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Why accept a loss? This just MIGHT recover if they sack the management.
Ha, ha!
Reply is as follows. I do not want to take a large loss. I recognise that gold long term will rise. I am heavily invested in other gold firms that are doing well but this has continued to progress like a drowning man. weighed down with lead in his pockets. If I eventually break even I'll be happy.
I explained why I invested more in my post
''My view is the asset is too good and in a safe jurisdiction to be at this share price for too long.
Grades and throughput projected to increase, cost to remain static, headline AISC to drop.''
You explained why you should not be invested in Pure,
but strangely claim you are invested and not selling.
Your words and your claims, are incompatible.
I explained why I invested more in my post
''My view is the asset is too good and in a safe jurisdiction to be at this share price for too long.
Grades and throughput projected to increase, cost to remain static, headline AISC to drop.''
You explained why you should not be invested in Pure,
but strangely claim you are invested and not selling.
Your words and your claims, are incompatible!
Why on earth put your money into an underdeveloped resource like this when you have dozens of well run firms producing hundred thousand ounces of real gold on a yearly basis. All this firm is good for is drilling rabbit holes and giving a splendid spiel about how great the findings are. I have been invested here for a couple of years and I think I have caught on to their game, slow as I am.
'Run the firm as a tax loss for billionaires' would be a proper description of their activities. I still hold quite a large number of shares and only see a positive return when gold hits $3000 an ounce but that is not going to be tomorrow and it is not going to be influences by the titbits coming out of this firm. I can afford the wait, foolish as I am.
Caveat emptor!
Despite feeling management are self-serving rampers,
I took an extra 11,000 today to round up my holding to 80,000
My view is the asset is too good and in a safe jurisdiction to be at this share price for too long.
Grades and throughput projected to increase, cost to remain static, headline AISC to drop.
Directors MIGHT issue some more shares to their city friends again,
however I now expect ''commercial'' income from the mine to kick in to negate that dilutive risk.
Not with the losses I have on this Mickey Mouse share!
Cheated, 'one would expect' 200k Oz in phase 3 of the mine, we are just entering phase 2, targeting 100k per year (Q4 2021).
https://www.puregoldmining.ca/wp-content/uploads/2021/09/PureGold-Deck-September-7-2021-Final.pdf
- Slide 5 mate.
Suggest reading up on PUR a bit more before posting what might be interpreted as bashing or de-ramping. Did you know some people do that as a paid job (obviously failed the McDonalds interview), and you wouldn't want to be mistaken for one of those pond life's would you?
Time to load up here at PUR my friend and spread the word.
Thanks for the info Darton but one would be expecting more than 200,000 ounces if this site were any good.
They ought to pull up their socks. The fall in stock value is well above normal for a supposed superior goldmine.
Q1 results (jan)4,011 ounces at a 95.0% recovery rate.
Q2 results (may): 1,908 ounces of gold produced
Q3 'Strong start RNS' (aug) Gold production achieved a new monthly record in July of approximately 3,730 ounces of gold produced. Mill recoveries averaged 96.0% for the month.
Expecting Q3 results fairly soon, expect once the "over-allotment option to purchase an additional 15% of the base Offering" has been closed, then I hope we start to see some good news and a slight rise in the SP.
Not trying to dress this up as a trouble free investment, but to be fair all the details are regularly published, and all you need to do is sit down and read each RNS and interpret the data. The dilution is not great, but its 'only' another 6% on top of vast dilution anyway, probably not worthy of such a drop IMO. I have used this opportunity to get my average down, and on paper this is now fairly well de-risked. As was mentioned before by others, all the hard part has been done. I actually think the extra placing was due to using contractors to increase the ramp development. Its possible that they just wanted to get to producing higher quantities faster. Im prepared to give them 'one last chance here' and as said before, betting with them and holding shares close to their share option price of the BOD AND the new placing participants is a fairly sure bet. Not expecting dividends of even debt free any time soon, but expect to be able to flog on the shares nearer the 90p mark and if they really get their act together, I may keep a few.
Cash burn reasons ? -
"Steady progress on ramp development, with daily ramp development rates for the Main and East Ramps averaging 5.4 metres and 3.7 metres per day for July, respectively. With a dedicated contract crew now focused exclusively on the Main Ramp as of July, capital development will continue to be a priority for the balance of 2021 to ensure continued stope availability and flexibility and to accelerate drilling and access to 8 Zone"
This seems to be a dishonest concern. No statement about the amount of gold poured, if any!
The only thing that needs a re-rate here is the BOD.
Gold will be part of the Banking System, in the future imo, to bring credibility back to a system, many have lost faith in... Then imo we will see 1 troy ounce move to a VERY VERY high level.. All imho.