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"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.

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.