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I have owned stock in this company since Feb.2006,and still do, and have always followed it on different message boards , including this one. Just haven't posted here until lately.
There isn't much DD that I am not aware of.
Do we have a property yet? Will the Georgia property make a comeback. What happened to the Arizona property?
I agree, the share structure combined with the various properties, makes it an extremely attractive mining play. There is lots of good reading in those pr's.
It's just a matter of time. Hopefully sooner than later.
This stock is has loads of potential.
In summary, as you can probably guess, I love this stock, and can't wait to see what they come up with next.
as of October 2009 all financial obligation of monies, stock accruals or other due to the following parties for complete term of service was relinquished:
How big of them to give up their interest in nothing. Considering they left us shareholders holding the bag, without any news for 2yrs.
Pr from 2008 from the last new CEO
Thursday, September 4, 2008
Letter to the Shareholders from New CEO Nicholas J. Slinde
Dear Shareholders:
By way of introduction, my name is Nicholas J. Slinde and I am the new Chairman and CEO for Drake Gold Resources, Inc. I wanted to take this opportunity to express my gratitude to the management and shareholders at large for taking the time to discuss their concerns about Drake's current condition and offer constructive ideas for obtaining profitability and enhanced shareholder value moving forward.
In the end, we all share a common interest in Drake's future success. I believe each of you will be pleasantly surprised by what I hope to be a new era of corporate governance. This will include a fundamental commitment to transparency and maintaining an open dialogue with our shareholder base.
Each of your comments and suggestions are enormously important to Drake's success and will be given due consideration as we attempt to move towards sustained profitability. With this in mind, I will be taking the time to publicly answer shareholder questions that I feel to be most pertinent to investors as a whole. Please write me anytime at CEO@DrakeGold.com. My answers will be posted on biweekly to the Drake Blog (http://drakegold.blogspot.com)
I know that this organization and its shareholders have gone through some difficult times. I also understand that many of you are frustrated by what is perceived to be lack of carry through and execution. All I ask is that you work with and not against me as I try to turn things around. I assure you that I am personally committed to the enterprise and will do my best to enhance shareholder value and stabilize the company's operations.
Thank you for your anticipated support and patience.
Nick
Posted by Drake Gold Resources at 10:14 PM
Labels: CEO, Nicholas J. Slinde
More pr from 2008
Nothing for the next 2 yrs, until the new website popped up recently. (coincidental with the high price of gold, and the recent amounts of money flowing into gold plays?)
Thursday, September 11, 2008
Share Structure Update
By: Nicholas J. Slinde, CEO and Chairman
I want to thank all of you for your comments over the last week. Understandably, most inquiries concerned my plans for the company and specifics about pending projects, cash flow needs, pinksheets status and share restructuring. It was necessary to perform my own due diligence with respect to the Georgia and Arizona projects. The deficiencies in the base documents have been resolved and we are attempting to reengage our third party consultants and assemble project timelines. Numerous opportunities for generating cash are being explored. I believe our current cash needs are manageable and every effort is being made to advance the projects as soon as possible. We are working hard to finalize the revised financials/disclosures for submission to pinksheets and expect to have that completed within the next couple of weeks.
In recent months, the Drake Gold Resources Board of Directors has reviewed a range of unsolicited proposals relating to the expansion of Drake’s core business. A number of said proposals included a requirement that Drake adjust its share structure through a reverse split or an increase in authorized shares. Albeit unrelated, it has also come to our attention that many in our shareholder base are concerned about such an adjustment. Drake’s Board of Directors has determined that adding an additional corporate direction, undergoing a reverse split or increasing authorized shares would not be in the best interest of shareholders and will detract from Drake’s core business.
As such, our primary focus has been and will remain the exploration and production of precious metals as well as other mining related ventures.
Posted by Drake Gold Resources at 4:13 PM
Labels: CEO, Nicholas J. Slinde
Pr from 2006
Drake Gold Resources Inc. Signs Management Contract With Thunder Gulch Resources Ltd.
Drake Gold Resources Inc. (OTC: DKGR) is pleased to announce that it has signed a management agreement with Thunder Gulch Resources Ltd. (TGR)
TGR has agreed to an exclusive 48-month contract to perform services and operations for Drake Gold Resources Inc.
The agreement will provide DKGR with such general corporate, administrative, technical and other services that Thunder Gulch Resources LTD considers, such as engineering management services as necessary or advisable for the due and proper management of DKGR to achieve the goals and needs as determined by the policies and proceedings of the management and the board of the directors.
The president of Thunder Gulch Resources Ltd. said, "This agreement is very big step for both TGR and DKGR, and we are ready to begin operations as soon as possible, and with a number of potential projects already on the table we will steadily increase the value of Drake Gold Resources Inc. through diversified operations."
Clayton Smith, head of investor relations and consulting of Drake Gold Resources said, "Meeting personally with the principles of Thunder Gulch Resources Ltd. over the last few months has proved to be very beneficial, and we can't express our excitement enough for the future of Drake Gold shareholders, the agreement will lead to many successful operations."
About Thunder Gulch Resources Ltd.
Thunder Gulch Resources Ltd. (TGR) is an independent mining operator and project developer. About Drake Gold Resources Inc.
Drake Gold Resources Inc. is an early stage mining company that focuses on the exploration and production of precious metals. Several projects have been identified through its resources in North and Central America, which will be released as the agreements are completed. The company has allied itself with a team of professionals including Richard Biscan of Tara Gold Resources Inc. (TRGD) and Thunder Gulch Resources Ltd.
Nothing is going on. New website, same old crap.
Thanks. I am still in it with you. I got my money back and a little profit, but I still have a lot of shares, and this stock is going much higher, and I don't plan to miss out.
It's been a long 5 years, averaging down all the way, but today makes all that frustrating wait worthwhile.
Excellent research Trapper. That 2004 report was a very interesting read, and contained a wealth of information. Well done.
You could be right. I sure hope so. I will do ok at .05. My cost is .0023, and I will still keep some shares to see where the market takes me.
I am happy at .05. The last time this stock traded at .60, the had less than 100 million shares, outstanding. If I remember correctly. A one hundred million share day will help exposure, but is only 2 million dollars.
At over 700 million shares, .20 would be stretching it. We will be lucky to see .10 without another PR announcing full poduction date and or new production estimates. After that it probably will not move much until an earnings report. There are just too many oustanding shares.
With the news out this morning, we should already be at .05
No sure what you said, but thanks for trying to clear that up for me.
600+ posts today. Holy S***t. I am almost 6 years with this stock, and am a firm believer in PCFG, but there is such a thing as overkill. So many posts over and over by the same people makes the stock look like a pump and dump, rather than a solid gold play. It also shields the good informative posts from people coming to this board for new information.
I don't know about that. There is a rumor out that the James and Younger brothers, are getting their gang back together.
Strange that the PCFG website is still not updated. The property information pages couldn't have changed that much.
I agree, and am counting on it. I just don't see it hitting a dollar. If I am remembering correctly, the last time this stock was over a buck, they had less than 100 million shares outstanding.
Even if the A/S are reduced. THey still have 743 million oustanding. That is a lot of shares.
I am not a fan of r/s. I have gone through it this year with 2 other stocks, and not with good reults.
Based on the next news release being favorable, and the stock price moves to somewhere in the neighborhood of .10, does anyone think we might see a reverse split of 10/1 or 20/1, to put the stock price around $1-2,making this stock more attractive to institutional investors, and/ or getting listed on one of the big exchanges?
Based upon 10,000 ounces, monthly estimate would be 833 ounces.
A quarter of a month's worth of gravel hopefully should contain somewhere in the ball park of 208 ounces.
The Black Rock Canyon Mine 10,000 ounces in a full year of production. And so, it's 10,000 ounces and then , we're looking to do 15,000 ounces and then increase to 20,000 ounces.
The difference between a full production in 2008 and 2009 is in regards to permitting. Right now, the way we permitted because you have to look at your, for bonding reclamation, where you have your cost upfront, we did what was reasonable for the company to afford at that time. But we feel confident we're going to able to increase our permits once we reach those levels because we're creating jobs in the area and there is not too much around there for people to complain about. And Cortez runs 24 hours so it shouldn't be an issue for us. So, once we kind of mastered our 10,000 ounces and we're hitting that gold then we feel confident that we can go back to the BLM to increase our permits and go to two or three shifts a day and that's why we have an increase over the next couple of years.
Black rock canyon mine circa 1996????
VAL-D'OR, Quebec--(BUSINESS WIRE)--April 11, 1996--MINERAIS BAREXOR INCinc - is pleased to announce that it has completed the acquisition of the Crescent Valley Gold Placer Mine, located in Crescent Valley, and now owns 100 percent of the project.
The mine consists of over 8,500 acres in the Crescent Valley/Battle Mountain Gold Trend of Nevada and is fully serviced with a 23,000 volt state power line and its own water supply. All necessary mining equipment including earthmovers, bulldozers, and haulers is also present. All necessary federal and state government permits for mining and milling have been received.
The mill consists of a wash plant, separator and gold concentrator that also produces marketable gravel and sand products for the local mining and construction industry.
The gold deposit consists of coarse gold contained in gravels of buried canyons and gulches entering from the Shoshone Mountain Range into an alluvial fan deposited at the mouth of Crescent Valley. The gold bearing gravels are located at or near surface and are anywhere from 15 to 110 feet thick. Grades to date vary from 0.02 to 0.06 ounces per cubic yard, but grades increase significantly with depth and up canyon. Grades of up to 0.06 oz/ton have been returned in bulk samples.
Yearly production at one shift should be 22,000 ounces of gold; at two shifts production, output would rise to over 40,000 ounces of gold. Operating costs have been established at $180.00 US per ounce. Total operating profit Operating profit (or loss)
Revenue from a firm's regular activities less costs and expenses and before income deductions.
--------------------------------------------------------------------------------
operating profit
See operating income. at $385.00 US per ounce is forecasted to be over 4.5 million US dollars on a one shift basis and over 9.5 million US dollars on a two shift basis, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. independent reports by C. Belanger, P. Eng P. ENG Professional Engineer
P. ENG process engineer . and Bharti Engineering.
Present proven and probable reserves are approximately 6,000,000 cubic yards at a grade of 0.03 ounces per cubic yards, according to independent reports by C. Belanger, P. Eng., and Bharti Engineering. However, grades increase significantly at depth and up canyon. According to an independent consulting report, even though large areas of untested areas remain on the property, present potential reserves are in excess of 100 million cubic yards.
The minesite is located only 10 km north of Placer Dome's Pipeline I and II deposits where over 7.5 million ounces of gold have been discovered, and 8 km north of the Gold Acres/Cortez mine where over 7.5 million ounces of gold have also been discovered. The property is located in the Battle Mountain/Crescent Valley Gold Trend. According to a recent market report by Georgia Pacific International Securities, the Battle Mountain/Crescent Valley Trend contains over 20,000,000 million ounces of gold in the immediate vicinity of the Barexor property.
The Company also has under lease and ownership two claim groups in the Crescent Valley area, the 153 claim BRU-Lovie group located less than 2 km from the Robertson gold deposit, and the 36 claim Hamilton-Tracy group also located in the same area.
The properties are located in the heart of the Crescent Valley Gold Trend, where over 20 million ounces of gold have been discovered in the past 5 years, contains the geological rock types and structure, including the presence of the NW trending Mud Springs Fault, an important gold conduit in the area, that are necessary for gold ore bodies in the Crescent Valley Trend.
Stay the course. There are others here who are in the same boat, myself included. This is a good stock to own.
Mud springs may also be rich in silver and contain Molybdenum, based on the following drilling results from another mining company in that area.
Detailed geologic mapping and sampling were completed at the Mud Springs project in 2005. Mapping reveals a widespread system of gold- and silver–rich veins, perhaps related to the upper levels of a molybdenum-bearing intrusion. Of 207 samples collected, 8% contain +300ppb Au, 5% contain +100g/t Ag, and 20% contain +0.01% molybdenum (“Mo”). Grab samples of veins and silicified fault zones contain concentrations ranging from background levels up to 9.97g/t Au, 785g/t Ag, and 0.0746% Mo. Other base metals are only weakly anomalous, generally less than 100 ppm combined copper, lead and zinc at surface, but lead and zinc show distinctively zoned increases with depth in drill holes.
The Company’s 2007 drilling program
A total of seven reverse-circulation drill holes (1,397 meters) were completed at Mud Springs. Geochemical zoning and alteration suggest molybdenum mineralization may lie at depth.
Surface samples of veins and historic small mine dumps contain up to 1 g/t Au and 381 g/t Ag. Three zones of veining have been identified, one with a strike that can be traced for more than a kilometer before being covered by gravel. Evidence of several drill holes has been found on the property, possibly related to earlier exploration for disseminated gold potential.
On a more positive note, some of this stuff is already common knowledge, but this is a link to a Wall Street Analyst Forum Presentation transcript by the PCFG COO. I found this on Seeking Alpha, awhile back. You can read the presentation, and the question and answer period which followed. This may help some of you feel better about this company, and it's management.
http://seekingalpha.com/article/45057-pacific-gold-the-wall-street-analyst-forum-presentation-transcript
From PCFG coo, Aug.2007
"....we have about 0.5 million ounces of proven probable inferred resources on the Black Rock Canyon alone. And it doesn't include the mudflow ... So, there is additional pay gravels potentially in that area."
From Coo at a conference back in Aug.2007 ,based on 2007 metal prices.
At full production for the tungsten Project W with a 75% recovery rate of tungsten and 65% of zinc, copper, and silver. We got up to $70 million of revenue per year for up to 10 years at 3,400 tons per day at current metal prices.
Our cash flows as we move forward, we're looking to do at The Black Rock Canyon Mine 10,000 ounces in a full year of production, once we get up to that. We are looking at our plans to design to do about 2,000 yards per day in places of operations where we deal in volume as opposed to the weight. So, we talk a lot of in yards per grams, opposed to just tons. And so, it's 10,000 ounces and then in 2009, we're looking to do 15,000 ounces on there and then increase to 20,000 ounces.
The difference between a full production in 2008 and 2009 is in regards to permitting. Right now, the way we permitted because you have to look at your, for bonding reclamation, where you have your cost upfront, we did what was reasonable for the company to afford at that time. But we feel confident we're going to able to increase our permits once we reach those levels because we're creating jobs in the area and there is not too much around there for people to complain about. And Cortez runs 24 hours so it shouldn't be an issue for us. So, once we kind of mastered our 10,000 ounces and we're hitting that gold then we feel confident that we can go back to the BLM to increase our permits and go to two or three shifts a day and that's why we have an increase over the next couple of years.
Thanks. I have bought and sold this stock since 2004. I would like to see it go back to .63 cents again. It is one of the few mining stocks that actually have a chance at mining something.
Highlights from article by hotstocked.com on Google finance 4 hrs ago.
Pacific Gold Corp. hit the huge gain yesterday. Unexpectedly, the stock soared 113.19% and its traded volume jumped over 47 million shares for the day. That's a phenomenal gain for the pink sheets company, as its market position has been very uncertain.
Just a week ago, the company was fighting to retain its position by spreading rumors about some Geotextile tubes testing in the Black Rock Canyon Mine. These days, the provocative announcements continue.
Apparently, the positive news provoked traders and PCFG started to climb. In case the optimistic announcements continue, it could be a new bullish trend for the stock.
As the company hasn't filed recent reports with the SEC, no one knows its current financial condition. The only information available is an 8-K form, reporting a material agreement between Pacific Gold Corp. and Crescent International Ltd.
Management of Pacific believes the amendment will support its efforts to raise financing for the operations, however, there is no assurance that the company will raise any working capital. Obviously, in the meantime PCFG may rely only on speculative press announcements to hold its deceptive market position.