On April 6th, FutureMoneyTrends.com recommended shares of First Mining Finance (TSXV: FF). In our profile of them, we pointed out that management and major shareholders are some of the biggest success stories in the sector. Legendary names like Eric Sprott, Keith Neumeyer, Rick Rule, Doug Casey and Marin Katusa are all shareholders in this tiny resource stock.
It’s a new company – a mineral bank that is ideal, in Keith Neumeyer’s opinion, for the current bear market, where FF can acquire assets from distressed companies. If you recall, on April 7th, Keith, who has taken his two previous resource stocks from micro-caps to billion-dollar market caps, shared in an email that he set a personal goal to complete 3 transactions within the first 6 months of trading….
It appears that FF shareholders and Keith are on a very aggressive strategy, with their first acquisition announced yesterday – the takeover of Coastal Gold Corp. (TSXV: COD). We’ve been following this story closely, and you can read our write-up on May 4th here: http://www.futuremoneytrends.com/trend-articles/weekly-wealth-digest-news/coastal-gold-shareholders-screwed-management.
Coastal Gold Corp’s management actually rejected First Mining’s initial offer to buy them, and in response, First Mining Finance, through a series of press releases, appealed directly to COD shareholders. News sent out yesterday announced that FF and COD have entered into a definitive agreement, in which First Mining Finance will acquire all of the outstanding common shares of Coastal Gold Corp.
This transaction, expected to close in July, will add a 19th project to FF’s portfolio. COD’s flagship project, the Hope Brooke high-grade gold deposit, has nearly a million ounces of gold (844,000 oz indicated and 110,000 oz inferred).
In my opinion, this is the realization of FF’s mineral bank strategy – at least phase 1, acquiring established projects that add significant value to the company. With success this early — only 27 trading days in — Keith and the team at FF are exceeding our expectations.
I strongly suggest you consider shares of First Mining Finance (FF).
P.S. Keith Neumeyer has done two previous deals: First Quantum Minerals and First Majestic Silver, both of which achieved market caps of over $1 billion. And he has made it no secret that his goal is for First Mining Finance to become his 3rd billion-dollar company. Today, shares of FF trade for just 38 cents!