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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.

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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.

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What is the biggest disgrace to come out of Canada? Justin Trudeau in his Pride socks at the Eid parade (or was it the other way round)? Darren Atwater’s idea of customer service?  The music of Michael Buble? No. It is Pure Gold (PUR), the TSX and London listed dog which has been exposed HERE so many times. Today we have quarterlies to June 30.

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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.

NEWSFLOW

NEWSFLOW

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I commented on April 22^nd 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……

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Having posted my thoughts on sub-Standard-listed Pure Gold (PUR) - dual listed in Toronto (TSXV: PGM) - over the bank holiday weekend, today we had an update from the company. And it was not good - my conclusion at the weekend was that it was more a case of Fool’s Gold than Pure Gold and this morning I was totally vindicated. Is it time for an Ouzo already?

NEWSFLOW

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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.