12th Jul 2022 15:56
Pure Gold Mining Inc - Vancouver-based gold mining company focused on Canada- Finalises several agreements with its lending partner, including a new debt repayment schedule to enhance the company's liquidity and provide financial flexibility. Company agrees to a second amendment for its credit agreement and is provided with an additional USD6 million revolving credit facility. The first four payments will be deferred, creating around CAD12 million of additional liquidity. Company also receives temporary reductions to the minimum cash and minimum working capital ratio covenants.
Pure Gold launches a review process to maximise the value of its PureGold mine in Ontario. Also postpones its guidance update to August in order to better forecast the mine's near-term production. Company focused on achieving positive site-level cash flow by the third quarter of 2022.
Current stock price: 10.30 pence, up 3.0% in London on Tuesday afternoon
12-month change: down 87%
By Heather Rydings; [email protected]
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