Our Acquisition Criteria

Our Acquisition Criteria

FIRST MINING DOES NOT PROVIDE FINANCING FOR RESOURCE PROJECT EXPLORATION, DEVELOPMENT OR CONSTRUCTION. WE ONLY PURCHASE WHOLLY OWNED MINERAL ASSETS WITH THE FOLLOWING CRITERIA:

 

Quality

The project must have a minimum resource base of one million ounces of gold or gold equivalent (preferably NI 43-101 compliant but not necessary). The project must have considerable exploration potential.

Jurisdiction

We currently only focus on acquiring projects within the Americas. In Canada, we prefer the provinces of Newfoundland, Quebec, Ontario and Manitoba. In the U.S., we prefer the states of Nevada and Arizona. In Mexico, we prefer projects in Sonora, however, we do consider projects in mining friendly regions of Latin America.

Infrastructure

We look for assets with existing or proximal infrastructure such as roads, powerlines, water, ports and access to labour.

Land Tenure

Potential acquisitions must have good relationships with First Nations or Ejidos.

Holding Costs

We seek assets with considerable assessment and tax credits, within regions with low tax regimes.

Valuation

Our current mineral assets were purchased at an Enterprise Value of under US$10 per ounce of gold, however we will consider paying higher valuations based on the quality of the assets.

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