Core Viewpoint - First Mining Gold Corp. reported strong second quarter results, highlighting positive exploration outcomes at the Duparquet Gold Project and successful capital raising efforts to advance its projects [2][3]. Financial Performance - The company raised over $36 million through a prospectus offering and private placement, with demand exceeding the amount closed upon [2]. - As of June 30, 2025, the company's cash and marketable securities balance was $5.8 million, and the equity interest in PC Gold Inc. (Pickle Crow Project) was valued at $21.5 million [5]. Exploration and Development - The company added a second drill rig at the Duparquet Gold Project to support an 18,000-meter drill program [5]. - Initial drilling results confirmed and expanded mineralization at the Miroir target, with significant intercepts including 2.77 g/t Au over 11.1m and 1.41 g/t Au over 11.9m [5]. - A Long-Term Relationship Agreement was signed with Mishkeegogamang First Nation for the Springpole Gold Project, emphasizing a collaborative development approach [5]. - The discovery of the "Minuit" zone at the Duparquet Project yielded multiple significant intercepts, including 2.25 g/t Au over 12.8m [5]. Capital Raising Activities - The company announced a marketed public offering of up to 27,800,000 units at a price of $0.18 per unit, aiming for gross proceeds of up to $5,004,000 [5]. - An upsized marketed public offering closed with total gross proceeds of $12,000,600 from 66,670,000 units [5]. - A non-brokered offering raised $24,437,000, consisting of 95,000,000 units and 33,350,000 flow-through units [5]. Company Overview - First Mining Gold Corp. is advancing two major gold projects in Canada: the Springpole Gold Project and the Duparquet Gold Project, with ongoing feasibility studies and permitting activities [6].
First Mining Announces 2025 Second Quarter Financial Results and Operating Highlights
Prnewswireยท2025-08-12 11:00