2 Sept 2022capital raising announcement● Neutral
Closed the final tranche of the flow-through placement at $0.30 a share, taking it to an upsized $5.3 million.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Aug 2022business combination● Neutral
Further update on the Duparquet acquisition as the offer for the Beattie shares progressed.
17 Aug 2022business combination● Neutral
Update on the offer to acquire the rest of Beattie Gold Mines and with it the Duparquet project.
9 Aug 2022capital raising announcement● Neutral
Announced a $5 million flow-through placement of 16,500,000 shares at $0.30.
What it means for a shareholder
16.5m new shares at US$0.300 to raise about US$5.0m. That's 2.0% dilution: every existing holder's slice gets 2.0% smaller. If you held US$1,000 of shares (3,333 at the issue price), your slice goes from 0.000416% to 0.000407% of the company. To keep it you'd need 69 more shares - about US$21 at the issue price.
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23 June 2022regulatory community update● Neutral
Published its first annual environmental, social and governance report.
8 Feb 2022business combination● NeutralMajor
Bought 286,904 shares of Beattie Gold Mines, the private company holding much of the ground of the Duparquet gold project in Quebec, paying C$4.44 cash and 26.62 First Mining shares per Beattie share. The opening move on what becomes First Mining's Quebec asset.
13 Jan 2022director officer appointment● Neutral
Update on Springpole technical programs alongside a senior management change.
9 Nov 2021regulatory community update▲ GoodMajor
Ontario's environment ministry approved the Terms of Reference for Springpole's provincial environmental assessment, which the company says formally starts that process and lets it be coordinated with the federal one. This resolves the Terms of Reference submitted in August 2020; the assessment itself is still ahead.
4 Oct 2021joint venture update● Neutral
Agreed to earn up to 80% of Pelangio Exploration's Birch Lake properties near Springpole over two stages and six years, through subsidiary Gold Canyon Resources - this time First Mining is the one earning in rather than being earned into.
9 Sept 2021asset acquisition disposition● Neutral
Consolidated more of the Birch-Uchi greenstone belt around Springpole.
30 Aug 2021joint venture update▲ GoodMajor
Auteco completed stage two at Pickle Crow, having spent $5 million on exploration and paid First Mining $1 million in cash, and granted First Mining a 2% net smelter royalty.
5 Aug 2021regulatory community update● Neutral
Further operational update on Springpole.
28 July 2021drilling result▲ Good
Full drill results table for Auteco's 2020 and 2021 campaigns at Pickle Crow, the project First Mining no longer operates but retains an interest in.
28 July 2021regulatory community update▲ GoodMajor
First Mining signed a Mineral Exploration Agreement with Animakee Wa Zhing #37 First Nation covering its planned activities at the Cameron Gold Project. It sets out a framework for engagement and supports a planned 4,000-metre, 36-hole drill program.
15 July 2021business combination● Neutral
Confirmed the final ratios for distributing the Treasury Metals shares and warrants to First Mining shareholders.
7 July 2021business combination▲ GoodMajor
The British Columbia court approved the arrangement letting First Mining hand 23,333,333 Treasury Metals shares and 11,666,666 warrants straight to its own shareholders, by reducing its capital. Shareholders keep the Goldlund exposure directly rather than through First Mining's balance sheet.
6 July 2021regulatory community update● Neutral
Operational update on Springpole as permitting and technical work continued.
24 June 2021other material event▼ Bad
Publicly disowned recent third-party promotional activity about its shares, saying the company had no involvement in it.
10 June 2021joint venture update▲ GoodMajor
Auteco completed Stage 1 of its Pickle Crow earn-in, issuing 100,000,000 Auteco shares to First Mining and taking a 51% interest in PC Gold. First Mining then held 125 million Auteco shares, worth about $10.5 million.
8 June 2021joint venture update▲ Good
The Big Ridge Gold earn-in over Hope Brook closed after TSX Venture approval, and Big Ridge began spending.
29 Apr 2021asset acquisition disposition● Neutral
Optioned additional ground next to Springpole, beginning a consolidation of the surrounding Birch-Uchi greenstone belt.
6 Apr 2021joint venture update▲ Good
Brought in a partner to fund the Hope Brook gold project in Newfoundland, the same earn-in structure used for Pickle Crow with Auteco.
5 Mar 2021resource reserve update● Neutral
Filed the technical report behind the January prefeasibility study for Springpole, with the same headline figures.
21 Jan 2021resource reserve update▲ GoodMajor
Springpole's first prefeasibility study showed a 30,000 tonne-a-day open pit with US$995 million after-tax NPV at 5% and a 29% IRR, averaging 335,000 ounces of gold a year at AISC of US$577 an ounce in years one to nine. It also declared the project's first mineral reserves, 3.8 million ounces of gold.
9 Dec 2020asset acquisition disposition● Neutral
Completed the East Cedartree purchase from Metalore, consolidating the land position at Cameron.
3 Dec 2020asset acquisition disposition● Neutral
Agreed to buy the East Cedartree claims from Metalore Resources for $3 million cash and 3 million First Mining shares, filling a gap in the ground around the Cameron gold project near Kenora.
29 Sept 2020drilling result▲ Good
First drill results reported from Pickle Crow under the Auteco earn-in.
15 Sept 2020regulatory community update▲ Good
First Mining said its Springpole prefeasibility study is on schedule for the first half of Q1 2021, with trade-off studies nearly done and a mine plan optimisation under review that points to an improvement on the 2019 plan. It submitted the provincial Terms of Reference on August 21, 2020, started a 6,300 m condemnation drill program, and plans a 4-6 hole program at Satterly Lake; this continues the Springpole work and permitting that carried on through the shutdown.
4 Sept 2020drilling progress report▲ Good
Auteco expanded its drill program at Pickle Crow.
4 Aug 2020drilling result▲ Good
A one-metre intercept of 173.8 g/t gold at Goldlund, from the 2019-2020 program.