Pure Gold Mining - share monitoring

Discussion of the proposed Cashback Investment Club

Moderator: CIC officers

HOLD / BUY / SELL Pure Gold Mining

Hold
8
57%
Buy
1
7%
Sell
5
36%
 
Total votes: 14

parchedpeas
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Re: Pure Gold Mining - share monitoring

Post by parchedpeas » Thu Dec 02 2021 11:11am

parchedpeas wrote:
Thu Apr 01 2021 1:18pm
We're still able to take a profit here, but the news is not great on this one.

This is worth opening discussions again: is it still the best thing to be knee deep in, or should we reduce our share to take some of the gains?

How long do we want to be in this?
I'm requoting this one, too.

There has been zero activity since this post in April. We've lost thousands on this.
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Beachboy
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Re: Pure Gold Mining - share monitoring

Post by Beachboy » Thu Dec 02 2021 12:16pm

parchedpeas wrote:
Thu Dec 02 2021 11:11am
parchedpeas wrote:
Thu Apr 01 2021 1:18pm
We're still able to take a profit here, but the news is not great on this one.

This is worth opening discussions again: is it still the best thing to be knee deep in, or should we reduce our share to take some of the gains?

How long do we want to be in this?
I'm requoting this one, too.

There has been zero activity since this post in April. We've lost thousands on this.
No lack of interest in my part 🙂. The reason I have not added further recently is because I was previously very clear I had a preference for (and backed with a proposal) selling some of our holding to crystallise a profit when we could have made a significant sum. However this was not supported so I respected the democracy of the club. I was hoping that others who had differing views had/have a plan. 👍

parchedpeas
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Re: Pure Gold Mining - share monitoring

Post by parchedpeas » Wed Dec 15 2021 5:13pm

parchedpeas wrote:
Thu Dec 02 2021 11:10am
Both our holdings in this turd are now in the red. The last comment in this thread from someone other than me was at the start of August.

Very hard to maintain interest in this club when our major holding has been handled with such apathy by other members. There's no personal blame attached to anyone as the problems with the club are symptomatic of the wider site.

What is the plan for this share, other than clinging on and hoping things get better?
Two weeks after this post there has been one post on this thread.
The share is now down at 39p.

I'm out.

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Re: Pure Gold Mining - share monitoring

Post by Beachboy » Wed Dec 15 2021 8:43pm

parchedpeas wrote:
Wed Dec 15 2021 5:13pm
parchedpeas wrote:
Thu Dec 02 2021 11:10am
Both our holdings in this turd are now in the red. The last comment in this thread from someone other than me was at the start of August.

Very hard to maintain interest in this club when our major holding has been handled with such apathy by other members. There's no personal blame attached to anyone as the problems with the club are symptomatic of the wider site.

What is the plan for this share, other than clinging on and hoping things get better?
Two weeks after this post there has been one post on this thread.
The share is now down at 39p.

I'm out.
This might be little consultation (and I accept nothing to do specifically with your post re PGM) but there has been quite a bit of work going on behind the scenes between me, Richard and Garindan to sort out changes to the share dealing account; bank access; transfer of information and permissions I need to fully take over as Treasurer; meetings to learn the valuation process and sort out some technical tweaks.

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Re: Pure Gold Mining - share monitoring

Post by parchedpeas » Thu Dec 16 2021 10:26am

Beachboy wrote:
Wed Dec 15 2021 8:43pm
This might be little consultation (and I accept nothing to do specifically with your post re PGM) but there has been quite a bit of work going on behind the scenes between me, Richard and Garindan to sort out changes to the share dealing account; bank access; transfer of information and permissions I need to fully take over as Treasurer; meetings to learn the valuation process and sort out some technical tweaks.
It's nothing against those such as yourself, Garindan, Richard who have all done tonnes of work behind the scenes - it really has been appreciated. We were all 'in' at the start of this (11 years ago!) But look at this list:

memberlist.php?mode=group&g=20

There are more people in this club than just the three who do the graft, and me. And yet no commentary on this share as it has sunk lower and lower across the year. Look at when those members last visited the site: there is no engagement. It speaks to the wider problems with imutual which were baked in at the point Richard took the site private. People have no incentive to be here at the moment.

My investment in the club is tiny, so in terms of £££ it won't impact the future of the club, but I'd rather take my funds and stick it elsewhere (Bitcoin eg) - at least that's a bit of fun! Coming here every three weeks to try and prompt some discussion over PGM as it sank lower and lower has not been fun at all.

I hope the club can turn it around but I feel it needs imutual to turn it around first. There's no sign that's going to happen anytime soon. I wish it were different - there's still tonnes of goodwill for the idea of a mutually owned cashback site, and I still think that the Cashback Investment Club is the jewel in the sites crown. But not like this.
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hiswitzend
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Re: Pure Gold Mining - share monitoring

Post by hiswitzend » Tue Dec 21 2021 6:14pm

I would like to point out i am no longer part of the investment club but am still listed in the link.
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Beachboy
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Re: Pure Gold Mining - share monitoring

Post by Beachboy » Wed Dec 29 2021 9:20am

As our first holding of PGM has just tipped over the breakeven mark what about selling these to limit our exposure and give us some funds to invest and generate more interest/excitement in the new year? That is of course unless anyone has some information to suggest they are due an upturn in the near future?
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BeautifulSunshine
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Re: Pure Gold Mining - share monitoring

Post by BeautifulSunshine » Wed Dec 29 2021 2:44pm

Beachboy wrote:
Wed Dec 29 2021 9:20am
As our first holding of PGM has just tipped over the breakeven mark what about selling these to limit our exposure and give us some funds to invest and generate more interest/excitement in the new year? That is of course unless anyone has some information to suggest they are due an upturn in the near future?
Make of it what you will:
24/12/2021
11:12 Interview on Korelin Economics Report, 22nd December.
robertstronghand @advin

https://uk.advfn.com/stock-market/londo ... share-chat
24/12/2021
10:57 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).

robertstronghand @advin

https://uk.advfn.com/stock-market/londo ... share-chat
I'm in for the long-haul.

Time shall tell.
[imutual Cashback Investment Club]

Beachboy
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Re: Pure Gold Mining - share monitoring

Post by Beachboy » Thu Dec 30 2021 9:40am

AAAlphaThunder I appreciate the time taken to provide a response so thanks for that. Can I ask what 'in for the long-haul' means and what a suitable exit position to you looks like? The commentary is definitely an interesting read. The aspirations contained within it for the latter part of 2022 at best only get us back somewhere towards a position we held nearly 12 months ago.

Hence why it would be good to understand your thoughts and other members on a suitable exit position. This of course might be different for our different holdings. For example, like mine where I would like to at least limit of current exposure to this single share and at the same time being some new enthusiasm/excitement to the club by having fun choosing a new investment. My fear is that if we just sit on existing shares in hope that they will go up (with little information to support that) coupled with limited new funds being added by members the club will of course continue but will naturally stagnate.
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Re: Pure Gold Mining - share monitoring

Post by pieman » Thu Dec 30 2021 1:40pm

As trading is going to be light / non existent for the next few days, I would like to see where we are next Thursday and potentially have a poll and outcome on / by next Friday.

That way we can see the direction of travel (or not) and then maybe make a decision - even if it is only hold until it reaches a particular price.
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