'It's a very short list' - First Mining Gold's Dan Wilton on project pipeline in Canada

More aggressive M&A is coming to the gold sector, said Dan Wilton, CEO of First Mining Gold. On Thursday Wilton spoke with Kitco Mining. First Mining Gold Corp. (TSX: FF) is a Canadian gold developer focused on the development of the Springpole gold project in northwestern Ontario and the Duparquet gold project in Quebec, what the company calls the two of the largest gold projects in Canada. Springpole’s land position totals 41,943 hectares. The project is located in a remote area, approximately 110 kilometres northeast of the town of Red Lake. The project is situated within the Birch-Uchi Greenstone Belt. The Springpole gold project will include the development, operation and eventual decommissioning/closure of an open pit mine and mill with supporting infrastructure. The company plans to submit its environmental assessment to regulators in the fall. Wilton said permitting is key to building value. "Almost every 5 million ounce plus gold project in Canada that has received its environmental assessment approvals has been either acquired or funded into at valuations in excess of $500 million," said Wilton. First Mining also owns the Duparquet Gold Project, a preliminary economic assessment stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region in Quebec. Duparquet currently hosts 3.4 million ounces of gold in the Indicated Mineral Resource category and 2.6 million ounces of gold in the inferred mineral resource category.In September First Mining Gold announced it closed a C$8 million bought-deal financing. Wilton said the pipeline for gold projects in Canada has dropped off. "It's a very short list," said Wilton. "All those large projects have to go through permitting processes and we know where we are in the process, which is at the front of the pack or not or near the front of the pack."Wilton said cash is coming into the sector with some big M&A's, but financings in the resource sector have been selective."We haven't had the rising tides raising of all boats," said Wilton. "What makes that happen: you're going to start seeing more aggressive strategic investment and acquisitions from large caps and mid-tiers who know that there is no way that they can advance projects for less than they can buy them for today." Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.