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Bullboard - Stock Discussion Forum 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... see more

GREY:LRTNF - Post Discussion

Red Lake Madsen Mine Ltd > I think they are doing ok
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Post by timjim0417 on Aug 18, 2021 11:31am

I think they are doing ok

Markets are really volatile right now and pgm has definitely taken a beating but I think sp will recover in a year or 2 while the company pushes through growing pains. If you read their q2 report they mined record 3730 ounces of gold in July * USD 1700 = $6,341,000 USD.
Comment by Welchspring on Aug 18, 2021 12:22pm
You forgot to calculate the approx. cost of production. I believe you can estimate that at over $6,000,000 for 2nd quarter. There not making any profit and will likely be burning up the cash flow.
Comment by givemeabreak1 on Aug 18, 2021 12:22pm
timjim They are mining at a loss and will continue to do so through the 4th quarter.  They do not break even at $1700.
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