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My dream last nite... barron's issued a press release stating that there will be no more sales of PDGE stock until the price hits $5 at which point the shares will be privately placed.
moments later record earnings were announced coupled with terrific new contract awards.
tre
a 45 cent price seems to be a stretch for my imagination.
that would be a market cap of $300 million.
they would have to join forces with a big name in gold to pull that off. any way you slice it that would be years away to negotiate and sign the deal.
we are still not getting basic basic info out of this co. grams per ton, ounces per day, etc. also, they operate in a very tough (criminally) area of the world. This will cause the stock to trade at a discount for sure, despite positive cash flow.
I like your positive thinking though.
5 cents is do-able
a 5 cent share price is do-able if the excitement and gold fever is there.
That would be a market cap in the mid $30 million range.
We would need to be producing gold and making cash deposits into the bank. No fluff. Fully reporting and registered shares to boot.
come on jayme....go for it. we have been your backers.
maxmxx
at a minimum jaymee could show us the engineer's report. True?
This is not a healthy relationship. take take take. dilute dilute dilute. I need something in return......
horrific press release
today's release was another broken promise. No production goals were announced. what about the tons per day being processed? actual ore grades thus far? Ounces of gold poured so far? What a joke. when will we be caught up with financials and reporting properly. on and on. I smell a rat. a sham.
backlog
if the backlog is "priced for profit" we could be in for a very merry christmas indeed.
Teens anyone??
tsoprano.....
www.pennyinvestor.com
they picked PDGE on 1-15-05. It is their #2 selection.
also SI is silicon investor. a group of very well respected investors.
given that PDGE is liked on the SI board, it may soon appear on others as well. (Dale Baker, etc.)
If so, watch out. $4.50+ in a heartbeat.
I sold all my FRD in the mid 7's. It then showed up on a few boards and went past 14 on me. That's ok though. The wife got a new minivan outta it.
2 things....
1. If mold is the next "asbestos" then we are fully prepared 100%, since asbestos is where PDGE began years ago. We can be considered "experts" in both fields.
2. I googled PDGE last night and did see one penny stock advisor recommend PDG just recently as one of its top picks for 2005.
I like what I see.
my team blew past six figures today.
(not me alone, my Illinois group)
I'll be sure to put sell orders in at $6.50 before I leave the country in March for vacation. Something always happens when I'm out of the loop. Has that ever happened to you too?
T.
i apologize
for buying more shares today and driving the price up for those looking to add to their positions.
wouldn't it be great
if barrons partners divulged who they were selling to?
Not sure if this would be feasible or allowed, but I would SURE like to know !!!!
STOCKOBSERVER
is that 500 ounces a day, a week? a month,
the article does not say.
If it is 500 ounces a month, our annual sales would be $2.7 million, or a sales per share of $.0036.
seems small.
what's your take?
kitco...
The last pr about the new engineer made it on kitco's webpage.
This is GOOD coverage for sure.
SOPRANO
I agree 110%. This is my top buy.
Hurricane or not.
Tom
good news for sure.
Sad but true....If this year brings more hurricanes to the southeast, this could / should be a $5 stock.
We don't know the terms of the deal, but it sure looks like a good fit so far.
If one of the big boys decides to get into this market, PDGE would be the cherry company to buy.
EMCOR and Comfort Systems are the types of national contactors I am talking about.
Emcor has bought all of the very best electrical and HVAC contractors in our area. The best of the best. They paid up for greatness.
Backlog Comment
From a contractor's perspective, I will mention one thing from experience. A contractor can only do so much business. There comes a point when the business is maxed out and simply cannot handle another dollar of revenue. Sounds crazy, but it is true.
Ask any contracting consultant, expert, or successful contractor....Volume kills....profit thrills.
The #1 reason that a contractor fails is because they have taken on too much work and cannot get it all done.
In the case of PDGE, they have grown rapidly yet have become nicely profitable in the process. This is a very big deal.
As PDGE's backlog rises, I would urge them to raise their prices and be selective about who they will work for and under what terms. Doing this will cause profits to rise further and faster.
It sure seems as though they have learned from past mistakes and are now reaping the rewards.
I would love to know what the implied margin is on their backlog of work. This is the key to know what the future holds.
Other Comments
I am a contractor and was sitting in a job meeting yesterday.
The project is a remodel of a state mental health facility.
The mold remediation contractor (not PDGE) was going on about his progress and my ears perked up. After the meeting I cornered him and asked if he had heard of PDGE. His eyes lit up and he said ohhhhhh yes.
Basically,
PDGE used to have a Chicago office but it was closed a few years back. This guy has some dealings with them and said that PDGE was a pleasure to work with in all regards. They were very well organized, and stayed on top of all of the details inherent in the construction / services industry. Most important, they were fair and up front in their business dealings. Bills were paid on time when submitted, without a bunch of hassles. Everybody knew what was expected of them at all times. The jobs ran smoothly, and PDGE would get their hands in a lot of things. Mold removal, asbestos removal, demolition, even some big window jobs. This guy was very sad to see them close the office. Perhaps the way things are done in Chicago was too much to deal with. (Yes, it is enough to drive you absolutely crazy) But the long and short of it is that Corporate wants decent margins. (40%) If the magic isn't happening they will make a few personnel changes and if necessary exit a market. Corporate really insists on acceptable margins.
I like this strategy a lot. Try new things, and if it works, go for it. If it doesn't...move on. If a particular market is too competitive (on price) or has too many players, get out. You won't know until you try. Through tight controls and solid corporate support, good things in many branches will happen company wide.
As I review the facts surrounding PDGE, most compelling are:
The company has figured out how to make $ recently.
Backlog is solid.
We are converting better than ever. Notice the spike in sales and very flat corporate overhead as a % of sales.
We cover most of the nation, and can capture some national accounts.
The industry trends are very favorable. IT IS MUCH LESS COSTLY TO REMOVE THE MOLD THAN TO LOSE A TENANT OR LITIGATE.
Most people are terribly afraid of mold because they don't fully understand it. They DO know that it is bad. (kind of like cancer. cancer is never good, always bad)
This is a good business to be in all things considered. I imagine that purchasing liability insurance is a real wild card, but every business has that wild card. For some of us it is the cost of steel, for airlines it is the cost of jet fuel.
I like this industry, and PDGE in particular.
I am ok with acquisitions, but would much rather prefer that they buy a proven winner than a turnaround story. The turnaround stories are very difficult and take years to complete. The "hairy" operators usually get a lot "hairier" as problems are uncovered.
Further cause for excitement surrounds how this company will perform once the stuggling offices get their act together. The potential will be amazing.
Also, the T&M portion of PDGE's business is high, and growing.
This is the gravy work, people. It is hard for me to describe this type of work other than to say that performance (speed and quality) is more important than price.
In my business, I have had the $100,000 contracts make $65,000 gross profit, and the $700,000 ones make $5,000 gross profit. You've got to do your best at balancing the 2 types of work and making sure your bids on the big ones are carefully prepared.
One final key point is...if the backlog of work is rising in the offices that are doing well....look out. much better times ahead. :)
Tom
my broker got the job done.
They advised the "chip away" at it approach rather than going for it all at once. They were chipping away all day long.
I expect PDGE to rise steadily as the year wears on and more good news is released. Wall Street needs a clearer picture and evidence that the operating turnaround is complete and the profits will be there.
I'll take some of those shares.
wish I could take them all. Found out some very specific info. today about this co. will be glad to share after I double my position tomorrow.
financial advisor
thank you for your posts. They are great.
Your comparison of MYNG and FMNJ was superb.
I am glad that FMNJ no longer uses stockcomm as their PR firm.
Those people were goofs. Never returned calls, etc.
You are 100% correct about FMNJ needing a sharp web page.
A disorderly web page communicates that sloppiness is acceptable in whatever we do. Note that one of the links on gold trends in our web page is years old. There are so many other kick ass links available through kitco.com
The fact that FMNJ keeps missing deadlines is not a good sign either. If we are not operating with a sense of urgency, then nothing will ever get done.
On a positive note, it was a bold move for our ceo to move aggressively into parts of south america that most others are terrified to visit. If he is comfortable taking balanced risks like this, we could be looking real good in 2005.
Now lets get fully reporting soon and we will be smokin!
LOOKIN GOOD HERE....FEEL IT IN MY BONES.
The near record backlog is exciting,
especially since they know how to make money now.
The controls are in place and they have the right people.
This is a very good thing.
contracting can be very lucrative if you know what you are doing.
len you are a hoot.
I'm new to this board (it took awhile to register)
This is a great company and compelling stock value.
Let's not tell barron partners that selling is a huge mistake. their loss our gain.