{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"First Mining Gold (TSX: FF) - $5 Million Financing to Advance Springpole & Duparquet Projects","html":"","width":"100%","height":180,"duration":865,"description":"Interview with Dan Wilton, CEO of First Mining Gold Corp\nOur previous interview: https://www.cruxinvestor.com/posts/first-mining-gold-tsxff-advanced-major-gold-projects-seeing-increased-interest-3934\nRecording date: 31st October 2023\nFirst Mining Gold is raising $5 million through a non-brokered private placement to advance its Springpole and Duparquet gold projects in Ontario and Quebec. The financing will involve issuing up to 40 million units at $0.125 per unit, with each unit consisting of one common share and one-half warrant exercisable at $0.20 for 3 years.\nThe funds raised will mainly go towards permitting and feasibility work at the company's flagship Springpole project. First Mining is targeting submission of the final Environmental Assessment (EA) to regulators in mid-2024. The EA has already undergone two rounds of regulatory review and First Mining has addressed over 1,800 comments. CEO Dan Wilton believes that once submitted, confidence in Springpole receiving approval will significantly increase.\nThe focus over the next year will be on finalizing permitting and consultation with Indigenous communities. According to Wilton, the strategy is to get Springpole construction-ready in time to meet the major gold miners' needs for new Tier 1 assets. Many majors are facing declining reserves starting in 2026-2027.\nWith reserves of 3.8 million ounces of gold at 0.97g/t, Springpole has the large production profile majors are looking for. The 2021 pre-feasibility study outlined an operation producing 335,000 ounces per year over an initial 9 year mine life. Once permitting is secured, bringing in a partner to finance construction would be the next likely steps.\nFirst Mining's second advanced project is the Duparquet Gold Project in Quebec. An updated PEA released in September outlined a combined open pit and underground mine producing 233,000 ounces per year over a 11 year life. At over 3 million ounces of M&I resources, Duparquet's exploration potential is...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}