Effective from February 17, PureGold appointed Terrence Smith as chief working officer, Bryan Wilson as vp mine normal supervisor of the PureGold mine and promoted Phil Smerchanski to vp of exploration and technical providers.
“PureGold represents a uncommon alternative with all of the makings of a long-life, extremely worthwhile gold mine in a world-class gold-mining district. I’ve been regularly impressed with the standard of the workforce in place and with the expansion potential of the asset, and I look ahead to stepping in to steer the following section of PureGold’s growth,” new COO Smith mentioned.
On January 4, PureGold changed Darin Labrenz with Troy Fierro as president and CEO, and Sean Tetzlaff with Chris Haubrich as chief monetary officer.
The PureGold mine within the Red Lake district of Ontario had had a difficult time since manufacturing started on the finish of 2020.
Gold manufacturing for 2021 stood at 27,437 ounces grading at 4.3 grams per tonne, which was nicely under the 59,000oz grading 7.0g/t that was outlined within the feasibility research for the primary 12 months of manufacturing.
The mine had points with sustaining entry to sufficient high-confidence, high-grade stopes to offer high-grade ore to the mill.
The firm is focusing on manufacturing on the mine within the vary of 600-700 tonnes per day, or 60%-70% of mill capability, for the primary quarter of 2022.
PureGold traded on the Toronto Stock Exchange at C$0.73/share on February 21. Towards the top of 2020, the inventory hit C$2.90/share.
PureGold had a market capitalisation of C$322.07 million.