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Enough to make you puke. About $5m per year paid to this lot for failing miserably.
https://gb.wallmine.com/otc/lrtnf/officer/2041750/mark-o-dea
It would be easier to grad hold of an oiled snake than any of this lot. If they had any decency at all they'd give back what they've been paid.
TDT
The charts couldn't look worse.
The share price has broken down below the downward pointing wedge pattern and must reclaim the pattern for it to be a "false breakdown". This will likely only occur when the company announces financing has been secured.
Then the share price will be in the hands of the gold price and how well they can mine the ground.
https://www.tradingview.com/x/T2ZQhHjq/
The RSI is the most oversold it has been in the companies history and suggests a bounce is coming soon, however if financing is not forthcoming, this will keep tanking and the company will be bought for pennies.
Just wondering how many shorters will be taking part in the PP if there is one at this rate.
I have the feeling the CEO fecked up badly on this one !
Should be renamed Pure crap
You need to be smoking weed to take a chance on this one !
Re Ashanti making an offer, would that have to be at the 52-week High?
First day of the new tax year I should say :)
Maybe it does but last day of the tax year today - who knows what happens tomorrow.
This time next week we could be 10 or 20pence, or still at 15.
It really depends on our absent management and whatever deal they strike with Sprott and Ashati.
16p looks super to me guys.
By the sound of it little further to go to find the inflection point but.... 10p maybe would be a deffo for me...
Can anyone tell me the total amount of money raise to date? What is surprising is PG had incredibly high grade ore but its hard to fathom why so little ore and of relatively poor grade is being milled? 4.4g is good but the throughput is so low compared to what is possible and they are burning cash. Something seems odd to me as PG had the highest gold grades of almost any gold explorer but production is not matching this. The key is throughput and better grade to get them out of the cashburn. Ashanti cannot be happy having taken 20% stake but they have non-dilution and first refusal on any future placing so i suspect they are throwing their weight around as they could ge massively diluted or in fact could end up owners as i think if they go to 30% they need to make an offer. Market cap is £80m so i am wondering if total investment to date exceeds this or not.
I doubt they have secured in writing an equity raise at 20pence let alone 40pence, but who knows.
It is possible that Pure secure some, or a significant portion of the cash call by debt, meaning dilution is less.
There is an outside chance they have already secured financing (currently working on 'details' and creating bear trap) at 40p. This company have raised money well above SP level before.
They were already supposed to have SFCF & yet here we are.
I appreciate they're trying to rescue the company, & they've got no chance of doing that if they paint a realistic picture, but I can't help but think that even with this utter debacle, it's still sugar-coated.
The PUR story has been horse5h17 with the promise of chocolate.
Over the last 12 months we've seen that there is no chocolate.
All that's happening now is, they're making the shareholders eat it.
The Company expects that, in total, over the next six months, it will require approximately $50 million of external financing to bring the Company to a state of
''sustainable positive free cash flow'' at the corporate level.
They may not need any more cash IF plans go to plan.
And I would strongly suggest they'll need another fund raise in Q4. They need $50M for the next six months, but what are their expected cash needs over the next 12 months???
As I see it, your best bet for any kind of return is to buy shares in PUR debt holders: they're about to inherit a gold mine on the cheap.
Despite value of smelted gold the following extract from a report at end March indicates dire finances and the possibility of bankruptcy end April. How can any gold mine with real prospects get into this position ? Suggests large scale mismanagement and thats a polite version
"Pure Gold Mining Inc. said on Monday that it is seeking additional financing in the next 30 days to fund operations and service interest on its debt, and that it requires around $50 million in external financing over the next six months"
The London- and Toronto-listed company said that if the additional financing wasn't received in the short term it wouldn't be able to meet its obligations, resulting in a default.
Pure Gold Mining Inc. said on Monday that it is seeking additional financing in the next 30 days to fund operations and service interest on its debt, and that it requires around $50 million in external financing over the next six months.
The London- and Toronto-listed company said that if the additional financing wasn't received in the short term it wouldn't be able to meet its obligations, resulting in a default.
Hopefully the leak is unrelated to past misdemeanours such as pocketing gold OR misrepresenting the gold reserves. If theft, the Mounties would be looking into it (if called in) so my better judgement suggests the latter. Time will tell so what will the next RNS actually say ?
I wonder if our great leaders will speak, don't hold your breath !
More than likely packing their suitcases for quick run.
My collander has less leaks than this crock. Think the drop is as a result that the placing is done. Sadly the shareholders have all been fried..
It wont go to zero.
The downward pressure is a result of moronic management giving little reasons to buy,
but $50m darn good reasons to sell. It's the unknown placing price which is causing investors to sell.
Once that is announced, the SP will stabilise and could well rise in the hope it is the final equity raise,
and that management have the money to fix the problems left by previous incompetent directors.
I have written off my holding here. One I've got horribly wrong but that's life. Wouldn't it have been better to do a placing in the 40s? This looks like it may go to zero
Well it's times like this that the brave jump in to either make or lose a fortune whilst the timid bail out to run for the hills.
Would I build a new position here today ... probably not ... however given how high my average is and how big the percentage loss I'm looking at, selling up hardly seems worth it, whilst very little additional expenditure could radically drop my average price which IF things turn around could prove quite lucrative.
I'm watching things closely and I'm sorely tempted in spite of the obvious risks.
It's clearly going to zero. Yes, the mine itself will probably survive but PUR, the company we're all "invested" in, is going to zero.