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Took a few. 50k yesterday am and the same 10 mins ago.
Tricky,
I think we have the top flight asset,
however I am unsure what we have regarding management.
They are not mediocre as they have good ability on paper and have taken Pure to a ''commercial'' mining entity,
but they have dropped the ball in the last year and shown themselves to be untrustworthy.
That is my main concern, but then again, the asset . . . . .
SpaceHoppa
I think it was Buffet who said a top flight management team and mediocre asset is better than a mediocre management team and top flight asset. I'm not sure what we have here.
TDT
Best of luck to you too Cheated.
We are all in shares to make money and our lives better,
so I am always pleased to see everyone's' investment choices going well.
Spacehopper, best of luck to you and hopefully long term this turns out to be a success for you.
I just like to see many hundred thousand ounces rolling along, helping to pay a reinvested dividend.
Well I took your 9000 Cheated,
and another 10900 for my final investment tranche.
I think management are competent and experienced, but I don't particularly trust them.
However I like the asset more than I dislike management.
For sure they would have done extensive DD after the 88p placing. The SP is only a part of the metrics for these investors. They usually have a longer timeline and are looking for profit and growth + probably a hedge against macro via gold.
What it says to me is buying at 50p and selling at 60p just in case they were to churn some looks on the face of it a ‘no brainer’!
But then I thought that at 88p was it, oh and 100p. Chances are we got it right this time eh! A lot has happened with the drill and mill in the interim.
Still a trade though for me from here. Not an investment. Trust is trust. Just aiming to get some cash back now.
Usual caveats,
Trek
Have finished playing here.
I dumped my 9000 shares at a great loss and split the proceeds between PAF and CEY.
What point is there in having money if you can't lose it gracefully?
Nturally they would have a few friends in these institutions who are participating in the game.
Here is the information taken from the RNS, regarding the buyers of the placing. Although CHEATED is incorrect about their expertise, I though it worth posting to show the calibre of the recent buyers. Note the first outfit, also bought in the last placing, which was at a higher price. Finally includes Sprott who is a major backer of this project from its outset.
The syndicate of underwriters included
http://www.clarussecurities.com/success-stories/mining - These guys also bought in the May 2021 placing, so they must be happy.
https://www.desjardins.com/ca/about-us/desjardins/governance-democracy/structure/desjardins-securities/index.jsp
"primary business is buying and selling Canadian equity securities on behalf of U.S. institutional clients and broker/dealers"
https://stifelinstitutional.com/global-coverage/canada/
The Equity Research Group of Stifel GMP and Stifel FirstEnergy is comprised of award-winning analysts, many with significant hands-on experience in their respective industries.
https://www.haywood.com/
Haywood's Research Analysts provide comprehensive coverage of the Mining, Energy...
https://www.pifinancialcorp.com/
Our Capital Markets professionals including our Research Department, Investment Bankers, and Institutional Sales & Trading teams consistently deliver best-in-class service and expertise across a variety of sectors
https://sprott.com/what-we-do/resource-financing/capital-partners/
Sprott Capital Partners was formed in 2017 to provide a comprehensive suite of capital raising and advisory solutions to natural resources companies.
If they have fooled us, they are quite capable of fooling banks and other concerns. These are soft unsuspecting targets.
Credibility ranking here is NIL.
I suspect that their drill holes are randomly spaced too far apart, to tap a consecutive lucrative gold bearing seam to bring in high commercial returns. I could be wrong.
I think most of us feel that the Pure directors have behaved like little turd,s,
ramping the asset to high heaven, then selling en masse before the share price nose dived.
Like many others, Pure management are not to be trusted !
However we are where we are, and the question is have we bottomed or will it go lower??
I believe we are at or near the bottom! As we are allegedly a ''commercial'' mining company,
then as long as gold doesn't nose dive as well,
then Pure is very cheap, and it is unlikely to get ''much'' cheaper.
I am not sure if this is the first gold mine in the world which have declared commercial production, and then 5 weeks later has gone back to the market!? That just sums up their actions in the last 12 months! Their gold might be pure, but their souls are clearly not!!!
From 177p dropping to 48p.
Do you not get ****ed off being taken to the cleaners?
If you sell, you might be able to buy one share in CEY for two of your impure gold shares.
Interesting that many of the afternoon trades have not printed. They are published on the LSE, however.
Looks like MM's playing with the price IMO. Cant see any reason for the price to drop. No major volume involved any way. Probably some collusion with Canada.
I think looking for 40p was bonkers, bonkers.
There was some talk on the Canadian board that the bank might back out of the placing. This is the type of fear mongering you should be aspiring to CHEATED. Maybe note it down for next time. Now that the placing is away, I have no worries here. The buyers will know what they are buying, and may have had a little nod about up coming news, as the placing was fully over subscribed at 61p equivalent.
Resource update promised for Q4. Hmmmm.
PUR got their money and the SP falls!
US treasuries on the up taking cash away from equities and gold on dollar strength.
Give it a few days and see which way this goes. Too many other winners to dwell here if it doesnt turn soon!
Trek
Got some more at 48.47p.
Looking for 40p here.
Very interesting down at these levels and have been watching for a while. Especially as it's below the price I bought last year, although sold all too early, but was a valuation decision at the time.
On the side-lines though, esp with Gold dropping(although $ is rising), as all miners are going to see their costs rise dramatically, as fuel makes up a large part of that.
Will continue to watch for the time being.
GLA
Investments in gold mining will win out several fold once the forthcoming worldwide economic recession begins. It will make the 2008 crisis look like boom time.
Inflation up and coming will push this back up...Next year 3 times this SP
Cheap as chips ATM