Pure Gold Mining applies for creditor protection a week after suspending its underground mining operations in Ontario. Read on
operations at its mine in Red Lake, Ont., about 100 kilometres from the Manitoba border, because it wasn’t able to obtain the financing needed to continue production and other activities. It also withdrew its production guidance for the fourth quarter.Article content
Pure Gold changed its leadership team in early 2022 and tried to recover by cutting costs and improving operations and financial results.said it would need about $50 million in six months for its operations. The company’s share price closed 40 per cent lower on the day that announcement was made, and it continued to fall.Article content
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