First Mining Gold Corp (OTCMKTS:FFMGF) Rises From the Dead

First Mining Gold Corp (OTCMKTS:FFMGF) Rises From the Dead

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Shares of First Mining Gold Corp (OTCMKTS:FFMGF) exploded higher on Wednesday to kick off the new year. Gold has generally continued to perform well even despite a strong dollar. The stock ramped several sessions after the company announced that Daniel Wilton has been appointed as the Company’s new Chief Executive Officer, effective as of January 7, 2019.

According to the release, “Mr. Wilton replaces Dr. David Shaw, a First Mining director who was appointed as interim CEO in mid-October 2018 until a permanent CEO had been identified. Dr. Shaw will continue to serve as a director of the Company.” The move takes the stock well back above its declining 50-day moving average.

First Mining Gold Corp (OTCMKTS:FFMGF) frames itself as a company that engages in the acquisition, exploration, evaluation, and development of mineral properties. It primarily explores for gold, silver, lead, zinc, and copper deposits. The Company currently holds a portfolio of 28 mineral assets in Canada, Mexico, and the United States with a focus on gold.

FFMGF’s flagship property is the Springpole Gold project covering 32,375 hectares located in northwestern Ontario, Canada. The company is headquartered in Vancouver, Canada.

FFMGF is a mineral property holding company whose principal business activity is to acquire high-quality mineral assets with a focus in the Americas. Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc, and nickel.

According to company materials, “First Mining is a mineral property holding company whose principal business activity is to acquire high-quality mineral assets with a focus in the Americas. The Company currently holds a portfolio of 25 mineral assets in Canada, Mexico, and the United States with a focus on gold. Ultimately, the goal is to continue to increase its portfolio of mineral assets through acquisitions that are expected to be comprised of gold, silver, copper, lead, zinc, and nickel.”

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As noted above, FFMGF just announced that Daniel Wilton has been appointed as the Company’s new Chief Executive Officer, effective as of January 7, 2019.

Traders will note 50% tacked on to share pricing for the company in the past week. Moreover, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running just shy of 250% above its longer-run average levels.

Keith Neumeyer, First Mining’s Chairman, stated, “On behalf of everyone at the Company, I would like to welcome Dan to the First Mining team. The Board conducted a comprehensive search for the CEO role, and we believe that in Dan, we have found a CEO who combines extensive M&A and corporate finance experience, analytical and financial skills, as well as managerial and strategic talents. Dan’s proven track record in working with developing mining companies will be invaluable to First Mining as we continue to advance our corporate strategy and move our highly undervalued gold assets forward. I would also like to thank David for stepping in as interim CEO for the past few months while we undertook our search for a permanent CEO.”

At this time, carrying a capital value in the market of $147.37M, FFMGF has a significant war chest ($9.6M) of cash on the books, which is balanced by about $478K in total current liabilities. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $FFMGF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $FFMGF, either long or short, and we have not been compensated for this article.

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