The Globe and Mail reports in its Tuesday, Nov. 4, edition that National Bank Financial analyst Alex Terentiew maintains a bullish outlook for gold prices, citing ongoing political uncertainty, declining real rates, persistent inflation and central banks as net purchasers of precious metals. The Globe's David Leeder writes that Mr. Terentiew views Canada as a "favourable" mining jurisdiction due to its political stability, established mining history, exploration incentives and transparent regulations, which many other global mining areas lack. Mr. Terentiew has reaffirmed his "outperform" recommendation and 70-cent share target for First Mining Gold. Analysts on average target the shares at 74 cents. Mr. Terentiew says in a note: "We view First Mining as next in line as it advances through final permitting of its flagship Springpole project, located in Northwestern Ontario. The company is awaiting its final EA/EIS approval for the project, and although a portion of the planned open pit is located under a lake, we expect the company will not face additional permitting challenges given the permitting success of similar producing Canadian projects. We expect the company will receive its final major permits in mid-2026."