Sun Valley Gold Cuts First Mining Gold Stake to 4.9%

TL;DR

**Sun Valley Gold just trimmed its First Mining Gold stake, watch for potential bearish sentiment.**

AI Summary

Sun Valley Gold LLC, a Delaware-based investment firm, filed an amended SC 13G/A on February 5, 2024, disclosing its ownership in First Mining Gold Corp. As of December 31, 2023, Sun Valley Gold LLC beneficially owned 40,401,391 common shares, representing 4.9% of First Mining Gold Corp.'s outstanding shares. This is a decrease from their previous reported stake, indicating they have reduced their position, which could signal a shift in their outlook on the company's future prospects.

Why It Matters

This filing shows a significant institutional investor, Sun Valley Gold LLC, has reduced its stake in First Mining Gold Corp., which could be interpreted as a loss of confidence or a strategic portfolio rebalancing.

Risk Assessment

Risk Level: medium — A major institutional investor reducing its stake can signal potential concerns about the company's future performance or valuation, introducing uncertainty for other shareholders.

Analyst Insight

Investors should investigate the reasons behind Sun Valley Gold LLC's reduction in stake and consider if this signals a broader negative outlook on First Mining Gold Corp. before making investment decisions.

Key Numbers

• 40,401,391 — Common Shares (The total number of shares Sun Valley Gold LLC beneficially owns in First Mining Gold Corp.)
• 4.9% — Ownership Percentage (The percentage of First Mining Gold Corp.'s outstanding shares owned by Sun Valley Gold LLC.)
• December 31, 2023 — Reporting Date (The date as of which the ownership stake is being reported.)

Key Players & Entities

• Sun Valley Gold LLC (company) — the reporting person who filed the SC 13G/A
• First Mining Gold Corp. (company) — the subject company whose shares are being reported
• 40,401,391 (dollar_amount) — number of shares beneficially owned by Sun Valley Gold LLC
• 4.9% (dollar_amount) — percentage of First Mining Gold Corp. shares owned by Sun Valley Gold LLC
• December 31, 2023 (date) — the date of the event which required the filing

Forward-Looking Statements

• First Mining Gold Corp.'s stock price may experience downward pressure due to the reduced institutional ownership. (First Mining Gold Corp.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• d10973154_13g-a.htm (SC 13G/A) — 109KB
• 0000919574-24-000670.txt ( ) — 111KB

From the Filing

SC 13G/A 1 d10973154_13g-a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* First Mining Gold Corp. (Name of Issuer) Common Shares, no par value (Title of Class of Securities) 320890106 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [_] Rule 13d-1(d) __________ *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 320890106 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Sun Valley Gold LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [_] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 40,401,391 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 40,401,391 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 40,401,391 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.4% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA CUSIP No. 320890106 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Palmedo Holdings LLLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [_] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Nevada NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 40,401,391 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 40,401,391 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 40,401,391 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.4% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN CUSIP No. 320890106 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Peter F. Palmedo 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [_] (b) [_] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 40,401,391 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 40,401,391 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 40,401,391 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.4% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN CUSIP No. 320890106 Item 1. (a). Name of Issuer: First Mining Gold Corp. (b). Address of issuer’s principal executive offices: Suite 2070 – 1188 West Georgia Street Vancouver, B.C., Canada V6E 4A2 Item 2. (a). Name of person filing: Sun Valley Gold LLC Palmedo Holdings LLLP Peter F. Palmedo (b). Address or principal business office or, if none, residence: 620 Sun Valley Road, 2 nd Floor P.O. Box 2211 Ketchum, ID 83340 (c). Citizenship: Sun Valley Gold LLC – Delaware Palmedo Holdings LLLP – Nevada Peter F. Palmedo – United States of America (d). Title of class of securities: Common Shares, no par value (e). CUSIP No.: 320890106 Item 3. If This Statement is filed pursuant to §§.240.13d-1(b) or 240.13d-2(b), or (c), check whether the person filing is a (a) [_] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [_] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [_] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [_] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [_] An investment adviser in accordance with § 240.13d-1(b)(1)(c)(E); (f) [_] An employee benefit plan or endowment fund in

View Full Filing

View this SC 13G/A filing on SEC EDGAR