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First Mining Gold

www: firstmininggold.com   email: info@firstmininggold.com
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
TSE:FF CAD
OTCMKTS:FFMGF USD

Description

First Mining Gold are a gold focused junior, late stage development company with three mines in development in Canada and exploration properties. They have approximately 12Moz. of gold in the reserves and resources category of which 9Moz. are in the measured and indicated category. They have a market capitalisation of ~C$120.22M which is a fall of roughly 14% over the last seven months. As of 11/09/2022 they have no debt and ~C$4.84M cash. They have 801M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 11/09/2022
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $139.83M $120.22M 11/09/2022
Total Assets: $178.90M $179.44M 11/09/2022
Total Liabilities: $20.04M $20.10M 11/09/2022
Current Assets: $11.88M $11.91M 11/09/2022
Current Liabilities: $6.68M $6.70M 11/09/2022
Total Debt: $0.00M $0.00M 11/09/2022
Cash: $4.83M $4.84M 11/09/2022
Enterprise Value: $135.01M $115.38M 08/28/1973
Cash Flow: $0.00M $0.00M never
Cash Flow Multiple: 0.00 0.00 never
Net Debt to
Cash Flow Ratio:		 n/a n/a never
Finance within 1 year: Yes Yes 11/09/2022
Misc 11/09/2022
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 801,000,000 801,000,000 11/09/2022
Shares (FD): 897,000,000 897,000,000 11/09/2022
Insider Ownership: n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a 01/01/2028 11/09/2022
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 11/09/2022
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 11/09/2022
Initial CapEx (Outstanding): $720.00M
514.9% of MCap		 $720.00M
598.9% of MCap 		11/09/2022
Funding Option: n/a n/a 11/09/2022
Documentation: none PEA 04/18/2023
Future MCap Modifier: 0.08
Developer: Location Risk for Production
 0.08
Developer: Location Risk for Production
 04/24/2023
Cash Flow Multiplier: 5 3 04/18/2023

Resource Data

GOLD 11/09/2022
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 4.00M 4.00M 11/09/2022
Measured & Indicated: 9.00M 9.00M 11/09/2022
Inferred: 3.00M 3.00M 11/09/2022
Reserves & Resources: 12.00M 12.00M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 3.40M 3.40M 11/09/2022
Measured & Indicated: 6.80M 6.80M 11/09/2022
Inferred: 1.28M 1.28M 11/09/2022
Reserves & Resources: 8.08M 8.08M never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 11/09/2022
Extra Operating Cost: n/a n/a 11/09/2022
Average Grade: 1.30 g/t 1.30 g/t 11/09/2022
Recovery Rate: (CG)  85.00% (CG)  85.00% 04/18/2023
F
U
T
U
R
E		 Proven & Probable: 9.00M 9.00M 11/09/2022
Annual Production: 500,000oz. 500,000oz. 11/09/2022
Cash Cost: $900 $1,100 04/18/2023
Extra Operating Cost: $500 $500 11/09/2022
SILVER 11/09/2022
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 11/09/2022
Measured & Indicated: n/a n/a 11/09/2022
Inferred: n/a n/a 11/09/2022
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 11/09/2022
Measured & Indicated: n/a n/a 11/09/2022
Inferred: n/a n/a 11/09/2022
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 11/09/2022
Extra Operating Cost: n/a n/a 11/09/2022
Average Grade: n/a n/a 11/09/2022
Recovery Rate: n/a n/a 11/09/2022
F
U
T
U
R
E		 Proven & Probable: n/a n/a 11/09/2022
Annual Production: n/a n/a 11/09/2022
Cash Cost: n/a n/a 11/09/2022
Extra Operating Cost: n/a n/a 11/09/2022

Property

Last Analysis Data  (11/09/2022)
Stage Name Owned Au Ag Cu Notes
Exp Bougou I 100% n/a
Exp Liki 100% n/a
Exp Midebdo 100% n/a
Exp Nakoambouri and Gonaba-Est 0% n/a
Exp Ouaraba 100% n/a
Exp Ouavousse 100% n/a
Exp Rima 100% n/a
Exp Salbo 100% n/a
Dev Hope Brook 20% show
PEA coming out in 2014.

1.3 million oz deposit at 2 gpt. Mostly open pit.

Incredibly cheap. About $2 per oz.

JV with Big Ridge
Dev Pickle Crow 20% show
High grade project in ideal location with low capex. They need a feasibility study and financing.

JV with Auteco
Dev Springpole 100% show
5 million oz gold deposit (1 gpt)
25 million oz silver deposit (4 gpt)

PEA in 2013 for 215,000 oz gold, plus 1.2 million oz silver.

Capex $438 million.

Gold Equivalent cash-costs at $650.

IRR of 25% pretax at $1300 gold.
Exp Cameron 100% show
1.2 million oz.
Exp Cat Lake 100% n/a
Exp Duquesne, Duparquet, Pit 100% show
Early exploration.

400,000 oz at 4 gpt.
Exp Favourable Lake 40% n/a
Exp Goldlund 100% show
2.2 million oz.
Exp Horseshoe Island 100% n/a
Exp Mexico 100% show
17 projects in Mexico.
Exp Cordero 100% n/a
Exp Kratz Spring 100% n/a
Total Land Package Size (ha): 138,300  
Current Data
Stage Name Owned Au Ag Cu Notes
Exp Bougou I 100% n/a
Exp Liki 100% n/a
Exp Midebdo 100% n/a
Exp Nakoambouri and Gonaba-Est 0% n/a
Exp Ouaraba 100% n/a
Exp Ouavousse 100% n/a
Exp Rima 100% n/a
Exp Salbo 100% n/a
Dev Hope Brook 20% show
PEA coming out in 2014.

1.3 million oz deposit at 2 gpt. Mostly open pit.

Incredibly cheap. About $2 per oz.

JV with Big Ridge
Dev Pickle Crow 20% show
High grade project in ideal location with low capex. They need a feasibility study and financing.

JV with Auteco
Dev Springpole 100% show
5 million oz gold deposit (1 gpt)
25 million oz silver deposit (4 gpt)

PEA in 2013 for 215,000 oz gold, plus 1.2 million oz silver.

Capex $438 million.

Gold Equivalent cash-costs at $650.

IRR of 25% pretax at $1300 gold.
Exp Cameron 100% show
1.2 million oz.
Exp Cat Lake 100% n/a
Exp Duquesne, Duparquet, Pit 100% show
Early exploration.

400,000 oz at 4 gpt.
Exp Favourable Lake 40% n/a
Exp Goldlund 100% show
2.2 million oz.
Exp Horseshoe Island 100% n/a
Exp Mexico 100% show
17 projects in Mexico.
Exp Cordero 100% n/a
Exp Kratz Spring 100% n/a
Total Land Package Size (ha): 138,300  

Profitability (by resource)

Proven &
Probable		 11/09/2022
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 4.00M 4.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.40M 3.40M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,038.70M $1,180.82M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,038.70M $1,180.82M n/a
Max Profit / Current MCap: 7.428 9.822 n/a
Max Profit Per Share (Gold): $1.16 $1.32 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.16 $1.32 n/a
Total Free Profit Per Share: $0.95 $1.14 n/a
FD MCap / Gold Eq.: $41.13 $35.36 n/a
FD MCap / Silver Eq.: $0.51 $0.43 n/a
FD MCap / Per Metal
as % Spot Price:		 2.41% 1.82% n/a
Measured &
Indicated		 11/09/2022
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 9.00M 9.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 6.80M 6.80M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $2,077.40M $2,361.64M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $2,077.40M $2,361.64M n/a
Max Profit / Current MCap: 14.856 19.644 n/a
Max Profit Per Share (Gold): $2.32 $2.63 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.32 $2.63 n/a
Total Free Profit Per Share: $2.11 $2.45 n/a
FD MCap / Gold Eq.: $20.56 $17.68 n/a
FD MCap / Silver Eq.: $0.25 $0.21 n/a
FD MCap / Per Metal
as % Spot Price:		 1.21% 0.91% n/a

Reserves &
Resources		 11/09/2022
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 12.00M 12.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 8.08M 8.08M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $2,466.91M $2,804.45M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $2,466.91M $2,804.45M n/a
Max Profit / Current MCap: 17.642 23.328 n/a
Max Profit Per Share (Gold): $2.75 $3.13 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.75 $3.13 n/a
Total Free Profit Per Share: $2.54 $2.95 n/a
FD MCap / Gold Eq.: $17.32 $14.89 n/a
FD MCap / Silver Eq.: $0.21 $0.18 n/a
FD MCap / Per Metal
as % Spot Price:		 1.02% 0.76% n/a

Future Valuation (Cash Flow & Totals)

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