The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
TSX sticking at 56p equivalent for now, thatâs down 6% on a high 330k traded. I would have thought that would be mostly sells so itâs holding up early doors there.
I was hoping for it to go lower to add more. Will probably have to wait until tomorrow now and see what the arbitrage is in the morning.
For some reason I thought it may backtest 50p especially given the selling in London. Bit early for a top up but worth keeping an eye out incase it becomes oversold. Whilst itâs worth watching the TA it really is still an individualâs viewpoint. RSI is in range at 48 atm.
TSX...
https://money.tmx.com/en/quote/PGM
RSI-14
https://www.londonstockexchange.com/stock/PUR/pure-gold-mining-inc/company-page
Sat on my hands!
Ps itsyou, my money is the first 25k trade today was yourâs. Taking some risk off with a view to getting back in a tad lower? Good timing if it was!
I am just hoping for a top up.
Usual caveats,
Trek
Until there is independent auditing of what Directors say, AIM prices will always be manipulated. The recent large investor may well sue.
Read the RNS again, and dont see any reason to be selling at 10% down from yesterday. Nothing shocking in the RNS, I think we all knew they were having trouble. We now have a new experienced operations manager, more equipment installed (during the quarter), better grades to look forward to, 2 ramps in operation, increased tonnage - even without the permit as it is annually. Also still loads of cash, from placing.
Bought more. Would like to buy even more. 6 month timescale, think this will have improved significantly.
Also even slight hints in the RNS, regarding Maryse taking...'Mine in Nova Scotia from construction to commissioning, ramp-up and full production, through to its eventual acquisition by St. Barbara for $722M' Why would Darrin mention that??!!
Average daily throughput of 685 tpd but look we managed to mill 1,000 tpd for a couple of days - yep mine productivity is defiantly below processing capacity.
I don't believe they slipped in the part about Touquoy Mine in Nova Scotia - "through to its eventual acquisition by St. Barbara for $722M." for no reason at all. In fact PURE is still pretty much a pre-commercial mine due to not being truly financially sound at these grades & extraction levels which both sit below initial hype and at these running costs. But hey look what might happen, they dangle a carrot. "through to its eventual acquisition by St. Barbara for $722M."
What does concern me is that average daily throughput and why it isn't over 800tpd, is the ore being mined of such a low grade that it is not worth processing or is ore just not being mined?
Anglo Gold Ashanti must have had an a idea about the Q3 results prior to their private financing deal, because it was done just 9 days ago. Despite that they've poured the cash in, and that is a good sign.
The new addition to the Board was probably a condition for the deal, so it is most welcomed! However that is another fat paycheck on the books, and it would've been reasonable to get rid of some underperforming directors.
I hope that another dilution will be avoided, but depends on the grades. Not a word about AISC in this RNS...
Hi NDV1,
No, not my thing. Thanks
Trek
Trek, are you on Twitter bud?
Totally agree with the miss. But itâs in the past.
Whatâs in the SP and whatâs the likelihood of hitting the new targets is the tough questions investors face.
Expect TSX to give another hit then a gradual climb.
I am waiting for TSX before adding more.
Well done to those that sold on the bell. No doubt looking for a cheaper entry. Typically I slept in when I am usually reading RNSâs from 7am!
Anyways imo the hard yards are in, PIâs should grab any trading opportunities if thatâs their thing but the funded recovery should now follow.
We may also see a more tangible POG connection now production is better understood.
Usual caveats
Trek
'Company is targeting a production rate of approximately 600-700 tpd at an average head grade of 5.5-6.5 g/t Au for the fourth quarter of 2021'
I think Pure are being realistic here, possibly under promising the last quarter,
so may be we should produce 10 to11,000 oz, yearly total of 30 to 32,000 oz.
Well down from the year 1 59,000 oz guidance!
All that said, year 1 guidance I feel should have started after 6 months of gold production.
Ramp ups are fraught with problems, directors were deluded to think all would go like a rocket from day one.
Maryse BĂ©langer looks a good appointment.
How is it in line with expectations? 27-32000 oz for H2 has now turned into 20,000oz
RNS in line with the expectations...
This company have never failed to disappoint in the last 12 months!
Guidance is poor, with with both tonnage and grades below the design capacity, and that is with the new equipment already fitted!
That's just Poor Gold Mining for you!
This will become leaky if production is good. Think it may prove a steal. It is still risky though.