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WOW up 80% on 40MM volume. Follow the money....
Unless I am forgetting something, this is the largest daily percentage increase we have seen in a LONG time here.
We might see bumps in the road, but it seems like this wants to back into the pennies. After today's move on big volume, this will be on peoples radar for tomorrow and Friday. Hopefully this is just the beginning of this move....
Ask now .0043
Looks like the whales have arrived and the PPS is on it's way back to the pennies!
Unfortunately I will be in Florida that whole week on business. How about you?
It looks like the run up to the 11/13 shareholder meeting has begun!
They expected to produce between 6K to 12k ounces of gold this year. They most likely won't even hit 1/10th of that. That lack of revenue was the cause for massive dilution and now a proposed R/S. That is what I call short term failure. Long term success/ failure has yet to be determined IMO. Just trying to keep things somewhat real around here...
That is yet to be determined for many of us. However, so far they have failed in their gold recovery mission and not met their goals. Reality is reality...
.003's getting hit hard!
As far as I know, the par value just sets a limit as to the price that the company can sell stock at. So if the par value is .001, they can't sell shares below that value. I suppose removing the par value could be construed as bad news, but I think this will be practically a non event with all the other stuff going on here. Any other thoughts?
That's just my plan Miggi. I am just trying to be smart about this and not let the emotions of all these big events make me all warm and fuzzy about PCFG again. Let's face it, Mitch and Rob have let us down time after time, year after year. They have yet to get the job done with decent gold recovery and have diluted the stock to pay for their mistakes. Let's call a spade a spade....
lol that's a tough call, but gold will be really strong. This is shaping up to be a really interesting time for us in PCFG world. The one thing I know for sure is that I will take some profits on this anticipated run up (and still hold a long position) before the shareholder meeting. I have added a bunch down at these levels and I will not let profits disappear just because I am long here. The shareholder meeting and its associated "votes" followed by the Q report being released days later are risky events and could cause a significant drop in the PPS if things don't go the way we would like them too.
Think what you want....I think it's a guarantee that a R/S will happen, and as I said that doesn't have to be a bad thing. And I never said anything about when the R/S will take place.
See the top sticky post above...11/13/12 Shareholders meeting to "vote" on a R/S and a few other things. I put vote in quotes because it's always a total joke in the penny world. An R/S WILL happen, it's a guarantee.
R/S's are almost always bad news in the penny world. It gives a company the ability to spit its stock and dilute the crap out of it. I think PCFG can be an exception if production is going decently. When it comes down to it, the only thing that will matter is that Q report released a few days after the shareholder meeting. If production rates were not much better, the company will dilute and shareholders will get slaughtered. If numbers are better and things are moving in the right direction, this R/S could be a new beginning for Pacific Gold and it's shareholders. I REALLY like the fact that Mitch and Rob might go into this R/S holding almost 50% of the O/S. Like I said before, if they start to dump I am outta here....
R/S like I suspected......ugggg. Funny how this is being "voted on" the day before the 10Q is released.
It's hard to "chill" when the O/S was doubled in a day. However, It is good that the majority of the shares were issued to Mitch and Rob IF they hold on to them. That is a big IF....
Yes, if they plan to dump them after they release a few fluff PR's in the near future, but before they release a bad Quarter report in November. Effectively paying themselves nicely before the PPS tanks over the long winter followed by a R/S in the spring. Who knows at this point, anything (good or bad) is possible here with these new developments.
I was talking about the value of the shares considering that the PPS will likely go down now to reflect the doubling of the O/S and the devaluation of each share. Unless the powers that be want this to go up, or good news is released, that is what will likely happen in the short term.
Exactly. The key is what they do with these new shares. But either way, the company's value was essentially just cut in half.
Its all "talking about" like you stated. They have yet to deliver on anything. The O/S is now 2 billion and everyone should proceed with extreme caution here IMO. I am holding for now, but if Mitch and Rob start to dump, head for the hills!
As disturbing as it is that these bozos just doubled the O/S in a day, at least the shares were issued to themselves. Remember, as officers of the co. they must disclose the sale of the shares as well. If I see these guys start to dump shares I will be out of this stock so fast because it means that current production is awful. If they hold on to these shares it could mean positive things are coming. Wow, what a twist....
If they give us decent recovery #'s in November, .03 is more like it. Time will tell....
Unfortunately, the recovery rate will be all that really matters to the market and the PPS heading into the winter....
I am adding this week as well. Sink or swim?? We will soon find out....
Playing the pennies is a form of gambling and is actually very addicting......
Maybe not "lied" but not been completely honest, yes they have. The share buyback PR was complete and total BS used to try to manipulate the PPS up (and it clearly failed).
Unfortunately SN, the point LT was making was a good one. The fact is that this is a typical penny stock and should be traded as such. The "trade the stock, not the company" is great advice to live by if you can detach yourself from "the story". Sadly, I have fallen for "the story" here and it has done nothing but cause me problems and lost me money. I am trying to look at this as a stock, and not a company lately, as difficult as it may be.
Nice work! Your efforts are greatly appreciated......
Just another thorn in our side. We need some clarification from the company on many fronts ASAP.
It is highly unusual. What is alarming is the fact that this VERY material event of owing the IRS a substantial amount of money wasn't disclosed to the public.
Agreed, perhaps a class action would be appropriate. What morons....
WOW, talk about needing new management here. This is beyond irresponsible....
I added some more today. I am very skeptical about the future with Mitch and Rob at the helm, but I won't be able to live with myself if I don't take advantage of this PPS. Toxic financing or not, this could go back to .03+ in a heartbeat.
What do you mean "production restart"? Production was never stopped, as far as we know. Do you have info that states otherwise?
I am going to average down a bit today. This could go lower but I just feel that we are near the bottom. I am still very disappointed in management, but I might not get this opportunity ever again. I have an order in for 330k at .003 for now and will add more if we go back to the 2's.
And people still claim this isn't manipulated. hahahaha
I hope they fired everyone...including themselves. This is indeed a nice find though.
Whats going on here is downright disturbing. All the potential in a producing (although very little) gold mine, and the bozos f-ed up again and resorted to death financing. If this gets into the 2's I might average down some, but now what's to say they don't R/S at some point?? With a O/S over a billion in the near future, it becomes a serious possibility.