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Yes they can force a buyout if management agree regardless of what shareholders say.
I had shares of Etruscan in August which I bought at around 20 Cents and they got pulled from my account in exchange for cash, at 48 Cents a share.
This may have been a dead project a couple of years ago but with Gold hitting a high of $1320 about an hour ago i'm pretty sure everybody wants to see this work.
unless someone is claiming that there is NO gold on the site?
Even if it cost $600/ounce to mine, that's still $700/ounce profit!
The great thing is they can't dilute shares until they file with SEC, so the squeeze on shares for sale is huge.
I bought into PCFG over 1 year ago and left it for dead lol,
5 Million Volume in first hour.
Gold flies past $1300 to 1306!
http://goldprice.org/
Check this article out,
http://uk.reuters.com/article/idUKTRE6820FX20100903?loomia_ow=t0:s0:a49:g43:r1:c0.189474:b37057628:z0
Gold might break $1300 in September.
Yup holding tight, this is gonna blow in the summer. This is not a quck flip.
If this can be patented than NEOM should have no problem with its patents....
Facebook Patent
GCMN has a book value of 7 cents a share just based off ONE of their properties on a purely speculative basis, much higher if they go into production on just this one project.
51% for a $3 million investment = (3millionx2) / 84,780,000= 0.07cents
Actually Killer Whales are not Whales they are a type of Dolphin that Kill Whales. :)
Killer Whale Wikipedia
CARPATHIAN GOLD INC. ANNOUNCES CLOSING OF C$7,186,988 BOUGHT DEAL PRIVATE PLACEMENT FINANCING
(Toronto, Ontario – December 3, 2009) Carpathian Gold Inc. (CPN-TSX) (“Carpathian” or the “Company”) announced today the closing of its previously announced bought deal private placement of units (the “Units”) at an issue price of C$0.33 per Unit. Including the Units issued on the exercise of the Underwriters’ option, Carpathian issued 21,778,752 Units for aggregate gross proceeds of C$7,186,988. Each Unit is comprised of one common share and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to subscribe for one additional common share of the Company at an exercise price of C$0.45 at any time prior to December 3rd, 2011.
The underwriting syndicate was led by Canaccord Financial Ltd. and included Paradigm Capital Inc. and Blackmont Capital Inc. The offering is subject to final acceptance by the Toronto Stock Exchange.
I have this fantasy that they discover the largest gold deposit in History and based on that video its possible. lol
That said I disagree with you on the .50 cents only because there are so few shares in float. This stock is either going to stay flat or shot past $2.
The directors themselves paid around .30 cents a share and you don't take that risk unless you think you're gonna get 10x back.
lol, i've noticed the same thing on PCFG & GCMN everybody thinks something is going to happen today or tomorrow or this week.
In my opionion nothing will happen until spring. First of all unless a mine is already in production very few start up in the dead of winter.
Also If I had a gold mine with billions of dollars of gold I would'nt get into an agreement or partnership with somebody until gold hits $2000.
Check out this video from NovaGold,GCMN is right next to this...
Actually I should say NovaGold is INSIDE the claims that GCMN's has.
http://www.novagold.com/video.asp?pageid=11090
Keeping in mind I still think this is the best undiscovered mining stock based on the facts.
It means that it is the Old LOW and the New HIGH, a fundamental pivot point in the price of the stock.
So the stock would have to break out its trading range which currently is based on speculation.
For the stock to pass ~7 cents would require more than a good press release.
No Volume without news, I've been buying this stock since May.
At this point we won't see 2 cents again based on the price of gold and the quality of the stock & claims.
Holding tight, my guess is they have to many claims to forge ahead alone, they will need to partner with somebody big.
In any case they legally had to increase the A/S as the eventual conversion of preferred shares into common stock would have exceeded the A/S by 100 or so million shares.
But increasing it to 5 Billion is strange.
Like all companies that issue stock I'm sure they had the shareholders in mind :-P
After reading that filling carefully, I am cautiously optimistic.
I won't be adding but I'm not dumping either.
If they have an O/S of over 1 billion shares then I'm out, but I don't think they will do that.(just yet anyways)
Having the option to dump billions of shares should scare off any hostile takeover but will also scare off normal investors as well. Maybe thats the point?!
Their website is begin updated as of yesterday night?!
http://www.goldcrestminesinc.com/
Production in Spring? Thats good Gold will be $2000 by then :)
May be we can encourage GCMN to release some kind of news if we keep driving the price up, lol :)
Yes, I agree, nobody knows about this stock. No Press Releases. This company has the characteristics of a company that has already secured some form of financing which means that they don't need to go around selling the stock with over inflated press releases.
On page 12 of the last 10-Q they had authorized the placement of up to 5,000,000 shares to raise funds then withdrew the placement after only issuing 1,000,000 shares.
Also if you look at the Related Party Transactions on Note 7 page 12 you will see the quality of the companies they have dealings with.
lol, You can own 1% of this company if you buy 847,770 shares.
I don't think I have ever come across a penny stock with so much hidden value given the calibre of their claims and management.
Link to FORM 10-Q for August 2009
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=6747634
If you look at page 8 options can only be exercisable at a range of 0.28 cents to 0.53 cents
Warrants exercisable at 0.30 Cents a share.
Some PR would be nice, but they probably don't need to.
We need 1-2 million volume for this thing to move.
Novagold has operations within their claims.
NG is worth more than half a billion dollars.
http://www.goldcrestminesinc.com/projects/alaska/southern.asp
probably, all these gold mines are taking their time, they are sitting on gold literally, they are in no rush. It's not like a product or service they have to rush to market before everybody else. It's the opposite. Every day that goes by they can get a better deal for financing.
OT:This is another gold mine GCMN check out their projects...
http://www.goldcrestminesinc.com/projects.html
Looks like ten times what PCFG has and it aint moving much.
Yes, they also got $9 million dollars a year ago for exploration. Im sure they did something with that!
Insider only buying, thats good. link...
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=gcmn#getInsiderTrans
Yeah and this one has a tiny O/S only 87M.
Yeah I guess its all A/S shares, but its still a larger number than the current O/S.
I know a couple of people who have been into gold for decades and state that the actual value of gold if the dollar had to be pegged to it would be in the regain of $32,000.
They are adamant that gold will hit $5000 within years given the amount of money being printed in all currencies.
Since the credit crunch the U.S alone has issued more than $6 Trillion dollars in bailout & stimulus money! They won't be able to raise that from taxes so off to the printing press. Plus that money has interest in the regain of several hundred billion dollars a year!!
One would say that's complete BS!
But if you consider the scale of $1000 to $32,000, $32,000 being the complete failure of faith currencies, for gold to hit a couple thousand maybe 3000 is not that out of whack in terms of the scale.
Don't bite my head off, just my thoughts on the matter :)
Gold was $450 when PCFG hit $2.00 or 0.41 Cents after Yorkie
Something to keep in mind.
Great, so that means 0.41 cents if it goes back to its pre diluted all time high.
The increasing price of gold also changes everything.
When SP got to $2 the thought of gold passing $1000 and staying there was border line conspiracy theory.
Plus there is the bubble factor. Like the tech boom who cares what the numbers are just invest in gold.
I personally think gold will touch $1200 by the end of the year.
According to that article I posted for every $100 gold goes up the share price increase by many multiples.
Excellent article on how to value a mining stock:
http://www.e-cbd.com/113627.php
Does anybody know what the O/S was before YA came into the picture? In 2005 this stock peaked at $2 but at what O/S?
400 Million in volume since January.
A rough estimation by looking at a weekly consolidated volume graph since January 2009 all outstanding shares have changed hands.
Volume Chart:
While there may not be daily volume, over the past two years total volume seems to be going up quite a bit.
Although some of that can be attributed to the fact it went to subpenny. But there obviously is a build up in volume.
I stand corrected on number 3; I got them confused with Gold Crest Mines that just filed.
I'm just really happy that they paid off YA.
I hate buying a stock when you know they are just printing them off like toilette paper.