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NEWS. Repost: Pacific Gold Corp.-Share Buyback Program
I'm slow just saw it. Repost for others that didn't see it:
Press Release Source: Pacific Gold Corp. On Wednesday September 28, 2011, 10:00 am EDT
TORONTO, ONTARIO--(Marketwire -09/28/11)- Pacific Gold Corp. (OTCQB: PCFG.PK - News)(PINK SHEETS: PCFG)
Pacific Gold Corp. ("PCFG") today announced that its Board of Directors has approved a share repurchase program, effective immediately.
Under the program, PCFG is authorized to repurchase up to 5 million of its issued and outstanding common shares in the open market or in negotiated transactions, from time to time, depending on market conditions and other factors as well as subject to relevant rules under Untied States securities regulations. It does not obligate the company to make any purchases, including at any specific time or in any particular situation. The program may be suspended or discontinued at any time. The share repurchase program will be funded by the company's available cash, after assessing for the working capital requirements of the company.
"We believe it is prudent to use a portion of our future cash flow to repurchase shares. The share repurchase along with a continued commitment to developing our mining projects are planned to enhance shareholder value." said Mitch Geisler, COO of PCFG.
As of September 28, 2011, PCFG had 745,732,651 shares outstanding.
To find out more about Pacific Gold Corp. (OTCQB: PCFG.PK - News)(PINK SHEETS: PCFG), visit the Company's website at www.pacificgoldcorp.com.
http://finance.yahoo.com/news/Pacific-Gold-Corp-Share-iw-1002333405.html?x=0
I wish they'd tell us their plan! LOL eom
GOLD PRICE FORECAST:,Updated Friday, September 23, 2011:
http://www.forecasts.org/gold.htm
Gold continues to look strong, IMO.
GP PCFG!
Ditto. EOM
Hey fox, great post and ideas/thoughts. Yes maybe PCFG wants to fly under the radar for a while before dropping their bunker buster bomb! So to speak. I'm as long as I can be for now! Go PFG!
Hello Fox, thansk for that explaination. Hopefully institutions are aware of PCFG and the positive growth direction they are going and will see the same things we see. As far as new individual investors go, I still beleive there are plenty of individuals that would invest in PCFg but at this time they don't know it exisits or won't invest in a pink stock despite the fact it is a full reporting company. So I still belive in some sort of marketing. A lot here don't belive in that. But how would you feel if it was pumped up to .50 for example. are you and I really going to complain about that or sell for a huge profit?
GREAT post fox but please give me a complete defintion of "The Market" Who are they and how will they help PCFG go up longterm.
RE: Your paragraph:
The biggest thing I think the market is missing is the other company provided information. Everything we are using to base revenue estimates on is from the recent press release, which again I feel is the right thing to do as shareholders.....BUT, the remaining speculation element is BIG and is what investors and the market should be looking at. The numbers we are using for NRG revenues, .4 grams/p/cy is responsible and it is responsible that the company is providing this as forward guidance however, this is gold mining folks and they WILL find higher bearing gravels.....just look at the location and look at the other company provided information:
Physchogy: When in a panic mode, BUY! eom
We all want the share price to eventually pump up much higher than it is (or has). Slow or fast as long as we make a lot of money! IMO :)
Hey penguin007. Welcome to the PCFG board. Your 1st post here? Who is the rest of the world? I hope the rest of the world gets into PCFG this coming week. PCFG is going places.
Your welcome. I need that same tutorial. :) eom
Airdale1! Welcome back and thanks for that informative report on the Black rock canyon mine. We here on the PCFG Ihub board are very relieved that you and your family are safe.
:)
IMO this Robo basher is beneficial to the board because it is forcing knowledgeable longs to post the positive facts over and over again. Yeah!
Wrong! see post 67960. EOM
PCFG Human analogy, PCFG is an infant? Does that sound about right or are we a toddler yet. :)
SG&A= Selling, General & Administrative Expense EOM
That 700k shares looks like a buy to be. eom
That's strange. That wouldn't happen through the route I use. I use SBSH through Speedtrader.
That sounds logical to me. So if we were #1 most read board on Ihub, 80% of the readers are traders. So where do all the potential investors hangout? If you know lets go get um.
Of those that come to Ihub, what % do you think are traders and what % are investors?
PCFG is like an unsung hero! Great news today and I expect it to continue!
This stock is a no-brainer buy and hold for more events to unfold!
Entry into a Material Definitive AgreementForm 8-K for PACIFIC GOLD CORP
12-Sep-2011
Entry into a Material Definitive Agreement
Item 1.01 - Entry into a Material Definitive Agreement
On August 10, 2011, Pacific Gold Corp. issued promissory notes to investors in exchange for approximately $219,000 USD.
The notes pay 10% interest and are due on August 10, 2013. The principal and interest, on the notes, are convertible into common shares of Pacific Gold Corp. at a fixed price of $0.07 per share.
On August 2nd, 2011, Nevada Rae Gold, Inc., ("NRG") a subsidiary of Pacific Gold Corp., closed a lease agreement with the owners representing a group of additional mining claims adjacent to NRG's existing leases and claims in Crescent Valley, Nevada. NRG leased a 75% interest in the mining claims. On August 22nd NRG leased the remaining 25% interest in the new additional claims bringing its total interest to 100%.
The lease calls for NRG to pay the claim owners a gross royalty of 4% on gold sales or $0.50 per yard of gravels mined, whichever is greater. NRG will be required to make annual minimum advance royalty payments of $20,000. The term of the lease is for 10 years with an option for NRG to extend the term for a further 10 years. NRG must also keep the claims in good standing during the term of the lease.
On September 9th, 2011 Pacific Gold Corp. subsidiary Pilot Mountain Resources, Inc., received official notice and payment of $450,000, from Pilot Metals, a subsidiary of Black Fire Minerals, that Pilot Metals is electing to exercise its 24 month option, to purchase or joint venture the Project W claims.
As of September 12th, 2011 there are 745,732,651 shares of outstanding common stock of Pacific Gold Corp.
hey Wolverine, I only buy that explanation up to a point. Anyone that was planning to hold longterm would buy at the ask, which would drive the price up despite the MM'ers. Just not enough money coming in. IMO
Pathetic volume! Please excuse the neagtivity. I still think this stock need to be marketed somehow. IMO.
I just updated my count on the PCFG millionares club showing the shares I added this week!
Great thoughts Fox!
Here for others if they missed a great post:
Bad habits die hard, nobody wants to take the "big hit" all at once, that's why the PCFG short positions drag out the inevitable and slowly cover through price manipulation, they keep the stock down and cover here and there but not all at once, I suspect they left massive short positions open through year end 2010 thinking it would take much longer for the company to execute its buiness plans, surprise.....the company is fully reporting, has secured financing and is in production. Maybe they thought they could cover a portion in 2011 and the rest in 2012, now they know they have to cover soon.....too many positive things are happening with the company and the stock is holding HUGE gains (1,000s of % points). Just look at these numbers:
52-Week High
08/12/2011
0.0843
52-Week Low
09/16/2010
0.0019 <<<<<< SHORTED ALL THE WAY DOWN!
It's just a matter of time, but the clock is ticking.
Fear? There is nothing to fear about buying or owning PCFG so the shorts should cover and then go long! That would cause an upward explosion.
Bid is .0435 and ask is .0464. eom
Robo becomes a real HOBO with this great news! Go PCFG!! eom
PCFG no trades yet? Is that right? eom
Thanks for the explanation ws. eom
But with the tax deduction the loss will ultimately be less. I guess it depends on a persons perspective.
Hey anyone interested in going prospecting?
Excuse the off topic but I've got gold fever. LOL
PCFG's tax write-offs. At about 30 cents to the dollar of tax write-offs that means that PCFG will get back about $81,000 dollars a month. Isn't that good?
Hey John, yes Vortmax posted yesterday, post 66352. eom
John I know who you are talking about, he did great spread sheets and I can't remember either, yet. :)
Cool Twotone. I qwould have been in much sooner too if I had only known about it! One of my pet peevs not telling the world about this investment opportunity. I know it will all happen on it's own. :)
Hey VM, I like your view. That's my view too! I is an investor in PCFG. Only been in since Dec 2010 but added some more yesterday. All is good with my investment. IMO.
Hey John, yes having an e-mail ignoring no matter by whom is irritating and dissapointing. H@ll hire me as their PR man and I'll answer every inquiry even if it was a canned response. I'll even help then dig gold too. LOL
Aloha Viewmaster..Its happened to me and I don't post much! I just enjoy reading the great DD when get here about PCFG and I know the newbies appreciate it too! Look at gold way up and PCFG is busy scooping up and processing that rich dirt! It will keep getting richer as they did deeper. I sent the company an e-mail (which they didn't respond to) asking about how much richer it will be as they get down to bedrock! Oh well.
Happy trading
Frank