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PGOL looks like more than just a simple run from the tape, action, chart, hit 52wkhi .14, great EOD signals now .125 back up/ASK
http://stockcharts.com/c-sc/sc?s=PGOL&p=d&b=5&g=0&id=p17970548896
25% share in CSQ's mine - big #'s out today - fair value 25c currently based on CSQ's 0.38 price
GAME CHANGER!!! NEWS!
remeber this news:
http://www.marketwire.com/press-release/canamex-announces-property-transaction-concurrent-financing-application-reinstatement-tsx-venture-csq.h-1269973.htm
TODAY CSQ on the TSX.v made 300% to a 40 million FD marketcap on this amazing drill results
Canamex Intersects 360 Feet of 0.119 Oz/Ton Gold (118 Meters of 4.08 G/Tonne) Including 5 Feet of 3.864 Oz/Ton (1.6 Meters of 132.5 g/t) at Bruner Gold Project, Nevada
http://www.marketwire.com/press-release/canamex-intersects-360-feet-0119-oz-ton-gold-118-meters-408-g-tonne-including-5-feet-tsx-venture-csq-1681170.htm
25% ARE STILL OWNED ACC to latest fillings by Patroit Gold. even if management doesn`t manage to get traded on the TSX.V as well CSQ will come and byu them out to get 100% of burner property...
one word: game changer
Hmm.. why the sudden action out of nowhere? PGOL>>>>>
Patriot Gold Corp.
Based: Las Vegas.
Market/stock ticker: PGOL.
Exploring: Moss Mine 10 miles east of Bullhead City. It formed a joint venture with Northern Vertex in March and reports it has completed 59 drill holes.
Notes: The company got a letter last April from regulators indicating that it was using inappropriate language to describe its mineral resources and was directed to restate its report using SEC-approved terms.
http://www.usatoday.com/USCP/PNI/MONEY/2011-12-25-PNI1225biz-small-minersART_ST_U.htm
Significant Gold-Silver Resource Identified
The systematic drilling and development program was met with success at virtually every turn. A recently released 43-101 Independent Resource Calculation conducted by the engineering firm Scott E. Wilson Consulting, Inc. now pegs the total indicated and inferred resource at Moss at 590,400 Gold Equivalent ounces (483,792 indicated ounces and 106,628 inferred ounces; see SEWC chart).
http://northernvertex.com/moss.html
350K in bids sitting at .052... somethings up!
must be some news coming this way....:) gold took a big dip this morning and recovered nicely
Ready to move here...
i was just showing that pgol is a viable acquisition and developing mining company according to the state of Arizona, this is one of the latest news release
http://www.marketwatch.com/story/patriot-gold-moss-gold-silver-project-phase-ii-program-initiated-2011-12-14
any mining company that is not a producer is a risk to invest in, with that said, they can lease the property for revenue to other company's that are producers, the ss has not changed in 6 years, O/S in that time period has been 26,224,400 and in 2005 it was 29,279,400
http://www.sec.gov/Archives/edgar/data/1080448/000093980212000008/form10q113011.htm
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&filenum=000-32919&type=&dateb=&owner=exclude&start=0&count=40
Please explain what your post regarding gold in Arizona has to do with PGOL! Further, that article is 6 years old, ancient in the recent progress of many Arizona mining companies. Is PGOL now looking for copper too?
PGOL is still an exploration company out there looking for minerals and has been since 2000.
Since June 1, 2000, the time when the Company entered into the mineral extraction industry, the Company has been in the exploration state. The Company has not realized any revenue from its present operations. During the six month period ended November 30, 2011, the Company incurred a net operating loss of $259,259. During the year ended May 31, 2011, the Company incurred a net operating gain of $74,259 as a result of a nonrefundable payment of $500,000 made by Idaho State Gold Company, LLC pursuant to the terms of the Exploration and Option to Enter Joint Venture Agreement Moss Mine Project. As of November 30, 2011, the Company had an accumulated deficit of $25,940,831.
Over the next twelve months, the Company intends to explore various properties to determine whether they contain commercially exploitable reserves of gold and silver or other metals. The Company does not intend to hire any employees or to make any purchases of equipment over the next twelve months, as it intends to rely upon outside consultants to provide all the tools needed for the exploratory work being conducted.
Current cash on hand is sufficient for all of the Company’s commitments for the next 12 months. We anticipate that the additional funding that we require in the future will be in the form of equity financing from the sale of our common stock.
AKA - Convertible notes that mean dilution.
However, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund additional phases of the exploration program, should we decide to proceed. We believe that debt financing may not be an alternative for funding any further phases in our exploration program. The risky nature of this enterprise and lack of tangible assets places debt financing beyond the
credit-worthiness required by most banks or typical investors of corporate debt until such time as an economically viable mine can be demonstrated. We do not have any arrangements in place for any future equity financing
The Moss Property consists of 104 unpatented claims and 15 patented claims. The property is located in Mohave County, Arizona. The property has been acquired from various individuals and on various dates between November 2003 and January 2005. The costs have been expensed to mining costs on the Consolidated Statement of Operations during the periods incurred. The Moss Property agreements do not require on-going property payments or minimum annual exploration expenditures.
For the six month period ended November 30, 2011, the Company incurred $24,577 in exploration costs for these properties. Since the inception of these Agreements, the Company has incurred $880,384 in exploration expenses and $775,000 in option and acquisition costs related to these properties for a total of $1,655,384.
Net cash flows used in operating activities during the six months ended November 30, 2011 were $255,885 compared to $225,426 during the six months ended November 30, 2010. The increase was due to a larger net loss in the six months ended November 30, 2011 of $259,259 compared to the net loss of $228,526 in the six months ended November 30, 2010. There were no financing activities for either the six months ended November 30, 2011 or 2010.
http://app.quotemedia.com/quotetools/showFiling.go?webmasterId=89753&name=PATRIOT%20GOLD%20CORP:%2010-Q,%20Sub-Doc%201&link=http%3A//quotemedia.10kwizard.com/filing.xml%3Frid%3D23%26ipage%3D8000714%26DSEQ%3D1%26SQDESC%3DSECTION_BODY%26doc%3D1&cp=off&type=HTML
Mining in Arizona
The Southwest is the United States’ richest storehouse of metals and industrial minerals and is
likely to remain so for many years. Arizona ranked first in mineral production in the US in 2006 with
a production value of $6.7 billion according to preliminary unpublished figures of the USGS. Arizona
leads the Nation in copper and ranked 2nd in molybdenum and sand and gravel production. It ranks in
the top five in gemstones, perlite, silver, zeolites, and pumice. Additionally, Arizona produces, or has
produced, zinc, lead, beryllium, vanadium, uranium, tungsten, rare earths, manganese, coal, and at
least 18 varieties of industrial minerals.
In 2005, Arizona accounted for 62 percent of the U.S. copper production. The copper industry has
a $3.5 billion direct and indirect impact on the Arizona economy. Arizona’s two largest copper producers,
Asarco Inc., and Phelps Dodge also produce significant amounts of molybdenum, gold, and silver as
byproducts in the production of copper. Phelps Dodge’s Morenci mine produced 815 million pounds of
copper in 2006, it has the largest EW plant in the world, and is one of the world’s largest copper mines.
Exploration and development increased significantly, coincident with the strong metal prices. This
was especially true for copper and molybdenum as those commodities have recently been at record prices
and also for uranium reaching an all time high. A newly discovered porphyry copper deposit may be the
largest copper deposit in North America. Resolution Copper, a joint venture of Rio Tinto and BHP
Billiton, owns the deposit that has at least 1.25 billion tons of mineralization at 1.25 percent or better
copper. In 2007, Phelps Dodge will begin operating the first commercial scale copper concentration
pressure leach direct electrowinning plant at Morenci, where production of concentrates resumed in 2006.
Construction of the Safford Project began mid 2006 following approval by Phelps Dodge’s board.
Expenditures of $500 million are expected to build 2 pits, Dos Pobres and San Juan and a massive
leaching complex. When complete in the second half of 2008 the project will produce 250 million pounds
of copper a year. Quadra’s board approved financing of the Carlota copper leach project and construction
should begin in 2007.
Although gold takes a backseat to copper production, Arizona has produced over 16 million
ounces. American Bonanza Gold Mining recently completed a surface and underground drilling program
at Copperstone that defined a resource of over 330,000 ounces of gold.
Gold
Description: Arizona’s cumulative gold production exceeds 16 million ounces contributed from
219 metallic mineral districts. Twenty-six of those districts have produced more than 100,000 ounces and
46 have produced more than 10,000 ounces. Gold recovery has been from a wide variety of deposit model
types with the most important being epithermal (quartz adularia) veins, the more recently recognized
detachment fault-associated deposits, porphyry copper, and volcanogenic massive sulfide. Economic
deposits have formed during four widely diverse geologic periods: Proterozoic, Jurassic, Laramide and
Mid-Tertiary.
History:
Recent primary producers include:
Copperstone - produced 500,000 oz, McCabe
(Gladstone), Verdestone, Congress, and Gold Road, the last to operate, closed in 1998.
Resources:
A number of deposits with potential to produce a few hundred thousand ounces or more
have been awaiting a period of higher prices for their development to occur. These include Yarnell,
Newsboy, Moss, Mexican Hat, Tiger, Golden Eagle and Copperstone underground.
Current Activity:
Copperstone - American Bonanza completed a 40,000-meter drill program at
the detachment hosted Copperstone deposit and in February 2006 announced NI43-101 compliant
resource of 330,000 ounces of gold. In July a program was announced to test 10 geophysical and
structural step-out targets, zones that have the potential of adding significant new tonnage to the existing
mineralization. The initial drilling phase planned an estimated 75,000 feet of RC drilling in 50 holes. Six
of the targets tested returned results that warrant follow-up drilling. On a parallel path with the
exploration program, Bonanza has collected environmental, geotechnical, hydrological and metallurgical
baseline data to support mine permitting and project design. Bonanza plans to expand the mineral
resource before making a production decision.
Other properties:
Columbus Gold is
exploring four projects in western Arizona: Clara
Moro, Burnt Well, Silver District and Clanton H
The company’s exploration work and project
generation activities are carried out by Cordex
Exploration. Patriot Gold resumed drilling on the
Moss mine in the Oatman district. Further north in
the Black Mountains the Van Deeman was o
by Tonogold Resources. Teryl Resources optioned
the Gold Hill patented claims and conducted
reconnaissance sampling along fault structures. O
the predominately silver Hardshell property,
Wildcat Resources re-assayed cuttings and plans
drilling to confirm previous Asarco resources.
http://www.admmr.state.az.us/Publications/ofr07-24.pdf
Along the southern extension of the Walker Lane and south of Oatman lies the Copperstone Mine. The
mine was operated by Cyprus Minerals and produced 500,000 ounces of gold during the period 1987 to
1993. Total mine production was 6 million tons at a grade of 0.09 OPT gold. Gold recovery for the life of
mine was 89%. Following the mine closure in 1993, Cyprus reclaimed the tailings ponds and removed
the carbon-in-pulp mill. American Bonanza Gold Corp. acquired the mine in the 1990s and has recently
completed positive feasibility studies for extracting 46,000 ounces gold per year from reserves which
includes 256,000 ounces of gold in proven and probable reserves and 313,000 ounces of gold in inferred
resources. Permitting is expected to be completed in 2011.
American Bonanza Gold Corp. has also acquired prospective properties surrounding and including the
Oatman Amalgamated Mine in the Oatman district. This area is reportedly at the intersection of the
Gold Road and Tom Reed veins. Ongoing exploration efforts include deposit modeling using modern
techniques and proposed drilling campaigns.
http://www.patriotgoldcorp.com/projects.php
The gold rally will only help those companies that are currently producing gold.
The only gold PGOL is going to find in Arizona and Nevada is in the casinos and they will really need to get lucky!
PGOL is mentioned in this article.
Mining firms in Arizona seek riches
Investors face long odds in quest for mineral profits
by Ryan Randazzo - Dec. 24, 2011 05:53 PM
The Arizona Republic
Arizona is the top copper producer in the U.S., but several small-time geologists and entrepreneurs combing the rocky desert in hopes of finding the next bonanza don't produce any minerals at all.
Many exploration companies prospecting in Arizona hope to raise money through the stock markets to take investors along on their risky hunt for mineral profits.
They might have historical maps of their mines, ore samples, assay reports and other data, but almost none have a shovel in the ground.
Exploration companies face extremely long odds of finding minerals that big firms have overlooked and raising the money to dig for them, but they persist on the small chance they could strike it rich.
"It is definitely a risky form of investment," said Daniel Bleak of Mesa, who has been involved in several exploration ventures, most recently Silver Horn Mining Ltd., which has stock traded on the over-the-counter market. "It is a long shot. It is just like the old oil fields."
The exploration companies make up a niche somewhere between the weekend gold panners and the global miners such as Freeport-McMoRan Copper & Gold and Asarco, which run the state's big mines.
Some are run from home offices, and most trade on the over-the-counter or Canadian stock markets.
Most of them are trying to restart mines that have been closed for decades in hopes the prior operators left some metal in the ground or simply stopped mining because of a lull in metals prices and that the ore might be valuable in today's market.
Many of these exploration companies spend millions of dollars in investor money trying to develop a project, only to sell it to another small exploration company or drop it altogether when it's deemed uneconomical.
It takes tens of millions of dollars to drill sample holes, conduct geological mapping and other background work before millions of dollars more in equipment can be purchased to begin digging a mine. And that is assuming that environmental permitting and entitlements to the land go smoothly.
But every now and again, one of the junior companies will make good. One recent example is American Bonanza Gold Corp. of Canada, which after several years of preliminary work and millions of dollars spent on mining equipment, has restarted the Copperstone Mine in La Paz County between Quartzsite and Parker.
A ways to go
Silver Horn, like many of the Stage I companies, hasn't gotten much further than finding historical mines and trying to raise money to drill them to test for minerals.
It has burned through about $5 million since April, when the owners of a publicly traded company called Eclips Media Technologies Inc. used that operation as a shell to acquire Silver Horn, hire Bleak and redirect the company's focus to mining.
Since then, Bleak has been trying to develop claims northwest of Phoenix known as the 76 and Tip Top mines, which produced silver in the late 1800s but are a ghost town today. The area was briefly mined in the 1930s for tungsten, and another mining company explored there in the 1980s but abandoned the project.
Now Bleak is trying to find out whether the project could be economical again.
"We know it was rich, but is it big enough?" he said. "The Tip Top and 76 still show some potential, but now we wouldn't say there is an economic mine there."
Bleak said he also got close to raising the investment needed to drill additional exploratory holes at a project known as the C.O.D. mine near Chloride in Mohave County but is tied up in a legal dispute regarding who first staked the claim.
Bleak said his goal is to find a viable mine and raise the capital to develop it.
"Is it possible? Yes," he said. "Does it take a lot of money? Yes. Are there people willing to risk that? There are."
Investors warned
Many of the people willing to risk their investments on exploration mining in Arizona contact Nyal Niemuth, the Phoenix branch manager for the Arizona Geological Survey.
The agency keeps a large collection of maps, some of them hand-drawn and more than 100 years old, for the major mineral districts in Arizona.
These maps show the tunnels dug for mines such as the Tip Top and 76 that historically produced minerals, which is why so many exploration companies are focused on these operations rather than entirely new mines.
It also has a variety of ore-sampling reports or drill-hole locations to indicate where people have found minerals, or a lack of them, in the past. Exploration companies rely heavily on the data kept by the Geological Survey, formerly the Department of Mines and Mineral Resources.
Niemuth said many investors fail to conduct due diligence, or background work, before investing.
"Say you are buying a new car. Do you just buy it? Or do you check the engine and kick the tires?" he said. "It's a bouncy ride out to many of these mines, but you can get there. You can see if it's reclaimed. You can corroborate (what the companies say about the mine). People fail to do that."
People from across the nation routinely call Niemuth asking about investment opportunities.
"I had a guy call me last week from Florida who was raising $7 million to invest," he said. "He was asking what should the (mine) sampling (data) look like."
The recent opening of the Copperstone gold mine in western Arizona and Gold Road mine near Oatman show that Arizona's historical mining districts offer potential, he said.
And the Resolution Copper Project, a massive mine that Rio Tinto and BHP-Billiton are trying to develop, shows that new discoveries can be made in old mining districts, he said.
"The discovery of Resolution Copper has encouraged lots of people to explore copper in Arizona," he said. "Copperstone is the reason people can explore for gold in Arizona. They think they can potentially find a world-class gold mine."
He said that Arizona has a history of outright mining scams, where people have tried to drum up investments in worthless properties, but that many companies operating today are in more of a "gray area."
They might have actual minerals in the ground, but it is questionable whether they can be mined economically or represent a large enough deposit to pursue, he said.
Profits without a mine
Mineral exploration might not always bring profits to investors, but the company officials involved in such companies can earn a sizable income.
Even if Silver Horn's current ventures flop and the investors' money is lost, Bleak turns out OK. He takes a $15,000-a-month salary from the company, and salaries of $150,000 or more are not uncommon for the CEOs of similar exploration firms, even when they don't produce anything.
Bleak said the real financial incentive for him is to produce a working mine, which would enrich him through millions of shares of company stock.
A producing mine likely would increase the current value of the stock, which is about 13 cents per share.
"I'll have a good, vested interest in the thing if I make it work," he said. "I have a good incentive to bring something to production."
Niemuth, from the state Geological Survey, is prohibited from commenting on the likely success or failure of a public mining company, but he can assist exploration companies and others in researching what public information is available regarding historical mining operations.
For example, he can point would-be investors to information that might indicate whether a company is claiming to have a gold mine in an area where there never has been a gold discovery.
"One of the things the Bleak family members appear to have done quite well over the years is they are very astute at recognizing the commodity trends and being early acquirers (of mining claims)," he said.
Rocky past
The Bleak family has been involved in several Arizona mining ventures, and their run-ins with regulators and other troubles show how freewheeling the exploration and mining-claims business can be.
Bleak learned to make a living in exploration from his grandfather and his father, Floyd Bleak, who started staking uranium-mining claims in Utah in the 1950s as a teenager, Daniel said.
Floyd was able to sell those claims to mining companies and eventually moved to Arizona, where the family was involved in rock quarries in Flagstaff and the East Valley.
"They basically were explorers," Daniel said. "They were project generators. They would get a project to a certain point and get bought out at that point in time."
Floyd has a history of brushing up against the law with his exploration and mining activity.
He was charged in Canada with filing a false mining-company prospectus in 1971 for Pan American Mines, but the charges were not pursued, according reports in the Montreal Gazette.
Several criminal and civil suits were filed at the time, charging fraud and conspiracy to influence the stock price of the company before trading was halted.
In the 1990s, Floyd was in a conflict with residents near a Morristown rock quarry regarding his use of heavy explosives to remove soil. He also challenged the fees that operation had to pay to the Bureau of Land Management.
In the early 2000s, he temporarily held up the San Tan Mountain Regional Park with mining claims within the proposed park boundary, where he threatened to develop a mine if the BLM did not enter into a land swap with him.
The BLM said those claims were invalid because he had missed filing deadlines on them in the 1980s. The park eventually was formed.
Floyd lives in Queen Creek and said he still is involved as a partner in several mining claims and ventures in the state.
The mining business hasn't always been trouble-free for Daniel, either.
In the 1980s, he had a rock quarry in Pinal County as part of his Mineral Butte Mining Corp.
The BLM ordered the operation to shut down because it was operating outside of his mining claims and because it was registered as a gold mine, yet Bleak was actually mining landscape rock at the quarry.
Landscape rock would normally be subject to a fee per ton. There is no royalty on gold, however.
Bleak, at the time, told The Arizona Republic that he was selling the landscape rock people were using in their yards as gold ore and that it would increase in value as gold prices rose.
The BLM contended that there was not a recoverable amount of gold in the rock.
More recently, the Securities and Exchange Commission earlier this year required Silver Horn to explain or restate multiple portions of its financial disclosures, which is common occurrence among exploration companies.
Securities regulators sent a letter detailing similar financial-reporting concerns this year to Continental Resources Group, a uranium-exploration company for which Daniel was a director and his son, Joshua, was CEO, before that company was acquired.
Joshua also is CEO of Passport Potash, an exploration company that has seen big swings in its stock price in the past year as it pursues a mine for potash, a fertilizer ingredient, near Holbrook.
Passport recently got a letter from the British Columbia Securities Commission. In it, regulators said the company overstated the amount of potash that could be mined on its proposed project.
The regulators said some of the statements on the mine's potential were not in compliance with the exchange's rules for mines.
Exploration successes
Daniel Bleak said he also has had successes. One of his exploration companies sold a mine called Newsboy Project near Wickenburg to another junior company, Bullfrog Gold Corp. of Grand Junction, Colo., which is drilling the area to determine if a mine is viable.
The project conveyed for $3.4 million, payable in installments through 2017, according to regulatory filings. So whether or not that venture ever becomes a full-fledged mine, Bleak likely has turned a profit through exploration.
"It had past production in the late 1890s and early 1900s," Bleak said. "Because it was a low-grade deposit, it wasn't profitable until gold was above $400 an ounce."
Bleak said he sold the project because he couldn't raise the capital to drill it.
And so it's on to the next project.
"We truly do not want to be bought out," Bleak said. "We want to be a mining company. Hunter Dickinson (a major Canadian mining company) or Phelps Dodge ( now Freeport-McMoRan), they all started this small, with a guy with a shovel and a pick. We won't do anything we don't believe would go into production."
Small mining companies in Arizona
The following list is a sampling of exploration companies in Arizona. Many also have projects outside of the state not listed here.
Name: Silver Horn Mining Ltd.
Based: Apache Junction.
Market/stock ticker: SILV.
Exploring: Reports it has mining claims near Kingman; the C.O.D. mine near Chloride, where its claims are being challenged by another miner; and the 76 and Tip Top mines in Yavapai County, about 50 miles northwest of Phoenix.
Notes: CEO Daniel Bleak is the son of longtime Arizona miner Floyd Bleak. Son Joshua is CEO of Passport Potash, which is trying to develop a potash mine near Holbrook. The companies share a corporate address.
Name: Passport Potash Inc.
Based: Apache Junction and Canada.
Market/stock ticker: Toronto Exchange/PPI.V.
Exploring: Exploring potash mine near Holbrook.
Notes: Stock price was as high as $1.47 in February, and in March CEO Joshua Bleak was on Bloomberg television, talking about the market potential of the region. He said it would take $750 million to $1 billion and five years to get his mine going. But the stock price has sunk to about 23 cents a share after issuing a report in November regarding its mining potential.
Name: Liberty Gold Corp.
Based: Phoenix.
Market/stock ticker: LBGO.
Exploring: The Domestic Portfolio 15 miles outside Kingman.
Notes: The company reports that some of its claims in Arizona have been measured to contain about 0.71 ounces of gold per ton of ore. That would be more gold per ton than any mine in North America, South America, Asia or Africa run by Newmont Mining Corp., the largest gold-mining company in the world. Liberty CEO Lynn Harrison declined an interview request with The Arizona Republic, citing scheduling conflicts.
Name: Western Sierra Mining Corp.
Based: Lake Havasu City.
Market/stock ticker: Pink sheets/WSRA.
Exploring: Several interests in Arizona including Gold Basin Mine, Table Mesa, Gold Crown and Gold Star.
Notes: The company lists about $9.4 million in assets in its latest financial report, mostly in property and equipment.
Name: Source Gold Corp.
Based: Toronto.
Market/stock ticker: SRGL.
Exploring: Vulture Mountains near Wickenburg.
Notes: One of its financial reports says officials estimated the depth of water in one of its gold claims by tossing a rock into the mine shaft. Otherwise, the company has not conducted any exploration at its claims as of October.
Name: Sagebrush Gold Ltd.
Based: Walnut Creek, Calif.
Market/stock ticker: SAGE.
Exploring: This company has three projects in Nevada and recently acquired Continental Resources Group Inc., a uranium-exploration company run by Joshua Bleak, the CEO of Passport Potash. Continental had various exploration properties, including Artillery Peak in Arizona.
Notes: Sagebrush has not made any announcements about the uranium properties since announcing the deal in October. Like many of the Stage I companies, the Sagebrush corporate address is a residence.
Name: American Bonanza Gold Corp.
Based: Vancouver, British Columbia.
Market/stock ticker: Toronto/BZA; U.S./ABGFF.
Mining: Recently restarted the Copperstone gold mine between Quartzsite and Parker. The company earlier this year reported a $17.5 million equity offering and an additional $6 million in financing, and shortly after, reported purchasing several large pieces of equipment. In November it began commissioning its facility.
Notes: Also is exploring a project near Oatman.
Name: Hondo Minerals Corp.
Based: Addison, Texas, with Scottsdale office.
Market/stock ticker: HMNC.
Mining: Reopening the historical Tennessee gold mine near Chloride, which operated from the 1800s to 1947. Hondo began work in late 2010 and went public in early 2011. In November it reported it was completing its processing facility.
Notes: Lists $12 million in assets, including about $5 million in mining equipment as of Oct. 31.
Name: Patriot Gold Corp.
Based: Las Vegas.
Market/stock ticker: PGOL.
Exploring: Moss Mine 10 miles east of Bullhead City. It formed a joint venture with Northern Vertex in March and reports it has completed 59 drill holes.
Notes: The company got a letter in April from regulators indicating that it was using inappropriate language to describe its mineral resources and was directed to restate its report using SEC-approved terms.
Name: El Capitan Precious Metals Inc.
Based: Scottsdale.
Market/stock ticker: ECPN.
Exploring: A gold, silver and platinum property in central New Mexico. The company plans to sell the property. It claims the ore has grades as high as 1.2 ounces per ton of "gold equivalent," a common industry phrase that combines the value of gold and other metals in an ore.
Notes: Its stock price has fallen to about 33 cents per share, and the company's CEO, Chuck Mottley, sent a letter to shareholders in early December. "The decision to hold your stock, sell it, or buy more is completely yours. Regardless, we will do our best to move the process as efficiently as possible," he said in the letter.
Name: Mojave Desert Minerals, formerly Addwest Minerals Inc.
Based: Carson City, Nev.
Market/stock ticker: Private.
Mining: In 2010 it reopened the Gold Road mine in Oatman, which closed in 1998.
Notes: The company could operate its mill for other mines should they begin operating in the vicinity.
http://www.azcentral.com/business/articles/2011/12/22/20111222arizona-exploration-firms-seek-riches.html#ixzz1hZO6lnGV
http://www.sec.gov/Archives/edgar/data/1080448/000093980211000333/form10qa083111.htm
http://www.sec.gov/Archives/edgar/data/1080448/000093980211000290/form10q083111.htm
http://www.sec.gov/cgi-bin/browse-edgar?company=Patriot+Gold+Corp&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany
PGOL is alive but not kicking much right now. They just completed some test drilling with good results.
http://www.patriotgoldcorp.com/
Is this company still active? I can find the ticker on Etrade anymore.
Oatman, Arizona - Mining the Past
There's still a lot of gold in those hills.
Apology excepted. I also ran it past mining board as nodummy suggested and got this TRAPPER JIM
Tuesday, November 01, 2011 10:04:33 PM
Sorry it took me so long to get back to you only money.Ive never really looked at them before.Its a new one for me.Doesnt look to bad thou with the reports on the property and stuff.Are they expecting any news to come out soon.
Sorry, didn't use the word liar and my search of the DD board did not pick up his post, probably because he did not use PGOL in his response.
Dont like being called a liar my response from nodummy
Sunday, October 30, 2011 11:19:28 AM
They seem pretty legit - fully reporting, low share count, no preferred shares outstanding, no debt Notes...
I don't see any immediate red flags on the balance sheet
I always get suspicious when I see Canadian groups involved with mining companies trading on the US exchanges.
As long as they aren't any paid promos being used to do pump and dumps on the stock they seem like a respectable company which is hard to find on the pink sheets
You may want to present the 8K they just filed to the experts on the mining research board to see if there are any issues with the property evaluations:
http://investorshub.advfn.com/boards/board.aspx?board_id=21803
Obviously sorting through terms of the lease agreements and determining the true value of the properties and potential for future revenues would be key in determining just how good of a long term investment PGOL may be.
Who is Ronald C. Blomkamp? why is he listed as the CEO, president, COO, and secretary on the OTC website?
The DD board did not give any response to your inquiry on PGOL so you are misleading in your post saying PGOL got a clean bill.
Las Vegas, NV – October 25, 2011 – Patriot Gold Corp. (PGOL:OTC), a gold resource and exploration company, today announced that an independent evaluation has established its Moss Gold-Silver Project as a National Instrument 43-101 compliant 590,400 ounce gold (Au) equivalent resource.
NI 43-101 reports are not valid in the US. They are a Canadian report and can only be used by companies listed in Canada or Canadian companies.
Mining and mineral exploration companies in Canada must follow specific guidelines for disclosure, designed to improve the accuracy and integrity of the information they provide. National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) governs a company's public disclosure of scientific and technical information about its mineral projects.
http://www.bcsc.bc.ca/mining.asp
Without limiting the foregoing, these documents use the terms "measured resources", "indicated resources" and "inferred resources". Equityholders in the United States are advised that, while such terms are recognized and required by Canadian securities laws, the SEC does not recognize them.
Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made.
United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category.
Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases.
Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of "contained ounces" is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report "resources" as in place tonnage and grade without reference to unit measures.
Accordingly, information concerning descriptions of mineralization and resources contained in these documents may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC.
Yep, Europe problems good for gold.
Havent sold shares in over a year...This looks really good right now from 10minutes of reading
DDHOUND. Followed the chatter. Marked the board. GLTA!
Ran this past the fraud board clean bill.
It's simple small volume sells by momo traders who got stuck here for awhile. You always here things like dd on penny boards, well if people could understand what an 8k means they would be adding. We have a project funded by a partner who is named and spending the money, we have been working on this project for a long time,partner signed on recently, put up millions and results are in. This company does not dilute its shareholders to fund there project instead they were able to let the facts get the funds via partnership! They are not selling shares, nor are they pumping stock. The official results will be filed in early December. This stock is worth at least several dollars a share and with this float it will go there. imo not your typical penny scam
Have a call into the company, will advise on conversation. Topics to include possible buy out, time line for production.
I will be adding next week, amazes me no pump from company,no dilution, very small share count straight 8k,
That 150,000 share trade must be the one that bought 150,000 on Tuesday at .05
8k said near term risk is gone will be aquired first.imo
Good point! Production. I'll DD in detail and post later.
When do they start taking the gold out of the ground?
Making money ?
Any pressure and we will see the decimal moving to the right!
Near term gold production, my favorite part of the 8k!
Our partner http://www.northernvertex.com/
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