Pure Gold Mining is Canada’s newest gold producer

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  • Record month for Pure Gold Mining in August
  • Stifel GMP upgrades Pure Gold Mining rating to ‘Buy’
  • Pure Gold ramping up production at Pure Gold Mine as it starts to show high-grade results
Pure Gold Mining, Inc. -

Quick facts: Pure Gold Mining, Inc.

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PureGold Mining Inc. is a growth company, located in the very heart of Red Lake, Canada. Its objective is to develop a highly profitable long-life gold mining company, becoming Canada’s next iconic gold producer. The company intends to expand organically, and develop PureGold’s multi-million-ounce high-grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.

07 Sep 2021

Pure Gold Mining Inc said it is on track to hit average production of 1,000 tonnes per day in the current quarter after a record-breaking month at the Red Lake mine in August.

There was a single-day record of 1,037 tonnes of ore processed with another record for ore brought to the surface at 2,050 tonnes on 17th August.

Poured ounces of gold totalled 5,535 ounces, another new monthly record.

Pure Gold said the average daily ore throughput was 703tpd over the whole month inclusive of planned downtime to install interstage and trommel screens with 870tpd in the last week.

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16 Aug 2021

Pure Gold Mining Inc said it has achieved a new monthly production record of about 3,730 ounces of gold mined in July from its PureGold Mine in Red Lake, Ontario, a 38% improvement compared to the second-quarter average.

The company also noted that production at its Red Lake operations is expected to increase in 2022, with “significantly” lower cash costs and all-in sustaining costs (AISC), driven by higher grades and throughput coupled with decreased investment in capital development and other sustaining capital programs.

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03 Aug 2021

Pure Gold Mining Inc. has announced that commercial production has been achieved at the PureGold Mine, effective August 1, 2021.

Following a successful commissioning period, the PureGold mine, milling facilities, and other critical systems are now all operating in line with or rapidly approaching design capacity of 800 tonnes of ore per day on a sustainable basis, the company said.

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30 Sep 2021

Pure Gold Mining Inc. has had its rating upgraded to ‘Buy’ and its target price set at C$1.60 by Stifel GMP.

The Canadian full-service brokerage and investment firm cited the company’s recently completed C$23M equity financing which, “significantly improved its balance sheet,” as a catalyst to the upgrade.

Analysts also noted that Pure Gold will benefit from continued growth in gold prices. The yellow metal continues to trade near historical highs and is currently selling for US$1,753 an ounce (oz).

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22 Jul 2021

Pure Gold (CVE: PGM -LON: PUR) CEO Darin Labrenz joined Steve Darling from Proactive to share news the company has really started to ramp up operations at the Pure Gold Mine in Red Lake Ontario. That includes Quarter-to-date, head grades significantly increased compared to the first quarter of 2021.

Labrenz talks about the increase in the second quarter. Labrenz tells Proactive more about the wildfire situation and some good news they have received.

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Pure Gold ramping up production at Pure Gold Mine as it starts to show…

Pure Gold (CVE: PGM -LON: PUR) CEO Darin Labrenz joined Steve Darling from Proactive to share news the company has really started to ramp up operations at the Pure Gold Mine in Red Lake Ontario. That includes Quarter-to-date, head grades significantly increased compared to the first quarter of…

on 22/7/21

6 min read

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