LRTNF - Pure Gold Mining: Another Disappointing Quarter In Q3
- Pure Gold Mining released its Q3 results last week, reporting quarterly production of ~9,300 ounces and revenue of C$15.9 million.
- These results were well below guidance, and the company posting a significant net loss of C$13.2 million in the period.
- After a 70% decline in the share price, the previous froth is now completely out of the stock, and the valuation has improved to more reasonable levels.
- Having said that, I still don't see much margin of safety here, and the combination of warrant overhang and free cash flow going to debt repayment vs. dividends/buybacks makes Pure Gold an inferior way to play the sector.
For further details see:
Pure Gold Mining: Another Disappointing Quarter In Q3