Pure Gold Mining Inc (fka LRTNF)

[Renee]

LRTNF: inactive security. FINRA deleted symbol:

https://otce.finra.org/otce/dailyList?viewType=Deletions

[TRUSTUNITS1000000]

Knew this company from the 80 ssssss

[TRUSTUNITS1000000]

Is this the company from the 80 sssssss

[TRUSTUNITS1000000]

I bought this in the 80 sssssssss

[wshaw14]

Lol, not hanging in there did not fare much better. Selling shares for a penny or .001 did not pull anyone out of the fire. Win some and lose some. Just win more than one loses is the name of the game.

[molee]

Hang in there . Gonna be fine .... NOT ! ! !

04/18/2023 14:25:06 EDT 0.00001 10000

[Brokemillwright31]

Well, I think this little $200 gamble went bust. Owell, now I just have a worthless ticker on my position list

[wshaw14]

Pure Gold Mining Appoints Chief Administrative Officer; Announces Director Resignations

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/776-tsx-venture/pgm/138828-puregold-appoints-chief-administrative-officer-announces-director-resignations.html

[molee]

PureGold Announces Management Departures :

VANCOUVER, British Columbia, March 17, 2023 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (NEX:PGM.H) (“PureGold” or the “Company”) announces today the departures of Mark O’Dea, President & CEO; Phil Smerchanski, VP Exploration & Technical Services; Chris Lee, Chief Geoscientist; and Adrian O’Brien, Director Marketing and Communications, effective immediately. The Company also announces the departures of Chris Haubrich, VP Business Development & CFO and Ashley Kates, VP Finance & Corporate Secretary, effective March 31, 2023.

The Company would like to thank Mark, Phil, Chris, Adrian, Chris, and Ashley for their leadership, dedication, and commitment and wishes them all the very best in their future endeavours.

Well , I would say " Don't let the door hit you in the ass like you did to us " .

https://finance.yahoo.com/news/puregold-announces-management-departures-000000150.html

[wshaw14]

PureGold Provides Update on CCAA Proceedings; Announces Management Departures
https://finance.yahoo.com/news/puregold-provides-ccaa-proceedings-announces-113000229.html

[wshaw14]

Thanks for the info.

[nunaka]

PureGold files Third Quarter 2022 Financials Provides LOM Plan and Technical Report Update
November 14, 2022
VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), today filed Third Quarter 2022 summary financial and operating results. The Company’s unaudited condensed interim financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2022, will be available for download on SEDAR and on the Company’s website. All amounts are expressed in Canadian dollars (“$”), unless otherwise noted.

Following the decision to place the PureGold Mine on care and maintenance and considering the time constraints associated with the Companies’ Creditors Arrangement Act (“CCAA”) proceedings, the Company no longer expects to release a Pre-Feasibility Study (“PFS”) Technical Report in the fourth quarter of 2022 as has been previously disclosed. The Company continues to evaluate several alternatives to advance an updated Life-of-mine Plan (“LOM Plan”) for the PureGold Mine which may include the completion of a PFS or similar study at a later date.

[nunaka]

I'd accept a miracle.. Agree selling for a cent is pointless.

[wshaw14]

I dont expect patience will start or stop anything. I however have over the years seen stock positions that folks have sold off for next to nothing rise from the ashes. Not saying that will happen here, but rather than sell for a cent, I will take my risk and add a few more cents to the pot. To each his own.

[molee]

Patience didn't stop this : https://www.otcmarkets.com/stock/LRTNF/disclosure .

[wshaw14]

A little more patience is going to be required, but IMHO something will break soon.

[wshaw14]

https://finance.yahoo.com/news/puregold-files-third-quarter-2022-071500852.html

[Brokemillwright]

VANCOUVER, British Columbia, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (NEX:PGM.H, LSE:PUR) (the “Company”) announces that the Supreme Court of British Columbia (the “Court”), on application of the Company in its proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”), has granted a Sales and Investment Solicitation Process Order (the “SISP Order”), among other relief.

The SISP Order, among other things: (i) approves a sales and investment solicitation process for all the assets, undertakings and property of the Company, including the Company’s Mine project located in Ontario (the “SISP”) and (ii) approves of the engagement of National Bank Financial Inc. (“NBF”) as the Company’s sales agent for the purposes of the SISP.

In order to participate in the SISP and obtain access to a virtual data room and other information, interested parties must comply with the terms and conditions set forth in the SISP Order and other related documents, which are available on the website of KSV Restructuring Inc., the Court-appointed CCAA monitor, at https://www.ksvadvisory.com/experience/case/pure-gold-. Parties interested in participating in the SISP should contact Morten Eisenhardt and Andrew Armstrong at NBF at the following addresses: [e-mail] and [e-mail].

In addition to the SISP Order, the Court also granted orders:

(a)   extending the stay of proceedings granted under the CCAA until January 27, 2023;

(b)  authorizing the Company to borrow additional funds under an interim financing credit facility from its lending partner, Sprott Private Resource Lending II (Collector), LP, in order to meet the Company’s immediate cash needs for the continuation of its business activities and preservation of its property;

(c)   approving of a Key Employee Retention Plan which provides for, among other things, payments to key employees of the Company based on defined timelines and metrics connected to the SISP and CCAA process; and

(d)   restating and amending the Initial Order of the Court granted on October 31, 2022.

About Pure Gold Mining Inc.
The Company is a Canadian gold mining company, located in Red Lake, Ontario, Canada. The Company owns and operates the Company’s Mine, which began gold production in 2021 after the successful construction of an 800 tpd underground mine and processing facility. The Company’s Mine is centered on a forty-seven square kilometre property with significant discovery potential.

Additional information about the Company and its activities may be found on the Company’s website at www.puregoldmining.ca and under the Company’s profile at www.sedar.com

ON BEHALF OF THE BOARD
"Mark O’Dea"                        
Mark O’Dea, President & CEO

Investor inquiries:
Adrian O’Brien, Director, Marketing and Communications
Tel: [phone]
[e-mail]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including, but not limited to statements relating to the SISP and the outcome thereof; the expected outcome, timing and completion of the CCAA proceedings; risks related to the CCAA proceedings and the impact of the same on the Company’s operations; and expectations management will remain responsible for the day-to-day operations, under the general oversight of the Monitor. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the CCAA proceedings and the impact of the same on the Company’s operations; securing financing or undertaking a restructuring transaction and the timing thereof; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration and development activities generally; delays in permitting; possible claims against the Company; the timing of future economic studies; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 30, 2022 in the section entitled "Risk Factors", under the Company’s SEDAR profile at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.


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Recommended Reading

November 02, 2022 06:30 ET

Source:Pure Gold Mining Inc

PureGold Announces Transfer of Listing from the TSX Venture Exchange to the NEX

VANCOUVER, British Columbia, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”) announces that as a result of the Company receiving protection...

October 31, 2022 17:09 ET

Source:Pure Gold Mining Inc

PureGold Obtains CCAA Protection

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM,...

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[wshaw14]

I think them selling discounted shares bringing the OS to a billion was a clue. I am with you however I did buy a bunch of shares (gamble). There is value there, it just has to be unlocked . My gamble is that someone will want it.

[Brokemillwright]

Appreciate it, millwrights don't build houses tho ;) we do have around a 5 year cycle in the refinaries due to equipment rebuilds, tho most places had been pushing them off the last few years. You seem to have a good grasp on things, there is a YouTube channel called Ron Walker who seems to have been calling most of the sp500 dips and rallies that you might find interesting

[Lowjack]

With the Macro view and what occurs when the FED raises interest rates when the economy has not had a chance to repair itself. Same setup as 2008, any company that was not mindful of debt to equity position of >20% and did not maintain a liquidity cushion was in danger. This same principal should be applied to personal finances as well. The closer you get to the end of the business cycle(usually 7 years) you better be paid off and reducing expenses or you'll be in trouble. Now is not yet the time to be buying assets as the price is still elevated.

Yes I read the financials, the question is can they get more for the properties than what they owe in debt. With the current financing environment and liquidity crunch, there is a short list of buyers and none are looking to overpay. Lenders may also just declare them in default and take the property.

Being a millwright you should be aware of the switch from building homes to building retail(remodel) that occurs in this period(usually). I suspect that this will not be as smooth a transition as in past cycles. Plenty of disaster rebuilding to do if they can find the materials. Might be why Industrials have been slightly stronger as of late. We need to have a solution to the energy problem by Feb. or inflation will only get worse.

[Brokemillwright]

Looked thru the thread and still don't see how your predicted this to happen to puregold, tho I'll guess you know how to read the financials. I did see the other company you mentioned on there. I bought a bit more here as a gamble to see what happens. maybe it'll pan out

[Brokemillwright]

I'll give it a browse, thank you

[Lowjack]

Here is a view of how I saw it. Read the entire board.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165296083

[Lowjack]

Macro Bear Market! We still have not cleared the last cycles excesses.
Housing, Autos, Corporate bonds, Government bonds, all need capitulation still.

This is why capital is currently hard to come by. Loan loss provisioning is rising which means the banks know what is coming.

Just keep an eye out for the consolidation as the strong resource plays pick up(through) the distressed assets.

https://schrts.co/fGxWArrV

[Brokemillwright]

Thank you for the info. When you say bear market, your referencing just the metals or market in general? Some podcasts I listen too are thinking mid next year commodies take off once the recession starts.

[ernie44]

SF sold a pile at 2 cents Canadian

All interested parties are invited to listen to Stifel (SF)Chairman and CEO Ronald J. Kruszewski by dialing [phone] and referencing participant ID 8617839.

[Brokemillwright]

You called another one.... Pm me some winners and ways to learn what you know lol

[Brokemillwright]

Luckily I had $100 in it, gambling with some more pocket change now after 80% drop

[molee]

Looks like the "poop" has officially hit the fan ...

Shoulda bailed out of this train wreck a long time ago ...

Good luck to those staying for a miracle .

[reko01]

A real gold producing company and stock is at .10 cents. Unreal. There are exploration companies out there with reserves in the ground with a much higher market cap and these guys are pouring every week. If your not in, should keep an eye on this one. When the true indication of what they have in the ground comes out this goes back over a buck. And that will be announced in 4th quarter. JMO

[wshaw14]

https://www.proactiveinvestors.com/companies/news/994690/pure-gold-mining-achieves-3q-gold-production-guidance-at-ontario-puregold-mine-reveals-4q-outlook-994690.html

[wshaw14]

I re-read your post, and you are correct on that point.

[Lowjack]

That's not what I said! Yes you can survive, but you are wasting the resources! Don't be like China! Of the 50% profit 1/3 explore, 1/3 cash, 1/3 divi. This will also help if there is a price drop on your product. Also don't forget to stack 20%!

[wshaw14]

Lol, I dont think any of the miners need the cost of gold to be 2x theircost of production to survive. LRTNF just needs to get their aisc down to between $900-$1,000 and that can be done very easily with more production at higher grades. They are not in doomsday territory imho.

[Lowjack]

Gonna need to dial that expenditure back before they implode! You can't be wasting that gold just to stay in business! You need to be making double your expenditures! So if your all in sustained cost is $1600+, you need $3200 gold or your tossing your countries resources down the drain!

[Catchnrel]

Well, a step or two in the right direction. Grade needs to keep improving, but I guess I can get off the damn ledge for a while.

[wshaw14]

PureGold Announces Record Gold Production in August; Reaffirms Q3 2022 Guidance
https://www.puregoldmining.ca/puregold-announces-record-gold-production-in-august-reaffirms-q3-2022-guidance/

[wshaw14]

https://www.puregoldmining.ca/puregold-announces-record-gold-production-in-august-reaffirms-q3-2022-guidance/

[wshaw14]

Pretty pitiful Q2, but not unexpected. Q3 should, and better be much much better.
With nearly a billion shares outstanding, I expect when the turnaround does come there will be a 4 for one Reverse split. Many folks (including me) will not invest in companies with a billion or billions of shares outstanding.

News
PureGold Provides Operations Update and Reports Second Quarter 2022 Financial and Operating Results
August 15, 2022
VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), today provided an operational update and outlook as well as financial results for the second quarter of 2022. PureGold owns and operates the PureGold Mine near Red Lake, Ontario.

So far during the third quarter, both costs and revenues are trending in the right direction on a sequential quarterly basis, due to the groundwork laid in the first and second quarters. As a result, the Company forecasts the Mine to deliver positive site-level cash flow in the third quarter, achieving a previously stated objective.

Moreover, a team of multidisciplinary consultants led by SRK Consulting (Canada) Inc. (“SRK”) remains on track to complete an updated Life of Mine plan and a new Pre-Feasibility Study (“PFS”) in Q4 2022, based on the recently announced updated Mineral Resource Estimate (“Updated MRE”). The Company is working collaboratively with SRK to ensure a smooth integration beginning in 2023 of the new Life of Mine plan into the Mine’s existing planning system.

Terry Smith, PureGold Chief Operating Officer, stated: “Over the last six months we have advanced in four key areas to expedite our future success. We have a solid resource model we can use for long-term planning; a revamped short-term planning process to drive execution; a lower operating cost base to generate cash flow; and most importantly, an emerging culture of safety and performance.”

“Mid-way through the third quarter, we are combining these elements into stronger gold production, most notably with a year-to-date record gold pour just last week. We hope to break that record again very soon, and that the SRK resource model will help light the way to grow production in our upcoming Pre-Feasibility Study.”

The Company will host a conference call and webcast Tuesday August 16th at 9:00am Pacific Time (12:00pm Eastern Time) to discuss the Updated MRE and operational update and outlook. Details are provided at the end of this news release.

Operations Update & Outlook

The Company is expecting a significant improvement in production in the third quarter compared to either the first quarter or the second quarter of the year as the benefits of investments made in operational improvements begin to pay off. These improvements include a relentless commitment to safety, cost rationalization, improved integration of mine planning, geology and definition drilling leading to more reliable forecasts, improved mining execution. All of this is supported by the establishment of a high-confidence drilled inventory well ahead of active production areas.

The new SRK Resource model highlights the higher grade and less structurally complex Austin and South Austin Zones as compared to McVeigh. Both Austin and South Austin will contribute approximately 65% to overall Q3 production, as compared to approximately 30% since production began. We expect higher overall production levels as Austin and South Austin contribute still more and McVeigh contributes less.

Production Outlook

Ore throughput for the third quarter is forecast to average between 775–875 tpd at 4.0–5.0 g/t gold. Both grade and ore throughput are forecast to trend positively throughout the quarter. The end of July and beginning of August have been and continue to be, as of the date of this press release, particularly strong from both throughput and grade perspectives, leading to the previously noted record weekly gold pour last week.

Cost Update

Site-level operating plus sustaining capital costs are expected to be in the range of $9.5 – $10.5 million per month for the third quarter. Compared to the first quarter of 2021, this represents an absolute reduction in costs of approximately 25% and a cost-per-tonne reduction of approximately 50%. Our most significant cost is labour, including accommodations and travel. We expect to reduce this cost in 2023 following the installation of a workforce camp, which is currently in progress on our mine property.

In addition to the savings noted above, further cost savings are expected to be captured in the next 12 months. Key opportunity areas include replacing rentals and contractors with more permanent solutions, and completing key infrastructure upgrades including the new camp, new electric compressors, and a new mine air heater. All these projects are currently underway. The Company is targeting additional savings equating to $1 million per month (approximately 10%) by the end of 2022. Further savings opportunities are expected to be identified and incorporated into the Updated Life of Mine plan.

Pre-Feasibility Study, Life of Mine Plan and Technical Report Update

On August 10, 2022, PureGold announced an Updated MRE for the PureGold Mine which included 1.65 million ounces of gold at 7.4 g/t contained in 6.9 million tonnes in the Indicated category and 0.37 million ounces of gold at 6.3 g/t contained in 1.8 million tonnes in the Inferred category at a cutoff grade of 3.38 g/t.

Notably, the Updated MRE has already been constrained by the Reasonable Prospects for Eventual Economic Extraction test using Minable Stope Optimizer shapes. Due in part to this, the Company expects that its forthcoming PFS will show a higher conversion ratio of Indicated Resource to Probable Reserves compared with the Company’s previous Life of Mine plans.

Second Quarter 2022 Operating and Financial Results

PureGold produced less gold in the second quarter of 2022 than the second quarter of 2021 due in part to significant cash-preservation measures that the Company introduced while negotiating the financing agreements announced in May 2022. These measures were successful, but their implementation led to unavoidable business interruptions. The measures included:

Operating the mill for only 50% of the quarter;
Reducing the workforce;
Pausing main ramp development;
Rationalizing the mining fleet; and
Demobilizing contractors and rental equipment.
Another factor affecting second quarter production was significant turnover and workforce shortages in key areas like longhole drilling, mobile mechanics, and technical staff.

Beyond these factors, the Company completed a complete overhaul of the mine planning process. Prior to this overhaul, execution diverged from planning, with grades significantly below plan. PureGold was mining small and/or low-grade stopes, was incorporating significant dilution into stope designs, and was overly optimistic about planned rates and productivities.

The planning process now incorporates the latest infill drilling results, deep geological review of potential mining fronts, economic analysis beyond cut-off grade, access and blasting considerations, and mine productivities based on ventilation, equipment type, and location, among other things.

A summary of the highlights for the three and six months ended June 30, 2022, and subsequent to date for the Company and its 100% owned PureGold Mine (“PureGold Mine” or the “Mine”) are as follows:

Gold Production

Gold production for Q2 2022 was 3,509 ounces, and 8,244 ounces for H1 2022.
Gold sold for Q2 2022 was 3,500 ounces, and 11,375 ounces for H1 2022.
Processing

For Q2 2022, the PureGold Mine processed a total of 45,420 tonnes of ore, or an average of 500 tpd, at an average head grade of 2.40 grams of gold per tonne of ore (“g/t Au”) and achieved an average recovery of 93.2%.
For H1 2022, the PureGold Mine processed a total of 96,312 tonnes of ore, or an average of 535 tpd, at an average head grade of 2.66 grams of gold per tonne of ore (“g/t Au”) and achieved an average recovery of 94.2%.
In April 2022, we transitioned to a campaign milling schedule, which saw the mill operating for two out of every four weeks temporarily to save costs by aligning with near-term mine production forecasts. The mill returned to a full-time schedule in July 2022.
Mining

Mining totaled 40,551 tonnes of ore or an average of 445 tpd for Q2 2022.
For H1 2022, mining totaled 85,267 tonnes of ore or an average 471 tpd.
In support of a mining improvement plan, during Q2 2022 we enhanced mobile equipment availability; transitioned to efficient sill mining; mined a higher proportion and greater quantity of high-grade, high-confidence stopes; upgraded basic mine services including ventilation, electrical, compressed air, and water management, and most importantly continued improving overall mine planning integration.
We achieved an approximate 30% reduction in costs in Q2 2022 compared with Q1 2022, the result of workforce reductions, rationalized equipment and optimized underground development initiatives.
We continued to hold off on development of the Main Ramp during Q2, 2022 after having temporarily paused it in Q1, 2022, in order to reallocate resources to near-term production and development areas. The Main Ramp is at a depth of approximately 525 metres below surface, which is several hundred metres below near-term mining areas; as such, temporarily pausing ramp development will not constrain ore mining or definition drilling in the near-term.
Financial Results

Mine operating loss of $18.5 million and $41.9 million for Q2, 2022 and H1, 2022, respectively.
Revenue, net of refining costs, was $8.5 million and $27.0 million for Q2, 2022 and H1, 2022, respectively.
Net loss and comprehensive loss totaled $20.8 million and $42.2 million for Q2, 2022 and H1, 2022, respectively.
Basic and diluted loss per share for Q2, 2022 and H1, 2022 of $0.04 and $0.08, respectively.
Cash balance as of June 30, 2022 of $12.7 million
Current assets as of June 30, 2022 of $23.2 million
Current liabilities as of June 30, 2022 of $47.7 million
Total long term debt as of June 30, 2022 of $106.1 million

Q2 2022 Q2 2021 Change H1 2022 H1 2021 Change
Operating data
Ore mined (tonnes) 40,551 36,828 10% 85,267 68,899 23%
Waste mined (tonnes) 34,094 131,887 -74% 123,400 235,116 -47%
Total mined (tonnes) 74,645 168,715 -55% 208,667 304,015 -31%
Ore milled (tonnes) 45,420 46,312 -2% 96,312 94,727 2%
Average head grade (grams per tonne gold) 2.40 4.20 -42% 2.66 3.57 -25%
Recovery (%) 93.2 95.7 — 94.2 95.3 —
Gold produced (ounces) 3,509 5,997 -42% 8,244 10,075 -18%
Gold sold (ounces) 3,500 6,832 -49% 11,375 9,756 16%
Average US$ Price realized $1,902 $1,796 6% $1,864 $1,789 6%
Average C$ Price realized $2,438 $2,211 10% $2,376 $2,219 7%
Financial data
Revenue1 $8,534,000 $15,109,000 -43% $27,027,000 $21,650,000 24%
Mine operating loss1 $(18,528,000) $(13,169,000) 40% $(41,924,000) $(28,755,000) 45%
Net loss1 $(20,757,000) $(15,840,000) 31% $(42,225,000) $(32,627,000) 29%
As at June 30, 2022 As at December 31, 2021
Long term debt 106,111,000 115,204,000 -8%
Current assets 23,233,000 21,297,000 8%
Current liabilities 47,753,000 43,277,000 10

[wshaw14]

https://www.puregoldmining.ca/puregold-announces-updated-mineral-resource-estimate-for-puregold-mine/

[wshaw14]

https://www.puregoldmining.ca/wp-content/uploads/2022/08/Puregold-Corp-Deck-Aug-10-2022-v02.pdf

[wshaw14]

Wow, this thing just keeps dropping. No news in quite a while./

[molee]

I remember "advise" from this board at the beginning of this year .....

"just keep buyin' and relax" .

How's that workin' out ?

[wshaw14]

Expect a Reverse split soon. JMHO Every share that they add at this point is poison to the desirability of their stock.. I expect a 4/1 or 5/1. I am still holding all of my shares at this point.

[molee]

They're doing such a GREAT job , let's give them options :

"VANCOUVER, British Columbia, June 13, 2022 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), announces that the Board of Directors has approved the grant of an aggregate of 35,450,000 stock options for incentive and operational retention purposes, to senior mine site personnel, the executive management team, the Board of Directors and an outside technical advisor to the Company, pursuant to its Stock Option Plan. The stock options have an exercise price of $0.275 and expire after five years."

[douginil]

Thanks for posting the link. Looks like this will pay off eventually

[wshaw14]

06.01.2022 Presentation: https://www.puregoldmining.ca/wp-content/uploads/2022/06/Puregold-Update-June-1-2022-Investor-Deck-Final-B.pdf

[gsfl]

Currently I’m sitting on a 4.96% profit and I think downside risk is mitigated with the financing out of the way. Now they need to make the production profitable and Gold needs to break out to new all time highs (first quarter 2023)

[wshaw14]

What new development are you referring to? Is it the billion shares and warrants? I truly expect a reverse split to be next on the agenda. I am still holding, but if things dont improve drastically I will be dumping them right after the 1st of next year. I can use the loss to my benefit in 2023.