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Management is sitting on a huge stockpile with unknown value. They are reluctant to sell big volume due to tax reason. How do company and shareholders benefit from this unknown inventory?
Management is not willing to provide an estimate on gold tonnage in all perimeters. PRMO's market value is unknown. How do company and shareholders benefit from all these unknown factors?
It is a mystery.
PRMO is paying $100,000 USD per year for storage fee for the inventory. The storage space is approximately 1/4 gravel truck box. Not too big. I can imagine the $ value of this stockpile, must be huge.
However, management does not provide estimation of the market value of the inventory. This is misleading. IMO.
Quote:"One thing is, I dont know how they can mislead investors, especially when they don't communicate with shareholders."
The financial reports do not disclose all necessary informations for a normal gold mining company. They purposely removed the inventory tonnage from June 2010 & Sept 2010 reports. No one know the quantity of gold in inventory. They spent $400,000 USD in engineering and have more than 2 years mine production and purchasing of gold bearing material from villagers. They claimed they do not know the gold content and grade of the gold beraing material. They don't know what they are producing and purchasing? They don't know what is in the inventory stockpile? This is unacceptable.
No details of the quantity and quality of gold sold in all transactions.
No estimation of gold in the ground within all perimeters.
These are vital informations for investors to estimate the market value of PRMO. PPS should reflect the market value accordingly.
All IMO.
Gold index is at all time high, $1392. The political turmoil in middle east, gigantic debt in most countries, governments have been printing paper money like crazy, gold is looking good.
PRMO has all ingredients to be successful. Just put it in the pot and start cooking.
Gold index hits #1392 today. I hope management is selling today.
I am not familiar with law and tax. Madagasca's tax law in regard to Capital Gain for corporation is 23% tax. Property tax is 5% to 10%.
Anyone shed some light on it?
I have heard people have difficulty buying 0.0001 in the last few weeks. Possibly MMs playing games. Your best bet is 0.0002. Good luck.
The following is for discussion purpose only. The numbers that I use are not from PRMO.
If PRMO produces 2000 kg gold bearing material annually. They sell 500kg and keep inventorying the balance quantity (1500kg) for tax reasons. After 5 years, they will have 7500kg in inventory.
What do they do with the inventory?
How is the company and shareholders benefit from the inventory?
Anyone shed some light on it?
On one hand, they keep producing. On the other hand, they don't sell due to tax reason. Don't know the logic behind this one.
PRMO management is sitting on a huge stockpile. They claim they do not know the gold content and grade. They don't announce the tonnage or production rate. Can't understand their business plan.
Gold index hits $1385 today, challenging $1400. May be PRMO management is waiting for $2000.
Most gold mining company is doing very well these days. This is once in a life time opportunity for PRMO to shine. We don't want to miss the boat.
Sell more gold, pay more tax and be happy.
Back in 2008, PRMO was ranked Caveat Emptor (skeleton), worst in OTC (pink sheet) ranking. They sent in several PRs in 2009 and also June 2009 Financial Report, it was upgraded to Stop Sign, Grey and now Yield Sign (limited information). It is significant improvement. Hopefully will get better in near future.
Br*-X's executive put gold dust in core samples prior to sending to lab. It was later found fraudulent. He jumped off a helicopter some where in Indonesia in 1997.
Gold index jumped another $10. It seems ready for another run, $1400 is coming.
PRMO sell more gold, pay more tax, improve cash flow and be happy.
All ingredients are in place, just put them in a pot and start cooking.
The menu we are waiting for is as follow:
Appetizer - Lots of Gold Sale
Main Course - Pure Gold Tonnage in Inventory and In the Ground
Dessert - Gold Refinery
Boy, I am hungry.
That's true. All speculation. PPS reflects the material showing on financial reports and PRs'. Thus PRMO's present value is 0.0001. So sad.
Quote:"I do find it amazing that it didn't run when the last two PRs came out and when they send out the next one then it could be the one that really makes the engines get started."
I think the last two PRs are meatless. The proposed gold refinery deal may or may not go through. Thus it's speculation only. It wouldn't move the pps.
Gold sale PR is good to have. However, investors are looking for consistent sale program and regular income. PRMO hasn't prove that they can sell regularly.
Also PRMO's production is very secretive. No one know how much they are producing. Difficult to evaluate it's market value. Difficult to bid on something that has unknown value.
Lack of consistency and transparent are the reasons for triple zero one/two pps. IMO.
Gold index is edging up again today. I hope management is selling now. Take advantage of the gold rush. Sell more gold, pay more tax, improve cash flow and be happy.
Management is sitting on a huge gold inventory. They have not publish the quantity and quality of it. This is an unknown stockpile. They also have not announce the estimated gold reserve in the ground for all perimeters. Another unknown that could worth million or billion dollars. Thus PRMO's market value is unknown. All speculation at this point in time. IMO.
Technically yes, you can buy at 0.0001. I bought some 0.0001 before.
However, I have heard some people have difficulty getting 0.0001 in the last few weeks. Possibly MM playing games.
Good luck.
Stealing one dollar from a bank results in same jail term as stealing one million dollars. A smart bank robber would go for one million dollar. IMO.
Good point.
1,000,000,000 x 0.0001 = $100,000 USD
It is too little money.
Anybody got a piece of the 71,230,000 @ 0.0001?
Gold index has jumped another $10, it is challenging $1400 again. I hope management is selling today. Sell more gold, pay more tax and be happy.
It has been 7 weeks since the last PR about proposed gold refinery deal. It is getting closer everyday to the announcement.
Go PRMO Go.
Go Gold Go.
Gold index jupmed $10 this morning. I hope management is selling today. Sell more gold, pay more tax and be happy.
I used Br*-X as an example last week to demonstrate the dynamic of pure gold tonnage in gold mining industry. The pps went up from $0.3 to over $200 after they announced the gold tonnage in the ground.
This particular gold exploration and mining company eventually folded with sad ending in 1997. The assay data was found fraudulent. The management ended up jumped off a helicopter somewhere in Indonesia.
When management decides to publish the meaty data, it will fly.
Meaty data = estimated pure gold tonnage in inventory and in the ground
My ballpark calculation for the above is:
10 tonne + 13 tonne = 23 tonne pure gold
Believe it or not. IMO.
I am hoping the gold refinery deal synchronize with the quarterly report. Also PRs for multiple sales and announcement of estimated pure gold tonnage in inventory and in the ground. This is the best scenario for shareholders. The pps will fly. IMO.
As long as gold index stay at current level or higher, PRMO is promising.
The next quarterly report will show the updated share structure and the shares owned by principal/management/director. Stay tuned.
PRMO management/principal is holding 1.5B common share and 350,000 preferred share. Sooner or later they want to get rich.
The sooner the better for shareholders.
All ingredient is available. It just need to put them in the pot and start cooking. IMO.
PRMO management is sitting on a huge inventory stockpile. They claimed that they do not know the gold content / grade of the inventory. So, no body know the market value of PRMO. Too much unknown and uncertainty. This is why trading at 0.0001 to 0.0002. IMO.
Gold index is edging up again, reaching $1366. I hope Dror is selling today. Sell gold, make profit, pay tax, improve cash flow. Sell more gold, pay more tax, pay dividend, pps goes up and everybody is happy.
I hope so.
However, there is rumor that the common share has been increased from 8.4B to 10.3B. Because the 10.3B showed up on PRMO web site for a couple hours. Someone saw it and posted on this board. Then it was removed by PRMO management immediately.
PRMO will not go over 0.0004 with the current financial reports and meatless PR. Usually, pps reflects the market value of a company. How much does it worth at present value? Investors bid on it accordingly. Is it a $1B company or $10B company. Everything can be calculated and estimated.
In mining industry, the reserve of the natural resource is the most important statistic investor interested in. For oil exploration company, people want to know the number of barrels of oil in the ground. For gold mining company, people want to know the estimated tonnage of pure gold in the ground and in inventory.
At this point in time, PRMO's market value is very little based on it's financial report. Since the most important piece information has not been published. The public can not accurately estimate the true value of PRMO. Thus it is at triple zero.
It seems that the management is satisfied with the current situation. They even removed the tonnage of gold bearing material in inventory from June 2010 financial and Sept 2010 quarterly reports. They also said the management does not know the grade and gold content of gold bearing material in inventory.
They already spent $400,000 USD in engineering. Someone should have the vital information that can move PRMO out of the basement pps.
PRMO has been producing and purchasing for more than 2 years. They don't even know what is in the stockpile? They don't do material testing and verification at all? They are not capable of doing educated estimate? Unbelievable.
All IMO.
The reason that I use Br*-X as an example is to show the dynamic of pure gold tonnage in these type of mining stock. After the estimated tonnage is announced, it's pps went from $0.3 to as high as $280, which is almost 1000 times the original price. They didn't even reach production stage.
How many tonnes of pure gold in PRMO's inventory and in the ground? PRMO already spent ~$400,000 USD in engineering. Someone should have the answer.
I think management read this board. Conference call definitely clarify lots of issues.
Quote:" Why hasn't this thing at least popped to .001 yet? "
There is vital information has not been published. Such as estimated pure gold in inventory and in the ground. It is needed to estimate the market value of PRMO. Investors can bid accordingly. PPS will reflect the market value of PRMO. Let me give you one example:
There was a gold exploration and mining company called Br*-X. They drilled holes, took samples and announced the assay result from their perimeters. They told the world that approximately 100,000,000 ounces of gold in the ground within their perimeters. The estimated market value of Br*-X was $6B (in 1996 dollar). The pps went up to more than $150 USD. (I think most people know the rest of the story of this company.) My point is that these are vital information for any mining company to be successful. All IMO.
My answer to your questions is "no". I understand this is triple zero pinky, lots of uncertainty, high risk and hopefully high return.
First of all, I believe the unaudit financial reports and PRs are true. I've gone through the reports thoroughly and they make lots of sense. Such as operating expenditure, share structures, sale of common shares and preferred shares, business plans etc. The PRs reflect the significant events in the last 3-4 years. From acquiring the mining rights, fund raising through sale of shares, multiple shippment in 2008, additional perimeters, acquire mining equipment, mining operations, shipping, inventorying, selling and purchasing from villagers etc.
I am convinced that it is real. Unfortunately, it is lack of transparent. There are vital informations not been published. Also lack of promotion. As I said, it seems this is their business plan, say nothing and keep working. I believe eventually they need to make money and get rich, from all the works they have done. I am holding until the BIG PAYDAY. All IMO.
From all evidence, PRMO has been mining, producing, selling, shipping and stockpiling inventory. Their business plan is say nothing and keep working.
One of these days the management decides to get rich, it will explode. IMO.
It has been 6 weeks since the proposed gold refinery PR. Something is cooking here. I can smell the main course.
According to financial reports, all PRMO management staffs do not make salary or bonus. Can someone shed some light on it?
It seems they don't draw salary. Also can't make money from 0.0001 pps. Can't find any logical explanation for all their work for nothing?
They own total 1.5B common shares and 350,000 preferred shares. They can't buy bread with these paper shares.