George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Thanks for sharing that SpaceHoppa and I totally agree with your comments re the recovery and the options.
The options should be linked to SP performance NOT benefit underperformance with a lower strike price!
There is no change in behaviour from this lot! It’s just the asset that keeps most here.
Looks like we may get some POG tailwinds soon which is after all why we have Au in our pf’s!
Good luck with your investments
Trek
I had a reply from Pure from my enquiry about poured gold in Q3,
it is a bit confusing between what poured and produced means.
However it would seem either September was a shocker, or there was a pour ready to go but not poured,
which would make Sept figures lower, but might mean Q4 is better. I'll leave it there.
Hi,
Apologies. It seems that has come across in a bit of a confusing way. The 5535 figure from August was ounces “poured” not “produced”. In August we poured more than we produced due to accumulated inventory. Apologies for any confusion on that front, as that was an oversight on our part, and of course not our intention. The number of ounces “produced” in August was very similar to the July figure of 3700.
https://sprott.com/media/4477/211027-scp-pgm-3q.pdf
"Today’s production of 9.3koz @ 4.8g/t is not only a healthy 48% improvement QoQ but identical to our
forecast..."
Took me a while to find these numbers.
August ounces poured from 'puregold-completes-mill-upgrade-achieves-1000tpd' (pub 7th Sept)
July ounces poured from 'Strong Start to Q3 and H2 Outlook' (pub 16th Aug)
The suggestion from chipperfrd, could be plausible. Frankly, about the only positive scenario I can forsee. Yes, that means September was a bad month, but 3725 Oz better than 0. I dont know how disruptive installing all of the new equipment might of been, though the RNS from August says some of it was already installed.
If they are not counting July for Q3, then they really will struggle to meet their H2 guidance of 27k Oz.
Other board, says Sprott has a new note out (where he glosses over September Lol). Anyone got it?
Yes it has been a sh*tshow, but its must all be in the price from here, and hoping things improve from here.
chipperfrd at the other place has helpfully suggested that Pure has only counted
'' production since 1 August, ie when they declared commercial production. Hence, just August and September are counted.''
This could in theory be true, meaning in Sept they only produced 3,725 oz in Sept which would be awful.
However I don't buy it. Pure says ''Third Quarter 2021 Production Results''
no mention of counting from a certain date,
or since commercial operations,
or stripping out a whole month of production
or for two months only.
It still seems very weird to me, as the alternative if true means Pure had a shocker of a September!
Well they do outsource clerical stuff through one of the directors spin offs and they ONLY spend ONE MILLION dollars per year on it so yeah, probs just a simple clerical error in adding numbers together after all you only get what you pay for!!!
Maybe some of August production was found to be from Iron Pyrite.
July and August ...
Just noticed that Jeffus888 said similar earlier today. Why is no one talking about this?
The RNS says Pure produced 5 oz LESS than they had already said they had produced in July and September.
THIS DOES NOT ADD UP !
Anyone have any theories ?