Mining the Northwest: Former Pure Gold shareholders take management to task over Red Lake fiasco – by Ian Ross (Northern Ontario Business – January 12, 2024)

Investors of insolvent gold mining company expanding class action suit

The former management team and underwriters of a collapsed Red Lake gold mining company are being held to account by out-of-pocket shareholders.

A proposed securities class action suit filed in the Supreme Court of British Columbia against the former directors and officers of Pure Gold Mining of Vancouver is being expanded to seeking compensation for damages and losses incurred from their investments in Pure Gold Mining.

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Red Lake Camp keeps giving as Frank Giustra-backed explorer hits bonanza gold – by Henry Lazenby (Northern Miner – September 12, 2023)

Industry financier Frank Giustra’s first foray into gold exploration struck it big Tuesday, reporting bonanza gold grades of more than a kilogram per tonne at its Rowan property in the fabled Red Lake Camp of Ontario.

West Red Lake Gold Mines (TSXV: WRLG; US-OTC: WRLGF) reported Tuesday that hole RLG-23-163B cut 70.8 grams gold per tonne over 8.3 meters, including a segment of 0.5-meter grading 1,120.19 grams gold per tonne.

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Back Roads Bill: Red Lake, gold country and other gems – by Bill Steer ( – September 9, 2023)

This week Bill, as a tourist, takes us to Red Lake – like other Northern Ontario communities it has its share of gems

When you leave home and travel a short distance away from your usual routine you become a tourist. When you poke around you find interesting stops as you, yet again, visit another Northern Ontario community.

One example is Red Lake a long way to go almost at the end of the road. There is the natural and cultural heritage of the area, the real gems to be found and appreciated on the back roads and waters. There is more than a handful of “neat things” to discover.

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Mining the Northwest: West Red Lake Gold Mines taking a deep dive at the Madsen Mine – by Ian Ross (Northern Ontario Business – August 18, 2023)

Frank Giustra-backed upstart company more than a year away from Red Lake mine restart

Shane Williams and West Red Lake Gold Mines are in no big rush to put the dormant Madsen Mine back into production. The Vancouver gold company intends to take a methodical approach to set things right and deep dive into the deposit before resuming production at the shuttered underground mine, southwest of the town of Red Lake.

Months and months of underground drilling is on the docket to get a more accurate picture of the ore body and a better impression of the area’s geology, before they’ll even entertain the thought of a restart.

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Sale of Red Lake mine could begin this week – by Ian Ross (Northern Ontario Business – November 8, 2022)

Many bidders could show interest in shuttered Red Lake mine should court approve sales process

Pure Gold Mining could have the ‘For Sale’ sign out for its Red Lake mine as early as Thursday. The insolvent Vancouver gold company, now under creditor protection, heads to a B.C. court Nov. 9 to petition for the sales process to begin immediately of its underground mine, processing mill and 4,600 hectares of gold property.

According to recent court documents, the company is asking for a stay of proceedings until Jan. 27, 2023 and permission to start the sales and investment solicitation process (SISP). National Bank Financial will be the sales agent.

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Pure Gold’s Red Lake mine poised to go on the selling block – by Ian Ross (Northern Ontario Business – November 2, 2022)

CCAA court documents show mine supply and service companies owed $16 million

With only a $260,000 cash balance at the end, insolvent Pure Gold Mining has started the process of finding a new buyer or deep-pocketed investor for its Red Lake mine and mill operation.

Facing an “imminent” cash crisis, unable to raise any outside financing, and plagued by “operational challenges,” the Vancouver mining company called a halt to operations Oct. 24 and was granted creditor protection by the B.C. Supreme Court under the Companies’ Creditor Arrangement Act on Oct. 31.

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Tough lessons for Pure Gold in Red Lake – by Ian Ross (Northern Ontario Business – August 18, 2022)

“We paid the price for that,” says company CEO in positioning the northwestern Ontario mine for late 2022 turnaround

Pure Gold Mining president-CEO Mark O’Dea offered a simple explanation for last year’s stumbling production start at its Red Lake mine. The company began mining at the wrong end of the deposit.

The Vancouver gold miner delivered a conference call update this week on its second quarter results and the progress made at its namesake mine after embarking on an operational “turn-around” process last January.

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Red Lake mine could be on the selling block – by Staff (Northern Ontario Business – July 13, 2022)

PureGold Mining launches strategic review of its underperforming mine

The “turnaround plan” for a struggling Red Lake gold mine may include a sale of the company and its underground operation in northwestern Ontario.

PureGold Mining has initiated a strategic review process that could involve a potential sale or merger of the company, a sale of all or part of its mine, or other long-term financing options. It’s been a steep decline for the Vancouver-based mining startup company.

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Mining the Northwest: Red Lake ramps up for gold mine expansions – by Staff (Northern Ontario Business – July 8, 2022)

Australia’s Evolution Mining preparing to pump millions into expanding gold zones, mill upgrades

Gold prices were slumping in July to a six-month low at US$1,730, but mining and advanced exploration activity is intensifying in the Red Lake mining camp. Evolution Mining plans to spend between $120 million and $135 million this year on development and upgrades at its Red Lake mine complex.

The Australian gold company has ambitious plans to boost gold production by 65 per cent in the northwestern Ontario camp over the next two to three years. “We know that all eyes are on Red Lake,” said Jake Klein, Evolution Mining’s executive chairman, in delivering a business update on its worldwide operations, June 27.

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Red Lake gold miner turns to Tony Makuch for help – by Staff (Northern Ontario Business – May 7, 2022)

PureGold Mining hires former Kirkland Lake Gold CEO as technical advisor

A struggling Red Lake gold mining company has turned to a well-respected mining veteran and company builder for help to get back on track. PureGold Mining is bringing former Kirkland Lake Gold CEO Tony Makuch aboard as a technical advisor.

Barely a year into commercial production, the company is struggling financially and operationally to get the former Madsen Mine complex into top gear. The former president-CEO of Kirkland Lake Gold, who resigned that post in February, will provide input on mining activities, development strategies, exploration efforts and organizational efficiencies.

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Chris Taylor is our Mining Person of the Year for 2021 – by Trish Saywell (Northern Miner – March 2, 2022)

Great Bear Resources president and CEO Chris Taylor was the stand-out choice for The Northern Miner’s Mining Person of the Year award for 2021.

The 44-year-old structural and economic geologist not only sold the company and its Dixie gold project in Ontario’s Red Lake district to Kinross Gold in December for $1.8 billion, but in the three years of due diligence leading up to the acquisition, Taylor and his team also managed to set off what he calls the “largest staking rush” in Red Lake’s history.

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Kinross on defensive after $1.8-billion bid for Red Lake gold development company Great Bear Resources – by Niall McGee (Globe and Mail – December 10, 2021)

Kinross Gold Corp.’s planned acquisition of Great Bear Resources Ltd. has landed with a thud, over widespread concern from investors that it may be overpaying for a development company with no gold reserves, and could even be opening itself up to a hostile takeover.

Toronto-based Kinross said in a news release late Wednesday that it had reached a friendly arrangement to acquire Great Bear for $29 a share in cash and stock, a 26.5-per-cent premium to its market price, in a transaction worth $1.8-billion.

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NEWS RELEASE: Kinross announces acquisition of Great Bear Resources (December 08, 2021)

Flagship Dixie project in Northern Ontario has significant potential to become a top tier, large-scale operation

(This news release contains forward-looking information about expected future events and performance of the Company. We refer to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located at the end of this release.)

TORONTO, Dec. 08, 2021 (GLOBE NEWSWIRE) — Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” or the “Company”) is pleased to announce today that it has entered into a definitive agreement (the “Agreement”) with Great Bear Resources Ltd. (TSX-V:GBR) (“Great Bear”) to acquire all of the issued and outstanding shares of Great Bear through a plan of arrangement (the “Transaction”).

Through the Transaction, Kinross will acquire Great Bear’s flagship Dixie project located in the renowned and prolific Red Lake mining district in Ontario, Canada. The Dixie project is one of the most exciting recent gold discoveries globally and extensive drilling results have shown the characteristics of a top tier deposit.

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The Evolution of the Red Lake Gold Mining Camp (Mining Life & Exploration News – October 2021)

The historic Red Lake Gold Mining district is evolving again into a premier goldmining district in Northern Ontario after a decade long decline – leading the reinvigorated Red Lake mining scene is the appropriately named Evolution Mining.

In the two years since Evolution Mining bought the gold mining assets from Newmont Goldcorp in 2019, the Australian-based company has helped to revive, the dormant mining district with its pledge to keep on investing in the area.

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Pure Gold stumbles in Ontario’s notoriously tricky-to-mine Red Lake mining district – by Niall McGee (Globe and Mail – September 23, 2021)

Pure Gold Inc. is struggling to produce gold at a profit, the latest junior to encounter technical problems in Ontario’s notoriously tricky-to-mine Red Lake region.

The Vancouver-based gold miner, which is backed by industry heavyweights such as Eric Sprott and Robert McEwen, has experienced a slew of issues underground since starting up its Madsen mine in Red Lake, about 550 kilometres northwest of Thunder Bay.

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