Firering Strategic Minerals: From explorer to producer. Watch the video 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.
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.
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.
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
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.
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 !
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.
A good uptick on the Canadian exchange, news maybe ?