Q: Your thoughts on these two juniors?
5i Research Answer:
FF shares have done very well and the stock looks good. As a developer it has no revenue, losses and negative cash flow. But it recently raised $15M and its assets look good. Insiders own 4% and have been buyers. It owns two large, long‑duration development assets (Springpole in Ontario and Duparquet in Quebec), plus a portfolio of earlier‑stage and partnered projects, offering high leverage to a rising gold price but also meaningful permitting, execution, and dilution risk. A recent study on Springpole looked quite good. We would consider it a speculative buy. IRV, at $24M market cap, is really too small for serious consideration and is essentially a lottery ticket.