GREY:LRTNF - Post by User
Comment by
goldlocatoron Aug 18, 2021 9:47am
165 Views
Post# 33722714
RE:Could PGM go belly up?
RE:Could PGM go belly up?There is absolutely no comparison between Rubicon and Pure Gold. Rubicon had an initial plan of 1250 tpd and was fully funded and permitted for that. After Adamson left the new CEO tossed all of that and moved forward with a plan that was neither funded or permitted and given the Grassy court case it had zero chance of getting permits for the 1900 tpd. It was the MOECC that shut down Rubicon and not grades. One of their last news releases of 2015 I believe, said they actually slightly exceeded the projected grade from the zone they mined. The TMF was not built to what was required. The MOECC order is available on the internet. Actually the two warnings and the shut down order are available along with the required specs and what was actually built. When Evolution puts it into production again it will be at 1250 tpd since that is still the permitted rate. Mismanagement did in Rubicon.
Pure Gold has had a few problems, none of which I personally get too concerned about, and as usual the market way overreacts. If you are worried about going belly up then sell and move on. Myself I have confidence in the management team and believe in a few months shareholders will be happy.