Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I know nothing about this company, but when I see "it is engaged in the acquisition for, development of, and operation of gold mining properties in the Republic of Botswana and the Republic of South Africa." I stay away automatically. IMO.
Interesting analysis. Thanks for posting.
Here is the piece about coming production:
In addition to our core assets, we also benefit from a
pipeline of past-producing gold assets. First Mining
acquired quality assets at a discount, with our Hope Brook,
Pickle Crow and Cameron gold projects, all well understood
projects with defined NI 43-101 compliant mineral
resources, significant infrastructure and untapped
exploration upside. In 2019 First Mining is focused on
completing incremental technical work to showcase that
value to the market as well as potential project partners.
And, you are right, I also noticed that he mentions terms like "potential partners", "attractive asset for a larger gold producer", etc. We know that he "has more than 25 years of experience in M&A, corporate finance and principal investing in the mining sector."
Trump has reportedly tasked aides to find a way to weaken the US dollar
Key Points
The U.S. president has reportedly tasked aides to find a way to weaken the dollar in an effort to boost the economy ahead of the 2020 election.
The strength of the U.S. dollar has proven a headache for Trump, who’s made reducing the U.S. trade deficit a priority.
Last week, the president said in a tweet that the U.S. should match China and Europe’s “currency manipulation game.”
https://www.cnbc.com/2019/07/10/trump-has-reportedly-tasked-aides-to-find-a-way-to-weaken-the-us-dollar.html
Dear Pioneer.
The problem is that you accidentally got to the wrong board. Most of the posters here don't daytrade. They are long-, mid- term investors, discussing companies fundamentals, blaming Fed for PM manipulation, etc. . Everybody knows dozens of penny stocks that are doubled and tripled in no time... just to fall back down when gang of IH traders leaves. Sorry, but you are talking to a wall.
FF is up 6.38% in Canada today. Closed at 0.25 CAD = 0.19 USD.
Implanting. Thank you for keeping the company’s IR on a tight leash. ... and keeping us posted.
I didn't see this before. First Mining Gold in local Ontario press:
Northwest gold property has “district-scale” potential
https://www.northernontariobusiness.com/regional-news/northwestern-ontario/northwest-gold-property-has-district-scale-potential-1521373
Both VALX and OTCX are back and sitting at the ask with 120K offer.
First Mining is down 2.17% in Canada (0.225 CAD = 0.17 USD) and up 3.5% in US today (.1832). My take on this: it's 4th of July week in US. Two main MMs that usually manipulate FFMGF OTC trading (VALX and OTCX) are probably on vacation. They didn't participate in trading today... which doesn't happen often. It was almost perfect supply-demand trading in US. Hopefully this will last all week. The risk: such a discrepancy between US and CA markets is an invitation for arbitrage players, who could buy cheap shares in Canada today to drop them in US at higher price.
Platinum: Don't Fight The Supply And Demand Fundamentals
https://seekingalpha.com/article/4272380-platinum-fight-supply-demand-fundamentals
BTW, the volume is down significantly so far... despite big down day for gold. That's a good sign. No sellers - just traders playing games. I have been watching L2 for several days. What MMs do is called "spoofing" - they place big 100K fake ask, which gets removed immediately if somebody actually dares to hit it with small purchase.
Added at 16s again. Next time to average down I'll sell some other stocks... No more cash... Overcoming "miners addiction"
Thanks Implanting. Let us know how it worked out. I think they don't do enough to attract investors interest to the company. IMO, just little "hype" like "the company is currently in negotiations with major gold producers" (w/o any details) would make wonders to share price. BTW, I saw a message on SH board that tries to start a rumor that FF shares from GDXJ sale went to one of Sprott funds. If true, it will be easy to confirm soon. You may want to ask Mal if they know who bought that 30+ mln block.
"5 Gold And Silver Stocks To Avoid In 2019" The author thinks that First Mining Gold is one of them.
https://seekingalpha.com/article/4271096-5-gold-silver-stocks-avoid-2019
FWIW. McEwen Mining is mentioned among "5 Gold And Silver Stocks To Avoid In 2019"
https://seekingalpha.com/article/4271096-5-gold-silver-stocks-avoid-2019
Just one small transaction added to the insiders list so far:
Jun 21/19 Patel, Samir Devendra Direct Ownership Common Shares 10 - Acquisition in the public market 13,500 $0.205
Probably we will see more when the site is updated.
https://www.canadianinsider.com/node/7?menu_tickersearch=ff
MVIS | GDXJ JUNIOR GOLD MINER ETF Q2 REBALANCE UPDATE
"... First Mining have been removed"
https://economicalpha.blog/2019/06/14/mvis-gdxj-junior-gold-mining-q2-rebalance-update/
Yes, I agree. US volume is 1.63 mln and Canadian volume jumped from about 8 mln before the close to 39,913,377 total aftermarket with closing price .205 CAD, which is 0.16 USD. I guess they are done now. If gold keeps rising I'd expect gap up here on Monday.
OK, I decided to help GDXJ. Added at 0.1685...
Total US+Canada volume was about 5.5 mln shares today. And GDXJ position is 34,591,133 now. Just 420,239 shares sold.
No, I was talking about bankruptcy case example that I described in that post. If you check other message boards, some posters are trying to scare investors by future BK if Baker is not fired. This is not going to happen here. As to lawsuits, I believe they will be settled (they usually do), and you will receive a couple of cents for shares you bought during class period.
Lawsuits have nothing to do with HL price. It's about company misleading shareholders about Nevada mines. But even if won or settled (most likely) this will not affect share price too much. Just a small extra "dividend" for shareholders who bought shares during "class period". OTOH, some time ago I had a curious situation when the company went bankrupt, and multiple lawsuits returned me even more than I paid for the shares. Not going to happen with Hecla. The worst case scenario: they will sell some of their assets to pay loans. Although, the first warning sign would be if they stop paying dividends... IMO.
According to their June presentation FF ownership structure looks like this:
RETAIL: 83.8 %
INSTITUTIONAL: 4.5 %
GDXJ ETF: 6.2 %
MANAGEMENT & DIRECTORS: 3.1 %
FIRST MAJESTIC SILVER CORP: 2,5 %
Last two numbers are in Keith's hands... if he cares about 83.8 % bag-holders, of course. I guess they will face tough questions at June, 25 annual meeting.
https://firstmininggold.com/_resources/presentations/corporate-presentation.pdf
35,011,372 shares as of today.
Well, today's GDXJ data is out. 6/18/2019 FF position is 35,475,052. So, they sold just 637,560 shares today.
I don't want to go back to our past discussion, but I believe conversion from "Mineral Bank" to "Exploration and development" status was wrong move that affected shareholders value. Currently the value of company's assets is almost irrelevant until they start producing revenue.
I see many other ETFs also hold FF shares (VanEck International Investors Gold, Dimensional Canadian Small Company, etc.). Maybe some of them will increase their positions at these low levels...
https://www.morningstar.com/stocks/pinx/ffmgf/quote.html
Well, on 6/17/2019 GDXJ still held 36,112,612 FF shares. Combined volume in US and Canada was about 3 mln shares today. It should be 7-8 mln shares daily to absorb GDXJ position by the next week. Seems unrealistic... unless some private investors swallow millions of shares. Are we going to see the day with 10 mln shares traded? I guess FF will hit the bottom on this day... 14s? .15s?
Monarch Gold Announces the Signature of Binding Letters of Intent for the Acquisition of the Fayolle Gold Deposit
MONTREAL , June 18, 2019 /CNW/ - MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (MQR.TO) (MRQRF) (MR7.F) is pleased to announce the signature of binding letters of intent for the acquisition of an aggregate 100% interest in the Fayolle property from Hecla Quebec Inc., formerly known as Aurizon Mines Ltd. ("Hecla") (HL) and Typhoon Exploration Inc. ("Typhoon") (TYP.V).
https://finance.yahoo.com/news/monarch-gold-announces-signature-binding-111500712.html
MVIS | GDXJ JUNIOR GOLD MINER ETF Q2 REBALANCE UPDATE
Additions:
Royal Nickel Corp
Deletions:
Asanko Gold Inc
First Mining Gold Corp
https://economicalpha.blog/2019/06/14/mvis-gdxj-junior-gold-mining-q2-rebalance-update/
I saw it this morning, but it shows: 05:11 PM ET 06/14/19 (Friday after market close). I don't see it posted anywhere else, otherwise I would post a link.
From today's news on ETrade:
S&PGR Lowers Hecla ICR To 'B-' From 'B+'; Outlook Negative
The following is a press release from S&P Global Ratings:
-- Silver and gold producer Hecla Mining Co. is scaling back development
at its Nevada operations, acquired in 2018, following lower than expected
production there stemming from operational problems and high costs.
-- We are now forecasting 2019 year-end adjusted leverage of about 5x, up
from our previous expectation closer to 2.5x.
-- As a result, we have lowered our issuer credit rating on Hecla to 'B-'
from 'B+', and our issue-level ratings on Hecla's $500 million senior notes,
due in May 2021, to 'B-' from 'B+'.
-- We also revised Hecla's liquidity assessment to less than adequate,
from adequate, reflecting increased refinancing risk as its debt maturities
approach and the company generates less cash flow than we had expected.
-- The negative outlook reflects our view that leverage will improve but
remain close to 5x over the next year, which could make it difficult for Hecla
to refinance its $500 million of senior notes.
For what it's worth... These guys don't know that FF has changed the name long time ago, but they still confirm their buy rating with a C$1.40 price target.
H.C. WAINWRIGHT THINKS FIRST MINING FINANCE’S STOCK IS GOING TO RECOVER
https://www.markets.co/h-c-wainwright-thinks-first-mining-finances-stock-is-going-to-recover-5/212666/
Hi Cork. It's a pleasure to see you posting again! Welcome back and hope you feel better every day.
Talking about "Mining and Metals"... Do you still own Hecla? The company keeps disappointing investors, and silver price doesn't want to cooperate.
Should we keep expecting?
"Expect HL to go to 2 today "
McEwen Mining Declares Commercial Production at the Gold Bar Mine
https://www.globenewswire.com/news-release/2019/05/23/1841362/0/en/McEwen-Mining-Declares-Commercial-Production-at-the-Gold-Bar-Mine.html
McEwen Mining Exploration Produces Rich Gold Results at Black Fox
https://www.benzinga.com/pressreleases/19/05/g13794686/mcewen-mining-exploration-produces-rich-gold-results-at-black-fox
McEwen Mining Reports Positive Exploration Drill Results from Grey Fox
https://www.financialbuzz.com/mcewen-mining-reports-positive-exploration-drill-results-from-grey-fox/
About 3 mln shares were bought by insiders during recent private placement (plus 1.5 mln warrants). The purchase price was 0.27 CAD which is equal to 0.20 USD at current conversion rate.
https://www.canadianinsider.com/node/7?menu_tickersearch=ff
because they don't have gold they claim they do.