LRTNF - Pure Gold Mining: Valuation Becoming An Issue

• Pure Gold Mining is one of the top-performing gold stocks this year with a 170% return year-to-date.
• The company is now less than two months away from pouring its first gold at its Madsen Mine and is expected to have industry-leading costs.
• However, after the sharp rise we've seen in the company's share price, the stock is valued at $280.00/oz, well above the price paid for ounces in Tier-1 jurisdictions during acquisitions.
• Therefore, while I believe there could still be upside long term to this story if we see resource growth or a larger production profile, I see more attractive opportunities elsewhere.

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