Pure Gold Mining Inc.
PGM.V
Toronto Stock Exchange Ventures0.02
CAD
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Pure Gold Mining Inc.
PGM.V
(Toronto Stock Exchange Ventures)
Recent
price
0.02
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div
yld
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ROIC.AI
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- Business
- Pure Gold Mining Inc. is a Canadian gold mining company focused on the acquisition, exploration, development, and production of gold properties in the Red Lake mining district of Ontario. The company owns and operates the PureGold Mine, a high-grade underground gold mine featuring an 800 tonnes per day processing facility, double ramp access, a 1,275-metre shaft, tailings management facility, and water treatment plant; its principal property encompasses 251 mining leases, mining patents, and unpatented mining claims covering approximately 4,648 hectares near Red Lake, Ontario, with a multi-million-ounce gold endowment and significant exploration potential. Headquartered in Vancouver, Canada, and founded in 2005, Pure Gold Mining conducts operations exclusively in Canada, targeting institutional investors and serving the gold mining sector through its underground production and systematic exploration activities. In 2023, the company completed a major strategic transaction by entering into a definitive Share Purchase Agreement with West Red Lake Gold Mines Ltd., under which it operates as a wholly-owned subsidiary following the acquisition of all issued and outstanding shares; this deal, approved amid Companies' Creditors Arrangement Act proceedings, included cash consideration, share issuance, a 1% net smelter royalty, and a deferred payment, enabling West Red Lake Gold Mines to consolidate control over the Madsen Gold Project area while Pure Gold Mining places its mine under care and maintenance due to prior funding constraints.