Pure Gold Mining - share monitoring

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HOLD / BUY / SELL Pure Gold Mining

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

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Re: Pure Gold Mining - share monitoring

Post by BeautifulSunshine » Mon Jun 08 2020 8:14am

As I write, up +85%.

Only my personal humble opinion, I'm waiting for the start of mining operations to see the price significantly rise. Thereafter, I aim to sell longer-term as I expect the price to sky rocket with the continued success of lucrative mining operations.

In my humble opinion, Pure Gold Mining is a once-in-a-lifetime opportunity to bank a X,XXX% return, a minimum of 1,000% return.
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Re: Pure Gold Mining - share monitoring

Post by richard@imutual » Mon Jun 08 2020 11:00am

Might a sensible compromise be to sell half of our holding?

As a club, I think we need more of a "Stick with winners, dump losers" attitude. However, this stock now represents a large proportion of our investments so it might be wise to bank some profits and balance the portfolio

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Re: Pure Gold Mining - share monitoring

Post by garindan » Mon Jun 08 2020 12:13pm

richard@imutual wrote:
Mon Jun 08 2020 11:00am
Might a sensible compromise be to sell half of our holding?

As a club, I think we need more of a "Stick with winners, dump losers" attitude. However, this stock now represents a large proportion of our investments so it might be wise to bank some profits and balance the portfolio
It is interesting to know that the price of the share was a little behind the same company listed in Canada's stock exchange, from what I read. It might be more prudent for us to keep tabs on the Canadian equivalent and let that inform us on the UK share listing?

The first pour is late fourth quarter this year. I can't see the share doing much until there is either a leak of news or there is a bit of pre-pour excitement of prospective investors banking on very positive results beforehand.

I think if we got to the point we could sell half of the current holding equivalent to the value of our original investment then it would double down on risk of loss. However.....

.... in the other hand, it would also halve the opportunity for what could be the investment that makes the club, and it would be pretty fantastic to realise a very substantial return - something we'll probably find quite difficult to do again.

On this basis, and feeling more positive for us to try and make something of our investment, I fancy sticking with it in its entirety. My view might change in the coming weeks but I can't get out of my head how often a chance like this comes along.

It's a bit of a quandry but a nicer one to have than other scenarios we've experienced.
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Re: Pure Gold Mining - share monitoring

Post by richard@imutual » Tue Jun 09 2020 12:18pm

Well personally I'd like to hold. But at the time of writing the vote is tied 5/5 between holding and selling, so it only takes one person to change their vote and we'd be obliged to sell the lot :(
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Re: Pure Gold Mining - share monitoring

Post by garindan » Tue Jun 09 2020 1:34pm

This is the Canadian Stock Exchange listing for Pure Gold Mining here.

This is what I mentioned we should be keeping an eye on, as the UK stock market is sometimes a short period behind the Canadian one, so there is a potential window of opportunity to see movement before it is taken into account in the UK market. Now there is growing interest in the share it might be a much smaller window and continually shrink toward nothing as it gets further interest.
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Re: Pure Gold Mining - share monitoring

Post by BeautifulSunshine » Mon Jun 22 2020 6:52pm

PureGold Closes $15 Million Non-Brokered Flow Through Financing
Eric Sprott increases his share ownership to 12%

Not For Distribution To United States News Wire Services Or For Dissemination In The United States

VANCOUVER, British Columbia, June 17, 2020 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSXV:PGM, LSE:PUR) ("PureGold" or the "Company") is pleased to announce that it has closed the non-brokered private placement of 9,868,421 common shares of the Company that qualified as “flow-through shares” for the purposes of the Income Tax Act (Canada) (the “FT Shares”) at a price of $1.52 per FT Share (the “Financing”), for gross proceeds to PureGold of $15,000,000. Subsequent to the private placement, Mr. Eric Sprott was the back-end buyer of all of the FT Shares.

“This new capital gives us the financial flexibility to launch an aggressive exploration drilling campaign designed to accelerate our goal of resource growth and expansion. While we remain completely focused on our fully-funded mine construction and ramp-up, we strongly believe our mine plan is both scalable, and has the potential to expand. This investment allows us to begin building out our future growth today, concurrent with mine construction activities which remain on-track for first gold production in Q4 2020,” said Darin Labrenz, President & CEO. “We would like to thank Eric Sprott for his continued support of the Company and of our vision of becoming a high-margin, long-life producer in the Red Lake mining district”.

The gross proceeds from the issuance of the FT Shares will be used for “Canadian exploration expenses” and will qualify as “flow-through mining expenditures” (the “Qualifying Expenditures”), as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2020 in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares, and, if the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each initial purchaser of FT Shares for any additional taxes payable by such subscriber as a result of the Company’s failure to renounce the Qualifying Expenditures as agreed.

In consideration for their services, a finders’ fee equal to 6.0% of the gross proceeds of the Financing was paid to a group of financial advisors led by Clarus Securities Inc.

The FT Shares have a hold period of four months and one day from closing, expiring on October 18, 2020.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the FT Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the FT Shares in the United States of America. The FT Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About Pure Gold Mining Inc.

The PureGold Red Lake Mine is Canada’s next gold mine. Fully funded, the project is on track to deliver near term gold production into a rising Canadian gold price environment, with first production scheduled for late 2020. 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.

Additional information about the Company and its activities may be found on the Company’s website at www.puregoldmining.ca and under the Company’s profile at www.sedar.com.

ON BEHALF OF THE BOARD
"Darin Labrenz"
Darin Labrenz, President & CEO


Investor inquiries:
Adam Buchanan, Manager, Investor Relations
Tel: 604-646-8000
info@puregoldmining.ca
https://web.tmxmoney.com/article.php?ne ... symbol=PGM
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Re: Pure Gold Mining - share monitoring

Post by garindan » Wed Jun 24 2020 10:59am

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Re: Pure Gold Mining - share monitoring

Post by BeautifulSunshine » Thu Jun 25 2020 12:05pm

garindan wrote:
Wed Jun 24 2020 10:59am
More good news here:

https://uk.advfn.com/stock-market/londo ... t/82716518
And the good news is:
24/06/2020 7:00am
UK Regulatory (RNS & others)

TIDMPUR

RNS Number : 9043Q

Pure Gold Mining Inc.

24 June 2020

NEWS RELEASE 20- 12 June 24 , 2020

PUREGOLD RED LAKE MINE CONSTRUCTION RAMPING UP - ON TRACK FOR Q4 PRODUCTION

VANCOUVER, B.C. - Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) ("PureGold" or the "Company") is pleased to report on the progress of construction activities at its PureGold Red Lake Mine, located in Red Lake, Ontario. Construction is advancing rapidly, on schedule for first gold pour in Q4 2020.

Project Highlights as at June 21, 2020:

-- Procurement of major equipment is now 94% complete
-- Total of 1,285 metres of underground mine development completed. Advance rate 60% better than mine plan

-- Initial access development to longhole stopes commenced
-- Installed alimak in existing shaft to support dewatering and shaft rehabilitation
-- Process plant prepared for installation of new equipment, with removal of legacy piping, pumps, motors, ball mill, gold room and pre-leach thickener

-- Steel and concrete work modifications inside process plant for new ball mill, gravity circuit and construction of hydraulic backfill plant commenced

-- Installed and occupied new buildings including administration, warehouse, and mine dry
-- Recruited key operational team members including safety, mining, milling, and technical services, with bulk of operational management team now in place

-- More than 145,000 hours without a lost time incident
Construction, which commenced at the PureGold Red Lake Mine in late 2019, is well advanced with 45% of our capital expenditure committed. The Company is fully funded to production, with first gold production planned for Q4 2020.

"We are now only months away from first gold pour at our new PureGold Mine, and our first step to building a long-life growth company in the heart of Red Lake, one of the world's most prolific gold-producing camps," says Darin Labrenz, President and CEO. "Our opportunity for value creation is tremendous: we are delivering our mine into a rising gold market, with the potential to benefit from a period of margin expansion unlike any we have seen in years. But we see this as just the beginning of establishing ourselves as Red Lake's next senior producer. On the cusp of production, we believe we have only scratched the surface and we are already working towards the next phase of our growth with the initiation of an aggressive 18-month exploration program. We look forward to becoming Canada's next gold mine and delivering on the strong organic growth platform that underpins our PureGold Red Lake Mine."

Mine Development:

As at June 19th, a total of 1,285 metres of underground development has been achieved. Underground development to date is advancing at a rate of eight metres per day compared to a feasibility planned advance of five metres per day. Improved productivity, with development rates that are 60% better than plan, and a focus on main ramp development will open up more mining areas and drive deeper development more quickly. This will allow the Company to improve upon the feasibility mine plan by prioritizing mining on higher grade stopes.

The Company has commenced initial access development to the first longhole stopes and is now accessing ore on multiple sills. Underground development is expected to accelerate in July with the recruitment of the next team of mining crews.

Another significant new development underground is the installation of a three deck alimak in the shaft to support mine dewatering. Dewatering is now down to 311 metres below the shaft collar, progressing on schedule and well in advance of underground development.

Underground exploration and stope scale drilling is now underway, with infill drilling focused in areas targeted for the first two years of production. The underground drill program has been designed to convert resources to reserves and expand mineral resources in order to more closely define the stope geometry, further optimize and expand the near term mine plan.(1)

Process Plant:

Construction and modernization of our process plant is progressing well. Electrical switchgear has been certified and overhead cranes have been commissioned and are being utilized for removal of old equipment and installation of new. Numerous systems have been dismantled and removed to make way for new equipment, including all piping, pumps and motors, pre-leach thickener and all gold room components. In addition, the pre-existing ball mill has been removed, along with the original pedestals. New concrete foundations have been designed and mill pedestals will soon be constructed in preparation for the arrival and installation of a new ball mill, which is scheduled to arrive in late August.

Steel work for the new gravity circuit, anticipated to arrive in July is now complete. Foundations and tanks for the new hydraulic backfill batch plant and cyanide detoxification circuit are well advanced.

Other Surface Infrastructure:

Construction continues to accelerate with more than 80 contractors now on site. New infrastructure established includes an administration complex, warehouse, mine dry and water treatment plant building. Road infrastructure has been improved and a mine rock management facility has been completed.

Equipment Procurement:

Approximately 95% of major equipment procurement packages have been placed. Initial procurement packages have been delivered to site and significant equipment orders, including long-lead items and key processing equipment are in fabrication and are progressing on schedule, with delivery expected in the coming weeks. New mine equipment delivered to date includes four underground scoops, two jumbos, two haul trucks, two scissor lifts, multiple utility vehicles and an anfo loader.

Permitting:

The amendment of the Environmental Compliance Approval ("ECA") for Air and Noise permit has passed regulatory review and all work is complete, with receipt of the amended permit anticipated in the coming weeks. In addition, regulatory review of the Industrial Effluent permit (ECA Industrial Sewage Works) amendment is complete and the permit amendment is expected to go through an expedited approval process.

Operations Team:

PureGold is pleased to announce that Rickardo Welyhorsky, P.Eng., has recently joined the senior mine management team as Mine General Manager.

Mr. Welyhorsky is a Professional Engineer with a degree in Extractive Metallurgical Engineering and over 27 years of experience throughout all l e vels of project development and operations in the mining and metals industry. He has a wealth of Canadian and International experience in various roles with Yamana Gold, Detour Gold , Barrick Gold, and AMEC.

Most recently, Mr. Welyhorsky was Director Technical Services for Yamana Gold, where he played a leadership role in the development and commissioning of the Cerro Moro underground and open pit operation. Prior to his position with Yamana, Mr. Welyhorsky held management positions at several Canadian open pit and underground operations.

PureGold's operational management team is now well advanced, with the Mine General Manager, Milling Manager, Mining Manager, Chief Engineer, Chief Geologist, and Health and Safety Superintendent all in place. Other key project roles have been filled and discussions are ongoing with candidates for remaining positions. Hiring is underway for the next tranche of miners for ore development work as well as recruitment of key roles in the maintenance department. To date, PureGold has recruited 89 of the 101 employees planned for the end of June. The total workforce anticipated to be engaged by end of September, before start of mill operations is 189 employees. We continue to place emphasis on engaging and hiring local and First Nation contractors and employees.

Health & Safety:

Since construction was initiated in 2019, the PureGold team has completed over 145,000 hours without a lost time incident. All construction and development activities at the PureGold Red Lake Mine continue to operate normally, with no significant impact to date beyond the implementation of additional education and safety measures. We have no reported incidences of COVID-19. Please see March 20, 2020 release for our COVID-19 response measures.

Engagement of Investor Relations Consultant:

The Company would also like to advise that Goldsmith Consultants, LLC., has been engaged for Investor Relations consulting effective immediately. The engagement of Goldsmith Consultants supports the Company's broader communications strategy to build investor audiences.

Goldsmith Consultants does not have any interest, directly or indirectly in PureGold Mining or its securities nor any right to acquire such an interest. Pursuant to the terms of the Company's agreement with Goldsmith Consultants, Goldsmith will be responsible for a variety of financial public relations and investor relations activities, including development of the Company's communications strategy, dissemination of corporate information, presentations, videos, interviews, and communications materials.

Qualified Persons and 43-101 Disclosure:

Ken Donner, P. Eng., Vice President, Operations for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

1. See Company News Release Dated June 4(th) , 2019
For a set of photos showing recent development, click link below:

http://puregoldmining.ca/sites/default/ ... Photos.pdf

About Pure Gold Mining Inc.

The PureGold Red Lake Mine is Canada's next gold mine. Fully funded, the project is on track to deliver near term gold production into a rising Canadian gold price environment, with first production scheduled for late 2020. 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.

Additional information about the Company and its activities may be found on the Company's website at www.puregoldmining.ca and under the Company's profile at www.sedar.com .

ON BEHALF OF THE BOARD

"Darin Labrenz"

Darin Labrenz, President & CEO

Investor inquiries:

Adam Buchanan, Manager, Investor Relations

Tel: 604-646-8000

info@puregoldmining.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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garindan
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Re: Pure Gold Mining - share monitoring

Post by garindan » Thu Jun 25 2020 1:22pm

Another welcome price increase today off the back of the news.
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Re: Pure Gold Mining - share monitoring

Post by BeautifulSunshine » Thu Jun 25 2020 3:27pm

garindan wrote:
Thu Jun 25 2020 1:22pm
Another welcome price increase today off the back of the news.
Indeed, as I write the imutual Cashback Investment Club holding of Pure Gold Mining shares is up +112.0%.
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