Agree, that was a waste of time with what amounted to a repeat of the presentation Cooke gave recently. While this is usually a great forum for Dan to discuss things, today I feel like he dropped the ball. It is great that Auteco has made some great progress and it is great that the resource is likely to grow much larger, but again it feels like maybe FF shareholders did not get the best end of this deal. So we have 100 million shares....they could easily dilute more in the future, which would erode our value. Or Auteco could do a share consolidation and then dilute more which would REALLY erode our value.
They did answer my question (about the existing 225 tpd mill). I thought they answered one or your questions too, but not more than that.
The big takeaway I got from today is that Auteco is going to do a lot more work, but that the Pickle Crow production story is still years away.
On the brighter side, we have the jokers Powell and Yellen on our side (regardless if you are Canadian, American, Australian, German or otherwise European), who through their policies all but guarantee a higher gold price. The timelines for Goliath/Goldlund and Springpole still look very attractive.
Below are the questions I sent to the company on March 24th:
Questions for the webinar next week:
1. Has First Mining considered a distribution of their Auteco shares to First Mining shareholders in the same manner the Treasury Metals shares will be distributed?
2. The existing 225tpd Pickle Crow mill - how long would it take to get it operational and approximately how much would it cost? What kind(s) of approvals are required?
3. How hard is it to get an existing mine (i.e. - Pickle Crow, Central Patricia, Dona Lake, etc.) that was previously abandoned approved and operating again? Is there an existing mine plan? How long would it take to update an existing mine plan or develop a new one? How long would it take to get approvals to mill the ore? What are other timelines involved? What are the potential problems/issues?
4. Are there any potential partners in the area that you (or Auteco if they now have controlling interest) would consider entering into a 3-way with (ok, I know, funny) on the Pickle Crow project to provide funding?
5. Has a distribution date been set for the Treasury Metals shares?
