Red Lake Madsen Mine Ltd LRTNF

Metals & Mining Gold

Pure Gold Mining Inc is a gold mining company, located in the heart of Red Lake, Ontario, Canada. Its vision is pure and simple, to build a profitable, multi-generational growth company in the world-class gold mining district of Red Lake. With 100%-owned, fully constructed operating PureGold Mine, a multi-million-ounce gold endowment, and significant exploration upside, the company's value-maximizing strategy is to pursue operational excellence, while investing in systematic exploration and phased expansions to fuel discovery and growth for the future.

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Red Lake Madsen Mine Ltd > Kinross

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Comment by Nick2021on Apr 10, 2022 12:32am

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Post# 34591453

RE:RE:RE:Kinross

Pure Gold Mining is one of the occasional tales that brings to mind the old Mark Twain quote: a gold mine is a hole in the ground with a liar standing over it. This stuff happens once in a while in this sector -- right now I have too much of my money tied up in Rio2, and this has reminded me of what can happen when you invest in a junior miner who hasn't established stable production yet. You buy a story, and the story can go wrong. When it does go wrong, there's no way out, and all the things you told yourself about management, institutional support, going to be picked up by a major, exploration upside, simple mine build, all turn out to be fantasies.

PGM's problem right now is the increasingly positive investment thesis for miners. When things are tending to go up, why buy a dog of a company that's at risk of Chapter 11? The times when you make money in this sector are rare, and they happen fast. Right now when one is happening, why would you want to park your money in a company where the downside is total loss, and the upside extremely limited?

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Advancing an underexplored area of the Yukon with the same geology as B.C’.s Golden Triangle