Value Microcaps Junior Miners

[Bobwins]

I sold it a few months ago. They've had trouble during the startup operations of their mine. The grades have been lower than forecast and I think some big investors have been bailing. The stock is overvalued, even for a fully functioning 100K producer, even after the big fall over the past few months. The big allure to Pure Gold is the deeper drilling prospects. The mgmt has been selling the fact that they have similar rocks to the very high grade gold found in their neighbor's mine, The famous Red Lake mine that built Goldcorp. Their current 2million oz of gold is found in the first 1200 meters of depth. Red Lake found their high grade gold at depths below 2,000 meters and they're still going deeper.

IF you decide to believe their story, you will have to wait until at least next year before they have a bigger drill program at depth. Even then, it will take years to prove it up, build a mine plan to get down to that depth and build the additional capacity mill to take advantage of it. So it's a long term hold that "might" turn into a bonanza. In the meantime, you have a 100-130K producer that should be profitable after they work out the bugs of startup. It might take them until the end of 2021 to show regular profits.