Pure Gold Mining Inc. (TSXV:PGM, LSE:PUR) is a gold mining and development company, which by the end of 2020 is due to commence production at its PureGold mine at the Red Lake Mine, northwestern Ontario, Canada. Fully funded, the project is on track to deliver first gold pour into a rising gold price environment.
The orebody is situated within a seven-kilometre-long gold system that is wide open for expansion at depth and along strike, and multiple discoveries by the Company suggest potential opportunities for near-term growth.
The feasibility study showed Probable Mineral Reserves of 3.5 Mt at 9.0 g/t containing 1.0 million ounces of gold, which will be the target for the company’s initial production. With the gold price at over $1700/ oz (31 May 2020) and all in costs of US$787/ oz, Pure Gold has the potential to be a major gold producer in the Canadian gold mining market.
Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to provide an update on ongoing commissioning and …
PureGold Transitions to Producer VANCOUVER, B.C. – Pure Gold Mining Inc. (PGM:TSX-V, LSE:PUR) (“PureGold” or the “Company”), is pleased to …
PureGold Mine Delivered on Time and on Budget Pure Gold Mining Inc. (PGM:TSX-V, LSE:PUR) (“PureGold” or the “Company”), is pleased …
UNDERGROUND DRILLING INTERSECTS 23.4 G/T GOLD OVER 2.9 METRES, INCLUDING 50.1 G/T GOLD OVER 1.0 METRE AT THE PUREGOLD MINE …
PURE GOLD REPORTS THIRD QUARTER FINANCIAL RESULTS Remains on Track for First Ore to Mill by Year-End Pure Gold Mining …
PUREGOLD INTERSECTS 1,147 G/T GOLD OVER 1.2 METRES FROM UNDERGROUND AND 66.3 G/T GOLD OVER 1 METRE FROM SURFACE Ongoing …
| P&L | 2019 CAN$~000 | 2018 CAN$~000 |
|---|---|---|
| Total Expenses | (16,177) | (22,886) |
| Total Other Income | (5,645) | 222,292 |
| Net Loss for the Period | (21,822) | (22,664) |
| Balance Sheet | 2019 CAN$~000 | 2018 CAN$~000 |
|---|---|---|
| Cash & cash equivalents | 70,278 | 4,255 |
| Current Assets | 71,667 | 4,877 |
| Loans & Borrowings | 780,648 | - |
| Total Liabilities | 80,991 | 3,458 |
| Total Assets | 130,582 | 20,872 |
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Directors
Mark O’Dea – 1.48%
Graham Currie – 0.64%
Darin Labrenz – 0.42%
Troy Fierro – 0.25%
Lenard Boggio – 0.17%
Robert Pease – 0.13%
Other
Anglogold Ashanti – 13.95%
Eric Sprott – 10.04%
Rob McEwen – 5.02%
Van Eeck Global – 4.58%
Ruffer – 0.94%
“Gold – There’s No Going Back Now”, Velocity Trade Capital (March 2020)
Mining.com (May 2020)
Sprott backs Pure Gold with $10.7 million investment
Mining Journal (May 2020): “Pure Gold on track for production this year”
Pure Gold Mining has reported its PureGold mine development in Red Lake, Ontario, Canada, is on schedule for first gold pour before year end, with project economics to get a big boost from current metal prices.”
Thisismoney.co.uk (Aug 2019)
Recession fears, stock market wobbles and investors rushing to find a safe haven – could Pure Gold Mining be worth a look?
Tamesis Partners (Mar 2020)
The market should be in no doubt that Pure Gold will deliver gold production first before the end of the year before ramping up to 66koz in 2021 through to 125koz in 2025.
