Pure Gold Mining Inc. (TSXV: PGM) reported this morning its production updates and major changes in the executive team. The firm announced a quarterly production of 7,657 gold ounces in Q4 2021, a dip from its Q3 2021 production of 9,260 ounces.
The mining firm processed a total 51,129 tonnes for the quarter (556 tonnes per day), also a decrease from last quarter’s 63,029 tonnes (685 tonnes per day). Average head grade came in at 4.9 g/t gold with recovery rates of 95.3%.
The company also announced executive management changes “which better align operational requirements with professional expertise.” One of the firm’s directors, Troy Fierro, replaced President and CEO Darin Labrenz–who is also stepping down from the board.
“Today’s changes are consistent with the Company’s transition to a culture of operational excellence,” said Fierro. “As the PureGold Mine continues to evolve and grow, so too does the repertoire of skills needed in our executive leadership team to ensure ongoing success.”
Other management shuffles include Vice President for Business Development Chris Haubrich replacing CFO Sean Tetzlaff and Corporate Controller Ashley Kates being promoted to Vice President for Finance & Corporate Secretary. All appointments were effective as of January 1, 2022.
The mining company is targeting a daily throughput of 600 – 700 tonnes per day and expecting average head grades between 5.0 and 7.0 g/t gold in Q1 2022.
Pure Gold Mining last traded at $0.68 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. 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.
