I asked a lot of questions that got answered and other people asked some very good questions. IMO Dan spends too much time talking about each question. I believe most of the questions he answered could have been answered in about 1/3 less time. He tends to drag out his answers and of course that takes more of the allotted time given.
I am thankful he did this end of year webinar to bring everyone up to speed. I asked about how much cash we would have after getting the Sprott money for the Goldlund royalties. He said $13 or $14M after all is said and done. I'm thinking that depending on how much money they plan spending for exploration this year that most likely we'll have to sell something else before year end 2023. The biggest thing we have to sell would be the Pickle Crow royalty, but I hope they choose to hold onto that if possible. Problem is the other royalty assets aren't probably going to bring a lot and there may not even be anyone interested in buying them now.
Regarding the Duparquet starter pit question I was hoping he would be able to put a timeline on when it could happen and unfortunately he didn't. The way he talked doing a starter pit is something they would have to look into doing, more researching to be done, so he gave no timeline. He brought it up, IMO he should have had more specifics on what he was talking about. I thought when he brought up the starter pit subject that maybe it could be a revenue source for us when we need the money. Sooner rather than later.
IMO acquiring Duparquet has put FMG in a more tenuous cash position. That's clear, but I think with what Duparquet has added to our portfolio it had to be done. Management continues to juggle a lot of balls, but it should pay off in the long run. I asked Dan about how any talks or negotiations were going on currently and he said yes, there always are, but I don't see anything being finalized before Springpole has it's permitting. He didn't say it, but it was implied.
Did you remember hearing him say that with Springpole and Duparquet FMG has two of the top 15 largest gold properties in Canada? Throw in all our other side holdings and FMG would seem to be an attractive target for someone.
