Welcome to our little corner of..... LOL I'd noticed over the weekend you'd joined our little clan.
I'm old school...any penny stock which is under $3/sh is a trader, no questions asked. Some place that threshhold at $5/sh, because it becomes eligible for margin above the $5 mark, depending upon the exchange.
Anyone that stays too long in an illiquid stock "trade" as a trader, suddenly becomes "an investor" (as the old saying goes.) There are a LOT of traders/now investors hung in this stock hoping for the next big tsunami to float their behinds into the land of milk and honey, lala land profits.
As far as "the score?" That depends upon who you ask I reckon.
The following is my opinion based upon my observations and understandings of filings and other DD.
This is a public company being run for the benefit of an inner core few, who hold approximately 68% of the stock. And it is being run as such.
Today is a great example of the exercise of said fiefdom power...the chart painting that goes on in this stock is textbook, such as today's 80K buy on the close more or less in support of the "new support level" desired by the insiders of $0.40 per share.
The true value of this company in my opinion is 14c a share at this stage of their publicly disclosed execution of strategy and milestone achievements. I've stated that before and my reasons why, as well, on this forum.
The company's most recent EDGAR filing S-1/A is chock full of little nuggets of forward looking statements. In it you will find that all talk of production is now pushed out into 2015 sometime. I'm on record before that release that shareholders would most probably not see production for at least 3 years.
That is a change of course, from the prior guidance of 4Q2013.
In that S-1/A will you not only find that one of the "angels" didn't file reports (5x in 2013), he was also listed as late (in filings on 6 others ocasions. Alfers gets points on the filing for said candor about B.Honig.
Their monthly cash burn is indicative of a fiefdom mentality.
The two angels on the board don't give a flying fig about the rest of the shareholders.
This company has too much management for the very little results they are showing for all the money burned.
This company OVERPAYS ALFERS and has since the gitgo.
I detailed ALFERS ludicrous compensation package since day one and compared it to three other BIGGIES in the mining space.
Oh, and don't forget, they have approved TWICE now, a reverse split. This one on the come is an even larger reverse split than the first authorized one.
This thread details the ups and downs pretty well.
If I were to suggest something positive for you to use as a birddog in this stock, it would be buy when the new VP of Permits buys...Debra Struhsacker. She's sitting on the choke point of information flow, and a smart old broad from the looks of her CV.
She sure got to them for a nice chunk o'change as a consultant, B4they made her part of the BoD, complete with options pkg, etc.
I think her total holdings are currently around a cool million shares. Bully for her.
This bunch in long on talk and short on keeping forward looking targets based on their own timelines. Their BoD is headed by a psychatrist of all things. Now THERE is mining industry experience for you.
They are famous for using Peter Epstein (aka potandgold on this board, and mockingjay66 on another forum, and other aliai) as a loyal mouthpiece for responding to chatboard critiques of their "ways of doing things" such as missing deadlines, and pushing out target deadlines, etc. Strange way for corporate communications wouldn't you agree? We even hear about "positive drill results" THROUGH Peter before the company officially releases them. Go figure.
They sure cranked up the noise volume when one outfit dumped 10Mil shares in Nov/Dec which Honig bought-unabashedly trying to support the stock, as well as the last failed PP which Honig also bought 96%+ of when. Yes, no one else would plunk down their money. They've hired an old Boston based firm to do the "financing search" for them, a firm which holds only 50% more in total money under management than ole Barry H has invested in PGLC alone!!!! I haven't seen a rush to PGLC's front door to get in on this "deal of the century."
Good luck if you are a trader, catching the next Tsunami Wave...in the high Nevada desert, of course. LOL
