FFMGF - Revisiting First Mining Gold The Company Still Looks Cheap
- The company released the results of a PFS on its Springpole gold project and the NPV at $1,300/oz of gold went down by $304 million compared to the 2019 PEA.
- On the plus side, initial capex was slashed by $91 million as First Mining Gold is going with a smaller processing plant.
- I don’t like the company’s decision to distribute its shares and warrants in Treasury as they could’ve been used to fund some of the CAPEX for Springpole.
- However, I remain bullish on First Mining Gold and I think the company should be valued at over $0.46 per share at this stage of its development.
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Revisiting First Mining Gold, The Company Still Looks Cheap