7 Dec 2023capital raising announcement● NeutralMajor
Closed the placement at an upsized $10.8 million across two tranches, priced at $0.125 a unit.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Dec 2023drilling result▲ Good
Found new high-grade gold occurrences in the Birch-Uchi belt around Springpole.
22 Nov 2023capital raising announcement● Neutral
Closed the first tranche of the upsized October placement.
26 Oct 2023resource reserve update● Neutral
Filed the technical report for the Duparquet economic assessment.
26 Oct 2023capital raising announcement▼ BadMajor
Announced a placement of up to 40,000,000 units at $0.125 for up to $5 million, with insiders including chairman Keith Neumeyer participating. The price is less than half the $0.27 of the June flow-through round four months earlier.
What it means for a shareholder
40.0m new shares at US$0.125 to raise about US$5.0m. That's 4.7% dilution: every existing holder's slice gets 4.7% smaller. If you held US$1,000 of shares (8,000 at the issue price), your slice goes from 0.000997% to 0.00095% of the company. To keep it you'd need 399 more shares - about US$50 at the issue price.
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7 Sept 2023resource reserve update▲ GoodMajor
Duparquet's first economic study under First Mining: a 15,000 tonne-a-day operation worth C$588 million after tax at a 5% discount with an 18.0% return, averaging 233,000 ounces of gold a year at all-in sustaining costs of US$976 an ounce over an eleven-year life. A preliminary assessment, so no reserves.
6 Sept 2023drilling result▲ GoodMajor
First drilling at Duparquet under First Mining defined a new gold zone with 6.52 g/t over 4.6 metres.
20 July 2023director officer appointment● Neutral
Reported encouraging Birch-Uchi targets alongside a management change.
6 July 2023drilling result▲ Good
The Saddle target in the Birch-Uchi belt returned 0.92 g/t gold over 114 metres and 0.75 g/t over 58 metres.
26 June 2023capital raising announcement● Neutral
Completed a $5 million flow-through placement of 18,518,519 units at $0.27, each with half a warrant.
What it means for a shareholder
18.5m new shares at US$0.270 to raise about US$5.0m. That's 2.3% dilution: every existing holder's slice gets 2.3% smaller. If you held US$1,000 of shares (3,704 at the issue price), your slice goes from 0.000462% to 0.000451% of the company. To keep it you'd need 85 more shares - about US$23 at the issue price.
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23 June 2023drilling progress report● Neutral
Identified new targets in the Birch-Uchi belt around Springpole.
20 June 2023regulatory community update● Neutral
Published its second annual environmental, social and governance report.
24 Apr 2023asset acquisition disposition▲ Good
Sold the non-core Eagle claims in Manitoba, picked up with the Duparquet transaction, to Grid Metals for C$300,000 cash, 250,000 Grid shares, a contingent C$350,000 and a 2% royalty.
20 Apr 2023drilling progress report● Neutral
Started the first exploration drilling program at Duparquet since acquiring it.
12 Apr 2023drilling result▲ Good
Completed development drilling at Springpole and identified a southwest extension zone that could add mineralisation beyond the current pit.
30 Mar 2023annual report● Neutral
Full-year 2022 results and operating highlights.
21 Feb 2023asset acquisition disposition▲ GoodMajor
Sold a 19-royalty portfolio spanning four countries to Elemental Altus for about C$6.7 million - C$4.7 million cash and 1,598,162 Elemental Altus shares. Another non-core disposal turning legacy paper into cash.
30 Jan 2023asset acquisition disposition● Neutral
Bought IAMGOLD's Porcupine East property next to Duparquet for 2.5 million First Mining shares plus other consideration, linking the Duparquet ground to the Pitt and Duquesne projects to the east.
17 Jan 2023drilling result▲ Good
District exploration around Springpole in the Birch-Uchi belt returned high-grade gold in rock sampling.
19 Dec 2022asset acquisition disposition▲ Good
Closed the C$9.5 million sale of the Goldlund royalty to Sprott.
12 Dec 2022asset acquisition disposition▲ GoodMajor
Agreed to sell its 1.5% royalty over Goldlund - the project sold to Treasury Metals in 2020 - to an affiliate of Sprott Resource Streaming for about C$9.5 million in cash. Selling a residual interest for money rather than issuing shares.
7 Oct 2022resource reserve update● Neutral
Filed the technical report for the updated Duparquet resource estimate.
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.
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23 June 2022regulatory community update● Neutral
Published its first annual environmental, social and governance report.