Firstgold Corp (fka FGOCQ)

[GreenOcean]

PACER document 177 Filed & Entered: 10/13/2010
Motion for Sale/Use/Lease of Property under Section 363(b)

Choice Points:

1) In addition to being sold FGOC can be reverse merged, or reinstated.

2) 60 companies have been contacted to bid on the mine, over 30 so far have stopped by to do due diligence.

2) The secured lenders have the right to bid and win if they don't like the bids that are coming in which allows them to put the mine up for sale again at a later time.

3) FGOC is being run by Eric Klepfer.

THE .20 PPS BID

1) Current O/S 196M. A restructuring like in the deal below would be OS 400M. *Note: The Chinese bid is an example of how companies are evaluating FGOC, this offer was rejected. DD shows that Royal Gold, INC is the best suited candidate to win the bid and finance FGOC.

2) In July 2009 a Chinese company offered FGOC $26.5M for a 51% stake in the company when gold was 900/oz. A 100% offer would have been $53M. This was knowing gold, FGOC's largest asset by far, & all of their liabilities. Gold is now 1374/oz. They made a great bid offer, but were rejected for security reasons by the U.S. government because FGOC is near a Navy base. Gold is now 53% higher than it was in July 2009. The $53M bid for 100% would now be about $81M. From this offer you can get a feel as to where FGOC could be as a market cap. An $81M cap would be PPS .20 with 400M O/S.

Read pages 25-29 to see the Chinese offer and how it would result in FGOC being restructured.

http://www.sec.gov/Archives/edgar/data/878808/000117120009001048/i00500_firstgold-10q.htm

3) A R/M would be like this:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55618842&txt2find=dura