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The price is in Canadian dollars: .455 CAD = 0.35 USD
Two insiders bought yesterday:
Swinoga, Jeffrey Direct Ownership Common Shares 10 - Acquisition in the public market 25,000 $0.455
Neumeyer, Keith Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $0.455
They probably don't pay salary to Mr. Swinoga, or... he doesn't spend it thinking that price will go down from here.
We need to hold $5. Otherwise investors who bought on margin will receive huge margin calls and start liquidating.
Many investors ("Keith believers") hold both FF and AG in their portfolios. First Majestic is about to become non-marginable (if it drops below $5). So, I think it will add some selling pressure to FF from those who used margin to buy AG.
OK. I see last trade yesterday:
FFMGF
02/08 0.4063 78075 OTO
I don't think this is insider trade. They don't trade on OTC. They usually buy/sell in Canada. Probably some investor needed cash to cover margin call on other securities. I wouldn't even call him "big investor" - it's less than my position, and I am very small investor.
Where do you see this? Thanks.
OK I will play. If it dips to 1$ I'm loading heavier than you. Now the ball is in your court.
I remember multiple talk-shows in 2006-2007 where everybody was laughing at "poor Peter" when he predicted coming Real Estate crash. Well, you know what happened next.
"...pass the bounty down a couple generations"
That's the problem for many old guys (like me). You can see multiple "estate sales" on eBay, where PM items are sold well below their real value. I suspect... actually, I know: the first generation will drop my "treasures" for pennies thinking "how stupid our dad was to collect this ancient garbage". So, I am afraid I am with Giovanni on this..
We successfully reached peak oil several times already.
"I assume they can still buy and sell shares over on the TSX exchange?"
FF is up 1.82% in Canada and down 1.92% in US today. This tells me that "after reorganization" selloff is probably over. Canadians had more time to sell on news; share price is almost back to preannouncement levels; and everybody who wanted to sell has already done this. Maybe one more dip Monday morning, and back to "trading as usual". Good time for the company to give some explanation about new "mining" strategy, or... Keith will have to buy another 50K shares soon.
I do trade 20-30% of my position. This helps to lower the average price paid. My guess is the share price may go down when many traders finally get access to the sell button.
I actually contacted ETrade last week. They said: although the ticker is the same, with new name the company will have a new registration #, plus "it's a foreign company"... will take 3+ business days to resume trading. Everybody can buy the stock now as FFMGF, but can't sell it.
And they are launching oil-backed cryptocurrency soon.
https://www.cnbc.com/2017/12/29/venezuela-oil-backed-cryptocurrency-to-launch-in-days.html
First Mining Finance (FF) Price Target Raised to C$1.40 at HC Wainwright
First Mining Finance (CVE:FF) had its price objective increased by investment analysts at HC Wainwright from C$1.30 to C$1.40 in a research report issued to clients and investors on Thursday. HC Wainwright’s price objective would indicate a potential upside of 115.38% from the company’s previous close.
https://www.americanbankingnews.com/2018/01/11/first-mining-finance-ff-price-target-raised-to-c1-40-at-hc-wainwright.html
BTW, now it makes even more sense to merge First Majestic Silver and First Mining Gold in future - to form a new PM producing giant.
In his multiple interviews Keith's kept telling us that market assigns to FF low multiples because it doesn't recognize First Mining Finance as gold developing (and producing in future) company. By this logic new image will help the market to put the stock into "right" category with higher valuation. We will see...
Patrick Donnelly interview:
http://www.commodity-tv.net/c/search_adv/?v=298057
"Springpole alone accounts for more than 3x the current valuation of FF"
I see activities on Stinger Bees (cork) account on Dec, 4 and today ("Bob's Saturday Night (A+L) Shoot" group). Several "Likes" and messages like this:
Stinger Bees
December 4 at 12:36pm
With no more majors until the 14th we're officially at the proverbial "Calm Before the (Darting) Storm."
.
PDC World Championship runs
December 14th - January 1st.
.
BDO World Championship runs
January 6th - 14th.
Many detailed messages in November. Hopefully he is OK, just taking vacation from iHub.
Keith did it again this week:
Dec 4/17 Dec 1/17 Neumeyer, Keith Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $0.530
LOL. I agree completely. Actually, I spent a lot of time on iHub trying to tell people that Putin is a dictator and Russia is country-aggressor (a-la Hitler-Germany in 1930s). Unfortunately, Putin is a hero for most of gold bugs here on iHub, especially for those who supported Trump election.
Russia does have the Central Bank: https://www.cbr.ru/eng/
It doesn't belong to "globalist agenda" just because Russia is not accepted to the club, and... although independent on paper, it's just a tool for Russian President, who was kicked from "globalist agenda" as well.
Trump transition team economist Judy Shelton shares her thoughts on how he's doing, who the next Fed chair may be and why the gold standard is important.
https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/judy-shelton-trump-gold-standard/
"I think Gold and Silver will Explode in less than 2 Years. Keep Trying to Buy and add Physical Gold and Silver..."
"If you only want a few let me know and I will sell you some of Mine so I can get rid of one of my Safety Deposit Boxes..."
LOL.
Keith just keeps buying 50K shares every day. So, he is approaching your 200K "confidence" mark.
Nov 15/17 Nov 15/17 Neumeyer, Keith Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $0.530
Nov 14/17 Nov 14/17 Neumeyer, Keith Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $0.520
Nov 13/17 Nov 13/17 Neumeyer, Keith Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $0.520
I don't think they need to actually sell any property. They just need to make public announcement about ongoing negotiations with potential buyer or JV partner. And... it won't hurt if this partner is solid and well known, and they can name it. IMO.
Another rule (restriction) you may want to know:
"A capital loss carryover is the net amount of capital losses that aren't deductible for the current tax year but can be carried over into future tax years. Net capital losses (total capital losses minus total capital gains) can only be deducted up to a maximum of $3,000 in a given tax year."
So, you can generate a huge paper loss "for the rest of your life" by actually holding the same portfolio, but you cannot deduct more than $3K per year unless it's covered by capital gains from this or other investments.
Yes, if we are talking about US taxes. I don't know how it works in Europe.
You can buy them any time (this year or next year) assuming that 30-day rule is satisfied.
You can sell them even in July. End of the year is just the time when people start thinking about their tax payment. Also, they think: "Everybody will take tax losses this time, share price will drop, so I will be able to buy back cheaper."
BTW, Keith bought another 50K shares yesterday.
If you sell stock for a loss, to claim this as a loss for tax purposes you need to wait more than 30 days before buying shares back. Otherwise it will be a wash-sale. So, you can sell shares by the end of December. That's why brokerages send you 1099 statements in February when it's clear which last year transactions were actually wash-sales.
Two insider buys recently. Keith Neumeyer bought 50,000 shares yesterday at 0.52 CAD (approximately $.41 US).
https://www.canadianinsider.com/company?menu_tickersearch=ff
Two insider buys recently. Keith Neumeyer bought 50,000 shares yesterday at 0.52 CAD (approximately $.41 US).
https://www.canadianinsider.com/company?menu_tickersearch=ff
To get answers this "FF holder" just needs to read the company's press releases. This "fatal flaw" is just part of economic assessment for Springpole Gold Project:
Springpole Lake Dewatering
As seen in Figure 1 below, three dewatering dikes with a total length of approximately 510 metres will need to be constructed in Springpole Lake to allow a small portion of the lake to be dewatered. It is estimated that only approximately 6.1% of the surface area of the lake will be affected. The depth of the lake at the point where the dikes are proposed to be constructed ranges from 1.2 to 5.1 metres and the height of the dikes will need to be 3 metres above the lake level. The dikes would be constructed under wet conditions; therefore, two silt entrapment curtains will need to be deployed downstream of the dike locations to prevent high suspended solids in the remainder of the lake. Prior to the placement of fill material, the foundation of the dam will need to be dredged to remove any soft lakebed sediments. The rock fill material would be placed, and then the grout curtain and plastic concrete cut-off wall would be built through the completed dike.
Figure 1 – Overall Springpole Site Plan
An estimated 21.7 million cubic metres of water will have to be removed from the area of Springpole Lake within the dewatering dikes. The PEA estimates it will take approximately 1 year to pump this water over the dikes. This can be accomplished during the mill construction phase.
The capital cost of construction of the dikes and dewatering is estimated by the PEA to be $32 million which is included in the total capital cost of the Project.
https://globenewswire.com/news-release/2017/09/21/1125765/0/en/First-Mining-Finance-Announces-Positive-Preliminary-Economic-Assessment-for-its-Springpole-Gold-Project.html
First Mining Finance Files NI 43-101 Preliminary Economic Assessment for its Springpole Gold Project
http://www.nasdaq.com/press-release/first-mining-finance-files-ni-43101-preliminary-economic-assessment-for-its-springpole-gold-project-20171030-00320
Keith Neumeyer, First Mining's Chairman, said, "This updated PEA study for our Springpole project represents a significant improvement in both economics and annual and total ounces of gold and silver produced when compared with the previous PEA completed for Gold Canyon in 2013. The PEA demonstrates that Springpole has excellent margins with low cash costs of US$619 per ounce of gold equivalent and an average annual payable production of 322,000 ounces of gold equivalent, over the life of mine. On that basis, once in production as contemplated by the PEA, Springpole would be one of the largest gold mines in North America. We believe advancing Springpole is the best way to add considerable value for our shareholders, and we are excited to move to the next priority items for the project, which are permitting and completing a pre-feasibility study."
First Mining Finance Provides Update On Permitting Activities For Its Springpole Gold Project
https://www.firstminingfinance.com/news/releases/index.php?content_id=295
Venezuela Joins the Anti-Dollar Crusade
Yet another nation is taking steps to dethrone the dollar’s leading role in the global marketplace - and it could have serious ramifications for the wealth and spending power of average Americans.
Venezuela will no longer accept oil export payments in dollars. For now, payments will be settled in euros. But there’s a strong argument that China’s new gold-backed petroyuan could soon become a permanent replacement.
As the petrodollar slowly dies, the dollar itself will fall along with it.
http://www.newsmax.com/Finance/PeterReagan/venezuela-anti-dollar-crusade/2017/10/26/id/822190/