15 July 2025capital raising announcement● NeutralMajor
Upsized the public offering to $12 million as part of a combined raise of up to $27 million, through Haywood Securities and a syndicate.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 July 2025drilling result▲ GoodMajor
Discovered another new zone at Duparquet, Minuit, positioned for immediate expansion drilling.
7 July 2025regulatory community update▲ GoodMajor
Signed a long-term relationship agreement with the Mishkeegogamang First Nation covering development of Springpole.
7 July 2025asset acquisition disposition▲ GoodMajor
Agreed to sell its remaining 20% of the Hope Brook project to Big Ridge Gold for C$3 million cash and 7 million Big Ridge shares, letting the earn-in partner consolidate the asset. Another project exited rather than built.
28 May 2025drilling result▲ Good
More near-surface drilling strengthened the Miroir discovery at Duparquet and extended the Valentre zone at depth.
28 Apr 2025drilling progress report● Neutral
Added a second rig at Duparquet and gave a corporate update.
31 Mar 2025material agreement▲ GoodMajor
Received the final US$5 million from First Majestic, completing the US$22.5 million silver stream signed in June 2020 - five years of non-dilutive funding for Springpole now fully drawn.
31 Mar 2025annual report● Neutral
Full-year 2024 results and operating highlights.
14 Mar 2025material agreement▲ GoodMajor
Agreed with First Majestic to pull forward the final payment under the 2020 Springpole silver stream and to amend the terms of warrants held by First Majestic - cash sooner, in exchange for changing an instrument held by the company its chairman founded.
5 Mar 2025drilling progress report● Neutral
Mobilised the first rig of the 2025 Duparquet exploration program.
12 Feb 2025drilling result▲ Good
Confirmed mineralisation that could be added inside the existing Springpole pit design at the East Extension target.
21 Jan 2025drilling result▲ GoodMajor
Two new gold discoveries at Duparquet, led by the Miroir discovery at 3.12 g/t gold over 19.35 metres - the expansion drilling is finding new zones rather than just infilling the acquired resource.
3 Dec 2024regulatory community update▲ GoodMajor
Canada's Impact Assessment Agency gave a positive conformity determination on the Springpole final environmental impact statement, within 30 days of its November 4, 2024 submission, so the technical review phase proceeds. The company still expects the process to conclude in Q4 2025; this is a procedural step, not project approval.
21 Nov 2024drilling result▲ Good
Duparquet's Buzz Zone returned 1.55 g/t gold over 15.4 metres as expansion targets were defined around the existing resource.
19 Nov 2024drilling result▲ Good
Springpole hole SP24-007 pointed to an eastern extension that could add resources next to the planned pit.
13 Nov 2024regulatory community update▲ Good
An independent geotechnical and tailings review board gave a positive initial review of the Springpole project design.
8 Nov 2024regulatory community update▲ GoodMajor
First Mining submitted the final environmental impact statement for Springpole on November 4-5, 2024, following the draft filed in May 2022. Next come a federal conformity review and a public comment period expected to close in Q1 2025, with the whole process expected to conclude in Q4 2025 (company expectation, not a decision).
1 Nov 2024regulatory community update▲ GoodMajor
Signed a process agreement with Cat Lake First Nation and Lac Seul First Nation supporting an Anishinaabe-led impact assessment of Springpole - the communities run their own assessment process rather than only responding to the company's.
11 Oct 2024capital raising announcement▼ BadMajor
Followed the bought deal two weeks later with an upsized $7.4 million private placement of 54,463,706 units at the same $0.135, adding another 54 million shares.
1 Oct 2024capital raising announcement▼ BadMajor
Closed a C$8.05 million bought deal of 59,629,800 units at $0.135 including the full over-allotment - nearly 60 million new shares, at a price close to the $0.125 of the December 2023 round and half the $0.27 the June 2023 flow-through fetched.
What it means for a shareholder
59.6m new shares at US$0.135 to raise about US$8.1m. That's 5.2% dilution: every existing holder's slice gets 5.2% smaller. If you held US$1,000 of shares (7,407 at the issue price), your slice goes from 0.000686% to 0.00065% of the company. To keep it you'd need 409 more shares - about US$55 at the issue price.
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9 Sept 2024drilling result▲ Good
Expanded the high-grade gold discovery in the Birch-Uchi belt near Springpole.
28 Aug 2024drilling result▲ Good
Drilling at Duparquet's Valentre target returned 3.98 g/t gold over 8.7 metres and a second rig was added.
27 June 2024regulatory community update● Neutral
Published its third annual environmental, social and governance report.
20 June 2024capital raising announcement● Neutral
Material change report covering the upsized $7 million flow-through placement closed in June 2024.
20 June 2024regulatory community update● Neutral
Further update on the temporary winter road serving Springpole exploration.
18 June 2024drilling result▲ GoodMajor
Duparquet hole DUP24-024 returned several gold zones - 10.67 g/t over 5.3 m, 6.63 g/t over 9.0 m, 3.04 g/t over 33.5 m and 5.97 g/t over 33.0 m - in mafic volcanic units that had never been modelled at Duparquet, so the acquired resource model was missing rock that carries gold.
17 June 2024capital raising announcement● Neutral
Upsized and closed the flow-through placement at about $7 million.
28 May 2024capital raising announcement● Neutral
Announced a flow-through placement of up to $5 million, up to 24,242,424 shares.
What it means for a shareholder
24.2m new shares at about US$0.2063 to raise about US$5.0m. That's 2.2% dilution: every existing holder's slice gets 2.2% smaller. If you held US$1,000 of shares (4,848 at the issue price), your slice goes from 0.000449% to 0.000439% of the company. To keep it you'd need 109 more shares - about US$22 at the issue price.
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21 May 2024drilling result▲ Good
First 2024 Duparquet results, including the first drilling ever aimed at the North Zone.
7 May 2024substantial holder notice● Neutral
Early-warning disclosure of a disposition of Treasury Metals shares - selling down the stake taken when Goldlund was sold in 2020.