RE:Notes from my Zoom call with DanJust wanted to add a summary of potential near term catalysts emphasized by Dan and some final thoughts about the company's future.
1) Getting a community agreement in place with Cat Lake.
2) Doing more drilling work and potentially growing the Duparquet resource base by 2-4m ounces, creating a massive 8-10m ounce deposit with excellent infrastructure in place.
3) Providing a technical understanding of how the Duparquet project could potentially be a near term starter pit operation with very little upfront capital costs. This is the BIG ONE people are missing in my opinion because it could mean First Mining has the potential to start a cash flow positive operation in the near term. (1-3 years) and become an actual mining company even before the Springpole asset is constructed.
4) Submission of the Final EA.
People who are willing to invest in this stock need to be thinking long term here. Put yourself in Keith's shoes. The man has started two billion dollar companies from basically scratch. He has stated many times this is going to be his third. What would he like to see here really if it were up to him? I don't think the man has any interest in selling this company unless they basically get a very good deal (over a billion dollars). Keith stated his goal is to get up to 50m shares, he currently has 30m. Dan stated Keith is in the market every month buying more. Obviously this dude is not someone who is thinking small, so investors really need to be asking themselves where this can go long term.
My own thinking is that Keith wants this company developed into a miner who operates both Springpole and Duparquet with majority ownership of the assets. Could be done as JVs for sure, but I think Keith likes to keep as much control as he can. If they can get Duparquet going as a starter pit and grow from there then there is massive potential here to grow into a major mining company once the permits are in place for Springpole. I am really banking myself on long term gains here. I will definitely be dissapointed if this company gets taken over for say 400-600m. I really want this to become a mining company with two fantastic assets in production. Both assets - when in production - would be absolute cash flow monsters when you look at the AISC, which is less than 1k per ounce.
Eventually I believe Keith intends to merge both First Majestic Silver and First Mining Gold and create a major North-American miner that controls its own mint and sells most of its gold as physical metal to investors. That is what I would do in Keith's shoes because it enables the company to capture the premiums paid for physical metals and remove itself from the "paper pricing mechanism" of gold an silver.