Member Info for Manofnomeans

Oh my. Seems I have touched a raw nerve.

@Girdz.

When a village idiot lacking self-awareness comes the smart ass it results in a strange mix of pity and offence.

"LOL" as you would say.

Ah so you do routinely verbally abuse other posters. How pathetic. Don't need your type in here. Grown ups are trying to have a discussion.

@Girdz.

Resorting to personal abuse is the type of response I'd expect from a spotty adolescent bullying school chums via
Facebook.

Do you spend much time doing that?

@Tricky.

The fact that senior management has just been radically overhauled would suggest that someone did pick up on the previous issues and decide change was needed. Maybe not as quickly as shareholders would have liked, but since there were few experienced miners at the helm during initial ramp up, that isn't too surprising. Now the management and its skill set have changed dramatically for the better and they have been honest in their criticism of the past regime. Not sure what your issue is especially as they have now indicated that there will be no dilution and profitability is only months away.

Sports Interactive (Football Manager) seem to have presence in that location and they have worked with bidstack before.

The key message from the new management is positive cash flow is a short term expectation. AISC was high under previous regime but they were mining a low yield seem with inadequate definition drilling. This led to poor mill grades.

Operations have been switched to the new East ramp leading to record grades and production in December. This has been accompanied by a range of cost cutting initiatives including contract renegotiation and elimination of a layer of middle management.

The ship is changing course..

@Graking.

I'm assuming his remark was an attempt at sarcastic humour. No serious investor in a gold mine could see those grades as anything other than stellar!

Low volumes so market still sleeping through the RNS. Expect a jump here as alarm bells go off in Toronto market later today.

Blue days coming your way.

@Tricky.

They have said not to expect major outlays on exploration this year which makes sense. They are predicting cash neutrality in Q1 and positive cash flow from Q2. Looks like corners being turned and SP should be on an upward trajectory very soon.

A very encouraging interview with the new PUR CEO goes public tomorrow. The following has been posted by a subscriber to the relevant investor website. It can be read at the CEO.Ca website.

The interview is out. Matt was tactfully critical and got plenty of nuggets out. The new management is certainly different from the previous regime, in that they are not over promising. They want to focus on getting production right. Troy stated that usually startup issues are related to mineralization, modelling, mill, etc. But in this case, it was related to lack of definition drilling, leadership, and accountability. For example, while the Mill operators were utilizing computerized prevention maintenance programs to avoid equipment downtime, the underground mine operators were not. As a consequence, the equipment failure led to downtime. This resulted in fewer tonnage in October (and the manager's subsequent unemployment). Travel restrictions limited the board from visiting the mine on a regular basis. Troy himself had only flown on site first time since pour in Sept. So they were basically going by the numbers fed to them, with promises that kept failing. Company is guiding for lots of improvements in Q1, including cash flow neutrality (positive in Q2). But this year they will likely not be expending any cash on growth. Instead, the goal is to reach stability and regain credibility as mine operators. Troy even acknowledged that the issues faced this year were avoidable - especially through something as basic as additional definition drilling. They are now executing on that plan. It is clear they are keeping a close eye on cash. 9 15 Jan 2022, 19:36
@Boreas7 Very good news! Thanks, Sho! 1 15 Jan 2022, 19:46
@Wineaux In other words @shogun_nemesis this is probably the bottom and we should keep buying. Thanks for the update. 3 15 Jan 2022, 20:29
@shogun_nemesis Thanks guys. I think the market is in "show me" mode. I had stated a few weeks ago that the stock price will probably linger around this area. Most participants are already expecting another dilution so impact from it should be limited. On the other hand, almost everybody is cautiously pragmatic - which means there is plenty of room with surprises to the upside. If the grades begin creeping up to 7 gpt@800tpd by end of Q1, then we will see a significant influx of shareholders in here - I know I will certainly be dunking in more cash. A high grade mine located in Canada with much higher production capacity and real exploration potential is worth multiples of $300M. 3 15 Jan 2022, 20:44
@zaking84 @shogun_nemesis nice work my friend! I concur!! MULTIPLES of where we are right now is coming, be patient and set some juicy limit orders! GLTA 3 15 Jan 2022, 22:34
@THEswede $PGM $DNG $BTR $ABX $NGT $GCM 4 16 Jan 2022, 00:25
@goldore @Wineaux- good to get semi confirmation that no more dilution (as many of us thought there would likely not be any). Also, there are a lot of warrants @$.85 that exp

@Oddman.

With the current state of knowledge I am.personally inclined to agree with your timeline here. I think it is a minimum of 12 months away.

As I suspected there is an operational update in the Jan RNS.

They produced 3900 ozs in for the last 3 weeks of Dec. Grade was up to 6.1g/t and yield was also trending up.

The numbers are out there and although I will need to look them up again there was a significant improvement in production, grades and yield. They are not yet where they promised, but the new management team ( including the CFO) are all experienced mining engineers. They are doing much more definition drilling which is helping them avoid mining low grade ore which was a problem under the previous leadership.

Check the RNS's as I think some of the numbers were given when they announced the leadership changes.

Interesting to see Tricky totally ignore the video in order to respin a negative perspective of the RNS. In doing so he also ignores the confirmation of a local surge in covid provided on the Canadian CEO website. (Link below).

Not sure why someone that suggests you cannot believe anything relating to AIM traded companies would invest in that market? Reality is they are subject to the same regulations as any other exchange traded company. I think that precludes lying in an RNS to manipulate a share price. If he has any evidence of this he could do us all a favour by sharing it with the LSE.

The CEO website has contributions from Red Lake locals confirming that there has been a local surge in cases. Endeavour mining have imposed the same measures as PUR to manage the short term impact.

https://ceo.ca/pgm

Excellent interview. Basically a strong suggestion that many of the big problems are behind them and PUR expect to be cash flow positive within months.

Recent increases in gold price can only help ensure profit sooner rather than later.

Overcrowding = overpromising.

Hyperactivity on the spell checker front. ;)

Galloping? =Following. :)