Now, due to strong demand, the firm has agreed to increase the size of the offering to 9,868,400 flow-through common shares for aggregate gross proceeds of CAD 14,999,968.
The firm said “the reserve grade from the 2019 Feasibility Study2 is 9.0 g/t gold for the life-of-mine, with average annual grades ranging from 6.3 g/t gold to 13.7 g/t gold, and a projected grade for year one of operations of 7.0 g/t gold.
In Q4 2020 the Pure Gold processed 3,535 tonnes of ore at a grade of 7.8 g/t gold to produce 860 ounces at a 96.6% recovery rate.
This has obviously been helped by the rise in the gold price but also the change in outlook from the company, there are two key levels to keep an eye on now.