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Showing a big drop today on ( D ) over 11% but only a 3.57% drop here on lse with the spread showing as 7.69%.
Google is with ( D )
The high since 11/8/22 was 7.85p on the 15/8/22.
Already lost 91% don’t think Pure Gold will improve. It is all bull shi..
https://mailchi.mp/82f64a71967c/puregold-red-lake-roundup-newsletter-august-2022?e=ed6f1fb69c
TDT
I'd have thought 14p would be more likely as the prospect of recession looks ever closer, investors flock to gold and the less risk averse look for additional upside via this, admittedly high risk, story.
It's been a disaster-class from PUR on how to run a mine. I'd back them to attain further operational improvements as Q3 progresses but is it too little too late? Legacy investors are hoping that rising gold prices amidst throughputs in line with the original mine plan can give this the jolt it needs, because based on the balance of information we're seeing of late, it looks like Anglo Ashanti are happy to write it off and let Sprott pick up the pieces.
Fingers crossed then but they're just too far away still to my eye - I'd rather move the money to a more near-term win (diamonds) so I have but GL and I'll keep an eye on her, especially if she ends up at 4p or so.
I totally get it.
But it is shown in the geological testing that the grades will improve drastically the deeper they go. That combined with more sophisticated targeting and increased mill processing, should see this be cash positive by Q4.
Now if the gold price can get off its arse, we'll see drastic re-rating if all comes true.
Sure but look at the quarterly loss still - they're likely to be £100m+ in debt (2x the current mcap) by the time they stop the bleeding.
Head grade in the 2s still?
It's not pretty reading is it?
I can see why the cut-off for the new MRE was at 3.38 g/t - they don't appear to be able to make money below that which is a bit shocking tbh.
I'll pass for now - reappraise on the next update but GLA
well we may still be lying in the gutter, but at least we are now looking up at the stars rather than face down in the slime!
...around 500 in the mill. They want to average 825tpd in Q3 at a higher average grade of gold.
Revenue could jump 100% next quarter if they achieve this.
I guess there had to be a reason for publishing the picture of smiling miners behind a bar of gold. Operation still fall far short of what's needed to sustain this operation and they're still doing the BS thing to make it look otherwise. What was it The Who said:-
Meet the new boss
Same as the old boss
TDT
Seemingly well on the way to becoming a succesful mine though am not too keen on some of the fancy business speak.
I still think him a shifty snake oil salesman. I'll be guided by results not what O'Dea says but let's hope this is a genuine and sustained turnaround.
TDT
Yes, that’s a very confident interview.
I’ve done very well over the years in turnaround stories, and I suspect PUR could be one of those.
A Gold rally will certainly grab investor focus too.
If they have truly turned this mine around and we get that information in Q3, Q4, at the same time as gold breaks out from its down trend, then Pure Gold Mining could turn into a rocket ship. It won't reach old highs anytime soon, but in a couple of years it's a possibility.
Look at the Bigger picture, and wait for sentiment to turn & exciting news to come.
“The PureGold Mine is centered on a 47-kilometer (km) property, the majority of which remains unexplored. To date, the company has defined a 7 kilometre gold system that remains open along strike and at depth. Among the most highly prospective targets is 8-Zone, a high-grade zone where past results include 4.3 meters (m) at 466 g/t gold and 5.5m at 342 g/t gold.”
day/week/month
Take your pick :)
And the new record is that they produced that in a day? ;)
"They did it!
The crazy son of a b**** did it! " - The President (Independance day)
Here's hoping they actually turned this monster of a mine around and they are now producing at an effective rate!
Just so everyone knows, the image shows 41.362 kg of gold or approximately $1.985m worth.
So far, so great, let's see what turns up in the coming days/weeks.
Now up 18.5% on 830K traded.
The Canadians may start to become re-interested, Monday May open strongly.
Let’s wait & see.
Either renewed confidence or something to come
Was sold off as if it was priced to fail, sellers even continued after the $31 Million was raised.
Very tentative buying back has started and this can move super quick, once some sort of confidence starts to flow back then this could be a belter.
Once an uptrend is established then investors will return, MCap seems extraordinarily low for what we’ve got.
@ BillyBoy
I think 2m oz @ 7 g/t should be an enormous cashcow over the next five years+.
"Should be" but clearly hasn't been so far via whatever TF has been going on here for the last 18 months.
That said, the SP is a 20-25x from the top where the market will have been eyeing a billion quid FCF throw-off return from the phenomenally high grades here - once they've got their sh*t together of course.
All other things being equal, 2m oz @ 7 g /t should be treated/valued as 10m oz @ 1.5 g/t, i.e. it's a massive amount of Gold overall but with the benefit of a huge/quick return on capital deployed because the grades are so high and the AISC SHOULD be really low.
I'm saying "should" a lot here of course and that's the conundrum - have they fixed it? Is the new MRE way more in-line with the reality under the ground now they've had a year or so at it?
We'd all like an updated AISC/NPV (coming in Q4 presumably) to crunch the numbers on more accurately than the current finger in the air job but at £50m mcap this is an awful lot of extraordinarily concentrated Gold and a 10x to get it halfway back to the top certainly can't be ruled out?
They're obviously not going to get a third chance here but at this price/timing I'm willing to give them a second chance - they must surely know a hell of a lot more about what they're doing by now and the new MRE re-confirms that the Gold is there.
Not forgetting that some 80% of the Red lake holding remains unexplored though some 60 % of that is impossible mining terrain