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So the increase in the geotube field is essentially pointless without a concurrent increase in the process line capabilities. Correct?
Obviously, if they intend to expand the capabilities of the process line there will be permits and inspections required.
I guess the point of the question was if approval for expansion of the processing line was relavant to an "overall" increase in the permitted amount. I know that they need BLM & NDEP approval for an increase.
It has (to my knowledge) never been stated what throughput levels the process line can handle. Can they manage 150%, 200%, etc... of the current permitted levels with the current set-up. At what point will they "have" to expand the plant?
This is an excerpt from an email I sent to PCFG about 3 weeks ago (haven't heard back from them yet). I don't really expect anyone to have an answer to the question posed at the end of the excerpt, but I thought I would throw it out there and see what the "board's" perspective is.
Concerning the PR dated August 15, 2011; Under the "BRCM mining process" heading:
Permitted Volumes of Production at BRCM - The BRCM is currently permitted to mine and process no more than 810,000 tons of material per year. This is approximately 540,000 cubic yards, based on the average weight of gravels at the BRCM. The Company can process this material in the time frame that it sees fit so long as it is within 12 month intervals. There is no monthly or daily limit. The Company's current plan is to process 40,000 yards per month but the amount could fluctuate from month to month. As currently configured the plant can handle a maximum of 150 yards per hour. In order to increase throughput at the screen plant, the Company can operate more hours or expand the plant. Taking both actions together would allow for an even greater increase in capacity. To expand the plant would involve adding a second Trommel (or one larger Trommel) and a second Knelson (or similar) concentrator, more hydro-cyclones, and additional various pumps. As well more geotextile bags would be required to clean the increased volume of water. The Company has applied to increase is geotextile bag field size with the NDEP. In order to increase production beyond the 810,000 ton limit of material per year, the Company would have to apply to modify its Plan of Operations with the BLM and NDEP.
In relation to the section that is bold and underlined: Does this mean that approval is needed for the Geotextile tube expansion (due, I presume, to water usage issues), but approval is not necessary for increased process line capabilities? To me, that point is not clarified.
Good point!
You ought to know by now that RT's posts are evasive, generally irrelevant and typically only serve one purpose. His best interests! BTW, what is the focus of the spread sheet? Unless I missed something, I don't believe you have said what it is about.
I guess I can go to bed with a smile on my face. Glad I stayed up as late as I did!!
I wonder if this news will have any impact tomorrow? Time will tell!
Night all.
So this means that PCFG gets in infusion of cash (near term) immediately, with subsequent payments on the determined schedule, correct?
JS, can you please stop beating a dead horse? I think this horse (topic) "gave up the ghost" quite a while ago.
No matter (at this point in time) if they are pulling 4,000-7,000 or 6,000-12,000 oz annually. They are pulling gold from the dirt! RT may dispute that, but that's his deal.
The rate of return on the process will be determined shortly. Until that time, everything is nothing more than mere speculation.
You stated the profit you made on PCFG and I have no doubt that it is true. I could have tripled your statement if I had sold all I hold. I just have to wonder, have you become the "self appointed" watchdog of those whom refuse to do DD. What is your angle?
In the recent past, I've defended your posts due to the fact that you presented reasonable statements to back up you perceptions. But now, it seems that you are purely looking for an arguement. Validation and relevance of your concerns is all that I seek.
You are not a legend in my mind. Other than a legendary annoyance.
As far as why I hold onto PCFG: Do you know of any producing gold miners that are in this PPS range? I know you will say in response something like "grains of gold from tons of dirt".
I understand that there are alot of questions as to why we (PCFG) are at the PPS we currently are. I don't know if I am wrong or I am right, but there is a strong indication that this stock is under the thumb of the MM's. Once the pressure of the MM's is released (if you perhaps concur that such is an issue) what is your perspective of where we will be.
If you do not believe that there is any MM manipulation, Why do you believe that we lost +/- 50% of our PPS after the 10q release? A definitive answer that does not involve subterfuge would be appreciated.
"The Great DD In My Posts"??
For the most part,(Yes you do have some valid points, I won't deny that) the bulk of what you state has no basis in fact. You are "A legend in your own mind"!
Just for the sake of satisifying my curiosity. Do you not find the repetitive nature of your posts tedious?
Tsk, Tsk.....
Give Em a little time to mature. We all have our growing pains. They were apologetic for previous statements.
"I think it's a great buy and I'll be holding on for a while."
You're in good company. Many here share your perspective. Some don't, but that is what keeps life interesting.
Welcome aboard.
If that "rings his bell", fine with me. As long as I don't have to participate!
Though it wasn't always so, I try to respect the perspective of all who post (as long as they have validation for what they state). That is the key for me "validation". Positive or negative, back up what you say. "TO DA MOON" annoys me as much as "This is gonna tank big time BETTER SELL!"
Personally, I think there are some whom need a leash on them (Let's see uhmmmmmmm RT as an example!). It is not my place to restrict their activities though.
Hey SN. I hope that you didn't take "selling" as my personal perspective. I would hope that you know my stance on PCFG better than that!
The option to sell and/or not buy is for those whom do not trust the DD. I for one will not be deterred in my belief in PCFG until I am given valid reason to do so. As of yet, no matter the negativity that is spewed by many, this has not gone far enough south for me to suspend my belief in the potential.
GFTY SN
Just for the sake of curiosity, anything in particular or "all of the above"?
Personally, I think you could have referenced to a better one of your posts if you wanted to make a valid point. This one was kind of juvenile, to say the least. You have better posts than this.
And, yes, some here do take their perspective to an extreme.
I believe that this channel that we are currently in is causing alot of jangled nerves. PCFG is kinda in a "damned if you sell and damned if you hold" state right now.
If you believe in the future potential, hold. If you don't, exit stage left. Can it get any simpler than that?
"return the punt for a home run" LOL
Got it. Hope everyone else did.
Just for the sake of clarification. Should all responses be "Post new message, RE:none", but still say what we want to say? For the "questionable" posts, that is.
Thanks. I will wait to see if I get my "definitive reason". Likely not! I think (based upon the responses to that post) the general consensus is that the poster is FOS.
I hold millions (not in the .002's but the .02's). I, and many here, have not and will not sell until the true value of this stock is validated.
Please, please, please give me a definitive reason as to why I should sell. So that you can get a cheaper entry? I think not!!!
Play your games elsewhere! You are in the wrong place at the wrong time!
Nuff said!
PS: Perhaps you should stick to your REE's and avoid gold investments!
Thanks. Very helpful!
Do you know if dtcc info on a company is publicly available? And if so, where to find it? It would be helpful to know for future DD efforts.
BTW, I share your perspective concerning Zecco.
Thank you. I wasn't sure how to respond to that one. I think you covered it well.
It is unfortunate where we are currently (PPS wise). We are in a holding pattern at the moment. The next 40 days or so should be very telling! I think alot of decisions will be made by investors within and/or shortly after that time frame.
As always "Watching with guarded optimism".
It still bothers me that I can't transfer my 51,000+ from another account into my Zecco acount sumply because they do not have a valuation of $1.00 or greater. As you said, PCFG is now a fully reporting company.
I haven't traded any shares since early July (the powder keg ran dry), so I didn't know if the DTC eligibility was an issue or not. My concern was what would happen if I had chosen to sell some shares. Zecco stated that it may take as mush as 3 weeks for the excess charges to show up.
I may at some point in the future switch brokers simply so I can consolidate my shares into 1 account. Of course, when we break $1 it will be a non-issue. LOL
Have a good one Y'all.
So sad. A couple of damned good people whom supplied alot of mighty fine info!!
Not good, not good, not good!! Dammit!!!!
I'm not sure if this is an appropriate post for the board, but I found it to be interesting commentary. I hope others do too. I culled it from one of my many newsletters.
It is sad to think that people can’t afford to visit friends and relatives because they don’t have the cash to pay for gasoline. Oh, for the good old days! We remember buying gasoline for 25 cents a gallon back in the early ’70s.
Sigh...but that was before Richard Nixon came up with the funny dollar we have today. Let’s see...suppose Nixon had done the right thing? Suppose he had honored America’s commitment to settle her debts in gold?
There would have been Hell to pay in the mid-’70s...but isn’t it better to pay Hell sooner rather than later? After all, the entire amount of foreign claims against the dollar at the time was something on the order of $50 billion. Now, it is around $4 trillion. Maybe more.
So, just for fun...let’s imagine what would have happened. Of course, there would have been this aforementioned period of wailing and gnashing of teeth. And then? And then, US producers would have had to get busy making and exporting products...while consumers would have been forced to curtail their reckless spending. America’s trade deficit would have remained under control...and the US would still have jobs in manufacturing. And it wouldn’t have debt equal to 370% of GDP.
But how much would people pay for a gallon of gasoline? Well, let’s see...let’s assume that gold has done a fair job as real money, of holding its purchasing power steady. Back in the early ’70s you could have bought 160 gallons of gas with a single ounce of gold. And today? At $1,800 an ounce, and gasoline at $4, you can buy 450 gallons. It’s as if the price of gasoline had fallen to about 10 cents a gallon!
Hmmm....go figure.
Either gasoline is too cheap. Or gold is too expensive. If we were a trader we’d short the latter and go long on the former.
And since we’re always just guessing, we’ll take a guess as to what this means...
Gasoline is weak because the economy is fundamentally weak. Gold is high because Richard Nixon destroyed the integrity of the dollar, the US economy, and the world’s monetary system. Each of these trends will have to play itself out. In the meantime, gasoline...and/or gold...may need a little adjustment. And the storm continues...
Yeah, what did happen to Fox? I hope it was for personal reasons like too busy with other things in his life to tend to moderating. Damned good DD put out by him on way too many occassions to count!!!!!!!!!!!
Who did you change to? And from whom, I suppose. Zecco said they will no longer even process account transfers that contain stocks under 1 dollar, at any cost. Horse puckey!
As a follow-up to my prior post, I contacted Zecco (who uses PENSON as their clearing firm) to check on the DTC status of PCFG. Based upon their current information, PCFG is DTC eligible and will NOT incur any extra commissions or trading fees.
Also, I placed a call and left a message with PCFG asking to confirm their DTC status. I will not consider the issue truely clarified until I hear back from them.
Looks like it will be a red day today unless the fact that ROBO showed up changes the course of things in the last 40 minutes! LOL
I know this is not PCFG specific, but considering the fact that PENSON is the clearing firm for many brokerage services, I believe it may be of interest to many.
Perhaps the new fees to be imposed by PENSON on shares trading below $1.00 that are not DTC (Deposit Trust & Clearing Corporation) eligible if a form of financial butt covering. Just a thought. Interesting nonetheless.
Penson Worldwide (NASDAQ: PNSN) appears to have concealed from shareholders bad investments resulting in massive losses.
Penson specializes in processing trades in securities and derivatives contracts for broker-dealers. Penson may have withheld significant information about the financial risks of its business to the detriment of stockholders. We are interested in speaking to investors with losses in PNSN who would like to pursue claims.
We are investigating specifically:
Penson stated that it had $97 million in receivables when in fact, $43 million of these were actually backed by an insolvent race track project in Texas which Penson management knew or should have known represented lost funds. Thus Penson's stated assets were vastly overstated and should have been counted as nearly worthless by the end of 2010. Because management failed to report this PNRN's reported income and earnings were greatly overstated and the financial statements made to investors were improper. Call Our lawyers to discuss your rights.
Timeline of Penson Disaster:
May 9, 2011. Penson disclosed Receivables of about $97 million, $43 million of which were securities issued by a failed horse track project.
May 9 and May 11, 2011. PNSN stock declines from $5.45 per share to close at $3.93 per share. A share value loss of 28%.
May 12, 2011. Penson director Thomas R. Johnson resigns citing: "Mr. Johnson's position as chief executive officer of Call Now, Inc a holder of a portion of the Retama related collateral, both Mr. Johnson and the Company felt it appropriate for him to resign his position at this time."
Penson shares continue to drop another 21%, to close at $3.12.
August 4, 2011. Penson states: "the Company recorded a non-cash write down of $43.0 million, equal to $26.7 million or ($0.94) per share net of tax, against $96.6 million of non accrual receivables. The write down was recorded in conjunction with Penson's initiation of foreclosure proceedings on the majority of the collateral underlying these receivables, including, but not solely related to, certain assets associated with the Retama Development Corporation, and shares of Penson Worldwide stock."
August 5, 2011. Penson shares fall another $0.49 per share (about 19%) ending at $2.12 per share.
Oh,ok. Coming off of night shift and am tired. I must have missed something somewhere down the line.
"By the way the Pooo oh pot is full! And is it spitting out anything worth money?"
What pray tell is a "Pooo oh pot"?
Many of us here are "recent" longs (Oct-Nov 2010) and we have a buffer from the recent price swings due to the fact that we bought in at the +/- 0.019- 0.026 price range.
Though I am sure that many like me have trades that have gone into the red in the past few weeks. (Part of the process of being an investor, or trader or whatever you want to classify it as). We are still in a "good" position relatively speaking.
I have to feel sympathy for the recent sharholders though! I have a friend at work who bought at the two worst times in recent history: The day of the production announcement and the day of the quarterly announcement. He has been hammered!! I "gently" suggested that he buy on the dips to average down. But, he was afraid to buy and afraid to sell. I don't blame him in the least!
I'll shut up now, starting to ramble.........
GFTA
I just have to wonder. If we hadn't had the multiple recent margin increases, what would the POG currently be? Any guesses would be pure speculation though I suppose.
The few whom are in the position of power control the many whom are not!
Anyone care to speculate when there will be another margin increase on gold to try and bring the price back down?
There were a few others besides VLF, though his was likely the most convincing package sent (based upon his description). If any of the people whom sent packages effected any change, they deserve the gratitude of many!
Damn, I need to get to bed. This board is going to be the death of me!! LOL
BYE, BYE.