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What is being missed here, unless I have made a serious error.
Dont forget, this report encompasses the ENTIRE 3rd quarter, or July, August, and September. We know that from the PR on 8/16 (section copied below), that as of that date they had already recovered 30 oz. of gold by processing the entire remaining stockpile of 6500 yd3. The recovery rate for the stockpile was about .2g/yd3
By doing the math, from 8/16 through 9/30 (the rest of the quarter), they processed 5500 yd3 and recovered 20 oz. of gold from newly mined gravels. A recovery rate of around .11g/yd3.
They guided us at the time of that PR that they expected the newly mined gravels to produce .4g/yd3. Why was the recovery rate from the newly mined gravels so poor and SO far off of their estimates??
The delay is for 5 Calendar days, not 5 Business days.
OR today
No, the form (it's not released, but filed on EDGAR) can only be filed M-F.
Here you'll find the most recent filings our EDGAR system has received — from all SEC filers, including individuals and companies, paper filers and electronic filers. The list on this page features the most recent real-time filings from a broad range of companies and individuals for the current official filing date (including filings made after the 5:30 pm deadline on the previous filing day). Note: Filings may be made Monday through Friday (except for U.S. Federal Holidays).
http://www.sec.gov/edgar/quickedgar.htm
They cannot buy shares back until after the 10-Q is out, and any material information about the company is disclosed to the public.
Agree 100% DeeDog, 5 days OR LESS to release - nice opportunity tomorrow for us to pick up some cheapies. I'm in for $125k right now and looking to get to $200k if the price is right - chance to triple my money on the additional shares in a few weeks. The long term hold will net me millions in the next 2 years!!
Good fortune to all!
It is today
Non-Accelerated Filers:
10-Q: for Quarterly Period Ended 09/30/11 due Monday, November 14, 2011
10-K: for Fiscal Year Ended 08/31/11 due Tuesday, November 29, 2011
10-Q: for Quarterly Period Ended 10/31/11 due Thursday, December 15, 2011
10-K: for Fiscal Year Ended 09/30/11 due Thursday, December 29, 2011
10-Q: for Quarterly Period Ended 11/30/11 due Tuesday, January 17, 2012
10-K: for Fiscal Year Ended 10/31/11 due Monday, January 30, 2012
5:30pm EST is the deadline for it to be a timely filing.
The EDGAR system hours of operation for submitting files are 6:00 a.m. to 10:00 p.m. Eastern Time, weekdays, excluding Federal Holidays. Files submitted after 5:30 p.m. Eastern (with the exception of Section 16 filings) will receive the next business day's filing date.
You can be given an automatic 5 day extension just by filing the paperwork.
I think you've covered it from every conceivable angle now Well done!
They could also file an extension for 5 days. Let's not all be amazed and fall to pieces if that happens, it happens all the time! Usually due to accountants not having the report totally prepared... Remember, we don't have an accounting department, but an outside accountant doing all of the work - and counting gold takes time!!
Do you think that anyone here actually KNOWS when the 10-Q (not a pr) is going to be released???
It said everyone who hit it on the nose, and you did!
Congrats SN! You just won a free month of iHub!!
airdale1, can you please change the descriptions in the iBox, of the Quarterly financials links, and remove the word "audited"? Only the 10-K's are audited, not the 10-Q's. Thanks!
Morning Z - just got on the MSHA site, no problem.
SN, if they did that, it would be EXACTLY what inside information is - information that is not available to the general public.
No, market is OPEN tomorrow!
http://corporate.nyx.com/holidays-and-hours/nyse
Just picked up another 36,250 @ .04
You interpreted WAY wrong! 6000 oz??? where did you pull that from???????
Unfortunately it's not that simple. All that you see listed on L2 is the lowest Ask from each MM, not all of the shares that are for sale. In other words, MM XYZ has 60,000 shares at .045, but likely has more shares at .046 and .047 too.
I'm up $50k, but waiting for the big payoff in millions
Nice! You were wise to get in after I did I'm at an average of .035 now.
My first buy
05/01/2006 09:32:46 Bought 3000 PCFG @ 0.57 -1,719.99
My BEST buy
07/30/2009 11:46:01 Bought 550000 PCFG @ 0.0015 -834.99
Low-end estimate of 300 oz. per Quarter nets us about $480,000, with $270,00 cost, or a net profit of $840,000 a year. Who's bailing on a Junior Miner with a million dollars of profit a year?? LOL
Apparently, you do chart analysis on MONDAYS also.
That's a LONG way from what you posted YESTERDAY!
I don't think that the cost basis comes into play because we are leasing the property out, not selling it.
I can't see the loss for July being more than 100k given that we did bring in close to $50k in gold in July. Also remember we have the $450,000 of income from Project W hitting the books in the 3rd Quarter too.
Let's be ultra conservative and say that they processed on average for the 2 months, 750 cy/day at .4g/cy. Also, say 20 working days/mo to allow for maintenance. That comes out to roughly 190 oz/mo, times 2, plus the 30 oz from July comes out to 410 oz for the quarter. So you may be right, or at least closer to it than my estimate was. Either way, we're talking MAJOR profits!!
Absolutely agree! I'm thinking 350-400 oz for the quarter and that anything over 400 (net recovery of about $640,000!) is rocket fuel.
EDIT - Bad math, sorry!! 250-300 is my expectation. 300 oz is a net recovery of $480,000. Over 300 would be fantastic!! If we brought in over 400 oz we are ridiculously golden!
If they want to buy it out they have to pay $2 million to us over the next 2 years I believe.
I'm looking at this as a 2-year play from this point, end of 2013, at which time I expect that we will be near $2/share. Then I will cash out my $7 million and retire!
Totally agree, need to spread the word about PCFG! I've brought 3 people who are in for 5-6 figures, but I like your idea Robo! People mark for you!!
I have a feeling we're either going to have a monster volume day today, or see under 500k shares - no middle ground.
Yeah, sorry Wolverine, I didn't see your post ill after I had answered. Also good in this case was that they already knew about it before my email, which shows that they are really on top of things!!
It is another company! I wrote Mitch about it months ago and he said that they were aware and the attorneys were going to take care of it.
Lots of eyes on us - PCFG is #18 on the most read boards with 30,000 reads today!!
Because by Securities Law, they cannot buy shares when there is material information (ie: recovery rates, total gold recovered, company profitability) that hasn't been made available to the public.
The company cannot buy until after the 10-Q comes out.