LRTNF - Pure Gold: Grades Improving But Still Set Up For A Sub-50000 Ounce Year
- Pure Gold Mining released its Q1 results earlier this month, reporting quarterly gold production of ~4,200 ounces and revenue of $5.5 million.
- The company is still in the pre-commercial production stage, and should see much higher production throughout the year as grades and throughput increase.
- However, while grades have improved from Q1 levels based on the most recent report, Pure Gold continues to look expensive, valued at nearly ~$700.00 per reserve ounce.
- For this reason, I continue to see much, much better opportunities elsewhere, and I would view any rallies above US$1.70 as an opportunity to book some profits.
For further details see:
Pure Gold: Grades Improving, But Still Set Up For A Sub-50,000 Ounce Year