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This quarter will probably be flat (break even) due to various factors such as getting the machinery to operate efficiently and the small accident.
Plus I don't think this quarter will take into account all 8 geotextile tubes operating as we were still operating on 4 at the end of Q4 2011.
I think Q2 of 2012 will be the one for PCFG.
The key to PCFG success is $2000+ gold and finding the sweet spots in the ground which I suspect is what they are doing. The gold is not evenly distributed over the mine. Turning a small profit isn't enough to make the share price pop. We need really good numbers.
Remember when PCFG invested its initial $5 million years ago the business plan was for $700 gold.
Q3 and Q4 with the permitted expansions, all 8 tubes operating & higher gold prices should see PCFG in a very comfortable and profitable position, with extra cash to expand mining operations even further. We may even touch $2500 gold depending on how things unfold globally.
Holding quite a large position since 2008. Not adding until I hear something. Got in at mid 2's
Yup, so somebody just bought $53,000 of this stock. In today's market that's a huge bet even if your sitting on a million. I've seen this before where a shell company gets volume on no news then a couple month later they announce something huge :)
Why would they RS with such a low share count? RS usually happens when they have billions of shares outstanding.
It sure looks like it. 1.5 million shares is 3.3% of the float.
If this thing takes off it will go straight to 0.20 or even 0.50.
Plus the companies they are dealing with are pretty big.
Authorized Shares (AS) = 500M
Outstanding Shares (OS) = 84.78M
Restricted Shares = 39.59M
Float = 45.19M
This sounds promising from their last 10Q
NOTE 7. Subsequent Events
On September 6, 2011, the Company executed a non-binding letter of intent to enter into a business combination transaction with Gold Crown, Inc. Currently, the Company and Gold Crown are conducting "due diligence". On October 17, 2011, in connection with the proposed business combination, affiliates of Gold Crown made a $117,659 capital contribution to the Company. The contributed funds will be used to discharge Company debt, engage professionals to conduct "due diligence" and initiate procedures and actions with a view toward entering into a definitive business combination agreement.
I opened my position in 2009 and just holding.
The good point is some of their properties are next to NovaGold and Newmont both billion dollar mining companies.
The bad point is that their properties are undeveloped. So for this to get of the ground they are going to need a massive investment from an outside party in the region of $5 million just to put the roads, water supply and power.
If gold keeps rising then it will happen eventually but when is anybodys guess.
I like the fact that they only have 45 million shares in the float. So it will be very easy for pps to go up. They also have a share structure that is very accommodating to outside investors, unlike other mines that have billions of shares.
The fact they have been spending thousands of dollars on fillings every quarter has to count for something.
Been holding on to this stock since 2008 hope so.
probably just forex traders all jumpin in at the same time :)
Just to boost moral,
Gold on the Cusp of $3,000+ Update
It will happen for PCFG eventually. ;)
Obviously they delayed the filing because Newmont or Barrick are buying out PCFG for $1.20 a share and they need time to update the fillings. Duh?!
This is a good way to get rid of the shorts, get the price down a little, release expected or better news and have the price go up, instead of what happened last time, where the price was high and shorts took advantage of the top.
Gold jumped ~$50 nearly $1700
Brilliant story about shorting, hope this happens to PCFG! Sounds like that's what their buyback program is for ;)
How Porsche made $40 Billion
Gold back over 1800, now at $1812
I just read that article but I don't understand,
If somebody sells phantom shares and I buy them.
I have the shares in my account.
So they are not real shares?
They used the term "now believe" because if they say "it's a done deal" they can get sued by investors for misleading information if the slightest thing goes wrong.
This has happened before to many other mining stocks. Novagold had a huge legal suit filed against it for a similar statement in which they implied nothing could go wrong, even if it was just a technicality
I just have a feeling people will start investing in Gold mining stock with out looking at the numbers. We could see P/E ratios back in the 100's not 10 to 30 :)
Remember the dotcom boom?
People where paying $500/share for companies that had an internet sounding names but didn't do anything? The same thing will happen with gold miners, expect gold miners like pcfg are actually extracting gold.
People will flock to gold mining stocks once mining stocks decouple from general market sentiment.
Gold miners are Money Factories.
Gold Nearly $1900, no reason why it won't touch or pass $2000 in 3 month :)
50 Million shares didn't get dumped, 50 million shares where Bought!
If the price went down 50% with low volume I would be concerned but it didn't
Yeah what else where people expecting them to say...
They did everything they said they would and the numbers that came out where better than expected?
Unlike other penny stocks that have a single product, in which they compete with other companies, PCFG has Gold which has been going up in value. Every day PCFG becomes more viable.
This happened before when PCFG ran up to 3.5 cents. We might see low 4 cents, but after that it will start to climb back up.
$1.6 Million of new positions where established yesterday! During the last dump in April $375,000 of new positions where established.
That means 4 Times the amount of money was pushed into PCFG yesterday than 5 month ago.
Based on the proportionality of money pushed into the stock and its climb back up, we should see 0.14 to 0.16 cents in 3 month.
Over $1.1 Million dollars of PCFG traded in 90 minutes @ an average price of 0.055 Cents.
Regardless of the current price, that fact is 1.1 million dollars of PCFG was bought so far.
This is normal, after it settles down, we will slowly move back up over the next 3 month when the real news comes out.
I've waited for 2 years, I can wait another 3 month.
Plus by then gold will be comfortably above $1800 if not low $1900.
5 Million in Volume in the first 30 minutes means we have a new batch of investors at this price range that will ride it up.
They probably hoarded a few shares to put up a wall to scare off anybody trying to push the share price up. There is no reason to dump that many shares at a single price point.
yeah even when they had their crappy equipment it was just over 2
Now their just teasing us lol
Not to mention any rise in Gold Price is PURE profit, minus maybe a couple percent more per year on input inflation.
Thanks, Changed it.
Based on their terms for payment,
- 4% or $0.50 per yard of gravel (which ever is greater)
- If 4% = $0.50 then 100% = $12.50
- $12.5 / $1600 = 0.0078125 Oz
- 0.0078125 Ounces * 31.1034807 = 0.2429 GRAMS PER YARD
So basically there is at least 0.24 grams per yard by both parties estimation. Which is probably the very low end.
If it was 0.48 grams per yard then they would get paid $1.00 per yard.
Pretty good deal.
I'm not saying PCFG needs the cash, there are some companies that PCFG paid in stock a while ago, like that Japanese company. I forgot what it was for.
This could just be debt holders that have been owed money by pcfg
cashing out. They settled with a few companies for stock. They have no interest in PCFG they just want their cash.
0.08! First Trade
okay now its saying 0.089...
My Level 2 on IHUB & my Schwab Screen are showing 0.152 as the only asks available. Is anybody else seeing this? I know the markets aren't open yet but I have never seen that before.
Oh super
Things to consider for PCFG PPS,
The valuations of most gold companies in the current environment are actually higher than their predicted or current earnings, as investors see it as a safe place to put money in anticipation of higher than normal inflation and an unpredictable monetary environment.
Its important to understand that there are investors who are more interested in buying GOLD IN THE GROUND in the form of shares of non producing mines. The return is so many times higher than purchasing gold outright the risk factor is mitigated by the potential return.
If these class of investors see PCFG as a place to buy Gold in the ground, we may well see a share price well over $1.00 regardless of real-time performance figures.
For example if you look at NovaGold (AMEX:NG) or Gabriel Resources (TSX:GBU)
Gabriel Resources is many years away from production and they have a $2.9 BILLION dollar valuation. Not only that but they just got permission to mine on their claims. So people felt comfortable enough to put their money into a gold mine years ago that didn't even have the permit to mine!
NovaGold has a market cap of $2.4 Billion dollars they too are many years away from production. They require at least a billion dollars to setup infrastructure which they still have not fully secured yet people still feel like its worth investing in.
PCFG has none of these obstacles . The only thing I see holding PCFG back from these type of investors is a NI 43-101 permit which I believe they are trying to acquire.