Firstgold Corp (fka FGOCQ)

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I just finished reading the PACER doc. I signed up online, it was easy. Here is my take and it is just the opinion I got from reading the transcript.

First – nothing will be determined until May 11, 2010. It looks to me, not all that clearly, like the company is looking to preserve a $40-50MM NOL, preserve Equity, merge with Dura Rock – may be these guys http://www.durarockresources.com/daytonsilver.html -
and raise additional funds to move in another direction.

Scott Dockter:

Mr. Dockter is the company Founder and Chief Executive Officer and has more than 30 years experience in large scale mining and excavation projects. He is extensively connected within the North American mining and investment communities and intimately familiar with all facets of moving projects from grass roots exploration to full scale production. He previously served as the CEO and Chairman of the Board for Firstgold Corp., President of Orion Resource and Exploration, as well as managing partner for ASDI, LLC.

Throughout his career, Mr. Dockter has raised more than $100 million for various public entities and brings a substantial amount of market knowledge and industry experience and credibility.

Firstgold seems to have agreed to let the Creditor, Platinum, have the properties that secured their loans, even though they said that they were in “SERIOUS” negotiations even up to the point of the hearing.

The Judge seemed fine with the proposal, which was agreed on by Platinum and FGOCQ, she just said to come back with everything in writing on May 11, 2010.