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Pure Gold Mining Inc. (PGM.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.6700-0.0200 (-2.90%)
At close: 03:59PM EST
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  • 3
    3800ft
    These prices are going to be in the rearview mirror at some point in the not too distant future. Hard to digest that fact with all we've been through over the previous year....but better days are ahead. I'm thinking we drift slowly and steadily up in share price over the next few months, with of course the normal up and downs that all stocks have on a day to day basis. But over the course of 2022, I see us doing a slow and steady climb. If gold really takes off and we also get some good numbers from the company.....we could have some days this thing really kicks up a notch or 2. I do not see us trading anywhere near these levels at the end of this year. This thing has a lot of room to run from here. There will be many regretting not buying in or averaging down during this window of time we have had while we've been in the 50 cent USD range. Not encouraging anyone to buy, sell or anything at all here because each individual's circumstance, risk tolerance, goals etc. are unique to that individual. I'm just saying I think this train is going to be leaving the station.....end of this year the current share price will be long gone.
  • 3
    3800ft
    From ceo.ca board......brief summary of Crux investor interview that will be available for viewing by non-members Tuesday.
    “@shogun_nemesis No problem. The interview is out. Matt was tactfully critical and got plenty of nuggets out. The new management is certainly different from the previous regime, in that they are not over promising. They want to focus on getting production right. Troy stated that usually startup issues are related to mineralization, modelling, mill, etc. But in this case, it was related to lack of definition drilling, leadership, and accountability. For example, while the Mill operators were utilizing computerized prevention maintenance programs to avoid equipment downtime, the underground mine operators were not. As a consequence, the equipment failure led to downtime. This resulted in fewer tonnage in October (and the manager's subsequent unemployment). Travel restrictions limited the board from visiting the mine on a regular basis. Troy himself had only flown on site first time since pour in Sept. So they were basically going by the numbers fed to them, with promises that kept failing. Company is guiding for lots of improvements in Q1, including cash flow neutrality (positive in Q2). But this year they will likely not be expending any cash on growth. Instead, the goal is to reach stability and regain credibility as mine operators. Troy even acknowledged that the issues faced this year were avoidable - especially through something as basic as additional definition drilling. They are now executing on that plan. It is clear they are keeping a close eye on cash.” 🌎
  • 3
    3800ft
    Crux Investor interview with Troy just released: https://m.youtube.com/watch?v=-oORSqxI4as&feature=youtu.be 🌎
  • J
    Jan
    Watched interview, some good a little bad. Won't be drilling 8 zone till free cash flow. No AISC for awhile. Otherwise very positive. Can't wait for first quarter results.
  • 3
    3800ft
    Good news out this morning: PUREGOLD DEFINITION DRILLING CONFIRMS HIGH GRADES IN UPCOMING STOPES https://www.puregoldmining.ca/puregold-definition-drilling-confirms-high-grades-in-upcoming-stopes/🌐
  • 3
    3800ft
    Only a matter of time before we are bought out, merged or whatever the scenario ends up being. The chance of this happening is greater than it not occurring, the only unknown is when. Very likely sometime within the next few months or the next year or 2. Take a look at the latest corporate presentation, page 5. The Pure Gold Mine is surrounded by 3 major gold mining companies......Evolution, Kinross (Great Bear) & Barrick. And when I say surrounded, I mean these guys are in our back yard.....like right next door. Pure Gold is literally wedged right smack in the middle of the properties of those other 3 major players. For multiple reasons I think there is a 90% chance we get taken out at some point in the future. 10% chance we carry on as the current Pure Gold Mining. Part of me would like to see Pure Gold carry on as a stand alone entity, the other part of me would like to see us bought out......BUT only at a fair price for the shareholders. Anyway.....take a look at the map on page 5 and think about what I just mentioned. For many reasons such a transition would make a lot of business sense as far as economics, location, sharing of mill facilities, deeper pockets, etc. Only time will tell. https://www.puregoldmining.ca/wp-content/uploads/2022/01/PureGold-Deck-January-4-2022-Final-1.pdf🌐
  • 3
    3800ft
    @canadiankyle new interview with Chris Haubrich, CFO of Pure Gold Mining https://www.youtube.com/watch?v=KTTZs43Eks4🛎
  • 3
    3800ft
  • W
    Watcher
    Dave is right…proactive..No. The Board should have made these changes a year ago. However, better late then never. I am tired of awful management. Now let’s get positive drilling results on a regular basis and news releases showing mining progress..if not, then we replace these directors as well.
  • 3
    3800ft
    New interview just out with Troy Fierro: https://www.youtube.com/watch?v=OVDreE5FdW8🌐
  • B
    Bob
    Should be a breath of fresh air for this company. The gold is there -now go and fill up the mill Troy and provide meaningful updates.
  • 3
    3800ft
    Crux Investor interviewing the company next week.....I’m assuming it will be with Troy Fierro. Crux Investor is not shy about asking tough questions, I’ll be looking forward to this being online in the near future.
  • M
    Money
    Great news!
  • M
    Mike
    Not affecting production. Guys are covering the sick ones. So they do another rotation, plus their own again. It's costing them more in wages though.
  • J
    Jan
    Sold out yesterday at 58 cents. Just hibernating for a month or two. will be back but I see production has slowed according to their news release, and no chance at profitability according to analysts so time to step back. Investors won't like next quarterly report, and I hope I can buy more with less. GLTA
  • R
    Randal
    SOURCE CEO board @shogun_nemesis Good morning everyone. The recent interviews have been extremely useful in tying together all the bits and pieces we have been collecting over the past few months. The most useful bit of information is that the reserve stopes are matching the mine plan (7.8 gpt). This is a huge relief. The main challenge has been driving tonnage to the mill (this in itself is a common issue faced with new mines, so forgivable in my opinion...what is not forgivable is the management leaving us in the dark). Basically, due to the lack of stopes available, the company had to blend the low grade ore from the commissioning period with the higher grades from the mine plan. This diluted the head grades that we saw earlier in the year. The company raised money to open up the East Ramp to add additional headings for stoping; some of these areas only became available to be mined in July. I believe the company had started with two low grade stopes initially, but has since moved up to mining actively from 5 stopes as of November. In the first quarter, there was also the overbreak from stopes outside the reserve plan - they were basically desperate to grab whatever ore they could to feed the mill. These were new discoveries with insufficient geological information so dilution was high. But since then, the company has increased drill rigs from one to four. This will allow the management to schedule the mine plan ahead of mining; initially it will mean the company will be able to plan and predict production two months in advance and eventually to six months ahead. The four rigs are now running and producing 600 samples a day for assaying on site - effectively allowing them to plan and execute in real time with Maryse leading the charge. She is the perfect person for the job as she has also served as SVP of Technical Services at the adjacent Red Lake Mine which has essentially the same geology. Not only are these drills providing much needed geological data, but also adding ounces that were never part of the original mineral resource. For example, the stope being developed and extracted from the East Ramp this month is THREE times larger than the size anticipated in the feasibility study! In effect, the drills are paying for themselves.

    Mines face different sorts of risks; jurisdictional, geological, operational, capital, and construction related. Fortuna Silver Mines lost 30% in a day due to jurisdictional risks. Argonaut similarly dropped due to construction risks. Rubicon fell victim to geology. In lieu of the above updates, I believe the operations are headed in the right direction now. The big risk remaining is capital; will the company run out of money and dilute us again? Based on the math I posted a few weeks ago, it doesn’t seem like it. Sources on the ground say bills are being paid on time. Plus, they have reduced several costs associated with operations. The company expects to be cash flow neutral in February, and then positive from there on. My math had pitted them at slightly negative in December, but as I have not crunched the numbers for the next two months, I can only parrot what the company has said. If we had seen significant insider buying at these levels, I would have assumed capital risk is no longer a major issue. So there is risk, but it is low.

    The 12 year mine life will definitely increase as the drills are showing additional gold around the ore body. This will become even more significant as they go deeper. Plus, there is 50,000 meters of drill data that will become part of the mine plan in the second half. The drilling to 8 Zone will begin in the second half of the year funded with positive cash flows. Which, as I have said in the past, is a relief since capital is the key risk at the moment. So what do I think of the picture painted above? I am far more optimistic now than I was two months ago. If in two more months the company can indeed stop bleeding cash, there is a good chance the company could 3X through to the end of 2022 (mine performance + mineral resource update + continuous assay results from 8 Zone). 3 16 minutes ago
  • D
    Dave
    Fierro and the rest of the board have been in place at least since 2013. During this past year they were either advising management on direction and fully aware of what was going on, or hands off and let Darren manage as he saw fit. Either way the board shares in the blame for where we are now. I'm glad to see Darren is gone but he has been made a scapegoat for what to me is a broader managereal failure. Where was the board while we were missing projection after projection and blowing millions of dollars. They are trying to paint this as proactive and significant change but its reactionary and a reshuffling at best that hopefully wont turn out to be just a different shade of red lipstick on this pig. I'm done ranting. Good luck to all.
  • W
    William
    Used to own shares, I'm sniffing around again. Main reason I'm sniffin..., is I always thought this company was a buyout candidate being where they are located. I truly think the missteps of prev CEO will allow someone to step in and shareholders will accept since they have been taken through the wringer. A year ago not sure shareholders would be as accepting to a buyout. Anyway, some outside perspective, think its bottomish.
  • 3
    3800ft
    Best wishes to everyone as we approach the closing out of 2021. I could write a book on so many experiences this year, Pure Gold included. No doubt, everyone has their own stories to tell and remember. Looking forward to a good and productive year for Pure Gold. Merry Christmas and Happy New Year! 🎄