Value Microcaps Junior Miners

[Bobwins]

PGM.v/LRTNF US$.108

Pure Gold is a recent production story with a sad beginning. Overpromised and underdelivered and market made them pay. It peaked in 12/20 in the $2 range. Today I bought a few for .097. Will try to sneak a few more tomorrow.

So why buy? New mgmt. New technical studies and a better look at the ore body. They started production in a hinge zone that they say is the most complicated part of the ore body. As a result, grades have been subpar and below estimates. Prior mgmt was too optimistic. The new studies dropped the total ounces by 20%.

Mgmt is promising increasing ounces, leading to positive cashflow. Recent financing has 6 month warrants that company likely want to get exercised to provide drilling money. To get them exercised, they need good news. Last two months have shown increased production and grade. Should find out pretty quick if they are on the right track. Long term, they are still in the vicinity of the Red Lake Mine and they still have the positive long term potential of more high grade at depth, like Red Lake.

Here is their latest presentation:
https://www.puregoldmining.ca/wp-content/uploads/2022/09/Puregold-Corp-Deck-Sep-23-2022.pdf