First Mining Gold (FF) - PFS on Track for H2 2023
Interview with Dan Wilton, CEO of First Mining Gold Corp. (TSX: FF)
Our previous interview: • First Mining Gold (FF) - NEW Acquisition A...
Recording date: 27th February 2023
First Mining Gold Corp. is a Canadian project developer with assets located in Ontario and Quebec. The Springpole project of the company is one of the largest, undeveloped, open-pit gold deposits in Canada. The project’s economics include an 11-year life of mine, post-tax NPV5% of CAD$ 995 million and a post-tax IRR of 29%. The project also hosts existing infrastructure such as a 70-person camp, and access to logging roads and power lines within 40 km of the project’s proposed plant location. The company’s 100%-owned Duparquet gold project located in Quebec is an advanced exploration asset, which holds 3.4 million ounces of gold in the measured and indicated category as well as 1.6 million ounces of gold in the inferred category. The project offers the opportunity to consolidate approximately 5 million ounces of gold in the Abitibi gold district at less than CAD$ 5 per ounce of gold.
First Mining Gold Corp. has a cash position of CAD$ 15 million as well as a further CAD$ 10 million in marketable securities. The company expects a further CAD$ 18 million in additional cash and share payments.
The company is underway creating a technical update for its Springpole project which it plans to publish in the first half of 2023. The technical update will incorporate the findings of its conducted environmental assessment initiatives. The company plans to submit the final environmental assessment for approval in H1 2024. First Mining Gold Corp. further plans to publish an updated pre-feasibility study of the Springpole project in H2 2023. The company will complete a feasibility study of the project whilst awaiting the approval of its environmental assessment in the second half of 2024.
0:00 - Company overview
0:30 - Mood in the BMO Conference 2023
2:09 - Interactions with the First Mining Gold
4:45 - Interests from Mid Tiers on the company’s projects
6:07 - Plans for the technical updates and upcoming FPS
9:41 - Working with the indigenous communities
13:06 - Current cash position of the company and asset progress toward gaining monetary value
15:57 - Outro
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