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Lots of volume (FMG) on US and Toronto exchanges today. Hopefully people are waking up to where the real opportunity is going forward.
Hey Implanting - tough not to add shares at this price. Gold is going up, the story is getting better each day, every day gets us a day closer to a permit and stock is at all time low. Picked up shares on Thursday and more on Friday. Will keep buying monthly as long as price stays under 20 cents US.
Wonderful - I just bought some more shares yesterday. Just goes to prove that getting these permits is not easy! Stay the course FMG.
Great interview - glad to hear JC pushing down into the juniors. Loved his comment about a 50 bagger being found there - won’t it be fun if FMG is the one?
I agree Implanting - moving all the properties down the path of permitting and finding new gold add to the great story and potential for FMG. I’ll continue to have high expectations but will be patient as well.
I think an update on the drilling progress is long overdo. The fact that they haven’t provided an update leads me to believe that not much is happening on that front. Hope I’m wrong.
I’m grateful that we acquired a second 5 million + ounce property last year so my new year resolution is to not harp on the lack of drilling at Cameron (well at least not for the 1st half of 2023)
Implanting, I agree with everything you said. Happy New Year and thanks for all the valuable information you bring to the forum
SeaBlue, the acquisition of Duparquet is evidence that the general investing community is not paying attention to the Junior Miner space. That was a huge deal that went unnoticed. I know that cash management is key the next couple of years but I wish that FMG would aggressively drill Cameron. Having a third 5 million ounce property would make FMG even more unique in the Junior space. I know I have beat this drum before so I’ll stop flogging a dead horse!
Alexco demonstrates that if you put a mine into production and miss every production target, eventually the market will stop spilling cash your way. They built a great mine and Hecla is a great play going forward. I feel that in time I will recoup my initial investment but it won’t be the home run I thought Alexco would be. I wish that First Majestic (Keith) picked the property up instead of Hecla.
Not much news on Silver One. I am holding what I have but don’t plan to buy more.
Happy New Year SeaBlue. In the mining space I took a position in 5 companies a year or so ago. 4 were recommendations from Keith (snowline, Nevada king, silverone and nano one). Snowline was a nice runner. Recently sold half my position to buy more FMG. Nevada King and silverone are down around 50%. I continue to buy nano one on weakness. The fifth stock (Americas Gold and Silver USAS) I bought because Pierre Lassonde was buying it on the open market. Added to it on weakness. Kept adding to my Alexco position which ended up being a mistake based on Hecla taking it over for pennies on the dollar.
Will nibble on all these in 2023 but planned to stay focused on adding FMG. I know they are in the middle of he Lassonde curve which infers that it is dead money til permitting, but if Gold heats up this could pop long before permitting
Implanting - hope you’re right on the ten bagger - that would be a huge shot in the arm for my portfolio. Cheers to a profitable 2023
I plan to add more shares on a monthly basis for as long as FMG stays under 20 cents. I hope the dude doing the videos out of his basement is right and we end up with a 10 bagger. I’m thinking a 4-5 bagger is very realistic here. Cheers to a profitable 2023!
Just did some post Christmas/pre New Yesr shopping today. Added some more shares in hopes of a breakout in 2023. Happy New Years to the FMG loyalist!
Good to hear Gareth’s view on 2023. Hope he is right on Gold setting a new high next year
Hey gang - this is a guy who operates out of his basement. My nephew has found other YouTube videos of this guy where he touts FMG. If I’m not mistaken I think Dan may have done an interview in his basement some time back. Oh well - he is worth a listen.
There has been so much money printing and huge government deficits that a run up in the precious metals is long overdue.
The Fed is beyond pumping the brakes with these rates increases - they are slamming on the brakes - a reversal should come in 2023. Otherwise, the real estate and stock markets will be in jeopardy of a crash.
Time will tell.
There has been so much money printing and huge government deficits that a run up in the precious metals is long overdue.
The Fed is beyond pumping the brakes with these rates increases - they are slamming on the brakes - a reversal should come in 2023. Otherwise, the real estate and stock markets will be in jeopardy of a crash.
Time will tell.
I’m a big fan of Keith. Own shares in First Majestic as well. Actually they just sold a property to a Junior silver company that I have owned for 30 years. That stock has a trading halt for the last week so not sure how the stock will respond when it trades again. How’s that for patience? FM will hold 40% of shares after the deal closes.
Keith is always on the move.
Implanting - I have been betting on $3,000 gold and $50 silver for the last 2 years. Been wrong so far - hopefully 2023 will make me and many others right!
Thanks Sea Blue and Implanting for the updates.
Evident that progress is being made on many fronts. Always risky with these juniors and their constant requirements for more cash. Sea Blue and I had a small silver producer with great upside potential taken out by Hecla at a huge discount a few months back. Always a risk when you need cash and your share price is at a rock bottom level.
I assume that our 20% interest in PC and Treasury shares will be on the table as well. Either those or a royalty deal on Springpole or Duparquet production?
Let’s see what 2023 brings. Happy holidays to all!
Hi - Hope all is well by everyone. Curious if Dan had anything to say about drilling at Cameron? Would be great to see them develop a third 5 million ounce plus property.
I plan to pick up some more shares in January. Rode one of Keith’s recommendation (Snowline) from $.50 to $2.75. Going to take some profits after 12/31 and belly back up to the bar with FMG. Hope they can make a run like Snowline in 2023.
I think they’re happy to just have Auteco, Treasury and Big Ridge be the explorers under the FMG umbrella (even though we have a small percent of the action).
They’ve been dragging their feet on drilling for the couple years we’ve been talking about it.
If silver gets to $100 we’ll all be flying first class to next shareholders meeting to smoke big fat cigars! At $100 silver, FM would be a 10 bagger in my opinion.
Annual Revenue would grow from $584 million to $3 billion and cash flow would be around $2 billion.
If they can only drill one property it probably makes more sense to drill around Springpole to determine the potential of it being a district.
Would love to see FMG aggressively drill at Cameron as well. Be great to increase that resource and have it on a glide path to a production decision somewhere down the road.
We’ll see soon what the management team decides.
I think you’re spot on about First Majestic and Keith. High probability that will play out very favorable to FMG and the long time shareholders.
I’m curious to see what the drilling plan looks like, but will be patient until it’s revealed. I have my opinions but have to assume the Dan and team are evaluating the pros and cons of the various market conditions/options and will make a good decision for the path forward. I think most of us agree the Springpole permitting in priority 1.
Many of my silver explorers are popping nicely the last couple months - hopefully the gold explores will follow in short order.
Thanks for you feedback, info and insight. Have a great weekend Implanting.
First Majestic reported 4th quarter earnings today. Revenue up 64%, cash flow of $66 million and cash on hand of $248 million. All good news for FMG.
Aware we need to do a certain amount of drilling for a few of the earn in deals around Springpole but not giving much thought to it until I hear a detailed plan of meters they expect to drill and $’s it will cost. Appreciate the fact that our 3 partners have been aggressively drilling their projects - that’s where increases in the resource will come from for now (even though we only benefit 20%).
I was a proponent months ago of FMG doing aggressive drilling, recognizing that it would burn though our cash on hand. In retrospect, it appears that the market is not rewarding new discovery. Auteco doubled their resource and their stock price in down. Many other examples out there of similar situation. In time, that will change - just unclear if that is days, weeks or months away.
Rooting on $2,000 gold and $26 silver - be a nice way to end the week.
Whether it’s spoken publicly or not, I’m comfortable that Keith is not going to let a third party come in and walk away with Springpole/FMG on the cheap.
Be nice to see FMG drill out the Springpole district and Cameron but I don’t get the sense it’s high on the priority list. In the short run best we can hope for is gold breaking through 2,000 again and making a run at 2,500.
I’m locked and loaded here - going to sit back now and enjoy the run back over $3 and see what happens from there.
I think a couple good quarters of production and $30 silver will put Alexco over $5.
Implanting - I wasn’t sure if Dan was referring to someone coming in on Springpole or trying to take FMG out in a hostile way being that the share price is so ridiculously low. In either case I do agree with you that Keith would most likely fend that off from happening.
Sad that gold was up $50 today and our share price was down. Dan mentioned that our share price was in the top 25 percentile last year. Curious how he arrived at that figure. The GDXJ was up .8% today - FMG was down 1.6%. Gold and the GDXJ are up approximately 14% this year, FMG is up only 3.5%, putting us in the bottom 25 percentile so far this year.
Look forward to seeing us make up some ground this month!
Thanks for posting SeaBlue - I have seen this guy interview many miners in the past and I find him to ask many relevant and direct questions. He effectively presses up when he doesn’t get a direct answer to his questions.
I think Dan can do a better job boiling things down to an elevator pitch. I think he got a bit into the weeds here.
I bought more shares recently because:
1. FMG has a flagship project 100% owned with 5 million ounces and an NPV of $1 billion at $1,600 gold. At the current gold price the NPV is over $1.5 billion and the company is grossly undervalued with a market cap of only $160 million.
2. FMG has 3 partnerships where they retain a 20% interest, royalties and a free ride. The partners did over 100,000 meters of drilling in 2021 and have a combined resource of over 5 million ounces, and
3. FMG has enough cash/marketable securities to get their flagship project to a construction decision in the next 3 years and when in production it will be one of the top 5 mines in Canada.
I’m aware there are other positives but these are the 3 key points that drove me to buy more shares. I think Dan can do a better job reinforcing these points to current and prospective shareholders.
Yes it’s 3X. It was the USLV fund before Credit Suisse dropped out. The volume of trades aren’t what the USLV had but it does have a market.
Hi SeaBlue - I picked up shares in August at $1.59, January at 1.52 and on Friday at $1.80. Probably good timing to catch the ride back up. I think there will be lots of pressure on the shorts in the near term and maybe we see a quick run to $30 silver and Alexco back over $3.
On another note, I mopped the deck buying my position down in First Mining Gold last week at $.225.
Good luck if you decide to pick up more shares.
JohnCM - USLV now trades OTC under symbol USLVF. Not a lot of volume but the fund does still have over $70 million in it. Be careful of a fees. Good fund for getting in and out of but if you hold over time the fees will eat your principal.
Excerpt from a KITCO article,
“In a stunning inflation report coming from the Euro zone, its January producer price index rose 30.6%, year-on-year, mostly due to rising energy prices.”
ALL ABOARD!
The stage is set!
Well said Implanting
Well said Implanting
Well said Implanting
Agreed Implanting - you always have to enter these juniors with your eyes wide open and a high tolerance for risk. As you know, not many things more fun than owning one of these when it shoots the moon - let’s hope FMG’s time has arrived.
Implanting, Keith appears to be connected into a bunch of interesting people. Wouldn’t be surprised if he entertained a few conversations with big end users. Not sure I could see him given up control but for the right price who ever knows.
Always learn something new every time I listen to one of his interviews.
I saw a few other interviews from the conference - Keith is part of an impressive crew - Pierre Lassonde, CEO of Barrick and CEO of Wheaton. I think Keith will keep driving First Majestic to new heights and ultimately his success there will mean good things for First Mining.
Thanks for the vote of confidence Implanting.
A market cap of $160 million for FMG makes no sense to me. Accepting that Auteco’s $100 million and Treasury Metal’s $80 million market cap are fair value, then FMG should have a market cap of at least $480 million in my mind.
Time will tell!