Pure Gold Mining (TSXV: PGM; LSE: PUR) says its growth ambitions are back on track following a somewhat troubled start of production at the namesake mine in Ontario’s storied Red Lake District.
President and CEO Darin Labrenz tells The Northern Miner the company expects to achieve steady-state throughput of around 1,000 tonnes per day at the planned reserve grade for the scheduled production of about 80,000 ounces a year in mid-2022.
The company is also planning a sizeable exploration programme to follow up and expand on the encouraging results reported throughout the year, including near-term mine production from both the Main Ramp and the East Ramp areas.
Listen to Labrenz explain how the company overcame critical challenges this year and why he views 2022 as pivotal for the PureGold operation.
While Pure Gold’s Toronto-quoted equity has come off recent 12-month lows, it is still down more than 71% at 75c, which capitalizes it at $329.17 million (US$257.05 million).
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