Pure Gold Mining - share monitoring

Discussion of the proposed Cashback Investment Club

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HOLD / BUY / SELL Pure Gold Mining

Hold
10
83%
Buy
0
No votes
Sell
2
17%
 
Total votes: 12

AAAlphaThunder
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Re: Pure Gold Mining - share monitoring

Post by AAAlphaThunder » Wed Aug 05, 2020 7:13 pm

Beachboy wrote:
Wed Aug 05, 2020 12:05 pm
This article is on the BBC website today (05-08-20): https://www.bbc.co.uk/news/business-53660052

Hopefully good news for us 🤞
Gold price rises above $2,000 for first time

Gold has topped $2,000 (£1,527) an ounce for the first time as traders look for havens amid the pandemic.

Investors have moved cash into the precious metal as Covid-19 cases rise in the US and more money is pumped into the global economy.

The record high gold price has also been driven by concerns over tensions between Washington and Beijing.

Prices of other precious metals, including silver, have also risen sharply since the start of this year.

The price of gold has increased by more than 30% this year as coronavirus cases continue to rise in America, causing dozens of states to halt or reverse their plans to reopen.

The rapid rise in cases, which has dented hopes of a swift US economic recovery, has also helped to drive up the price of silver by around a third this year.

Among the reasons for those rises is investors preparing themselves for a possible pick-up in inflation due to the impact of trillions of dollars of stimulus from governments and central banks around the world.

In Washington, Trump administration negotiators have said that they will work "around the clock" with Democrats as they attempt to strike a deal on more economic relief measures by the end of the week.

According to Bank of America, governments around the world have already announced approximately $20tn worth of stimulus to combat the economic impact of the pandemic.

Some investors see the fallout from the Covid-19 crisis, along with ongoing tensions between the US and China, continuing to push up the price of gold.

Market strategist Margaret Yang says she sees potential for bullion to continue rising in the coming weeks and months: "The mid-to-long-term prospect of gold and other precious metals remains bullish against the backdrop of low interest rate environment and fiscal and monetary stimulus."

Peter McGuire from XM.com said he sees gold reaching "$2,200 by Christmas" with silver, platinum and palladium also set to see strong gains.
If it transpires that Peter McGuire is right that is a good stoke of fortune for the imutual Cashback Investment Club in relation to our holding of Pure Gold Mining.
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Beachboy
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Re: Pure Gold Mining - share monitoring

Post by Beachboy » Mon Aug 10, 2020 4:30 pm

It looks like we were very unlucky with our timings for topping up our holding. Pretty the moment we purchased them the price slumped. Fingers crossed it will bounce, it would have just been great if we had been in a position to capitalise from any upturn rather than just hoping to clawback ground.
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garindan
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Re: Pure Gold Mining - share monitoring

Post by garindan » Mon Aug 10, 2020 4:35 pm

Beachboy wrote:
Mon Aug 10, 2020 4:30 pm
It looks like we were very unlucky with our timings for topping up our holding. Pretty the moment we purchased them the price slumped. Fingers crossed it will bounce, it would have just been great if we had been in a position to capitalise from any upturn rather than just hoping to clawback ground.
Yes, unlucky entry price for sure. However, I am not overly concerned. The key thing was we got in OK before any announcements about real pours came. We've done that and I think we'll be good.
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Re: Pure Gold Mining - share monitoring

Post by garindan » Tue Aug 11, 2020 9:49 am

Apparently there has been a forrest fire and this has dented the share price considerably. It should only be a blip and as soon as they can get back to it we start to see more news coming out.
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Re: Pure Gold Mining - share monitoring

Post by garindan » Wed Sep 09, 2020 11:33 am

PGM has risen sharply the past two days - currently @141p, but was as high as 149p this morning on opening. Drilling results and first pour soon, so we should be seeing some action one way or another in the coming few weeks. Exciting times.

This does bring me back to a point raised in the thread for purchasing our second batch of shares. We really need to get to grips with what we are going to do with this share.

In my eyes there are two things that need to be established:

- what point we want to sell enough shares to cover the cost of our original holding (£1000) and leave the rest of that purchase amount to do their thing without us experiencing any loss at all

- what exit point are we looking at for the second batch of shares, bought to try and eliminate the losses experienced from the blue chip investments that did not go according to plan? See original post quote below:
garindan wrote:So the deed is done. Details of the purchase are as follows:

Quantity: 573
Buy price: 129.4500p
Commission: £7.50
Total: £749.25
Actual average price inc. commission: 130.8p

Taking the above into account....

Bluechips cost us:£1818.19
Sale funds, including accrued dividends before sale: £737.71 + £251.56 = £989.27
Deficit: £828.92 (45.6%)

Coverting this to Pure Gold Mining target sale price:

-> ~191p - if we target recouping the same percentage as lost from the original investment
-> ~276p - if we target recouping the entire monetary loss from the original investment

If we get to be where we want to be with PGM it is entirely possible any movement from the lower target to the higher target could come quickly, as is the nature of results from gold mining pours. However, we also need to consider that we have the original PGM holding. We need to discuss exactly what our targets are with this too, now we have made this second investment. A new thread will be opened to do this.

Let's see where this takes us - our bravest and boldest move yet.
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Re: Pure Gold Mining - share monitoring

Post by garindan » Wed Sep 09, 2020 9:32 pm

Closed £1.52, but Canadian stock exchange just closed their trading for the Canadian listed company at $2.68 CAN , so will most likely rise another ~5p in tomorrow's uk trading.
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Re: Pure Gold Mining - share monitoring

Post by garindan » Thu Sep 10, 2020 5:08 pm

As I predicted last night - PGM rose another 5p+ today, taking it to 157.5 at close. Canadian stock is on the rise again today, so hopefully that will be sustained and we'll be due another rise in tomorrow's UK trading.
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Re: Pure Gold Mining - share monitoring

Post by garindan » Wed Sep 16, 2020 9:13 am

Rumours Pure Gold Mining could be the target of a takeover. Now that would be interesting but I'd like to see more price inflation first caused by excellent drilling results, to then get another boom in price.
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Re: Pure Gold Mining - share monitoring

Post by AAAlphaThunder » Thu Sep 17, 2020 6:23 pm

garindan wrote:
Wed Sep 16, 2020 9:13 am
Rumours Pure Gold Mining could be the target of a takeover. Now that would be interesting but I'd like to see more price inflation first caused by excellent drilling results, to then get another boom in price.

17/9/2020 10:07

Appreciate your reply Walter.I would be disappointed at anything less that £5 too.The website is back up and running with no difference to my untrained eye.I'm curious to keep hearing that Mark O'Dea won't let this Company go cheap. Surely it's down to the Shareholders with Mr Sprott and Anglogold Ashanti the potential king makers.. Mr O'Dea has less than 1% I thought... but I'm sure he has the ear and full confidence from Mr Sprott and then we move onto the next in the O'Dea camp -Discovery Metals and potentially bigger silver play...
chrissh @advfn

https://uk.advfn.com/stock-market/london/PUR/share-chat

If it comes to pass, £5 per share would bag the imutual Cashback Investment Club both a handsome profit and a game-changing profit.
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garindan
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Re: Pure Gold Mining - share monitoring

Post by garindan » Sat Sep 19, 2020 10:52 am

garindan wrote:
Wed Sep 09, 2020 11:33 am
We really need to get to grips with what we are going to do with this share.

In my eyes there are two things that need to be established:

- what point we want to sell enough shares to cover the cost of our original holding (£1000) and leave the rest of that purchase amount to do their thing without us experiencing any loss at all

- what exit point are we looking at for the second batch of shares, bought to try and eliminate the losses experienced from the blue chip investments that did not go according to plan? See original post quote below:
garindan wrote:So the deed is done. Details of the purchase are as follows:

Quantity: 573
Buy price: 129.4500p
Commission: £7.50
Total: £749.25
Actual average price inc. commission: 130.8p

Taking the above into account....

Bluechips cost us:£1818.19
Sale funds, including accrued dividends before sale: £737.71 + £251.56 = £989.27
Deficit: £828.92 (45.6%)

Coverting this to Pure Gold Mining target sale price:

-> ~191p - if we target recouping the same percentage as lost from the original investment
-> ~276p - if we target recouping the entire monetary loss from the original investment

If we get to be where we want to be with PGM it is entirely possible any movement from the lower target to the higher target could come quickly, as is the nature of results from gold mining pours. However, we also need to consider that we have the original PGM holding. We need to discuss exactly what our targets are with this too, now we have made this second investment. A new thread will be opened to do this.

Let's see where this takes us - our bravest and boldest move yet.
Can we get some discussion going on what our targets are on this one for our original holding and the second holding purchased after the sale of the bluechips? With a rumoured takeover bid on the horizon (who knows) it would be worth us having thoughts on that and for if that does not happen.
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