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Pure Gold – Pure Bullsh*t As Fat lady Warms Up In The Wings

Pure Gold, of the TSX-V (PGM) and LSE (PUR) has served up a technical report with updated mineral resource which sounds great until you remember that Pure Gold is in the middle of a strategic review and heading for the corporate knackers’ yard without a miracle. And this technical report with updated mineral resource is just pure bullsh*t in my view, aimed at ramping the shares to get another bailout placing away.

EPIC PUR
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Pure Gold – Pure Ramping!

Pure Gold, of the TSX-V (PGM) and the LSE (PUR), updated the market with news that it has achieved record Gold production in August and reaffirmed Q3 guidance, driven (we are told) by record ore throughput and improved grades. The shares are up on the news by 12.6% to 7.6p (still a country mile below the 10.25p at which I said, last April, that it was certainly not one for me – and I am supposed to be a Gold bull!) but there is a massive fly in the ointment.

EPIC PUR
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Pure Gold – Credit Facility and (Uh-Oh) Strategic Review

My ongoing bearishness towards AIM-listed Pure Gold (PUR) continues to bear fruit. I first wrote about the company in April when the shares were 10.25p, having been technically insolvent as at FY21. The shares were ramped up and then came the inevitable dump as the company had a reset with new management. So all was set fair? Er……yesterday we got a strategic review. Uh-Oh.

EPIC PUR
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Pure Gold – We Had The Pump, This Morning The (Massively Discounted) Dump. Where’s My Ouzo?

I commented on April 22nd that AIM-listed Pure Gold (PUR), also of the Toronto parish (PGM), in the wake of the admission that without bailout funding it would essentially be toast, that you should take advantage of the  market’s stupidity (in  marking the shares up to 15.75p) and sell, and that it would be lucky to raise money at more than 10p. And so this morning……

EPIC PUR
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Pure Gold – Or Fool’s Gold?

I am asked what I think of Pure Gold (TSXV:PGM and PUR on the sub-standard list). Obviously as a Gold play it ticks my main box, but is it making any money for its current market capitalisation – according to Google - of C$71 million (around £43 million) which puts it at a similar size to AIM-listed Ariana Resources (AAU) which is currently valued at £52 million.

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