7 Oct 2022resource reserve update● Neutral
Filed the technical report for the updated Duparquet resource estimate.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Sept 2022business combination▲ GoodMajor
Closed the acquisition of the Beattie Gold Mines shares it did not already own, along with two related companies, giving First Mining control of the multi-million ounce Duparquet project in Quebec.
13 Sept 2022joint venture update▲ Good
Big Ridge completed stage one of its earn-in at Hope Brook, matching the pattern Auteco set at Pickle Crow.
12 Sept 2022resource reserve update▲ GoodMajor
Updated resource for Duparquet: 69.0 million tonnes measured and indicated at 1.55 g/t for about 3.43 million ounces of gold, with roughly 1.6 million more inferred, drawn from a database of 904 holes and 270,119 metres. A multi-million ounce project acquired rather than discovered.
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.
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.
Create a free account to see this worked out for your own holding.
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.
30 Sept 2021securities registration● Neutral
Made the base shelf prospectus and F-10 registration final.
9 Sept 2021asset acquisition disposition● Neutral
Consolidated more of the Birch-Uchi greenstone belt around Springpole.
7 Sept 2021securities registration● Neutral
Filed a preliminary base shelf prospectus and registration statement, refreshing the standing ability to issue securities.
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.