's what Dimon means by not knowing how it ALL WORKS OUT.
All this is being done on the fly, so how it all ends is anyone's guess. Including their's.
P.S.: Bitcoin or crypto IMO has come about mostly because of fiat debasement. I still believe in time the Powers That Be will ban Bitcoin or make it in some respects useless. CBDC is their final goal because IMO that puts them in total control of the money systems and control of the people.
O.K., I just watched these two video interview segments with Jamie Dimon on CNBC. This is a VERY surprising tone that Dimon has IMO. He's almost endorsing Donald Trump. Wow. He talks pretty bearish about what's coming and even though he's one of the top Banksters he says he still doesn't know how QT or QE will affect the economy. How can you admit that as One of the country top bankers? Even if you don't know, would you have the balls to admit it in public? Amazing.
Latest Gareth Soloway interview and speaking to where he sees gold going. Also what he sees the dollar doing.
https://www.zerohedge.com/news/2024-01-16/gareth-soloway-next-break-out-gold-imminent
Amazing. Zelensky is now over in Davos looking for more money from the Elitists Banksters or probably anyone that will give him money. There's no telling how much personal wealth Zelensky himself has amassed since the war began. Why in the Hell isn't he back in the Ukraine managing the war itself?
I suppose that's not as fun as being in Davos having a good time. You can't make this shit up.
https://www.zerohedge.com/geopolitical/zelensky-courts-jpmorgan-bank-america-bridgewater-ceos-davos-urges-more-west
This article suggests that the Banksters are moving to stop the QT soon, so when that stops we know QE won't be far behind in starting back up.
https://www.zerohedge.com/markets/its-all-over-now-powells-wsj-mouthpiece-jpmorgan-confirm-qt-almost-over
I got an email from the Company saying they will have a webinar next Wednesday the 24th of January.
Dan and KEITH will both be there and taking questions. I love it when Keith's getting involved.
My guess is that the webinar will be very bullish and speaking to what happening at both Springpole and Duparquet. Should be interesting. Keith always speaks very candidly, and I like that.
Excellent short interview. Matt is great as usual. I was glad to hear Dan explain about the shelf prospectus and how it works.
I think what he said about Duparquet is very important and it's amazing to me how our share price reflects NO value being given to the huge potential at Duparquet. I believe he said they have hopes of there being around 10 million ounces at the Duparquet district. That's a hellava lot of gold. We're getting no credit for that whatsoever IMO.
Hard to believe Dan has been with the Company five years now. I give Management (especially Keith)
a lot of credit for putting his money where his mouth is. Not only did He participate heavily in the offering he's bought 1.25 million shares in the last month on the open market too. That's a strong statement.
Well, how low it goes is hard to say. How low do THEY want to take it? You know there will be copious amounts of manipulation involved to drive it down. Until they quit driving down the price and let it take off higher, then they'll be pushing the move up in large part.
Kranzler made the comment that when the gold price got just over $1000 an oz., that it reversed and dropped back down into the $750 range before it turned around and made the big move up. He blamed most of the move back down to $750 to manipulation, although IMO some it was people selling into the overall market sell off. A drop from $1000 to $750 is a 25% fall, if my calculation is right, so a 25% haircut from $2000 would be around $500 or a $1500 gold price.
Can it get that low? Who knows. It might with some help by the Powers That Be.