First Mining Gold Corp T.FF

Big Ridge Gold Announces Amendment To Hope Brook Agreement

[masah88919]

Some cool news from First Mining's holding in Big Ridge Gold:

2024 News |Big Ridge Gold Corp.

[Macclyde12]

Certainly good news for Hopebrook, but are shares better than cash at this stage for FF?  Do I have that wrong?

[Macclyde12]

Whatever the plus is for Big Ridge, (I referred the company as Hopebrook), the huge volume today so far for First Mining is great to see, so it must be great for us too. I need to know more as it all plays out in the way it helps, (or hurts), us as to future dillutive avoidance.

[masah88919]

I think it's good for both companies. Big Ridge spent about 6m on exploration and got 420k more ounces to show for it which is very nice. I dont think First Mining or Big Ridge for that matter would have benefited that much more from an additional 3m of drilling. They can now agree on the final earn in to 80/20 and First Mining gets 10m shares which will bring the total ownership to 36,5

[masah88919]

Also, keep in mind First Mining retains 20% interest in the project (free carried) and also the royalty on the project. If Big Ridge decides to sell the asset or becomes acquired (its very cheap right now) then First Mining will get 20% from the acquisition price as well. I think all in all this was a good outcome.

[Macclyde12]

All that was already in play. I may be wrong, but it seems Big Ridge avoided a cash payment to FF by issuing shares. FF needs cash for their permitting runway. Of course more shares of Big Ridge will be fine, especially with a price spike down the road, but FF is in need of cash in '24, and '25, with more dilution not that far away. Everybody knows it's a race for nearly all of the