For thousands of other reports visit RSC's Mineral Intellingence Map
First Mining Gold Corp.
Summary
| Project: | Springpole | |
|---|---|---|
| Deposit: | Springpole | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 10/18/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-10-2016: First Mining Gold Corp. announces a PEA report for its Springpole deposit at the Springpole project. Amended: discloses the comparative post-tax values of the NPV and the IRR. In a recent webcast recorded at the OTCQX Energy & Mining Conferenc | |
| Resources: | (Resource, Ind.): 30Mt @ 1.26g/t Au, 5.0g/t Ag for 1.22Moz Au, 4.82Moz Ag contained | |
| CP/QP: | [Resources]: Gilles Arseneau (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | In a recent webcast recorded at the OTCQX Energy & Mining Conference (the “Webcast”), the Company made certain statements regarding the economics of the Springpole Gold Project and the Cameron Gold Project. These statements were contrary to Sections 2.3(3)(a) and 3.4(e) of National Instrument 43-101- Standards of Disclosure for Mineral Projects (“NI 43-101”) and, accordingly, the Company wishes to clarify them. The Company advises that there is currently no preliminary economic analysis (a “PEA”) for the Cameron project and, accordingly, any discussion of the economics of the Cameron project is not permitted under NI 43-101 and is withdrawn. The Company does have a PEA for the Springpole project but wishes to advise that the PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that PEA will be realized. In both the Webcast and in its management’s discussion and analysis (“MD&A”) filed on August 12, 2016, the Company disclosed a pre-tax net present value (NPV) and internal rate of return (IRR) for the Springpole project and it did not disclose the comparative posttax values, as such values were not stated in the original PEA for the Springpole project. In connection with the foregoing, the Company has filed an amended PEA for the Springpole project (the “Amended Springpole PEA”). The Amended Springpole PEA discloses the comparative post-tax values of the NPV and the IRR for the Springpole project, and the conclusions in the Amended PEA remain unchanged from the original PEA, with certain minor changes having been made to ensure the Amended PEA is in accordance with NI 43- 101. Accordingly, readers are advised to refer to the Amended Springpole PEA rather than refer to the disclosure in the MD&A and the Webcast. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report