PureGold publishes operations update and 2Q22 results

So far during the third quarter, both costs and revenues are trending in the right direction on a sequential quarterly basis, due to the groundwork laid in the first and second quarters. As a result, the company forecasts the mine to deliver positive site-level cash flow in the third quarter, achieving a previously stated objective.

Moreover, a team of multidisciplinary consultants led by SRK Consulting (Canada) Inc. remains on track to complete an updated Life of Mine plan and a new pre-feasibility study (PFS) in 4Q22, based on the recently announced updated mineral resource estimate (MRE). The company is working collaboratively with SRK to ensure a smooth integration beginning in 2023 of the new life of mine (LOM) plan into the mine’s existing planning system.

Terry Smith, PureGold Chief Operating Officer, stated:

“Over the last six months we have advanced in four key areas to expedite our future success. We have a solid resource model we can use for long-term planning; a revamped short-term planning process to drive execution; a lower operating cost base to generate cash flow; and most importantly, an emerging culture of safety and performance.

“Mid-way through the third quarter, we are combining these elements into stronger gold production, most notably with a year-to-date record gold pour just last week. We hope to break that record again very soon, and that the SRK resource model will help light the way to grow production in our upcoming PFS.”

Read the article online at: https://www.globalminingreview.com/mining/16082022/puregold-publishes-operations-update-and-2q22-results/