We would love to hear your thoughts about our site and services, please take our survey here.
I'm not waiting around to find out.
It appears the chips were stacked against this one.
New investor after the debacle at Pure Gold Mining. I have certainly learned my lessons there.
I can't be bothered with the company anymore. It appears pointless. The timing of the gold price consolidation has killed this. They have too much debt and the costs of extraction are just too high.
I've taken what little I had left in this stock and put it into Galantas Gold. They have no debt and are using the revenue from their mine to expand production. Hopefully the returns from that will make up for the dramatic loss in this share.
Good luck to all those who are left.
I'm out.
WW
It's over...
$3333 is canadian dollars.
US dollars which is the main metric of comparison is approx 0.75 x that.
…approx. $2500/oz USD.
I'd say another 25-50% reduction in costs is required for this to be a workable mine. Otherwise this will be bought out for pennies on the dollar.
They also need to target grades >5g/t which is apparently where the current mine ramp depth is located.
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.
I totally get it.
But it is shown in the geological testing that the grades will improve drastically the deeper they go. That combined with more sophisticated targeting and increased mill processing, should see this be cash positive by Q4.
Now if the gold price can get off its arse, we'll see drastic re-rating if all comes true.
...around 500 in the mill. They want to average 825tpd in Q3 at a higher average grade of gold.
Revenue could jump 100% next quarter if they achieve this.
If they have truly turned this mine around and we get that information in Q3, Q4, at the same time as gold breaks out from its down trend, then Pure Gold Mining could turn into a rocket ship. It won't reach old highs anytime soon, but in a couple of years it's a possibility.
day/week/month
Take your pick :)
"They did it!
The crazy son of a b**** did it! " - The President (Independance day)
Here's hoping they actually turned this monster of a mine around and they are now producing at an effective rate!
Just so everyone knows, the image shows 41.362 kg of gold or approximately $1.985m worth.
Easy mistake. Haha
If it's the bare minimum, no one will likely be interested until Pure can prove it is cost effective to extract.
If they don't then someone will effectively pick up $3.5B worth of gold for $50m with a lot of risk.
If they can prove that it can be extracted effectively then the prospective company could pick up $3.5B worth of gold for $350m with medium risk.
Either way the prospective new buyer is getting a deal, the shareholders probably won't.
thank god.
Now how do they effectively get it out.
Man LSE needs to figure out how to fix that...
The charts say that if the share price is going to resolve itself, either higher or lower, now is the time.
https://www.tradingview.com/x/4g36hs81/
I am inclined to think that the SP will resolve itself higher, especially as gold rallies.
IMO this needs a dramatic rally in gold to recover it's shine.
I liked the new COO's interview too. He has said he has turned assets around in the past and has been brutal at Pure Gold to reduce costs. He promises positive revenue streams in third or fourth quarter and he's the type of person I'd like to believe.
The management that was in place prior were clearly naive and believed too much of their own hype about how good of an asset this is. Now the realists are in charge and this should be reflected going forward.
The board buying up is a good sign.
If they can perform a successful ramp up to full capacity in a rising gold price scenario, things could get explosive.