We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Production for July + Sept was actually less than for August. August accounts for just over half the Q3 output. They need to up their game a bit more!
What happened to the positive cash flow forecast for the third quarter mentioned in RNS and during pod cast interviews with senior staff etc...? Even at top end of production guidance at 12300 Oz Pure would have still been loosing money. Technical issues and problems with the crusher seems to have conveniently arisen just after the 12th Sept RNS for nine days as RNS today says last week in Sept back up to full production.
I make that about $3333/oz in costs ? Ouch. GLA, Dan
12 Sep the company comes out with ad-hoc production update, after strong August production and upbeat outlook. Then today Q3 total production is at the bottom of the guidance, due to problem with crusher in September. A problem the company most likely was aware of when they wrote the 12 Sep RNS. There is real no trust left.
Production for the 3rd. Q 9,041 oz. gold.
Costs per month “are expected to be in the range of $9.5 - $10.5 million per month, ”.
We’re still losing money.
TDT
"Hope he is bigging it up for a sale !"
You and me both.
TDT
Hope he is bigging it up for a sale !
That thought had occurred to me too TDT.
Hi SpaceHoppa
Thanks for posting.
Problem I have with that weasel is every time he speaks its usually followed by a placing.
Listening to him he simply comes out with the same BS as Labrenz, the deposit is world class, the people are the best, we're under valued. When he admits to the kock up during ramp up and the ore body they tackled first not having the expected grades there's no admission that their "world class team" was responsible for that kock up. More importantly the insiders continued to present a BS story all through-out that kock up, selling their own shares at or just below the peak then awarding themselves discounted shares once the share price had collapsed.
A snake oil salesman of the highest order.
TDT
As I posted I am out of Pure, however good to see the SP improving. Here is a recent video of interest.
https://www.om-partners.com/?v=FHgZC_eY_rY#video
Does anyone know if Pure golds debt is fixed rate or varialbe?
SG
will have a dramatic effect on gold prices
Sliced last top up for 9p lifted 2.45pm on way back from New Beckenham .
Relief as three buys before this lifted today and very low on available funds .
Have been trying to slice some since 12/8/22 for 8.1p increased the limit to 9p on 12/9/22. TYJ .
In profit with the two July 22 buys as well now .
A good uptick on the Canadian exchange, news maybe ?
Indeed PW, there are differing scenarios of how things will pan out from here and my being wrong will mean many other will be happy, and that's no bad thing.
You may have been too hasty, if it is breaking even cash wise it can be bought out more easily and for a higher value.
But it has been a shower of shirt investment for sure !
Regrettably I have decided to sell my investment in Pure as the company are still, using their own figures, loss making, and the drop in PoG isn't helping.
Costs are averaging $9.5m per month, production 5000 oz
5,000 x $1.650 is $8.25m
For that reason I've decided to cut my substantial losses here. I may buy back if, or once they get to steady cash positive, which is possible if POG goes back up a few $100's, and production to perhaps 6k a month
Until then I wish you all the best of luck and I hope Pure pull out some great figures for September and Q4.
It is not unreasonable to see a 20% increase in throughput to circa 1,000 tpd in the coming months and a 20% increase in head grade to 7.2 g/t. If both these targets are reached Pure should be producing somewhere in the region of 6,600 oz. of gold per month. If 4,600 oz. per month is break even then we should be seeing 2,000 oz. per month, less opex, at $1,700/oz., US$3.4m cash into the coffers (or at least paying off debt). A lot of "ifs" but 1,000 tonnes per day is their target and 7.2 g/t is well below the reserves grade.
So far so good.
TDT
Exactly. They are now breaking even.
When the grades start reaching 7-10g/t Au then this thing will start actually making money, and we know this happens the deeper they go.
With a rising gold price scenario and this mine becoming profitable again, the SP moves could be explosive.
Great August with record production. Not out of the woods but a great first step and most importantly cash has been stable for nearly 2 months. Just perhaps this is going to be the turnaround play of the year.
and the most important part, for me, was this line
'Capital and Liquidity
The Company currently has $6 million in cash. The Company's cash balance is unchanged from the previous disclosure on August 15 and has been stable since late July.'
Production Update and Outlook
Both the August ore throughput of 25,188 tonnes or 813 tonnes per day ("tpd") and gold production of 4,595 ounces represent monthly records for the Mine to date. Ore throughput of 24,052 tonnes in July was also a monthly record until being broken in August.
The increase in average ore throughput in the third quarter to date of 794 tpd compared to the second quarter average of 500 tpd has been driven primarily by improved short-range planning processes, improved mining execution, and increased mill availability. These fundamental improvements are expected to continue to support strong and increasing production going forward. The Company's near-term target is to increase ore throughput towards 1,000 tpd.
The head grade in August of 5.9 g/t Au increased 90% compared to July at 3.1 g/t Au.
Never would of thought it a couple of years ago it was 130p...
I was in in the 90's.... glad I decided to take a loss and move on....
Cheap now ..like a lot of other explorers ...miners...