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Pure Gold Mining Inc - Vancouver-based gold mining company focused on Canada- Finalises several agreements with its lending partner, including a new debt repayment schedule to enhance the company's liquidity and provide financial flexibility. Company agrees to a second amendment for its credit agreement and is provided with an additional $6 million revolving credit facility. The first four payments will be deferred, creating around C$12 million of additional liquidity. Company also receives temporary reductions to the minimum cash and minimum working capital ratio covenants.
Pure Gold launches a review process to maximise the value of its PureGold mine in Ontario. Also postpones its guidance update to August in order to better forecast the mine's near-term production. Company focused on achieving positive site-level cash flow by the third quarter of 2022.
Current stock price: 10.30 pence, up 3.0% in London on Tuesday afternoon
12-month change: down 87%
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