Interesting5 Nov 2021 19:42
Copied from the other place from a poster called Roberstronghand.
I have no idea of the veracity of the post & and am conscious that Pure directors are expert rampers.
However it reads positively.
Source: CEO.ca PGM.v board:
I spoke with IR. Here is some information that will help folks here. The grades hadn’t matched the feasibility study because sufficient stope feed was not available to feed the mill. But from now till Feb, the mill is operating at 700 tpd resulting in 7 gpt...in line with the fs. At this rate, they would be producing 50k oz/year, but once they ramp up to 1000 tpd, the production will increase to 80k oz/year as planned. Note that the mill can already operate at these levels, just need more ore fed to it. So @Boreas7 AISC will drop as they begin producing more gold, which is expected to be at $1200 in 2022 before precipitously dropping below $700 in 2023 and beyond. IR was extremely confident in the skill sets of the new mine manager. The previous mine manager’s leave was unplanned and unexpected, he left on his own accord for retirement.
@goldore As for the difference between poured vs. produced, basically poured can include the accumulated gold from the previous cycle. While "produced" is the correct representative of present production. IR apologized for poor wording. I did let IR know communication so far has been poor.
The upcoming catalyst is the resource update which will include, for the first time, drill results from 50,000 meters of drilling. This is all new surface drilling that had not been part of the current mine plan. So it will significantly improve the project economics and NPV. Besides that, financial report should be coming out mid November...this is not a catalyst per se but good to keep in mind. The company will begin engaging in interviews early 2022. I recommended they get on @CruxInvestor, to which the IR agreed. The company has now reached depths at which they can begin drilling the 8 Zone. This announcement should be made soon. Once the drill results begin pouring out, say middle of next year, we will have no where to go but up.
We all have two big concerns: does the grade match the mine plan? And is the gold mineable profitably? So in light of the above updates, please note that grades are now matching the fs as of November. Furthermore, while many are wary of this turning into another Battle North, the IR wants us to know that the geology of the deposit and its structure are different. Madsen was a past producing mine that operated for 30 years with no history of issues. This resource is well defined due to the unprecedented one million meters of historical drilling. We should all bear in mind that before the discovery of HGZ, the Red Lake Mine was producing 50k oz/yr. This jumped to 500k/yr oz with HGZ!! We have the same structure at depth, and in many instances the grades are
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