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RE:Pure Gold Announces C$4.5 Million Bought Deal Private Placem

[dmacd]

We need about $100M to drive the business plan. Bankers might be nervous after the Nemaska fiasco. The minor financing was probably to add some strength to continue progression to allow more time to negotiate the bigger deal.

I would like to see the bankline announced first, and presumeably with cash draw terms that require minimum cash position and construction completion assumptions which will then lead to the share placement. 

Perhaps a convertible debenture with limited upside on the share conversion side. 

The one thing I also want to see if that sufficient contingency is built into the funding. We should have access to more than needed to eliminate risk should we see some unexpected event. 

For sure we need to NOT issue $50M in shares at the current SP. I do not believe management will go down that path if there is a better option. Let's have some faith since they have delivered so far on our expectations, well at least my expectations.