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We Think First Mining Gold (TSE:FF) Can Afford To Drive Business Growth
https://simplywall.st/stocks/ca/materials/tsx-ff/first-mining-gold-shares/news/we-think-first-mining-gold-tseff-can-afford-to-drive-business-growth/
Thank you sterling. I hoped someone would put $20 to work.
Regarding HL... According to USW Local 5114 facebook Hecla and the Union are getting close to having an offer to workers. Hopefully, it will work, and Lucky Friday will be back to business soon.
All questions are still open (Delaware status, management, back taxes, Slovenia, 1 year of planned existence, etc.). It would just raise them to the higher level. So, I sent email to the correct addressee. You think Mr. Keshe is going to take responsibility for Global when it's clear it's role in a year?
https://keshefacts.wordpress.com/
OMG. Read my explanation about "daily short reports" from another board:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151285581
It has nothing to do with Open Short Interest.
They didn't register new "Markray" in another State, right? This Markray is Delaware corporation. You chose to believe that it's active and all taxes paid? Check dozens "honest" Markray's PRs from the past . They all were lies. Do you have $20 to make sure? I suspect that Keshe has no idea about Delaware connection and debts. All other debts went down even before the Loundry acquired Markray - they stayed in Russia. How do people buy millions of RVBR shares, but can't spend $20 for verification?
Looking at Keshe Acquisition PR... There is one smart paragraph in the document:
"Universal Garment Wash & Dye, LLC was the previous operations existing within Markray Corporation and has agreed to return to be a private company and take any of its existing debt and liabilities with them. Universal Garment Wash & Dye, LLC has returned its shares back to the Markray Corporation treasury. Markray Corporation is 100% debt free and has no convertible debentures, 504s, 3(a)10 Exemptions, or any other forms of dilutive mechanisms that could exist."
https://www.marketwatch.com/press-release/markray-corporation-rvbr-completes-acquisition-of-keshe-foundation-global-inc-organization-2019-09-19
Unfortunately, I don't believe this is true. I think authors missed the fact that Markray was incorporated in Delaware, and had a huge amount of unpaid Delaware debt since 2017. We examined this in details at that time (just search the board). There is no way for poor California laundry to pay hundreds thousands dollars to the State of Delaware. If there is just one real investor here, please go to Delaware Corporations website and pay $20 to get Markray's status and tax history. I don't hold any shares, so will use my $20 for something else. Please let us know what you see. Screenshots would be great (as I did in 2017).
FWIW, you are not "Shareholder of Record" unless you are holding shares directly with the company. Most of people are "beneficial owners" who hold shares indirectly, through a bank or broker-dealer. So, 132 are those brokerages plus a couple of strange individuals who hold certificates at home.
Short interest is practically zero for this stock: https://fintel.io/ss/us/rvbr
I haven't researched the new owner of the ticker, but normal businesses don't usually go public by buying "poisoned" shells. And RVBR is famous scam in several generations. Real investors would never touch this stock. It's for pump & dump guys, many of which have left already with 200% profit leaving bagholders to dream about "multi dollar stock".
Newmont’s Incoming CEO Says No ‘Fire Sale’ Coming for Assets
On Tuesday, Palmer said the company was forging ahead with its planned sale of Red Lake, a former Goldcorp asset, and has fielded interest from about a dozen parties. He also said any additional sales would only come after careful study, and Newmont was ready to do more work to understand what value can be “extracted” from the assets.
‘No Pressure’
https://finance.yahoo.com/news/newmont-incoming-ceo-says-no-171723429.html
I think it would be a good move if Newmont could accept FF shares and future revenue sharing as a payment. But there are other interested parties. One of them, McEwen Mining, rumored to be #1 candidate at this point.
I can only guess. As you remember, the company announced closing of upsized $7.4 mln private placement on May, 16 and filed Preliminary Base Shelf Prospectus and Registration Statement on May, 29. Both PRs meant significant dilution was coming. So, shorts felt blood and attacked the stock like sharks. Most brokerages don't let individual investors short OTC stocks. So, I believe those were institutions. Many of them just played win-win arbitrage game: buy cheap PP shares and short stock at higher market price. When/if the company announces that big chunks of shares were bought by solid long-term investors, and serious "money making" changes are coming, short sellers will start covering. As I said, I do believe our fair price is about $0.8 right now. It won't take long to get there with "right" news.
Just FWIW. Daily short volume shown in
https://www.otcshortreport.com/company/FFMGF
has nothing (or almost nothing) to do with Short Interest, which is the total number of open short positions of a security. It's just technical data that describes the trading procedures used by Money Makers. Most of these "shorts" are covered the same second/minute/hour. That's how MMs make money. "In truth, much of the short volume is due to market makers selling into the market a few fractions of a second/minute/hour before they close their position by executing a broker order. Due to the fact that market makers cover many of their positions seconds later, much of the short volume isn’t necessarily an indication of useful bearishness." https://volumebot.com/why-short-volume-is-important/ .
Most of OTC investors don't have ability to short penny stocks. But for higher exchanges you can make similar trades. The most popular method is shorting "against the box" when you hold XYZ position and are bullish long term, but expect short term price correction. Actually, I do something like this sometimes with my other stocks. There are several advantages of this approach - shorting instead of selling, when you still hold your long position. To see real short interest, delayed though, you should use data like this, for example: https://fintel.io/ss/us/ffmgf .
And, yes, FFMGF short interest is high and was growing since May (about 7 days to cover now). But this has nothing to do with daily volume you are referring to.
Yes, nobody likes dilution. The market definitely does not. Still, the value of “exploration and development” company is represented by it's market cap. Based on this number one can calculate the price of the “ounce of underground gold” that the company owns. And, as we can see from FF presentations, First Mining Gold is about 4 times undervalued comparing to it's peers & competitors right now. “Fair” share price is about $0.8 right now. I do believe that the management doesn't do enough to support share price. I even suspect that they may do this intentionally – as part of some negotiations with potential JV or merger partners, etc. For example, what would Keith do if he planed to significantly increase First Majestic stake in First Mining? Clearly he would prefer to buy FF shares as cheap as possible using AG shares that doubled in price recently. Anyway, although the market doesn't care much about drilling results and growing reserves, it will react vigorously to any potential money making news (like new significant investment by First Majestic or Sprott, new JV, sale of some assets, etc.) Just look at "peers" which share price had exploded in similar situation. Our share price would jump closer to dollar range in a minutes. Right now investors have several options: a) sell and go away; b) patiently wait for this to happen; or c) average down and trade part of their position. The latter is my choice in this situation.
Featured in Resource World Magazine:
https://resourceworld.com/first-mining-gold-a-mineral-bank-and-developer/
BTW, Dan Wilton's presentation at the Precious Metals Summit at 10:45 today.
https://www.gowebcasting.com/conferences/2019/09/11/precious-metals-summit
"string of pearls":
Regional District Potential
•
Significant exploration potential, with several targets identified along a 30 km strike length
https://firstmininggold.com/_resources/presentations/corporate-presentation.pdf
Gold Stocks Very Overbought
https://seekingalpha.com/article/4290296-gold-stocks-overbought?ifp=0
"...as they have meetings booked with institutions and major hedge funds"
I have reported earlier about my recent email communication with the company. And email from Mal started with apologies for the delayed response. The reason: "I was traveling for most of last week as we hosted an analyst site tour to our Springpole and Goldlund properties."
So, I do hope they will be able to attract some serious investors.
Thank you for your efforts TraderJoe. The question I would ask them: the Company owns several properties (like GoldLund or Pickle Crow) that used to produce gold in the past (60s-70s). What keeps them from starting production again? Just one ounce of gold produced by First Mining would do wonders to the share price.
FutureMoney Trends mentioned several miners in their promo email today. First Mining Gold is one of them:
***First Mining Gold (TSX: FF), with an extremely high-quality gold portfolio and one of the best managers I’ve ever encountered.
I have checked their latest pumps... They didn't work as intended...
Actually, First Mining was a "Mineral Bank" by design, which meant that it's properties could be sold or leased on any gold rally. It was kind of unique setup which would do more for share price in current situation (IMO). Replacing "Finance" by "Gold" the management placed FF into the long line of Canadian miners. Many of them claim to own "huge" assets, but none of them is able to produce any revenue in foreseeable future. Short term this was definitely bad for shareholders value. Now we own the stock that underperforms all other miners, and keep talking about unique "patience" that's required with this particular stock.
Mentioned in local press:
Ontario Snapshot: Companies with mines and exploration projects in the mineral-rich province
First Mining Gold Corp.
First Mining Gold Corp. (TSX: FF; US-OTC: FFMGF) has four projects in Ontario: Springpole, Goldlund, Cameron, and Pickle Crow.
Springpole, 110 km northeast of the town of Red Lake, is one of Canada’s largest undeveloped gold projects with 4.67 million contained oz. gold and 24.19 million oz. silver in the indicated category (139.1 million tonnes grading 1.04 grams gold per tonne and 5.4 grams silver per tonne) and inferred resources of 230,000 oz. gold and 1.12 million oz. silver (11.4 million tonnes grading 0.63 gram gold and 3.1 grams silver). A preliminary economic assessment completed in Sept. 2017 outlined a mine life of 12 years. At full production, the open-pit operation would produce about 296,500 oz. gold and 1.63 million oz. silver a year at cash costs of US$619 per gold-equivalent oz. and all-in sustaining costs of US$806 per gold-equivalent oz.
Its advanced-stage Goldlund project, 60 km northeast of Dryden, contains 809,200 oz. gold (12.86 million tonnes grading 1.96 grams gold) in the indicated category and another 876,954 oz. gold (18.36 million tonnes grading 1.49 grams gold) in the inferred.
Cameron, 80 km southeast of Kenora, contains 5.53 million measured and indicated tonnes grading 2.61 grams gold for 464,000 oz. contained gold and 6.54 million inferred tonnes averaging 2.54 grams gold for 533,000 oz. gold.
Pickle Crow, formerly a high-grade mine operating until the 1960s, is near the township of Pickle Lake, and contains inferred resources of 9.5 million tonnes grading 4.1 grams gold for 1.23 million oz. contained gold.
https://www.northernminer.com/news/snapshot-companies-with-mines-and-exploration-projects-in-ontario/1003809635/
First Mining Gold to list up to 55,555,556 more shares
2019-08-22 21:56 ET - Prospectus Approved
The Toronto Stock Exchange reports that First Mining Gold Corp. will list up to an additional 55,555,556 common shares. As stated in the prospectus supplement dated Aug. 19, 2019, to the short form base shelf prospectus dated June 24, 2019, the company may sell up to 55,555,556 common shares to the public pursuant to at-the-market (ATM) procedures, as defined by National Instrument 44-102, Shelf Distributions.
According to the TSX, the ATM sales will be made directly on the TSX or any other existing trading markets in Canada during the period from Aug. 19, 2019, to July 24, 2021. As a result of the ATM procedures, prices may vary as between purchasers and during the period of distribution.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C:FF-2800490&symbol=FF®ion=C
No, I didn't see this. Hopefully, they will find some big investors to absorb new issued shares. Also, I can't imaging they would do this at current price level. Usually companies issue some positive news to raise the offer price.
"some sort of financing" usually means dilution. I would prefer to hear that "Sprott bought XXX mln shares of FFMGF". Based on other similar announcements (see SLVRF or JAGGF, for example) I think the share price would double and triple in a minute.
"I understand your points in regards to the awareness that a partner can bring to the assets and company. It is an important part of the communication and on-going marketing efforts as we engage with our existing shareholders, as well as potential investors and our peers." (Mal)
Also, as I understood, they bring analysts and other interested parties to "site tours" to Springpole and Goldlund properties
Received a response from the company... They understand, agree and taking actions in this direction. Some other indirect information. Kind of encouraging overall.
Believe it or not, but...
First Mining Gold Corp Price Target Raised to C$1.70/Share From C$1.40 by H C Wainwright
11:47 AM ET 8/19/19 | Dow Jones
Ratings actions from Baystreet: http://www.baystreet.ca
> Dow Jones Newswires
I really don't have time and energy to do this again. Have to join Janice and suggest everyone, who really wants to know truth, search back DD posts made on this board some time ago. All Russian related assets are fake, Zabaykalgeoprom mentioned in fake certificate is former Mr. Feldbush "invention" that was registered in his apartment, and this "company" was liquidated some time ago - meaning DOES NOT EXIST ANYMORE.
https://sbis.ru/contragents/0313004282/031301001
Anyway, congratulation to everybody who took advantage of this ELGL pump rally. This stock is a scam, so you have done amazingly well. IMO.
I am just looking at SRVRF, which is approximately in the same "early stage" now and owns our former assets. It has jumped from 0.12 to current 0.34 just on news about Sprott buying Silver One shares and new agreement signed with SSR mining. First Mining Gold needs to bring some big names into equations. It will tell "average" investor that it's not just one of dozens companies sitting on some properties that promise to be profitable in distant future.
I actually sent email to the company today (don't do this often). Just my thoughts what the management needs to do if they really care about shareholders value. Look what's happening to Silver One share price (it's former FF assets!). Unfortunately, excellent drilling results don't attract investors anymore. They want something else. And FFMGF is my biggest holding and one of the worst performers in my mining portfolio... so far.
Very encouraging interview. Thanks.
A poster on SH board claims that Future Money Trends released a paid promo letter today mentioning FFMGF. I thought new CEO said they wouldn't use this promo methods anymore... Anyway, if true, this should help the stock price.
The first step in right direction would be ban on short selling. Short selling is illegal in many countries, and it was temporary banned in US during 2008 crash (for financial stocks). Right now MMs can sell short shares with purpose to cover them later during the day. Yes, it's called manipulation, I agree.
It's called "daytrading". Several MMs (in our case it's VALX and OTCX) are sitting at the bid and ask at the same time. They don't know and don't care about company's fundamentals, gold price, etc.) They just just sell and buy daily and usually don't keep shares overnight. Right now they keep ask at 0.2344 and lowered their bid to 0.2273. I guess, that's where they expect FFMGF to finish today.
Hecla Mining raises full-year estimates for production, AISC
https://seekingalpha.com/news/3488523-hecla-mining-raises-full-year-estimates-production-aisc
Everybody here invested in physical gold and silver.
Not sure if you ever heard about this “secret asset" in First Mining Gold portfolio. At least. I've just recently discovered it. I am talking about Silver One Resources Inc. SLVRF (SVE in Canada).
”Silver One started out with three key silver assets located in Mexico acquired from First Mining Gold Corp. (formerly First Mining Finance Corp.). “ https://www.silverone.com/ . And “as a result of these acquisitions, SSR Mining Inc. and First Mining Gold Corp. are now two of our largest strategic partners. “ FF owns about 7% of shares of Silver One. Recently SLVRF completed private placement of its units, it was oversubscribed, and Sprott bought big chunk of shares. Now “Sprott beneficially owns or controls 16,000,000 Common Shares and 8,000,000 Warrants of the Company representing approximately 10.9% of the issued and outstanding Common Shares of Silver One on a non-diluted basis and approximately 15.4% of the issued and outstanding Common Shares of Silver One on a partially diluted basis.” https://www.silverone.com/news/2019/silver-one-closes-oversubscribed-financing/
So, First Mining is in good company here: SSR Mining (formerly Silver Standard Resources) + Sprott. SLVRF looks like interesting related investment for FFMGF shareholders. BTW, this could be a sign what FF can do with some of it's other assets - sell and participate in future success through "strategic partnership".
I have 12 miners in my watch list, and FFMGF is the worst today's performer (-6.26% at this point). Just two of them are in positive territory.