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“ The strategic review process, which was initiated with the assistance of advisors, might include a potential sale or merger of the Company, sale of some or all of the PureGold Mine, or various other potential long-term financing alternatives.”
Even more important for a sustainable recovery will be the calibre of the new management running ops. and their near term achievements to begin restoring confidence after the utter 'horlicks' the outgoing lot made of it.
It'll take some time to remedy Pure's much tarnished image over the past year or two but a 'bull' run in the AU price will certainly help, agreed - sasa.
IMO this needs a dramatic rally in gold to recover it's shine.
Surely encouraging that Anglo Gold took up their rights.
The rich grades previously reported are still there. Reasonable chance share will recover some value in time.
Just wondering if some of the contractors sold to pay debts, not sure if there was a time limit on the selling of shares.
seems bad news from the mediocre management at Pure.
Whilst nothing new is known, the SP action would suggest the shower in charge
might still not have gotten a grip on the mining ops !
Aren't they being taken to Court ?
Between Anon mostly
ProphetWarning
Trades on the TSX don't appear to suggest that. The 15.8m dump wasn't done in several of trades but a load of trades.
Problem is we've had this sort of thing with Pure before. I guess what's actually going on will all come out eventually.
TDT
I suspect a transfer between someone's account.
See the opening futher price drop as a good buying opportunity. Can't see that the 35.45m stock options of $ .275 would drop the price as much as it did. They also expire in 5 years time. But the markets are still unstable so who knows !
Forgot to add, whatever it is that is going on over there we will no doubt be the last to know.
TDT
Anybody got any ideas what's going on across in Canada? Pure dropped 31.9% on Friday to close at CAD$0.16 which is 10p on 15.8m volume. It can't just be market jitters especially when you consider Pure is a gold miner (of sorts) and gold miners are supposed to be a safe haven during times of "jitter".
TDT
what do you reckon about this share mate, why is that going down? better to hold it or not?
Bought the 9th June slice back for 15.5p lifted 8.50am .
19 to 15.5 = 18.5% ..4 work days .
Just like the good old days, we are heavily leveraged to the gold price until we have good productivity IMO.
Once again the BOD is presiding over a collapse in the share price and an erosion in confidence. That's an extraordinary achievement BOD. Not only are you fecking up at an operational level but your fecking up commercially as well and not just once either.
Greedy piglets could do a better job than this bunch of hapless feck wits.
TDT
whats going on here? reads positive but lots of sells (of course matched with buys) but it creates a strange impression
Yep, they're at it again. Rewarded for failure, rewarded, for just turning up, rewarded on top of their bloated salaries. What a bunch of unprincipled bunts.
TDT
have awarded themselves another 5% of the company for no risk to themselves.
June 13, 2022
the Board of Directors has approved the grant of an aggregate of 35,450,000 stock options for incentive and operational retention purposes, to senior mine site personnel, the executive management team, the Board of Directors and an outside technical advisor to the Company, pursuant to its Stock Option Plan. The stock options have an exercise price of $0.275 and expire after five years.
This news Monday 6th June 2022
Director dealings: Nine Pure Gold board members buy shares.
Sold half for 19p lifted 11.31am on way to Charing X.
Appears I did not post the buy 26/4/22 for 12.5p .
less then two months not bad .
that'll be the breather.
what dilution did the private placement have? 20%? so maybe we have a price equivalent of 20p?
In less than 6 years, PureGold has defined a 2.1-million-ounce Indicated Resource (7.2Mt at 8.9 g/t gold) and a 0.5-million-ounce Inferred Resource (1.9Mt at 7.7g/t gold). Mineral resources are inclusive of Probable Mineral Reserves of 1 million ounces of gold grading 9g/t.1
And we’ve only just begun.
Most notably, PureGold has yet to expand its exploration and drilling program to depth. Why? Because we’ve had so much success increasing the size and scale of the gold system outside of our Phase One mine footprint all along our 7-kilometre-long Gold Corridor.
And yet, a single high-grade pierce point anchors the deposit at a depth of approximately 2 kilometres, with similar geology to the main deposit, showcasing our belief that there is significant potential to expand the high-grade gold deposit to depth. And we know that gold deposits like this often continue down for kilometres underground.7 The Red Lake Mine Complex to the north of us is currently being mined at approximately twice the depth (2.5 kilometres) of our established gold reserves.8
We are now fully Funded to go into profitability in Q3.
Market is starting to look forward now.
60p before funding issues arose, new management in place, reducing overheads, the market likes this.