FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF)

FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) Ready to Roll?

FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF)

FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) lost almost 12% on Friday to close at $0.4408, very near its 52-week low of $0.4172. Volumes on this down day were very heavy. FFMGF has a 30-day, daily average trading volume of 890,740 but on Friday the shares traded over 4.7 million times.

FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) is a unique player in the minerals market. The company does not mine its assets, rather it seeks to acquire mineral assets when the prices are low, bank the asset, then exploit it when the price returns to historical norms. When the mineral’s price is at a level where extracting it would make business sense, FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) enters into agreements with third-parties to execute the exploration, development, and production while First Mining takes a residual interest in the project. That interest may be in the form of royalties, minority interests, or equity positions. The goal of this business plan is to generate continual cash flows for the shareholders of FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF).

The most recent events with regards to the company’s future are the testing that is taking place at its 28,500 meter diamond drill infill program on its Goldlund Gold Project – wholly owned by FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF). On April 25, 2017, the Company announced the results from the first 12 drill holes from the Goldlund Gold project and on May 2, 2017 the Company announced the results from an additional 11 drill holes at the project. Of the 37 holes now released, 34 holes contain significant gold mineralization. Gold extracted during the current drilling program occurs both as fine disseminations in quartz vein stock-works and as more discrete larger grains up to 2 mm spatially associated with pyrite in the quartz veins.

Despite the company’s commitment to a gold play, shares of FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) do not seem correlated to the price of gold. Over five years FFMGF shares have appreciated over 65% while a popular gold ETF has only gained 4%; over the past year FFMGF has lost 24% while the gold ETF has lost 4%; and YTD FFMGF has lost 32% while the gold ETF has lost 8%.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) Seeing Action

FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF)

Shares of FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) are up over 8% on volumes approaching three times their 30-day, daily average. Last week the company announced the second set of assay results from its 106 hole, 28,500-meter diamond drill infill program on its 100% owned Goldlund Gold Project (“Goldlund”), located near the town of Sioux Lookout in northwestern Ontario, Canada.

The drilling program comprises a total of 28,500 meters within 106 drill holes using HQ sized (63.5 mm) core. So far 76% of the planned drill holes have been completed and the Company is awaiting additional drilling assay results. On April 25, 2017, FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) announced the results from the first 12 drill holes from the Goldlund Project. The Goldlund deposit is situated within a land package of approximately 280 square kilometres (28,000 hectares) referred to as the Goldlund Gold Project. The Property has a strike-length of over 50 kilometres in the Wabigoon Subprovince. Goldlund is an Archean lode-gold project located in northwestern Ontario, approximately 60 kilometres from the township of Dryden

Patrick Donnelly, President of FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) stated, “I’m very pleased with the second set of drilling results in that 10 of the 11 holes intersected significant gold mineralization. With this second set of drilling results, we have now received assay results on 23 drill holes of which 22 intersected gold mineralization. Based on these results, we are becoming very optimistic that the Goldlund Project could become one of our flagship gold assets.”

Keith Neumeyer, the Chairman of FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF), stated, “The Company is now focusing on generating internal organic value for our shareholders with a 2017 exploration program with almost 50,000 meters of drilling planned across our main projects. During the coming weeks and months, we expect to continue to generate a steady flow of news regarding our portfolio of high quality assets.”

FIRST MNG FIN CORP COM NPV (OTCMKTS:FFMGF) had an FY2016 operating loss of (-$8.525) million with no reported revenues. Total assets were listed at over $200 million and total liabilities were reported at $2.48 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance