Pure Gold said output fell during the second quarter due in part to cash-preservation measures taken by the company while negotiating financing agreements. For the three months, the PureGold mine in Ontario’s famed Red Lake District saw a reduction in workforce, and the mill was operating at only 50% capacity. Main ramp development remained halted in favour of near-term production.
Mining totalled 40,551 tonnes of ore (an average of 445 tonnes per day) and 85,267 tonnes (an average of 471 tonnes per day) for the first half of 2022. Overall, Pure Gold produced 3,509 oz. during the period and 8,244 oz. for the first half of 2022.
While the company saw a 30% reduction in costs compared to the first quarter, it still booked an operating loss of C$18.5 million and C$41.9 million for the quarter and the half, respectively. The net and comprehensive losses totalled C$20.8 million and C$42.2 million. All figures were higher than their…
