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I am not at all comfortable with this delay. If I were a new investor, I'd be a little leary of PCFG. The recent Grassroots report and the third party promotions after a long period of silence give the perception that we are just another P&D stinky pinky out to bilk the retail investor. We can rationalize why they're late as much as we'd like, but if they want to be perceived as a viable, real company they need to get their reports out on time. No games, no excuses. The lack of communication for a couple of months and then last week's flurry of activity display a form of managerial arrogance which does not help. Since they control close to a majority of the o/s there isn't any real pressure to keep investors informed on a timely basis.
I'd be the first to congratulate them on what they've accomplished so far. If it were not for the efforts of many on this board, I would have taken my losses and moved on long ago. Think about it, though, why should we have to go get our own videos of the plant running and ferret out tidbits of information from MSHA reports or expected BULM returns? That's the company's job. The photo of the inside of the plant is not new, the equipment is too clean. It should have been on the website months ago.
I'm not ready to give up on PCFG, but I'm not that happy with them at this juncture. Get the report out NOW! No tap dancing, no, "The dog ate my homework." Now! \V/_
Getting the reports out on time. \V/_
I think I'll go contemplate my navel for a while. Too much hysteria, Rob and Mitch have a sadistic side. \V/_ ;-}
That wouldn't be too hard to do. \V/_ ;-}
Where's your pom poms? Good to see you back from the darkside. Predictions? \V/_
Thank goodness, that whole thread was giving me a headache. Let's go back to fretting about the 10K. \V/_
I've got the fact that QB is the mid tier of the OTC, but don't fully understand what the BB designation is. Put it simply, haven't had my morning coffee yet. Interesting day today. Good to see ;you on the board again. \V/_
Note: Somebody asked in a PM what '\V/_' means. Remember Spock's Vulcan greeting in Star Trek? "Live Long and Prosper." I picked it up from Robo. Some of the other posters have modified it to "Go Long and Prosper," etc.
Another piece of the puzzle. Getting more optimistic as this unfolds. They've done way too much just to announce bad news. Some of the recent cynicism has it's source in past disappointment. At first I wan't very comfortable with the PR firm and the paid posters, but when I thought through what was going on, it came to me that I was thinking with the old developing mine mind set. We've gotten used to thinking in terms of future returns. We may have to start thinking in terms of current returns. Tomorrow will certainly be intersting. Very curious to see what set of question we can come up with. \V/_
Check out Zapito's video (Item 4) in the stickies and also check out the videos in the the IBox. Watch them all and you'll get a good sense of the actual progress we've made so far. Pay particular attention to the stockpile size. Good to have you aboard, you're doing your homework. We've got our own inteligence gathering service here between Zapito, Johnny Trader and Airdale 1. They've put about 27 million into this project and it's finally coming together. Take all of the posts with a grain of saot. It won't take too long to figure out who's post are worth reading If you got questions ask them, Theres a good knowledge base here and folks are generally pretty civil )occasionaly we have a food fight, but that happens everywhere). \V/_
Everybody's a little twitchy about Friday, whether they admit to it or not. Whenever I buy a new TV or computer, I don't look at any ads for that item for at least three months after. If I did, I'd find the same item for a cheaper price and wouldn't enjoy my purchase. Something I've tried to follow with PCFG. Do the research buy your stock and trust your judgment. I think that the odds that we'll get good news are pretty high and if we don't it won't be the first time I've made a mistake. You place your bets and you takes your chances. Being in Arizonna, I sure do miss crab cakes. \V/_
We go through this everytime there's a report due. MM's this, MM's that, the company is going bankrupt, there's a shortage of tires, the sky is falling, blah, blah, blah. Wait until the report is out. Nobody knows nuttin. \V/_
Hey Dee, do yourself a favor and don't watch the share price until after the 10K. At this point, "Nobody knows nuttin!" Wait until " somebody knows sumpin." Hoorah. \v/_
PCFG isn't for the faint hearted. Keep in mind that they are processing ore at this very moment. The smoke should clear on Friday when the 10K is due. The fourth quarter should suck, but the figures for January and February are the important ones to look at. If we're breaking even or better you're home free and should see a price of around $.08. In the meantime shut off your L2 and enjoy yourself until Friday. We've been through this before; it won't kill you. Welcome aboard. \V/_
Still the tail trying to wag the dog I see. \V/_
Edit: Looks like we're back to watching the paint dry.
I'm not a guru in this area, but they are probably planning to sell shares on the OTCQB to provide funding which will require upping the existing O/S. \V/_
Morning JT. You got it in a nutshell. Lot of money going out there and it has to be coming from somewhere. Hopefully it's from gold sales. This is the same situation they were in last August. Most indications are that this time, they'll deliver on expectations.
I'm really interested on how this Pacific Metals spin off is going to work. Lot of different scenarios. The one that I like best is that there will be a call on all of the short positions.
Still haven't decided if I'm comfortable with all of this paid promotion stuff. Lot of flippers and day traders showing up as a result. Sure wish we could find out who the mysterious third party is. Hiring a PR firm isn't cheap, so either they're setting up a dump or they're making money and want to get it out to the larger investment community.
What's your Magic Eight Ball have to say this morning.
Oh, since you have some knowledge in this area, are the geotubes reusable, or do they just cut them open when they're full and then buy a new one?
Was anyone else having problems with the screen display in the past half hour or so? Weird the display was much bigger and the mods were displayed in a column rather than a row. There's a note that they're: are experiencing technical difficulties with Level 2. Sorry for the inconvenience, it will be fixed shortly," at the top. Ok things are back to normal now. Still got the stupid wishlist tab on the right side of the screen; any way to get rid of this?
Let's see if we can hold the gains today.
If you're invested in the company. It would seem self defeating to keep posting unsupported neagative stuff. Do yourself a favor and come back from the darkside.\V/_
It looks like it won't happen for a couple of months.
They are a seperate company wholly owned by PCFG.
Try going to the Edgar search engine and enter
Vanadium, uranium, and tungsten are out of their baliwick. By joint venturing with another company like Blackfire they bring in outside expertise. It took them a while to learn how to mine gold. They should stick to what they know for now and not over extend themselves.
You are a real treasure Trapper. Always a source for lots of interesting stuff. Another JV perhaps, or sell off?
Whoever wrote that blog is an idiot and obiously hasn't done the requisite dd to be able to distinguish between the parent company PCFG and Pacific metals. We've been fully reporting for a while now
You're invited to the spring yachting regalia too. You can comiserate with the other attendees about how you missed the boat. Some made money off of the ORGG deal, so what's the problem?\V/_
Pretty exciting day. Tomorrow is the end of the paid promoters contract, so I guess we'll have to see if the gains can be held. So far, this has been pretty well orchestrated; I wonder if they have something planned for tomorrow? This sure is better than watching the paint dry. Certainly not boring. Getting a little more optimistic as this plays out. Can't find the Magic Eight Ball.
We've seen bear raids before and survived. A lot of today's action could be flippers taking a quick profit for beer money. \V/_ ;-}
"Not anymore," does that mean you were in and then flipped recently?
We'd like to invite you to our spring yachting event to be held at the PCFG settling pond for all of those who missed the boat. Bring your own inner tube and Mae West. We wouldn't want to get another MSHA citation. The main dish will be crow. Careful with that red flag you're waving; you may get run over by a ragging bull.
The dividend announcement is an SEC document with a fairly limited time frame. The share buyback is open ended. Apples and oranges. Actually, it's a pretty clever way to put an end to the shorting problem. You should have your real information on Friday. \V/_ ;-}
Good, you're in your Mr Hyde persona. So, are you back in? \V/_
You need to update your disclaimer, I don't see PCFG on it. Thanks.
With Robo being absent, someone had to pick up the slack. This seems to be a well orchestrated plan that's coming together nicely. I still have my concerns and will continue to curb my enthusiasm until I see the 10K. The dividend ploy is great; it cleans up the shorting mess. \V/_
That wouldn't be hard to do.. Things are definitely looking up. The dividend news is great, requires a census of shareholders. \V/-
Looks like I might have to practice my cartwheels. ;-}
It's of course interesting and tantalizing, but we have to keep in mind that they are a PR firm and the information is going to have a positive slant. I'm also not completely enamored with their math. A little cynicism when dealing with paid promoters is not a bad thing. One thing I did notice was that their predicted production for BRCM was slightly lower than 6,000 ounces a year.
I'd like to see them have an average 140 yards per hour with a recovery rate of .3 grams/yard or better and at least a 50 hour week. We may be sitting on a billion, but for now let's work on our first million. With all the excitement over the past few days some posters seemed to be getting ahead of the curve. Show me the beef and I'll do cartwheels.
The real burr under my saddle is all the paid for hype going on. So far $12,300.00 from the elusive third party has been identified. One of PCFG's attractions was the lack of pump and dump tactics. That's gone now. I'm wondering if we'll be able to sustain any gains created by the media blitz. I doubt it.
If the news is good we'll be OK. If not, we're screwed. But that's obvious isn't it? I strongly suspect that the note holders with the conversion options are behind this pumping exercise.
We all have lingering memories from what happened in August when we got way ahead of ourselves. I'd be more than satisfied if we got to the break even point in early 2012. Hopefully, we'll know by this Friday for sure what's going on. Still cautiously optimistic, but not overly enthusiastic.
When it's all said and done all this hype may have been an unnecessary ploy and PCFG can finally stand on it's on merits as a producing jr gold mine. As for the outstanding debt, pay it down or negotiate better terms with limited stock options. Either one is fine with me. \V/_
Did you notice when they were talking about PCFG they used the old 200 yards per hour rate instead of the more recent 150 yards. Think that might have skewed the numbers?
Another paid promoter. Curioser and curiouser. P&D?
Edit: That puts the running totl paid to promoters @ $12,300
There's been a lot of information put out in the last couple of days. Perhaps, so much that it will take some time to digest it all. With the caveat that "Nobody knows nuttin," I'd like to add a few comments which will, hopefully, clarify some of my concerns. Nobody has been taking a lot of flack over the dilution issue, but it still is the six hundred pound gorilla in the room. If they need to raise $7,000,000 for expansion that may mean a lot of new shares. He does have a point. It seems to me that we've got the cart before the horse and without any finacial data from the company we're just taking a shot in the dark with our projections. I'm not trying to be cynical, but numbers cited by the PR firm need to be confirmed by the company to be valid. They are, after all, a PR firm hired by the company to increase the share price. and it's not in their best interests to broadcast anything negative about the company.
We are also carrying a pretty significant debt load. We do owe a lot of money. I would like to see the existing debt and liabilities reduced to a more manageable level, if not completely eliminated. For example, we still owe the Feds for fines going back to 2007-8 from the MSHA inspections. Pay down the debt first before thinking about expansion. If we do any expansion, we should do it at BRCM where it will have the quickest effect on the bottom line. If they make that their cash cow, they'll have an easier time financing the other projects. Adding a second shift at the processing plant is the quickest cheapest way to boost revenue. At this juncture we're not even sure if they're breaking even although there are a number of indicators that they are. BRCM has to be up and running profitably for any of the other stuff to be possible. What I want to see is throughput and recovery rate before I start doing a jig. They are still not 43-101 compliant, so you can add that to the "to do" list.
The share buy back proposal is not really an option until they have enough money to do it, so that belongs on the back burner for now. Up to this point, most of their restructuring of debt has been with shares and/or options. I'd sure like to see that stop as soon as possible. Senator Dirksen used to give an annual budget speech where he said, "A billion here, a billion there, and pretty soon you're talking real money." We need to stop hemorraging shares like Nobody has been saying.
Some final thoughts about the mystery third party. I'm just not comfortable with that at all. Somebody outside the company is paying to promote the stock to increase share price. Without knowing who it is, it's not all that difficult to create a number of conspiracy theories related to the promotion (none of which will bode well for the share price in the long run). We're beginning to sound like a P&D with all of this recent activity, and I'm definitely not comfortable with that. Still cautiously optimistic with the emphasis on cautious. Let's see what develops in the next couple of days--should be interesting.
I do think that January and February will be profitable, based on what we've been able to ferret out from a variety of sources. Just a hunch though. \V/_
Most of these are short term gains. It would be interesting to see what the average share price was after a year or two. Tomorrow may prove to be interesting, once the paid promotions slack off. Hopefully we'll be able to maintain our gains. I used to be upset when the IRP's showed up, but they are getting the basic information out to potential investors which saves on them doing a lot of dd. What they've posted has been accurate, so it's not all bad. I'm wondering if there's something like a bull raid? Oh, I guess a P&D campaign is a bull raid. Caveat Empor. Still not ready to get the pom poms out, yet. Have you or anyone else found out how much the PR firm was paid? Anyone found out who the mystery third party is? \V/_
Go to the PR firm's website and subscribe for free (requires a check mark to get solicitations which can be deleted later) and read the reposrt some is for operations, some for Fernley and development. The report is copyrighted, so I'm not directly quoting it.
Haven't gone rogue, but I am suspicious about some of the recent hype, fluff and BS. I'd like to see PCFG make $.10 based on merit rather than a paid for promotion. If it smells like it, it probably is. Cautiously optimistic, still. ;-}
If they require $7,000,00.00 in additional capital, Nobody3 may have a point; although, .04 is a pipe dream. \V/_
Oh really, go to their website. They are a professional PR firm and don't promote a company out of the goodness of their collective heart. Many here have had their wish fulfilled for a professional PR firm fulfilled. So far I've identified $3,300.00 paid out by the elusive third party(s) to promote PCFG. There's probably more out there. If you actually read the report, it says they need an additional 7 million in start up funding and that they aren't expected to be profitable until 2013. So, the news isn't all that good. With the professional PR firm and the third party paid promotions, this is not passing the smell test. It's beginning to look like a pump and dump campaign designed to screw the retail investor. Further their math seems a little fuzzy to me, but I'll reserve judgment on that until I see the actual numbers in the 10K. If this takes off, don't forget to take some profits on the way up. \V/_
Beware the smoke and mirror.