"Available" Signs on the PorchMaybe, when the timing is right, GWA can pick up some fire sale assets -- including draft picks from an experienced workforce suddenly adrift -- from the Red Lake gang at Pure Gold (PGM)
Maybe even some ex-Directors with hard earned (totally burned) lessons about the harsh realities of gold mining added to their portfolio, if not rendered toxic by glorifiying their tax losses at the expense of retail. Pure Gold’s biggest shareholder is South African miner AngloGold Ashanti with a 16.5-per-cent stake. Mark O’Dea, Pure Gold’s CEO, has a 2.2-per-cent share. Billionaire resource investor Eric Sprott is the second biggest holder with a 6.7-per-cent stake. “I don’t think I lost $100-million, but it could very well be,” he said.
“At this point in time, the bigger the better, because it’s a tax write-off. Please tell me I lost $100-million or $200-million. I’ll use the tax loss. "
(Globe and Mail 2022 10 31: "Billionaire Eric Sprott says he may have lost $100-million on Pure Gold, as Red Lake miner enters creditor protection")