PUR share price up 100% in two days

Last Friday we saw PUR release some sampling results from its PGE-nickel-copper project in WA that sits close to Chalice Mining’s Julimar Project.

PUR has now put together a ~700m x 250m gold anomaly and has secured an air core drilling rig that will be used to test this anomaly later this month.

We first announced our investment in PUR in December 2020 hoping to see the company replicate the success Chalice had with its Julimar Project. The gold anomalies are unexpected at this project so we will be watching closely to see what comes of the aircore drilling program later this month.

With the broader market looking relatively strong of late, we suspect the unexpected news from PUR was the reason for the buying over the last two trading days.

At this stage, the auger samples are still far too early to tell if PUR are onto something, but the aircore drilling program should shed some light on what the company has come across.