Pure Gold Mining (TSXV: PGM) has officially made the transition from explorer to producer, this morning announcing that it has successfully completed its first gold pour from its PureGold Mine in Red Lake, Ontario. The pour was conducted yesterday, with the firm using ore that first began being delivered to the mill at the midpoint of the month.
Following this achievement, the company has indicated that it intends to achieve commercial production by the end of the first quarter of 2021. The company is not focused on optimizing operations on site, with guidance expected to begin being issued at the end of the first quarter.
Despite now being an operational mine, the company has indicated that it intends to continue with aggressive exploration at the PureGold Mine, both surface and underground exploration to continue. The company also intends to update its mineral resource estimate with data from the last two years in 2021, while continuing with improvements to the mine design and plan.
Pure Gold Mining last traded at $2.64 on the TSX Venture.
Information for this briefing was found via Pure Gold Mining and Sedar. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.