Post by
BebeRebozo on Aug 05, 2020 2:31pm
Shares of First Mining
As per their latest financial statements:
MARKETABLE SECURITIES At April 30, 2020, the Company’s marketable securities consisted of 2,435,000 First Mining shares (the “FM Shares”), valued at $547,875 (July 31, 2019 - 3,235,000 shares valued at $873,450) based on the closing price of FM Shares on April 30, 2020, being $0.225 (July 31, 2019 - $0.27). The Company records its marketable securities as fair value through profit and loss (“FVTPL”). During the nine-month period ended April 30, 2020, the Company recorded a loss of $138,575 on revaluation of its securities to their fair market value (April 30, 2019 - $627,450). During the nine-month period ended April 30, 2020, the Company sold 800,000 FM Shares (April 30, 2019 –763,000 FM Shares) for total cash proceeds of $178,170 .
Those shares of FM have more than doubled in value since April, and now are trading at $.52 per share. So they have funds available of up to $1.2 million they can access if need be, without any dilution. That's a lot of money to put into drilling up their Huronian project. Really like this story!