First Mining Gold Corp (FFMGF)

[TommyJ7651]

Thanks man! I will give my opinions on your questions and include an article further below as source. Probably going to be a longer post.

Regarding the "road issue". It is quite clear to me from all the information I have gathered over the years that Cat Lake have been wishing for a permanent road for quite a while and built up quite a bit of frustration with the government. Some quotes from the article referenced in the end shines some more light on this issue:

"Wesley said he has asked Indigenous Services Canada for $93 million to build a 90-kilometre permanent road to Cat Lake First Nation, which he said will cost $117 million overall, according to studies he had conducted for the community. Wesley said he was told by the Ottawa and Ontario governments that no capital exists for the road."

"Wesley said his community wants a permanent road. “They say we need a road for our youth in the future, and we also need that road because we have a land use plan that’s legislated under the Far North Act,” he said, adding these plans involve development in forestry and biomass diversity for the area."

We can probably assume here that any permanent road built to reach Cat Lake is a 100 million+ project for sure. If it is to be built, it needs to be partly funded by government and First Mining Gold. I am quite sure that nothing will happen from the Government's side unless Springpole gets developed into a mine. I would think the Chief is very well aware of this but wants to get some kind of guarantees from the government that a permanent road will actually be built if they get on board. This is where I think both Dan & Steve come very well into play. This really is a potential win / win / win situation if they can get a community agreement in place. Cat Lake must be aware of the fact that in order for their future generations to prosper they need new roads, infrastructure, and jobs into the region. The warm winters make it more and more difficult to get supplies and food to their community because the ice roads are only open for a few weeks each year. This is not sustainable in the long run. A new permanent road is a must for this community's future and I really understand the Chief's frustration about this, but the fact of the matter is that nothing can get built without money. This is where Springpole comes into play. You get that mine up and running, and the amount of wealth it could bring to this community is spectacular. I'm not just talking about new roads, powerlines and jobs but actually getting schools, hospitals, water infrastructure etc. Go look at what First Majestic Silver built in Mexico and you get an idea of how much wealth a single mine can bring to a region. They built entire towns from nothing with poor Mexican kids getting schools and computer equipment, new housing, water pipes, along with all kinds of economic development. This is what Keith said he would like to see also happen in Northern Ontario and this is also what I would like to see as an investor. It really would be the best outcome if everyone wins here. So to answer your question from purely a technical & judicial viewpoint, yes this mine will get permitted and built with or without Cat Lake. I know the government mostly cares about the tax revenues this project generates so they will approve this mine in the end no matter what, but I would still like to get a situation where everyone wins.

Regarding your question about the Final EA submission. Again this is just my opinion, but my understanding is that it is a very "back and forth" process in the way First Mining is doing it. They submitted the draft, got all of the questions from the government, answered them all, and now they want to make sure the final version really has everything included for the approval. Also, they are consulting with Cat Lake all the time and have received feedback and questions about their concerns as well which will be included in the final EA submission. They are being very thorough here and that is something investors must understand is for the benefit of us all. This is a process where you don't "mess around" so to speak. You do it properly all the way to the end. This is why it has been hard for Dan to give any final timeline on the process because, as I said, it is still ongoing and they want to make sure everything is in place before the final submission. But it will be done before the end of summer, that's for sure. And when that happens, you can be pretty much sure the approval will be given because it's just a formal process after that where they "check the boxes" so to speak. Cat Lake is doing its own "EA process" as well (funded by First Mining) and that will be completed somewhere around spring 2025. It would be fantastic if they get that done and give their consent before Springpole receives its final EA approval from the government. But this is not part of the "official" process. In the end, the government decides what gets built.

I understand very well (as a rather large shareholder) the frustration investors have experienced with this stock, but there really is no shortcuts here. When you invest in this stock what you really are investing in right now is the ability of Keith, Dan, Steve (and the rest of the team) to make this vision happen for us all. The assets this company sits on are fantastic, but in the end the people are what matters. Keith's track record in this business is phenomenal and I sincerely believe he really does want to create wealth not only for shareholders but the entire communities around Springpole. Both Dan & Steve seem to be very decent and goodhearted people and that is what you want in a situation like this. First Mining Gold and Cat Lake are on good terms and I really don't see any kind of hostility with the two. I have a strong belief in that First Mining and Cat Lake will be able to get a community agreement in place where they permit development on their lands and in return get guarantees from FM and the government for a permanent road to be built and maybe some other profit sharing mechanism. Unless they can be helpful, the government basically needs to stay away from this until the two can come to an agreement. If this gets up and running, the amount of money it will generate is insane and that will solve all future problems and concerns Cat Lake might have as well as giving them a fantastic opportunity to prosper economically.

My whole thesis with my big investment in First Mining Gold really comes down to this vision where everyone wins and both Springpole and Duparquet get developed into big mines that will shower wealth on these regions like nothing has before. All the stars are aligning here for a massive win for us all.

https://www.indigenouswatchdog.org/update/these-ontarians-rely-on-roads-made-of-snow-and-ice-but-what-happens-when-winter-is-too-warm/