We would love to hear your thoughts about our site and services, please take our survey here.
Sure, but that's what a ramp up is all about. The costs are high because the mill isn't running at full capacity. It needs to be for the costs to be worth it. Furthermore the deeper you go the higher the grades are.
I agree this share has been crap and i do not for one bit think that this is a good share. I am just stating that there are reasons to be hopeful this will turn around.
(4500 / 2 / 2) x 1.25 = $1400/oz *
USD $4500
However that is with the mill at 50% capacity and the grade at 50% of expected.
This needs a turn around and fast. Like i said, if 4500 / 2 / 2 = $1400/oz then happy days. But if it doesn't turn around.
Its curtains.
Q2 results will be telling.
That's based on 500 tpd of ore being processed in the mill. The capacity is 1000tpd.
The grade is also supposed to be closer to 7-9 g/tonne, which is double the current average.
Therefore one could assume a AISC of ($4,500 / 2 / 2) x (1.25 factor for error) = $1400/oz.
Well at least they are meeting their stated targets.
The target for Q2 was 6300 ounces of gold production and we're already there.
Now this thing needs to get cash positive, which they state will be Q3. Hopefully a rally in the gold price can assist also.
I'd expect little movement in the SP until then.
Hopefully this is now the floor.
Hopefully....
It was there in black and white in the RNS.
Share dilution was the only way to raise that much money as per the conditions of the Sprott loan. The share price will get pummelled Monday but from there it should recover... Should being the operative word.
"Per the Agreement, PureGold has agreed to immediately pursue an equity financing for net proceeds of not less than US$5 million to be received on or before May 15, 2022 ("Equity Raise")."
I'm the same. Only took me buying an additional 15% monetary value of stock to do that.
Show's how far it's fallen.
Great move or money down the drain. Time will tell.
They said the 27th April would be the day they needed finance to stay afloat.
They're cutting it fine.
Crossing the i's and dotting the t's?
Technically the share price has broken out of the downward pattern we were in for the last couple of weeks. A recovery back to 25 would be seen as needed to confirm this as a "false breakdown" and from there it should recover. A gold rally will fuel this like rocket fuel.
https://www.tradingview.com/x/U2etM3kE/
Gold help us all.
I'd imagine when financing news is announced, the reaction in the share price will be extreme.
Currently the company is being priced like an explorer with a good prospect, not a junior miner.
We could see 40p very quickly and then depending on performance some type of modest recovery. If gold rallies this will only help.
Or they're (we're) screwed.
Man I'm glad I diversify my miners.
Fair enough.
Either way 30 days from the 28th March is the 27th April.
So unless they want to cut it real close, they will have a deal announced on Tuesday that they vigorously worked on over the Easter weekend.
I saw that post on the other discussion board. Not sure I trust that he spoke with the CFO.
There's no volume. When there's no volume, clearly no one knows which way this will go.
I'd suspect an announcement regarding finance to get this going like a rocket back up to 50p.
The silence is what's killing this share.
$87m*
$4.9B of gold indicated and inferred and the market cap is now $67m.