The Globe and Mail/Niall McGee/10-31-2022
“Pure Gold Mining Inc. PGM-X shareholders face losing their entire investment with the junior miner filing for creditor protection after it failed to turn around its gold project in the notoriously hard-to-mine Red Lake district of Northern Ontario.”
USAGOLD note: Owning the shares of gold mining companies is not the same as owning the metal itself – especially if you are looking to gold as a long-term store of value. Pure Gold Mining is a case in point. You do not have to worry about your gold bullion coins going to zero value. We are not opposed to owning shares in mining companies, but we do take exception to their being touted as a substitute for gold coin and bullion ownership.
