First Mining Gold Corp (FF) News

US Treasury Debt/Bonds VS. Holding Gold ..... summed up by Garrett Goggin .....

SKIP FORWARD TO 12:20 OF VIDEO .....



TRANSCRIPT .......

"the reason why Gold is such a superior asset to treasury bonds ... is

because if you're a country, any country, and you own treasury debt and

you run a foul of American foreign policy it's like; "Boop" (press of a button) gone ...

all your billions are gone ...

where'as Gold, you hold it in a vault underneath your Central Bank,

guarded by the military ... no one's taking your Gold ...

so a lot of countries - China has been moving away from treasuries ...

China's buying gold ... Russia's buying gold ... BRICS are buying Gold"

IMO the U.S. is in a debt death spiral and people like Elon Musk know it. He's already said on more than one occasion that I've heard that if they don't get the spending under control the U.S. will go bankrupt. What a bankruptcy would actually mean is unknown, but I assume it would mean the dollar is out as the reserve currency.

I agree with You Trump's gold card is IMO grabbing at straws. I don't see it being very successful. Lutnick is on TV as I post this and he's saying they hope that one million people will go for this idea. I'm skeptical that could ever happen. I will give them some credit for at least coming up with some new ideas,

I've said it before here, the spending has to be pared back in a big way, IMO they can't earn enough revenue to make up for the out-of-control spending.

The latest House Bill expands the debt ceiling by 4T. Someone should let them know they are headed in the wrong direction. They are seeking 1.5T to 2T in tax cuts (over 10 years). Another way of spending now and proposing to save later knowing full well that they can change their minds down the road. Still looking at a 2T spending deficit for 2025.

Lastly, Trump has said that his new 5m 'gold card' immigration plan will be used to pay down the national debt. That would require 7.2m very wealthy people to move here. If they have that kind of money - why would they buy citizenship here? They can afford a much better little to no tax structure and still own a house in the U.S. and visit. Why subject themselves to U.S. tax law? Do not see that happening and would be surprised to see even one buyer.

The US Treasury debt chart ... a big pile of debt about to hit due to Yellen selling short dated Treasuries ....

I wouldn't disagree that might be what they WANT to do, but can they actually do it? I have heard they want to propose a 50-year treasury note that would be gold backed. What about the other treasury denominations? Will any of those be gold backed, like say the 20-year note? IMO if they don't back say the 20-year treasury with gold too, then they're going to have problems still.

The only people buying a 50-year treasury note are people looking to gift them down to their grand children. That's too long to wait for most people.

On another subject, I just saw a clip on TV with Trump and his cabinet meeting today. Howard Lutnick made the statement in this meeting that Trump's plan is to pay down the U.S. debt and BALANCE THE BUDGET. What? LOL

All I can say is good luck with that! Lutnick didn't say how they would do it, but that's a really big promise to make.

I could see something like that happening but I also can see debt monetization as their most likely plan. Even with 7.5T in debt coming due through 2028 and about another 7.5T in new debt...that is still a huge debt load of 15T in 4 years. Our current gold holdings (supposed) at current market prices are less than 800B (a drop in the bucket at this point). Foreign reserves are down to 23% of U.S. debt holdings and continue to drop (down to domestic buyers and we dont have that kind of cash. You almost need a degree in math to discuss the amount of debt now.

The USGovt is going to try very hard to convince the bond holders to roll over their bond/debt holdings, instead of being cashed out ..... backing the face value of future bond holdings with Gold would make it easier to talk bond holders into rolling over their debt

I am seeing 7.5T in u.s. govt debt between now and 2028 that will mature. Where does he get 28T in just maturing debt in 3 years?

If you haven't listened to this interview, I would urge you to listen to it. The Fellow being interviewed seems very close to being right about the situation we're seeing now.

Listen to the whole interview as he talks about a variety of subjects, but at the beginning of the interview he speaks to what's happening with the gold repatriation and how the big banks are buying this physical gold for the U.S. This is all part of the Trump "new American golden age" plan. This should be a game changer for the gold price going forward. Scott Bessent said they don't "plan" on repricing the U.S. gold, but as the guy said he's saying that to keep the price cheap until
they let the cat out of the bag. He mentions Judy Shelton a few times here too.

IMO the miners are so cheap now it's pathetic, so buy low and sell high because the move is coming at some point. When all this gold news finally is released, we should a fairly parabolic move higher.

Is there any wonder the economy has stayed propped up for so long. It's the trillions of dollars that's been spent and wasted by the damn government. Here's yet another example of fraud and waste. This economy is due for a big slowdown as Trump tightens the screws on spending and government waste.
That will preempt the big rotation into safe havens like gold and silver. It's coming.

https://www.zerohedge.com/markets/vegas-hotel-rooms-mlb-stadium-rentals-and-more-doge-finds-schools-misused-billions-covid

As usual, Andy Schectman is very probing and asks a lot of good questions. What he's saying makes sense.

Andy admits he doesn't know what's going on, but he gives the possibilities of WHAT MIGHT BE GOING ON. All this gold is coming back to the U.S. since Trump won the election, so why is that happening? I don't buy the Trump gold tariff story. I thought it might be because they know we're short a lot of physical gold and they're bringing this gold back to cover their ass for the missing gold? Andy said the bar sizes are different from what we have in storage to what's being repatriated, so that might not be the reason either.

The only other big reason left is maybe Trump and his people understand we need to go back onto some sort of gold-backed treasury bond system and maybe even dollar-gold backed currency again before the Shit Storm hits with all that $28T treasury debt coming due, so this is why this physical gold is coming back to the U.S. I would add they also see what the BRICS are doing and it includes gold too.

So, with this physical buying shift taking place, in turn, it's collapsing the paper market for gold. This is turning basically into a run on physical gold and if it continues the momentum will build until the paper markets collapse OR the bullion banks quit shipping physical gold. That will fuck the gold price suppression scam going forward. The gold paper market will go away and at that point everyone will want to have physical gold in their possession. IF THEY CAN GET IT.

The banksters won't be able to suppress the gold price anymore. This could be the perfect storm for gold and of course silver will fly behind a big move higher with gold possibibly getting too expensive for most people to own. Interesting for sure.

I suspect that Trump has considered the results of a failed audit. And has a plan to leverage the reaction to such news. Else I don't think he would do it.

Just saw a Andy Scheckman interview and he showed had bad off gov. is. When a treasury note matures the government was pay it back.
In 2028 $28 Trillion in notes will mature. Each year Gov only takes in Less than $5 trillion. So we will be short over $23 Trillion. A reset is inevitable.

Yes it makes me wonder. Why? What are they hiding? The answer may very well be a moving target that has changed several times over the decades.
The government are always hiding something. So much of what is done is not what they say it is.

Ron Paul is a great American. What I like about this man is he tells it like it is, no candy-coating the scam the government's playing out.

It's a damn shame they didn't follow his advice years ago, but that would mean the average citizen would be a lot better off. That's not what the Elites want.

Here he is telling it like it is.

More M&A activity in the gold mining sector. Things are heating up.

This has been a thought of mine as well. We really cannot know what Keith's long term plans are here, but it would definitely not surprise me if he has been planning this since the beginning. I do know he is a very long-term investor who thinks decades ahead which is something you have to do to stay alive in the mining business. Since First Majestic acquired Jerritt Canyon we can at least be certain Keith does consider gold assets into the mix of First Majestic. He has said several times First Majestic is looking at assets abroad, and I think he is now done with expanding in Mexico after they made the Gatos purchase.

First Majestic really does not need to acquire FFMG. They just need to partner up with FFMG on Springpole and possibly Duparquet. Frist Majestic already owns 50% of the silver in Springpole so it really should not come as a surprise if they would acquire the other 50% of the silver and partner up 50/50 on the gold. I think this would be a relatively easy sell for Keith to his AG shareholders. However, we do have to keep in mind that AG also needs to turn around the Jerritt Canyon mine first and get it going. This is going to take 2-3 years or so I think, but if gold keeps rising over 3k/oz. then Jeritt Canyon will also bring in very nice cash flow. So the "prime time" to acquire or partner with Springpole would in my opinion be around this time. They could of course announce such a deal in maybe 12-18 months after Sprinpole has been approved and then work out all the details and close the transaction later. The priority for First Majestic right now is to optimize the operations from all the recent acquisitions (Jerrit and Gatos) and get that cash flow going. They already put out a very nice report for 2024 and current estimates for Free Cash Flow are really good for the next few years.

If this indeed is the plan to eventually merge with First Majestic then I could not be happier, that's for sure. This would also most likely explain why we have not seen a deal yet because it might be possible Keith has already told Dan what the plan is and unless they get a superior offer from someone else then the plan is indeed to partner up with First Majestic. The big question would obviously then be if First Majestic would also be interested in Duparquet or not. I don't see why they would not since it really has the potential to become a monster 15-20m ounce assets long term. Since these assets are really big it would mean the acquirer would need to have a good balance sheet and good cash flow. First Majestic will check both of those boxes in the next few years.

Is this Keith's master plan? To create a massive new North-American gold/silver miner by eventually merging AG and FFMG? It would definitely not be out of the cards, and if he succeeds in doing this then it could mean a potential 20-50 bagger down the road if we get a 10 year or so bull market in precious metals.

I'm shocked they haven't done another REAL audit of the gold holdings since the 1950's. The government pisses away billions and billions of dollars every year and doesn't know what they hold in gold reserves? Pathetic.

Another great indicator of how poorly this country is run.

Keith Neumeyer was interviewed by Andy Schectman on his "Little by Little with  Andy Schectman" channel.   The interview was about Keith's life-long career building mining companies.  Keith does mention First Mining Gold and the frustration and patience it takes to bring a project into production.  That was about the 7 minute mark.

Now go back and watch Dan squirm when asked the question why doesn't First Majestic buy First Mining.  Go back and listen to Dan's answer again.  As soon as Springpole receives EA approval there will definitely be interested buyers.  First Majestic might be interested in Springpole at some point as well.  Keith said in the Andy Schectman interview that silver is a more difficult market to stay in pure silver.  It is getting harder and harder to find and acquire projects ready to produce.  
A production company has to stay focused on production and projects that can produce. 

I would be shocked if they still had the inventory list(s) from the 1950s.

This is a very informative video from Mike Maloney speaking to this gold move and gold audit at ALL the different places where the gold is being held. Physical gold is being relocated to all parts of the planet.
You want to listen to this.

Not to belabor my point, but if Trump doesn't authorize a complete, forensic audit of ALL the gold and not only what's just at Fort Knox that's also not giving an accurate accounting of what we have. If they're doing a walk through at just Ft.Knox and the gold appears to be all there, how do we know what's still at the Denver and West Point Repositories? We don't

I'm not saying Trump isn't trying to do the right thing, but as You say this government is corrupt and he has to cover all his bases if he indeed wants to find the truth. That means doing a through audit.

What's Trump going to do if there's a lot of gold missing? Who stole it and who would he blame? I don't see them making an admission of a lot of this gold going missing, especially if they have no clue where it went and that would most likely be the case. It would serve NO purpose for him to say it's gone if he has no one to blame. Remember the last real audit happened in 1953.

If Trump, Musk, Rand Paul, Ron Paul or whoever else is really concerned go to Ft.Knox and do a walk through of the vaults there and they're told the gold is there AND that's all they do. THAT'S A PHOTO OP.

Some day what actually is/will occur regarding exposing the level of corruption will blow your mind. This effort is not business as usual. It is designed to annihilate the whole corrupt system and rebuild it all. No more Band-Aids or procrastination. Everything has a bullseye on it. It is not a game that photo ops are an option. Everything has a deeper meaning/purpose IMO. Both sides are as serious as a heart attack. Watching and praying. The greatest battle ever fought is underway.
So in light of the total plan Fort Knox is just a small ( although important) piece of the pie and results of it will likely get absorbed into the whole pie.

If I read that correctly, Rand Paul was asking for an in person inspection of Fort Knox. That's all fine and dandy, but IMO that's not enough.

Just seeing that a stack of what appears to be gold bars is NOT enough. They need to account for every bar and test that it really is gold.

O.K., here's the information we're seeking that explains what a REAL audit would entail. It says in this article that a real, thorough audit of Fort Knox would take 4 years.
This article gives everything we need to know about getting an audit done and it wouldn't be a quick, easy job. A lot more than just walking through the vaults to check and see that something is stacked there that LOOKS like gold.

Nothing's been said about auditing the other gold storage facilities holding the rest of the gold. That needs to done also. Only half the gold is in Ft. Knox.

https://www.zerohedge.com/sponsored-post/fort-knox-audit-spot-check-or-years-long-gold-hunt

The formal written request to inspect and start testing Fort Knox Gold .... with inspections to commence no later than March 19, 2025 .......

https://x.com/SenRandPaul/status/1893039226666496502

I never heard Trump say they're going to audit or do a close inspection of the gold held at Fort Knox. I heard Trump say on two occasions that he and Elon were going down to Fort Knox and check to see if the gold was still there. IMO that's not enough checking. There needs to be a forensic audit done on this gold.

I don't know how either one of them can discern a counterfeit bar of gold from a real bar of gold. I would think that might even be difficult to someone with a trained eye. I hate to say it, but it wouldn't surprise me in the least if whoever is ultimately in charge of this gold would be attempting to HIDE what may not be there.

God, knows they've had years and years to cover up any crimes being done. This is going to be really interesting, but Trump and Elon just walking around Fort Knox making sure our gold hasn't walked off is just another photo op, not a true audit. I'm skeptical that even if the gold is not there, that they would admit it, such an announcement would not be good for the dollar.

IOM When they audit it will be a true audit.
How much, purity. Who owns it. We have the shits of gov. Lying and hiding. If he is going to do it, it better be authentic. I am sure he fully understands what it means either there are not. I heard it said that if not there it is better to get it out in open at same time as the all the other SHTF events. If it is there then leverage it as planned.

I don't think the gold that's supposed to be in Ft.Knox is intermingled with gold from other countries. I would have to check, but Ft.Knox is JUST U.S. gold to my knowledge.

There are other gold storage facilities that have the gold we're supposed to be holding for other countries. In fact, this article I'll post says only about half of the U.S. gold is at Fort Knox. Do they count other countries gold as our gold reserves? I don't know, but I assume they shouldn't be.

My guess is that they'll find all of the gold there or at least say its there, whether it is or not.

https://www.military.com/daily-news/2025/02/21/what-know-about-fort-knoxs-gold-depository.html

Here's some of the other storage places for U.S. gold.

https://goldandsilvercentral.com/where-is-us-gold-stored/

I didn't see it in this article, but I think the Bank of New York holds physical gold too. That may be
where the gold in transit is kept or held. Just a guess.

Remember parts of a bar of gold in the vault may be owned by several separate clients, the USA may have custody but may own less than 100% of the value.

Here's a short clip from CPAC just yesterday. Trump talking about he and Musk going there to check out the gold.

This sounds like another photo op., he said he wants to see the gold. How does just seeing a stack of gold colored bars confirm the gold is real? You need to do an actual audit and test of the gold bars there, ALL the bars not just a few. If the vaults are empty, that's another story, but IMO a bunch of gold bars doesn't mean its real gold sitting there. They've had years and years to replace it with fake gold.

I've attempted to post three different links to this story off of YouTube and they won't paste. WTF
Go to UTube to see it.



Here's Musk.

There is a shortage now of physical gold. Uh oh.....

https://www.zerohedge.com/precious-metals/expect-gold-shine-2025

Check this video out. Peter Schiff gives some excellent insight and HISTORY on what's going on with the gold supposedly held by the U.S.

What happens if the gold they claim isn't at Fort Knox? Listen to what Peter says will happen. I actually don't believe EVEN if the gold's not there they won't reveal the truth to us about it. Peter alludes to that in this interview. It would be a fucking train wreck for the dollar if they told the truth and said it wasn't there, or the quantity was greatly understated. I don't trust Trump or Musk to even tell the truth if the gold's not in Fort Knox because they should know what that truth would bring.

I agree with Peter, that if the gold's not there, the gold price goes parabolic.

Yet another crypto hack. Oh, but don't worry your digital money is safe. LOL

https://www.msn.com/en-us/money/technology/cryptocurrency-exchange-says-it-was-victim-of-1-5-billion-hack/ar-AA1zy5Qr?ocid=msedgntp&pc=U531&cvid=47b4af78ac554ba8ce6addd2742c99f0&ei=31

So, we know just about everyone on the planet is buying more gold with the exception of the folks that still believe in the fiat dollar Most Chinese hold some physical gold or silver, as do other countries that are paring down their dollar holdings. Very few people in this country don't even think about holding physical PM's, much less buying any for protection. We live in a welfare state where everyone depends on the government to get by.

People like Judy Shelton have the insight to know the fiat dollar is waning and will be on the way out if something isn't done to back our money. I believe Trump knows that now too. BRICS is moving to a gold backed, commodity backed form of exchange. It's coming and only just a matter of when, not if.

THE JIG IS UP for the dollar if they don't do something to sure it up. That something is backing a back with gold and real, tangible commodities. In so many words that's what Judy Shelton was saying in that video I posted.

Details on how the Gold backed US Treasury bonds would work .......

the whole idea originates from Trump's first term FED nominee, Judy Shelton ......

in the following video from a couple months ago, Judy explains how the Gold backed T-Bonds would work .....

skip to the 40.24 mark for the details ......



Follow her twitter account here ......
https://x.com/judyshel

Gold backed treasury would be great. But for me I'd rather just go with the gold. If it goes up a lot it would not increase the treasury's value. If gold was rather stagnated the treasury note would make sense. Beyond the personal view. It would be great as US need domestic and foreign investors the make the world go round and a gold backed treasury would be attractive to all. It will happen.

O.K., this is a very important interview with Judy Shelton. This woman knows her stuff and if Trump doesn't abolish the Fed all together, she has to play some role in the Fed going forward. She's a bigtime gold backer and she's very knowledgeable about the relationship that gold and fiat have in history. This woman is very impressive. I would like to see Trump put her in charge.

Check out who she says should replace Powell as Fed head. I won't give it away. He would be a great pick too. This interview is very telling. The Fed is like the rest of government....incompetent. Let the free market run the show and get these clowns that don't know what they're doing out.

She talks about gold revaluation towards the end of the interview.

Yeah, when Steve Forbes made the comment investors would have the option to redeem their treasuries in either dollars or GOLD, I really perked up. LOL
My guess would be we would see a lot of gold redemptions coming when that became available.

I see what you're saying, but it makes more sense to me that if you back U.S. treasuries with gold you would do the same with the currency. It may take Trump to FIRST back treasuries, then later back the dollar. It may not happen at the same time, it may take longer because as You say the actual dollar creation is done by the Fed and those are considered two separate entities. I'm not sure if Trump can order the Fed to do it on his own. Maybe he can.

Trump may have to get his minions into the Fed to make the changes necessary to go with a gold backed dollar. I'm speculating on that, but it makes some sense. Steve Forbes was definitive today that the treasury market would be gold-backed under Trump. He didn't mention the dollar.

Wow, that would be HUGE. I would love to be able to trade in my US Treasuries for gold....assuming there would be no tax consequence. I have been quite distracted by work lately. I'll have to carve out more time for the news going forward.

Your question - how they would back treasuries and not back the dollar itself? They are independent. Treasury notes come from Government as an IOU to whoever buys them from the Gov. Dollars come from Fed. So Gov can do that and not need to do any gold backing on the dollar. I get the impression
Trump is using that plan as a starting point. Easy to do as long as he has the gold. Later he would address the dollar. My guess.

Forbes didn't get into the nuts and bolts about how it would work, but that's what he said. Might it be a partial gold backing? Who knows, but I would also ask how they would back treasuries and not back the dollar itself? He also made the statement you could exchange the treasuries for dollars OR gold.

I agree with You that doing that should be a MAJOR shot in the arm for gold. They better make damn sure the gold is there to back this move if that's their plan.
This is getting interesting.

I don't see how we can back Treasuries with Gold without massively revaluing the gold price. This will be interesting to watch play out.

Steve Forbes just said on Fox biz that Trump is going to back U.S. treasuries with GOLD and that those
treasuries would be redeemable in either dollars or gold. WOW

Trump better hope all the gold is in Fort Knox. LOL

Good news. I just saw this on Fox biz channel. They showed a clip of Elon Musk at the CPAC convention, I think from yesterday.

The Moderator asked him if they were going to audit the Fed. Musk said YES. Oh, boy, if they attempt that the SHTF moment is coming. The Deep State/Banksters will fight that audit tooth and nail IMO. That audit could sink the Fed's ass, let's hope so anyway.

On another note, I heard Larry Kudlow yesterday on his show say that Trump was going to gold-back U.S. treasuries, he wasn't specific on which ones would be backed, but that is good for gold too.

Is the gold really at Fort Knox? We're going to find out. I heard someone on TV yesterday say that either there's NO gold there or more than what they claim is there, because we also hold other countries gold. Time will tell, when the audit gets done.

They had a long segment on Fox this morning about everyone buying physical gold now. People may be starting to wake up to real money - gold.

https://www.zerohedge.com/news/2025-02-20/maybe-golds-there-maybe-its-not

I remember a conversation I had with Dan probably 4 years ago. We were talking about the valuation/market cap of the company at that time, and he told me then that he thought the company was worth $2 CAD 4 years ago! That was before we had even acquired all of Duparquet.

Valuation estimates are like opinions, everybody's got one, but instead of saying what you think the Company's worth, maybe in Dan's case it would be better to just keep your mouth shut. I've learned over the years that the miners stay in a perpetual BEAR market until they come out of them for a time. That's just the way this sector works.

I do believe FMG has a dilution issue that is keeping investors out of the stock. I hope Keith has some sort of plan to help us in that regard WITHOUT doing a share consolidation. Further share dilution is going to piss people off again, but it could happen. Dan said it might in a past interview.

The quicker they can get a deal done that's acceptable for shareholders, the better. That should make us financially viable going forward and put to bed most of the uncertainty.

What do you mean by "nothing"? I have over a million shares in FFMG with an average price of around 20cents (CAD). A billion dollar (USD) valuation would put us nicely over a dollar a share (CAD) so I would be more than happy with a 5x or more return from here. However, I won't sell my shares at that point because I think getting to that billion dollar mark is basically just the start of this story. Also, I don't really care what the "market" thinks right now because this entire investment case is basically a bet on partnering up with a major and then growing from there. If retail investors suddenly rush into the stock then all the better, but I really don't count on that happening to get my return for now. It will happen eventually once the sentiment turns in the market.