12:25:45 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Pure Gold Mining Inc
Symbol PGM
Shares Issued 127,811,354
Close 2016-05-27 C$ 0.60
Market Cap C$ 76,686,812
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Kwantes says why to buy Pure Gold Mining

2016-05-27 20:42 ET - In the News

James Kwantes, in the April 30, 2016, edition of Resource Opportunities, tells readers why to buy Pure Gold Mining Inc., recently 53 cents. This is the first time Mr. Kwantes has recommended the stock, but a previous editor of the newsletter, Lawrence Roulston, said buy on July 21, 2014, at 39 cents. A $1,000 investment then is now worth $1,358. Pure Gold is exploring the past-producing Madsen project in the Red Lake area of Ontario. Some of its drill results have been "sweet," drawls Mr. Kwantes, noting highlights such as 1.3 metres of 56.2 grams per tonne gold. Pure Gold's recent preliminary economic assessment showed a net present value of $104-million and an internal rate of return of 74 per cent. A new geological model of Madsen could add further "juice" to the story, says Mr. Kwantes. Most of the past production came from the Austin zone, which was mined to depths below one kilometre. Pure Gold is focusing on the parallel McVeigh zone, which was mined only to 230 metres. The company's geologists have just reported that the widths and grades of the McVeigh mineralization resemble those of the Austin mineralization. As Mr. Kwantes sees it, this discovery "dramatically" expands Madsen's exploration potential.

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