Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Q3 is just over 2 months away.
Aiming to be cash flow positive in Q3.
Gold rally ahead & higher grades at the mine as we go deeper.
Sprott isn’t going to bail at this point having invested so much, this will turnaround, as with all risk, comes reward.
That’s why we’re in this game.
Sentiment will change too once they get proper traction.
Probably :)
Quite the collapse in the afternoon, not too sure where she goes from here, may possibly nip under 10p for a descending wedge recovery over some months but an impossible call - odd rns I thought.
Suddenly they can make a 30% cost reduction and have a plan for positive cashflow.
Shocking really!
So what exactly is the role of their NED’s?
I won’t be buying having sold in the 60’s from memory with a small loss but genuinely good luck to those stuck here.
Usual caveats
Trek
Zak Mir just like Motley Fool, a name check from either is the kiss of death.
TDT
10.28am: PureGold Mining jumps by nearly a quarter as it outlines new financing plans.
Showing up 5.88% with a 7.69% spread above on this site 5.15pm ???
Buys showing 13.7p sell 13.29p
I'm the same. Only took me buying an additional 15% monetary value of stock to do that.
Show's how far it's fallen.
Great move or money down the drain. Time will tell.
My average was 90p but not no more as I bought more today taking my average down to 55p :) I didn’t think I be buying more PUR & was prepared to loose the lot but in time I honestly think I can get my money back & more GLA we are back in the game.
so the headmaster now checking our homework has tasked us with raising at least $5m pronto ... It will be curious to see what sort of discount we have to offer to quickly find buyers for the new equity, what impact that has on our share price and if we end up higher or lower than where we were before today's news?
This Sprott guy the catalyst .
Pure Gold Mining (#PUR) – $6m additional liquidity and waiver from Sprott Resource Lending, operational turnaround plan
Over the next 6 months, at their lowest estimate.
$40M at higher estimate.
Plus further upside with Gold prices likely to rise.
Funders already in heavily & new management already making headway with a turnaround, assessments across all aspects of mine efficiency.
Once funded further and cash flow positive this could move up steadily.
Great jurisdiction.
Lucky my buy limit failed early October 2021 at 49p a low of 13p today , around 10p last week .
paddingtonbear of barcplus keeps tipping Canadian shares ?
Not enough for me. O'Dea is still there and we could be back at square one in six months time. There's still FAR too much risk involved for me. We could very easily see the mine survive but the shareholders get wiped-out.
As someone who bought at £1 in May 2020, I'll let (what remains of) my current holding ride and am chalking this one off to bad experience. Too much risk with little chance of (admittedly large) reward. There are better opportunities out there.
GLA.
It seems to me that Mark O'Dea has been given a last chance of saving his remaining pennies before it goes bust/acquired by Ashanti. It will be a pitiful attempt with lots of redundancies along the way. He won't be given even a chance(money) to properly drill 8 zone before capitulating, so he's got to work his socks off to save the business. Well deserved outcome for his constant lies( or being economical on the truth..) over the years.
If gold prices soar as the great depression looms, this will become a gold mine.
Morning.
Not sure what to make of it myself but up is up I guess.
I'm not so sure about O'Dea at the helm, Wasn't he the biggest and fattest piggy with his snout in the trough during the big BOD/management sell down?
At least they had the decency this time to issue an RNS here before doing so on the TSX.
TDT
But it looks as if they’ve had a massive rocket up their ar*es & properly sorting out the business.
Gold likely to rally strongly this year so going cash flow positive in 6 months looks very encouraging.
Then they can ramp production with Gold well over $2000/oz.
Had this on my Monitor for a while but bought in this morning for a 12 month ISA hold.
Good luck all.
Well a few days ago I said it looked to me as if we'd annoyed our main backers enough for them not to simply hand over another loan without question, but not annoyed them so much that they'd walked and refused to offer any more cash.
So, like the naughty school boy having to report to the headmaster at the end of every school day, we've now been offered a temporary reprieve with lots of strings attached...
Like a phoenix I expect but ultimately its about the pay dirt and income ....
Not going to be a cash cow by the sounds of it but sure 20p is on the cards
PureGold Director, Mark O'Dea will assume the role of interim President and Chief Executive Officer effective immediately. Troy Fierro has stepped down due to personal health issues. Mr. Fierro will remain a Director of the Company.
Too sick to do his job, but well enough to receive a pay check.
They mean business! Let us pray it all works and we have a turn round!
They said the 27th April would be the day they needed finance to stay afloat.
They're cutting it fine.
No idea but if you're here for a contrarian punt, as I assume we all must be, then 10p looks ripe for a smashed SP boot-filling by the money guys.