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Pure Gold Mining Inc - Vancouver-based gold mining company focused on Canada - Achieves gold production guidance for the third quarter of 2022 at its 100%-owned PureGold mine in Ontario, Canada. Produces 9,041 ounces of gold in the quarter at a head grade of 4.5 grams per tonne. Processes 66,042 tonnes of ore, below guidance, however. Blames nine unexpected days of lost production due to downtime of the contract crusher and an issue with automation control electronics in the mill. Production costs are expected between $9.5 million and $10.5 million per month, in line with previous guidance. Company expects costs to trend downwards through the fourth quarter.
In the fourth quarter, Pure Gold expects to produce between 9,000 and 12,500 ounces of gold. Head grade expected between 4.25 and 5.25 grams per tonne of gold. Ore processed expected between 69,000 and 78,200 tonnes. Adds it remains on track to deliver a new pre-feasibility study in the final quarter.
Current stock price: 9.30 pence
12-month change: down 82%
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