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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 developer with three mines in development in Canada and one exploration property. They have approximately 11Moz. of gold in the reserves and resources category of which 8Moz. are in the measured and indicated category. They have a market capitalisation of ~C$362.71M which is a fall of roughly 0% over the last two weeks. As of 11/09/2025 they have no debt and ~C$24.82M cash. They have 1,281M shares outstanding and trade on the Toronto Stock Exchange and the over-the-counter markets.

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General Details

Financial 11/09/2025
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
MCap (FD): $362.80M $362.71M 11/09/2025 $-0.09M
MCap (OS): $286.17M $286.10M 11/09/2025 $-0.07M
Total Assets: $170.92M $170.87M 11/09/2025 $-0.04M
Total Liabilities: $19.15M $19.14M 11/09/2025 $0.00M
Current Assets: $24.82M $24.82M 11/09/2025 $-0.01M
Current Liabilities: $6.38M $6.38M 11/09/2025 $0.00M
Total Debt: $0.00M $0.00M 11/09/2025 $0.00M
Cash: $24.82M $24.82M 11/09/2025 $-0.01M
Debt (Net): $-24.82M $-24.82M $0.01M
Enterprise Value: $337.98M $337.89M 09/15/1980 $-0.09M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: Yes Yes 11/09/2025 n/a
Misc 11/09/2025
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 1,281,000,000 1,281,000,000 11/09/2025 0
Shares (FD): 1,624,000,000 1,624,000,000 11/09/2025 0
Insider Ownership: n/a n/a 11/09/2025 n/a
Dividend (Annual): n/a n/a 11/18/2025 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Developer Developer never n/a
Production ETA: n/a 01/01/2028 11/09/2025 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
11/09/2025 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
11/09/2025 0
Development Phase: Permitting Underway Permitting Underway 11/09/2025 n/a
Optionality Play: none No
F
U
T
U
R
E
% of Spot: 8
Developer: Location Risk for Production
8
Developer: Location Risk for Production
11/09/2025 0
Cash Flow Multiple: 4 3 11/18/2025 -1.00

Resource Data

GOLD 11/09/2025
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 4.00M 4.00M 11/09/2025 0.00M
Measured & Indicated: 8.00M 8.00M 11/09/2025 0.00M
Inferred: 3.00M 3.00M 11/09/2025 0.00M
Reserves & Resources: 11.00M 11.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 3.40M 3.40M 11/09/2025 0.00M
Measured & Indicated: 6.12M 6.12M 11/09/2025 0.00M
Inferred: 1.28M 1.28M 11/09/2025 0.00M
Reserves & Resources: 7.40M 7.40M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 11/09/2025 $0.00
Extra Operating Cost: n/a n/a 11/09/2025 $0.00
Total: $2,100 $2,100 11/09/2025 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AuEq): n/a n/a n/a
EV / Production (AuEq): n/a n/a n/a
G
R
A
D
E
Underground (Avg): n/a n/a 11/09/2025 n/a
Open Pit (Avg): n/a 1.30 g/t 11/09/2025 1.30 g/t
Recovery Rate: (CG)  85.00% (CG)  85.00% 11/18/2025 0.00%
F
U
T
U
R
E
Proven & Probable: 8.00M 8.00M 11/09/2025 0.00M
Annual Production: 500,000oz. 500,000oz. 11/18/2025 0oz.
Cash Cost: $1,300 $1,300 11/18/2025 $0
Extra Operating Cost: $800 $800 11/09/2025 $0
SILVER 11/09/2025
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 11/09/2025 0.00M
Measured & Indicated: n/a n/a 11/09/2025 0.00M
Inferred: n/a n/a 11/09/2025 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 11/09/2025 0.00M
Measured & Indicated: n/a n/a 11/09/2025 0.00M
Inferred: n/a n/a 11/09/2025 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 11/09/2025 $0.00
Extra Operating Cost: n/a n/a 11/09/2025 $0.00
Total: n/a n/a 11/09/2025 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): n/a n/a n/a
EV / Production (AgEq): n/a n/a n/a
G
R
A
D
E
Underground (Avg): n/a n/a 11/09/2025 n/a
Open Pit (Avg): n/a n/a 11/09/2025 n/a
Recovery Rate: n/a n/a 11/09/2025 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 11/09/2025 0.00M
Annual Production: n/a n/a 11/09/2025 n/a
Cash Cost: n/a n/a 11/09/2025 n/a
Extra Operating Cost: n/a n/a 11/09/2025 n/a

Property

Last Analysis Data  (11/09/2025)
Stage Name Owned
%
NPV
$M
IRR
%
CapEx
$M
Au Ag Cu Notes
Dev Duquesne, Duparquet, Pit
100 700.00 show
PEA in 2023

233K oz year at $975 AISC
$500M Capex
Dev Pickle Crow
30 show
High grade project in ideal location with low capex. They need a feasibility study and financing.

JV with Auteco

Size: 4,000 ha
Dev Springpole
100 720.00 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.

Size: 30,000 ha
Exp Cameron
100 show
1.2 million oz.
Current Data
Stage Name Owned
%
NPV
$M
IRR
%
CapEx
$M
Au Ag Cu Notes
Dev Duquesne, Duparquet, Pit
100 700.00 show
PEA in 2023

233K oz year at $975 AISC
$500M Capex
Dev Pickle Crow
30 show
High grade project in ideal location with low capex. They need a feasibility study and financing.

JV with Auteco

Size: 4,000 ha
Dev Springpole
100 720.00 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.

Size: 30,000 ha
Exp Cameron
100 show
1.2 million oz.

Profitability (by resource)

Proven &
Probable
11/09/2025
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 4.00M 4.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -8.76M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 3.40M 3.40M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -7.44M
Maximum Profit (Gold): $6,458.20M $6,635.44M n/a $177.24M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $6,458.20M $6,635.44M n/a $177.24M
Max Profit / Current MCap: 17.801 18.294 n/a 0.493
Max Profit Per Share (Gold): $3.98 $4.09 n/a $0.11
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.98 $4.09 n/a $0.11
Total Free Profit Per Share: $3.66 $3.77 n/a $0.11
FD MCap / Gold Eq.: $106.71 $106.68 n/a $-0.03
FD MCap / Silver Eq.: $1.28 $1.32 n/a $0.03
FD MCap / Per Metal
as % Spot Price:
2.67% 2.63% n/a -0.04%
EV / Gold Eq.: $99.40 $99.38 n/a $-0.03
EV / Silver Eq.: $1.19 $1.23 n/a $0.03
EV / Per Metal
as % Spot Price:
2.49% 2.45% n/a -0.03%
Measured &
Indicated
11/09/2025
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 8.00M 8.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -17.52M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 6.12M 6.12M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -13.40M
Maximum Profit (Gold): $11,624.76M $11,943.79M n/a $319.04M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $11,624.76M $11,943.79M n/a $319.04M
Max Profit / Current MCap: 32.042 32.930 n/a 0.888
Max Profit Per Share (Gold): $7.16 $7.35 n/a $0.20
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $7.16 $7.35 n/a $0.20
Total Free Profit Per Share: $6.84 $7.04 n/a $0.20
FD MCap / Gold Eq.: $59.28 $59.27 n/a $-0.02
FD MCap / Silver Eq.: $0.71 $0.73 n/a $0.02
FD MCap / Per Metal
as % Spot Price:
1.48% 1.46% n/a -0.02%
EV / Gold Eq.: $55.22 $55.21 n/a $-0.01
EV / Silver Eq.: $0.66 $0.68 n/a $0.02
EV / Per Metal
as % Spot Price:
1.38% 1.36% n/a -0.02%

Reserves &
Resources
11/09/2025
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 11.00M 11.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -24.09M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 7.40M 7.40M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -16.19M
Maximum Profit (Gold): $14,046.58M $14,432.08M n/a $385.50M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $14,046.58M $14,432.08M n/a $385.50M
Max Profit / Current MCap: 38.717 39.790 n/a 1.073
Max Profit Per Share (Gold): $8.65 $8.89 n/a $0.24
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $8.65 $8.89 n/a $0.24
Total Free Profit Per Share: $8.33 $8.57 n/a $0.24
FD MCap / Gold Eq.: $49.06 $49.05 n/a $-0.01
FD MCap / Silver Eq.: $0.59 $0.60 n/a $0.02
FD MCap / Per Metal
as % Spot Price:
1.23% 1.21% n/a -0.02%
EV / Gold Eq.: $45.70 $45.69 n/a $-0.01
EV / Silver Eq.: $0.55 $0.56 n/a $0.01
EV / Per Metal
as % Spot Price:
1.14% 1.13% n/a -0.01%

Future Valuation (Cash Flow & Totals)

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