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Just remember when the DOW crashes, Jan/Feb into March 14th everything will crash with it. Be prepared by either selling and then buying again or holding through the correction. After March 14th a new two year bull market begins for the metals and it will be spectacular :)
Better results today . $LRTNF at .82 ... Like you said ...
I have difficulty being patient with Big Bullion Banks big "hammer" always looming nearby .
Stay safe >> M
It's coming. My producing gold stocks are on fire so just be patient.
And of course the stock doesn't budge ... smh .
BANG !!! $1853 as wee "speak" ...
Thanks . Looks like we may see that $1835 this week ... or today ...
Stay safe >> M
Gold needs to break 1835 and close above it for the week before all the gold miners will break out. 1835 is the level that needs to fall and the miners will take off. Saying that, I have a few that have already broke out of their slump and have moved very well the past few days.
Armstrong says we will have one more low in gold, probably fourth quarter of 2022 then it's going to minimum 3500 with the maximum 6000
Disappointed that these gold mining stocks didn't mimic gold's remarkable move the end of this week .
Always has me scratching my head when this occurs . Any ideas ?
Stay safe >> M
Share price will come in due time. This one is acting just like nearly every gold mine investment I have made. They take time and nearly never go as scheduled. Pure gold is finally showing great improvement q over q. I believe it has finally turned the corner.
I will remain patient just as I have in past. Investments that would have been easy to sour on and dump I have held and made very good returns.
Now all we need to hit our share price bonanza is to sho profitability so no more dilution.
PureGold Intersects 55.4 g/t Gold over 5.0 Metres and 14.5 g/t Gold over 13.2 Metres
Some of PureGold’s best drill results of 2021 currently being integrated into near-term mine plan .
https://www.otcmarkets.com/stock/LRTNF/news/story?e&id=2034326
Stay safe >> M
Steady improvement each quarter. Looking good to me.
PureGold Announces Third Quarter 2021 Production Results, Mine Leadership Update .
https://www.otcmarkets.com/stock/LRTNF/news/story?e&id=2032646
If the big bullion banks would stop selling paper gold/silver short everyday these stocks would recover .
Stay safe >> M
Pure Gold has taken some patience, but I expect it will start paying off shortly.
Can you imagine what these gold stocks are going to do by 2024 if Martin Armstrong is correct about where Gold is going. The metals will now begin a new uptrend into 2024... Of course it will be violent but when are the metals not? Hang on to your shares boys and girls and watch the fireworks.
As I said it would :)
Pure gold starting to find it's way back to a buck ?
Stay safe >> M
I am still buyi Way too buying a few at a time. Way to good a company to be selling in this range.
<According to Stifel, Pure Gold, on the back of the recently completed C$23 million equity financing, has significantly improved its balance sheet. Based on Stifle’s estimates, Pure Gold will remain compliant with its debt covenants as long as gold prices remain above $1,400 an ounce, with spot prices currently at $1,750.>
Bought deal at .83 USD . We're at .65 ... Duh ...
https://finance.yahoo.com/news/pure-gold-mining-inc-closes-130300775.html
That would be nice to see . Strange how this was trading just over a dollar yesterday .
Usually the "market" knows about these placements before the public .
Stay safe >> M
Financing always sucks the wind out of the share price but at least it wasn't at a lower price. In the long run this will fade and we will, if there are no more surprises, be seeing that price target(1.36) met in before 2022. IMO
Pure Gold Mining Inc. Enters Into a Bought Deal Agreement for Gross Proceeds of C$20,000,400
Well , that's a kick in the nuts ...
https://finance.yahoo.com/news/pure-gold-mining-inc-enters-113100733.html
Nearly back to a dollar a share ... Let's GO little fella ...
Stay safe >> M
I agree, and once again added a few more.
I think we are in the beginning of a mind blowing trend. :) hang tight!
I think this is great news and bodes well for the future price of this stock. The only real potential problem I see for big money investors is the share count. It's not terrible but it's high. I'm satisfied with their progress and my entry point and look forward to a nice profit over the next 6 - 9 months
How long before they let these mining stocks up off the mat ??
Stay safe >> M
PUREGOLD REPORTS STRONG START TO THIRD QUARTER AND PROVIDES OUTLOOK FOR THE SECOND HALF OF 2021
August 13, 2021
VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to provide an operations update for the month of July and an outlook for the second half (“H2”) of 2021 at its high-grade PureGold Mine in Red Lake, Ontario.
July Production and H2 2021 Outlook Highlights
Daily throughput averaged 703 tpd for the month of July, a 38% improvement compared to the second quarter average. The strong performance in July which led to the declaration of commercial production as of August 1 is attributed to significantly improved stope availability and inventory as a result of investments in development and infill drilling made in the first six months of the year. Average throughput is expected to continue to increase steadily up to and beyond nameplate capacity of 800 tpd for the balance of 2021.
Excellent mining rates including a new single-day production record as unreconciled mined ore production averaged 849 tpd from the Main and East Ramps for the month, including a peak single day production record of over 1,450 tonnes of high-grade ore brought to surface in a span of 24 hours, reaffirming the strong potential to exceed 800 tonnes per day sustainably by the end of the year.
Head grades achieved were in line with plan, averaging 5.6 g/t Au from all ore processed during the month of July, in line with plan for the month which was expected to be the lightest month from a grade perspective for H2 2021. Over the last two weeks of July, mill head grades averaged 6.9 g/t Au with mine feed coming from multiple headings, including both longhole and mechanized cut and fill stopes. As production transitions to higher grade stopes in Q3 and Q4, head grades are expected to continue to improve for the balance of the year along with increasing throughput.
Steady progress on ramp development, with daily ramp development rates for the Main and East Ramps averaging 5.4 metres and 3.7 metres per day for July, respectively. With a dedicated contract crew now focused exclusively on the Main Ramp as of July, capital development will continue to be a priority for the balance of 2021 to ensure continued stope availability and flexibility and to accelerate drilling and access to 8 Zone. Once sufficiently ahead of mine production, capital development is expected to be reduced in 2022 and all-in sustaining costs1 (“AISC”) are expected to fall accordingly.
Gold production achieved a new monthly record in July of approximately 3,730 ounces of gold produced. Mill recoveries averaged 96.0% for the month.2
Four of six CIP interstage screens have been installed with the remaining two expected to be installed in August. The trommel screen for the SAG discharge is on site and expected to be operational by September. The screens are expected to increase mill capacity in excess of nameplate 800 tpd once commissioned.
Guidance for H2 2021
Gold production for H2 2021, inclusive of July, is expected to be in the range of 27 – 32 koz Au with grades and throughputs increasing steadily toward the end of the year. Cash Costs1 for the fourth quarter, the first full quarter of commercial production, are expected to be in the range of US$1,025 – $1,125 per ounce. AISC1 for the fourth quarter is expected to be in the range of US$1,600 – $1,750 per ounce. Looking forward into 2022, production is expected to increase and Cash Costs and AISC are expected to fall significantly driven by higher grades and throughput coupled with decreased investment in capital development and other sustaining capital programs. This dynamic of increasing production and falling costs is expected to continue throughout 2022 and beyond as grades generally improve as mining progresses deeper and toward the 8 Zone as outlined in the 2019 Feasibility Study.3
Darin Labrenz, President & CEO of PureGold, commented, “I am proud of the consistent progress we’ve made and of the key milestones achieved in ramping up the PureGold Mine in 2021, highlighted by the recent declaration of commercial production as of August 1, 2021. In July, with the new East Portal producing ore at full capacity for the first time, we got a glimpse of what the PureGold Mine is capable of, setting new monthly and daily records for both milled and mined tonnage, respectively, and demonstrating the strong potential to push beyond 800 tpd on a sustainable basis by the end of this year. As grades continue to improve and throughput continues to increase throughout the year, we look forward to strong and steadily improving production metrics for the balance of the year and into 2022.”
Read at:
https://www.puregoldmining.ca/puregold-reports-strong-start-to-third-quarter-and-provides-outlook-for-the-second-half-of-2021/
PureGold Declares Commercial Production :
VANCOUVER, British Columbia, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to announce that commercial production has been achieved at the PureGold Mine, effective August 1, 2021.
Following a successful commissioning period, the PureGold mine, milling facilities, and other critical systems are now all operating in line with or rapidly approaching design capacity of 800 tonnes of ore per day on a sustainable basis.
Darin Labrenz, President & CEO of PureGold, commented, “Commercial production is a significant milestone and marks the beginning of a very exciting growth phase for the Company. By combining stable gold production with the high-grade exploration potential that makes the PureGold Mine so unique, we are making significant progress toward our goal of unlocking the full potential of the PureGold Mine and becoming Canada’s next iconic gold producer.”
Qualified Persons and 43-101 Disclosure
Ken Donner, P. Eng., Vice President, Operations is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approve of the written disclosure of same.
About Pure Gold Mining Inc.
PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high-grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.
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
For further information, see the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit Red Lake, Ontario, Canada” with an effective date of February 5, 2019, and dated July 5, 2019 (the “Feasibility Study”), for further information please see www.puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com
Solid trading plan .
My often used Kevlar gloves help to minimize the damage catching the knife .
I was able to catch some "Pure Gold" at .96 and .88 last couple of weeks , so I am happy now that gold has gone back up .
I dont worry much about the falling knife. I do a lot of DD before I pull the trigger on the first buy and keep up with new developments.
I totally agree
I picked up a few more shares during the dip. Plays like these are easy. Just wait for the impatient or panicked to exit and accumulate and hold.
I think in the next Q Report we will have great improvement in both volume and grade. JMHO
Pure Gold ramping up production at Pure Gold Mine as it starts to show high-grade results
http://www.proactiveinvestors.com/companies/news/955785/pure-gold-ramping-up-production-at-pure-gold-mine-as-it-starts-to-show-high-grade-results-955785.html
C'mon lil fella ...
Stay safe >> M
Better ? Let's get back over a $buck ...
Stay safe >> M
Gold back "positive" after a morning "scare" . Mining stocks >> not so much .
Catch that falling knife , baby ...
Bought more at .8626 ...
Stay safe >> M
I will double down tomorrow. All gold miners are getting smacked now and it's a good time to pick up those juicy fruit I've been watching for the last few months.
Must be a good buying opportunity as PM stocks hit 52 week lows .
Most good opportunities feel like a "falling knife" situation to me .
So , I close my eyes and hit the buy button ...
Stay safe >> M
Increased my position by 25% today.
Realistically, I dont expect they will meet their original goal 58,000oz. To me that was apparent after the first quarter. Things often do not go exactly as planned with a new mine startup. I believe they will get to their goals, but not as soon as planned. If in another quarter or two they have not significantly improved production I will become negative, but as of now I am still positive.
(Valuation on Simply Wall Strret is $12.49C)
All those PGM insiders bought:
04 May 21 BuyCA$136,800 Lenard Boggio Individual 90,000 CA$1.52
04 May 21 BuyCA$182,400 Dougald Currie Individual 120,000 CA$1.52
04 May 21 BuyCA$91,200 Robert Bruce Pease Individual 60,000 CA$1.52
04 May 21 BuyCA$136,800 Sean Tetzlaff Individual 90,000 CA$1.52
04 May 21 BuyCA$594,320 Mark O'Dea Individual 391,000 CA$1.52
04 May 21 BuyCA$50,160 Kenneth Donner Individual 33,000 CA$1.52
04 May 21 BuyCA$50,160 Philip Smerchanski Individual 33,000 CA$1.52
04 May 21 BuyCA$136,800 Maryse Belanger Individual 90,000 CA$1.52
04 May 21 BuyCA$91,200 Darin Labrenz Individual 60,000 CA$1.52
From Stockhouse:
via twitter :
"What the hell is going on?? Your feasibility study had a mine plan stating 58,000oz would be delivered in year 1 and 90,000oz average over first three years.
After 6 months of mining you have produced 10,500oz.
Where is the freakin gold!!?? Shareholders deserve an explanation!" and "Increased grade to 7% from 2.8%.
But geez, 6261 oz of gold mined in Q2? Yes, explanation needed. "
From the CEO Darin Labrenz:
"Commercial production will be declared on the first day of the calendar month following the achievement of certain criteria including ore throughput and gold production levels achieving a pre-determined percentage of design capacity. These criteria are reviewed monthly. Inaugural production and cost guidance will follow shortly after a positive commercial production decision."
That means August 1st. As they are presently at 800-1000tpd
Sprott expected $2.05 CD (I don't remember when...LOL..soon I guess!)
Pure Gold Mining reports 46% increase in gold output in 2Q from Red Lake mine as it advances towards 'commercial' production
https://www.proactiveinvestors.com/companies/news/954870/pure-gold-mining-reports-46-increase-in-gold-output-in-2q-from-red-lake-mine-as-it-advances-towards--commercial--production-954870.html
https://sprott.com/media/4099/210713-scp-pgm-2q.pdf
July 13 - Sprott on PGM
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PureGold is a growth company, located in the very heart of Red Lake, Canada.
Red Lake is the world-famous high-grade gold district which has already produced more than 30 million ounces of gold, valued at over USD $50 billion in today’s prices.3
Little wonder Red Lake is called the high-grade gold capital of the world.
Our Mandate. Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and disciplined creativity to exponentially increase the size and scale of our high-grade gold assets along PureGold’s 100%-owned property – historically the second-highest gold-producing property in the Red Lake District.
Our Objective. Our objective is also pure and simple. To develop a highly-profitable long-life gold mining company in the heart of Red Lake, becoming Canada’s next iconic gold producer.
Our Plan. Our plan is very disciplined, very methodical, and financially sound.
To expand organically, and develop PureGold’s multi-million-ounce high-grade gold asset incrementally, step-by-step, using a Phased mining development plan to deliver maximum profitability.
Our Growth Strategy. Our growth and profitability strategy is focused on two parallel paths. First, to generate exponential growth in the size and scale of our multi-million-ounce gold asset. Second, to simultaneously generate over $2.3 billion in revenue – and over $1.2 billion in pre-tax free cash flow – from our Phase One mine alone.1,3
What Have We Accomplished To Date? In less than six years, PureGold has advanced it’s project from exploration, through development and into production, on budget and on schedule.
Even more impressive is our pre-tax operating margin of more than $1,350 an ounce – an extraordinary margin expected to generate more than $1.2 billion in pre-tax cash flow over the next 12 years alone.1,3
Welcome to The PureGold Mine.
PureGold’s Phase One mine has started pouring its first million ounces of high-grade gold. At the exceptionally low projected life of mine all-in-costs of USD $787 per ounce
This one million ounces of ‘low-hanging fruit’ will generate over $2.3 billion in revenue over the next decade. More than $1.2 billion in pre-tax free cash flow. And, based on a gold price of just USD $1,800 an ounce, delivering an exceptional pre-tax margin of more than $1,350 per ounce.
There’s good reason for this extraordinary operating margin.
The PureGold mine is one of the highest-grade gold mines on the planet – higher than 95% of all other producing gold mines. In fact, it’s in the top 5th percentile.4
This should come as no surprise.
Our mantra has always been to keep our eyes wide open, but to ‘Dream no small dreams’.
In less than 6 years, PureGold has defined a 2.1-million-ounce Indicated Resource, and a 0.5-million-ounce Inferred Resource at the PureGold Mine. Mineral resources are inclusive of Probable Mineral Reserves of 1 million ounces of gold grading 9 g/t. 1,6
We believe this is just the tip of the iceberg.
Data from more than 1.3 million metres of drilling has now delineated a 7-kilometre-long by half-a-kilometre-wide Gold Corridor on our property. This Corridor has a similar geological environment, as the Red Lake Mine Complex right next door – a mine complex which has already produced over 25 million ounces of gold.8
Our aggressive and highly-successful exploration and expansion drilling program continues to make new discoveries – discoveries which extend the scale and confirm the continuity of this gold system along our Gold Corridor. Discoveries of new near-surface zones with mineral resources that are not currently included in our feasibility study or mine plan. Discoveries that remain open along strike and at depth for expansion. Discoveries with mineral resources made over 3 kilometres south of the PureGold mine.
It’s like opening the door to Canada’s Fort Knox.
We believe we have barely scratched the surface. That’s why our ongoing exploration drilling program includes more than 30,000 metres of new, highly-focused drilling along our Gold Corridor.
To which we say, dream no small dreams.
We are in good company.
More than 30% of PureGold is owned by three global gold leaders and visionaries, including: Eric Sprott, the world-renowned gold visionary and investor, who owns over 10% of PureGold; the world’s third-largest gold producer, AngloGold Ashanti, which owns 16% of PureGold; and Newmont, the largest gold producer in the world.5
Our leadership and management teams have deep roots and experience in the geology of the Red Lake gold district, and direct hands-on experience from years of on-site exploring, mining, and producing high-grade gold in this area.
As owners, leaders, mine builders, and operators with extensive experience on most continents, we believe that we are the next chapter in the evolution of Red Lake. That we will achieve exponential transformative growth, in both size and scale, of our gold asset. Because we believe that there’s significantly more high-grade gold waiting to be discovered, right here, in Canada’s Red Lake.
Dream no small dreams.
Words to live by.
At PureGold, responsible mining is not an oxymoron. It is both a duty and a commitment.
We are a principled and ethical company, trying our best to be good neighbours, fully committed to our people, our community, and the environment.
Yes, we are passionate about gold and discovery.
Yes, we are in pursuit of profit for our shareholders.
But these motivations run parallel with our duty and responsibility to our People (safety, training, culture, good salaries and benefits for over 300 workers), our Community (agreements with First Nations, strong sustainable economic benefits, and community development), and the Environment (meeting and/or exceeding modern environmental and engineering standards, protection of wildlife, lands, and waters, and progressive closure and reclamation of surface disturbances – including for mining sites conducted by previous operators).
More than 30% of PureGold is owned by four global gold leaders and visionaries, including:
Rob McEwen, who transformed neighbouring GoldCorp into a multi-billion-dollar producer, was a cornerstone investor.
Eric Sprott, the world’s renowned gold visionary and investor, owns over 10% of PureGold.
AngloGold Ashanti, the world’s third-largest gold producer, is a cornerstone investor.
Newmont, the largest gold producer on the planet.
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