First Mining Gold Corp (FFMGF)

[Implanting]

Treasury is selling (diluting) 7M shares to raise the $6M in cash for the exploration. Remember Treasury already did a stock consolidation when they bought Goldlund from FMG, so this move won't be too frowned upon. Treasury's future is based on drilling and finding more gold, as is Auteco and Big Ridge. FMG's future is based on permitting Springpole.

I assume this offering means Treasury has no intentions of doing any JV deals anytime soon to help fund their exploration programs, which is what I was hoping might happen.

It's been broadly held that FMG shareholders don't want to see more share dilution, so raising cash from more share dilution I think would be met with criticism. IMO we're going to see more share dilution from the optionality plays they've done around Springpole in the future.