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i had a ling post regarding their history few months back. it basically seems like they were entrepreneurs looking for a company/idea to make it big. they end up getting into mining, and they have been pumping all their profits from spinoffs and reverse mergers into PCFG.
hi all, haven't posted in a while but.
what happened to the stockpiled ore?
just to clarify - shared shorted doesn't necessary mean its naked short selling. so they arent necessary "fake" shares. also, even if it's naked shorted, it is most likely will get delivered. the naked short selling abuse may be there, but i don't think we can jump to the conclusion that FINRA short numbers = naked shorts
PCFG PPS is low because they havn't really delivered the promised goods. i doubt naked short sellers would bother with such low volume stock. even 1 million shares ~8000 at this price. why risk it all for so little.
yea but the discount price isn't what pays the balance.
correct me if im wrong, but the way promissory notes works:
you offer the person "hey we promise to give you $100 worth of stocks, but we can give it to you for $65 in the future, or we pay you back with 10% interest for $110". lender: "sure!"
if paid back in full $100+$10 interest: no conversion
if not paid back at all $100 worth of stocks will be given at $65.
current share price: 0.0082
for $720000:
~88million shares... i dont know where you got 180 million...
the need for parts inventory system is probably evidence of the equipment getting jammed up frequently by coarse gravel/feed. they need frequent parts management/repairs.
the reason the original dewatering plant/machine failed was for the same reason. this time it appears that they are being cautious or making sure things dont get clogged up on the concentrators.
the purchase of twin screws and their concern for clean water is basically because of the aforementioned reasons. clean water will reduce start/stop times and need for less of these "parts inventory". i felt like they werent getting clean water from those geotextile tubes when i saw the videos in march/april.
our hope is that its improving or has improved since the 10q.
i think the problem is with getting cleaner water with geotextile tubes more that water permits or regulation issues. engineering issue more
they can pay it back. effectively "buying back" shares. pilot mountain payment alone is at least 1 million (minus platoro portion)
i believe you are talking about pacific metals, which i believe geisler is trying to spin off to raise capital for pcfg.
pilot mountain project is undergoing drilling by blackfire minerals to see if they want to buy it off of pcfg for $2million or do a joint venture for $1 mil. option deadline is sept 2013, but it can be earlier
three words: pilot mountain project
it can singlehandedly cover these payments at current pps
So ZDG is holdings company it seems, owned by Landau and his wife Marni Miller. When everything started, they were in their 20s. It was more of a paper company it seems to fund these operations. They seem to have a lot of connections up there in Toronto, all the original investors of the companies they've greated now are running other firms.
The key role they played was holding on to the GL Gold subsidiary (with mining permits in Oregon) before Geisler's other company that initially started out as restaurant financer decided to name itself Pacific Gold after "buying" it from ZDG.
I can't seem to find much on Platoro, but the very FIRST time Geisler worked with Platoro, the deal didn't go through back in 2003ish for the Tungsten mine. They decided to give up the right because Geisler decided GOLDis GL Energy & Exploration's main focus. Second time is what we have with Project W.
It makes no sense that they would capture all these claims if they were out of money. On paper PCFG is out of money, but all arrows point to the fact (including the fact that Diagnostic Imaging International is a profitting, reporting company) that Geisler/Landau are well connected two who are almost doing this "on the side" for the future gold income.
thanks. once i started researching i started worrying about them ditching because of so many companies that they created for seemingly no reason. but the deals and subsidiary creations and holding companies basically existed to create the current mining claims and operations. its pretty impressive.
hm i mean it does seem to appear like a death spiral financing but based on my research, geisler has built this company from nothing (lrs capital/blue fish entertainment/geex) to pacific gold with 9million in just equipment assets alone.
he doesnt have the mining credentials, only dabbled in trying to make a restaurant business, but the truth is, he built this on his own. he had to create a few shell companies on the way but that was to save these gold properties from being forked over during the reverse mergers.
he works with the right people to finance this operation. the loan interests arent really interests. pacific metal might be another shell company that geisler will reverse merge with some foreign company, but whatever money he raises from that goes into operations at Nevada Rae.
Succinct Summary of Pacific Gold Corp: from 1996 and on. Just to prove to you guys that Geisler is a businessman who, from young age, tried to make a company work and stumbled onto this Gold/Tungsten business and seems like he's a man on a mission on trying to achieve that goal. I tracked down all the filings from 1996 and the companies. I learned a lot through this DD, and I realize these guys aren't gonna just give up. GO PCFG
Plus, it seems like he has a lot of rich friends giving him financial support despite the fact that it seems like PCFG as a company is in a lot of debt/trouble. I apologize for the formatting but I am getting tired. All these are Google-searchable.
Basically, the big lightbulb moment to Geisler was mid-2003, when GL Energy & Exploration was entering a joint venture with that Chilean company. He had an "Ah HA" moment here and decided to form a subsidiary of GL Gold - which ends up being the basis of the current Pacific Gold Corp, while GEEX went belly-up with the other companies through reverse mergers or whatnot.
Also, not included is Geisler's medical radiology company? This is their latest filing. http://www.diig.biz/report/10q033112.pdf. I feel like this is part of what funds PCFG.
I didn't go past 2005 since stuff from 2005 is all on their website.
Oct 1998 – 2000 LRS Capital Inc
• October, 1998 – LRS Capital Incorporated
• OTCBB
• Goal: Exploration/Development of Tungsten mine: US Army new bullet with tungsten, more environmentally friendly than lead.
• TARGET: US army bullets, construction, mining, other stuff
• 8,000,000 shares @ $0.125 = raise $1,000,000
• Total ~10,000,000 shares issued initially
• Ends June 30, 2000 with $6,972 expenses, working capital $3,735
• Funded using sales of common stock
• Employees, all without cash salary (stock compensation)
o Mitchell Geisler (29 yo President/Chairman)
o Cindy Roach (37yo)
o Kevin Wagman (28yo Director)
• Stockholders after IPO
o Marni Miller (11%) – Wife of Rob Landau, includes shares through ZDG Investments (Marni Miller owned company) Currently, she’s a practicing lawyer www.ztgh.com/our-lawyers/item/24-marni-miller
o Mitchell Geisler (1%)
• LRS contracts with Wolfranium Corp to locate, stake, record mining claims (May 1999), finds Platoro for this contract.
• Agreement LRS pays
o Initial $13,000 and $75,000 over next five years
o $260 per claim staked
o 120,000 total common stock of LRS to Wolfranium until 2004
• Loyalty: 2% of proceeds from sales of ore
• Somewhere along the line, Rob Landau is the president of LRS instead of Geisler around 2000, I am guessing with IPO, this title was transferred to Landau.
• Creates a subsidiary called GL Tungsten Inc
• Platoro West gets 60,000 shares of GL Tungsten
• Share count: 55,000,000
• President/CEO: Mitchell Geisler
• Some of the funding: from ZDG $58,799, Glen Akselrod: $8,462 – both loans bear 10% interest
• Goal: to acquire a permitted gold mine and equipment.
• First claim: In Oregon (Oregon Gold?) for $10,000 deposit, $590,000 mining claims, $150,000 for equipment
• GL Energy & Exploration goal changes from Tungsten to Gold
• Wellstar International’s 60% interest in two mineral claims in Chile (LaBarca Deposit and Duna Coapa Norte Deposit) and Joint Venture Agreement between SEM Mining Corporation (40% interest in JVA). But these have no historical mineralization.
• Oblications of Joint venture agreement: raise capital for the Pilot Plant for the claims (total $10,000,000 before January 22, 2004)
• JVA included change of control: Donald Byers/Arthur Lang would get 20,000,000 shares of GL Energy, now controls GEEX, but remember, GL Gold Inc is now owned by Geisler, and he is trying to get rid of GEEX to fund GL Gold Inc.
• At the same time, Oregon Gold was being held by ZDG holdings for the time being – to protect the property.
• Pending $3,000,000 loan from venture capital firm (I’d guess Cornell?), but Letter of Intent finalization terminated by the Company (GL Energy) for the Pilot Plant for the Duna Chaopa Norte and La Barca
• Cornell Capital Partners LP signs a Term Sheet to commit to fund up to $11,000,000 for GL Energy over the course of 24 months, in amounts of maximum $1,000,000 every 30 days.
• Basically struggling to find funding?
• Donald Byers and Arthur Lang has control of this company…. Moving on…
• Geisler stepped off with his GL Gold Inc, which was renamed to Oregon Gold Inc.
• 8/2006: GL Energy & Exploration (GEEX) name change to American Southwest Music Distribution Inc (ASWD): 1-for-74 reverse split of the common stock as well. Basically the stock craps out.
• Demand Financial International, Ltd., intends to develop a caviar lounge, restaurant and piano bar business situated high a-top famous skylines in North America. Demand Financial is a company in the development stage. Demand Financial was incorporated in the State of Nevada on December 31, 1996. From incorporation until December 31, 2000, Demand Financial had no business operations of any kind.
• Geisler looking for a good site to open his first restaurant! “
• Geisler thought the latter name fit better for what he’s trying to do.
• “The goal of our establishments will be the creation of a mood and atmosphere that lends itself to an exclusive environment in which our guests may conduct business meetings or simply relax. Our overall design calls for the setting to be upscale with high quality products and exemplary service. We are currently searching for a location in the Toronto, Canada area for our initial flagship restaurant. If we are successful with this initial operation, we will seek to expand into other major cities.”
• Now has 2 claims Oregon Gold & Nevada Rae Gold
• Nevada Rae Gold – 38 placer mining claims, 760 acres. $250,000 financing
• Plan of Operations submitted to Bureau of Land Management
• 46 placers by now, 920 acres of land covered
• Company purchases 13.67 acres of private land
• Mill, processing plant, storage, security headquarters, remote office
• Two water wells for this project
• Company owes $454,495 to a stockholder. One note for $100,000 which relates to the purchase of 100% of Oregon Gold Inc. (so PCFG owes $100,000 to ZDG, Landau’s company)
• John Rae, Director of Alluvial Operations hired.
• Fernley Gold subsidiary: purchases 640acre claims for $10,000, one time payment lease for 5 years, renewable
• Grands Pass Gold subsidiary: purchases Defiance Mine, equipment, fully permitted mine in Oregon for $150,000 + $100,000 (I think). Smelter royalty of 5%, capped at $200,000
• Pacific Gold had negative working capital of $1,348,017 at June 30, 2004
• Files with SEC to sell 8,000,000 shares for $0.30
Consultants: John Rae and Chemrox Technologies for the permitting process.
• Delivery of heavy earth moving equipment
• Security perimeter fence installation
• Mill building purchase
• JCI triple deck screen purchase
• Building Permit Preparation
• Works with Platoro West, agrees to give them 150,000 shares for Project W in Mineral County, Nevada
• For Nevada Rae: Assembly of the screen plant was well underway and equipment deliveries continued throughout the quarter.
• CFO hired: Jacquelyn Glazer
im surprised pps is not taking a hit. i say we end up in the greens today lol
crossing my fingers for 200-300oz!
i think the main issue is that NEOM wants barcode industry to EXPLODE before starting patent infringement cases.
it's barely crawling now... if they start the infringement things now, they kill their own industry.
NEOM is in a iffy situation... barring takeover.
i got an idea. everyone download the neoreader, use the crap out of it, scan everything u see.
it'll allow neomedia to PR with better QR usage numbers.
not to be a downer but wouldn't the 10K just push this thing lower?
key note: its recognized as revenue only if its officially "sold".
Revenue Recognition
Pacific Gold recognizes revenue from the sale of gold when persuasive evidence of an arrangement exists, services have been rendered, the sales price is fixed or determinable, and collection is reasonably assured, which is determined when it places a sale order of gold from its inventory on hand with the refinery.
PCFG is keeping most of it as "inventory"
Inventories.
Inventories are stated at the lower of average cost or net realizable value. Costs included are limited to those directly related to mining. There was inventory as of December 31, 2011 of $288,982 consisting of metals inventory and stockpile ore.
woops realized i was reading 2010 section info.
that's 2010 numbers btw.
sleepless tonight! best luck to u all tomorrow
im somewhat concerned to be honest. i have been in pcfg since 2007/2008 and rode through the waves. I remember the ORGG dividend and i realize it was PCFG's desperation efforts time to pay off the Yorkville debt.
I mean i really hope PCFG is doing this Pacific Metals with future in mind, because to me it just seems like they are unloading properties one by one? But then again, I wouldn't mind them having two gold mines: Black Rock / Fernley representing the entire company, since placer mining is their main business.
Hoping for the best this week though. Crossed fingers.
i... cannot... wait...
increased my position by 130% since last time i posted. PCFG you better be getting 200-300oz+ last three months!
is this in thinkorswim or something else
someone help me with a n00b question. how do i see level II with TD ameritrade. i cant seem to see it with pcfg, but with other symbols i can.
1) OCT-NOV: 4TH QUARTER INFO: They don't need to tell us how much gold they produced btwn Oct 1-November 14th: that's 4th quarter information. I believe they released that info to assure investors that they did indeed start 4th Q production that's already matched entire 3Q production.
2) EXPLANATION OF LOW YIELD: I am bummed that the rates are low: ~0.13g/yard. I thought the stockpile "mudflow" gravels were gone but I can't help but to hopefully think that they processed mostly the mudflow. Based on their two production PRs:
3rd Quarter:
July-August: Mined: 0 yds, Screened: 6,500yd (30oz gold)
August-Sept: Mined: 12,000yds, Screened: 5,500yds (20oz gold)
TOTAL 3Q: July-Sept: Mined: 12,000yds Screened: 12,000yds (50oz gold)
4th Quarter:
October-November 14th: Mined: 12,750yds, Screened: 8,000 (?? gold)
*TOTAL 4Q October-December: Mined: ~37,000yds, Screened: 24,000+ (minimum 80oz to 320oz)
* - Projection, given that they are telling the truth and most of October was spent fixing stuff, so real processing rate was 8000yards/about 3wks (1 week in Oct-Nov 14th), that rate for 6 more weeks remaining in 4th Q.
3) PROCESSING SPEED The fact that I believe they did ramp up production from 43yd/hr (assuming 8 hr days 350yd/day) to 80yd/hr is a good sign. Based on the fact that they processed 8000 yards in October-November with those "many days in October" for fixing things (I assume 3 out of the 4 weeks), I can assume they hit that 100yd/hr speed sometime this month.
4) MY (REALISTIC) PROJECTIONS Hoping for a 0.3g/yard rate, and if PCFG can really process anything close to 20000yards/month in December (based on November rates, it's very realistic number), we're back in business with 200oz of gold. It kinda sucks to have to wait so long for another 10Q, but yea, we're headed in the right direction.
5) MITCH/LANDAU Yea they screwed up not telling us some of these pieces of news, but it does seem like one thing piled on another. NDEP, truck accident, failed pump. Suffering builds character. I am sure they were hoping it was just one of those3 'bump on the road' and hoped to continue working after one thing got resolved, but another event occurred. And then another.
At that point they were probably at a loss as to what to do, and decided to make a decision to just wait until 10Q. I think they are struggling for their lives to get this mine working, it's their personal investment, maybe their lifelong savings. They want this stock to soar too.
6) LAST WORDS January 3rd will mark 1 year since they ordered new equipment for this monster of a project. They basically went from bare land -> production in less than a year. 3 part-timers to 20+ employees. I really got nothing more to say. Let's GO PCFG.
haha maybe mitch wants those shares buybacks at low price and delayed filing :P
haha is it possible that this is a rough estimate of how much they are producing?
for example:
they need to produce around 150-170ozes to break even with $270,000 operating costs. Let's say PCFG already hit this goal (why else would they consider buyback when there's no spare cash).
5,000,000 shares * $0.038 (current share price) = $190,000
$190,000 / ($1650/oz) = 115oz worth 'extra' gold
So ROUGHLY maybe they are expecting 275-300 oz gold sometime soon? just an opinion.
haha i have 4 shares... woohoo? good to know who are TRUE longs ;)
As most ppl know - PCFG chart now entering reversal in terms of charting, and there seems to be more buying pressure.
I have no idea who these guys are but: they mention PCFG: http://www.emailwire.com/release/70124-These-Stocks-Could-Bounce-CRWV-AAGC-PCFG-GRNE-HFBG.html
I'm sure they are charting traders. Americanbulls gave PCFG a buy signal on the 13th. I sure more good news are up ahead and let's all meet at 0.10 in a few months (or weeks even).
doesnt't the settlement cover only 1/3 of the claims? so it should be
500,000 - (1/3)*(0.15)*500,000 = $475,000
woohoo with Pilot Mountain. let's destroy these shorts ;) reverse this stagnancy! i need money for my ring.
I am crossing my fingers for Fernley permit news too. That's where majority of PCFG gold is...
btw my exam was brutal - imagining sitting for a 9hr exam (including 1hr break total). hope everyone is doing well. good to see you all still sticking around.
One thing curious about all this is that I can't ignore the fact that Barrick Gold's Cortez mine is literally down the street. I know people have mentioned this mine already in the past.
What I realize is that there's a remote possibility that if PCFG get's it going at anything near Cortez mines per/ounce rate in terms of operations (it was super-efficient $312/oz operating costs for 2010... mining 1.1 million ozs for 2010.... lol)
PCFG if it really aims to mine 6000 oz gold next year at roughly 300-400k a month, getting them to maybe $800/oz operating costs, it may look very tempting for Barrick guys to just drive over (8 miles/8 minute drive) few equipments to mine the crap out of BRCM as much as permit allows. I realize Barrick is a open pit-mine but doesn't hurt to add a few ounces for cheap? Permitted operation surely beats expansion + waiting for permits for newly acquisitioned land.
But I realize Barrick won't even think about that without a proven NI 43-101 / resolution of current PCFG debt. Hope PCFG gets a new updated one soon. I realize it's a far-fetched wishful thinking, but at least I have the dreams and aspirations unlike some of the guys here ;). GLTA
Also I have a 9hr exam I've not really been studying for tomorrow so wish me luck.
PCFG is slowly breaking even, will profit by Q3. All this day-to-day talk about PPS is nonsense for longs. If you want to daytrade... go ahead. Sell tomorrow because it'll dip a bit vs. horizontal based on technicals. The dip last week was caused by technicals / MMs / weak hands. Look at the charts and you'll understand what happened. No sign of breakout for a while (at least for ~1 wk), so don't hold your breath. Unless a crazy news comes out.
News to wait for are:
1) The request for NDEP permit to expand the NRG facility with more geotextiles / hopefully another Hy-G concentrator / Knelson. Have a feeling this will happen pretty soon.
2) Permit application on Fernley.
3) Pilot Mountain news is good but - I realize PCFG will get paid when the mining process begins. Have no idea when that'll happen.
4) It's end of August. Hope they are at 750yd/day already. Hope they are getting ~10oz/day by now. $20,000 a day at this gold price.
5) New 43-101 with the entire B&B/Pipeline440/whatever else they got.
Correct me if I am wrong, but these are my understanding of the updates. I am amazed at how frequently new PRs come out so hope they keep surprising me. August BCRM production update would be nice. Hope it helps. LETS GO PCFG.
if uplisting takes a reverse split, i'm up for it.
this is almost identical to my calculations. gj. GO PCFG.
im happy here! still up 100% and this drop by whoever MM/shorts will be get PCFG good publicity. we're definitely finishing around .65+ today. up and up next few months
from what i figure... it's been a wacky day of people trying to analyze everything. I know that last line of 10Q is concerning to some - but it's really been on every 10Q prior to this one. Also, WORST CASE SCENARIO ANALYSIS:
1) The August 10 promissory note for $219,000, plus the CEO's private stash will can buy them time + continued production for at least one month. Until they can find more capital to work with.
2) August - will get them conservative estimate based on (750yd/day they gave * 20 days) 15000yds * 0.35g/yd * 1oz/28g * $1700 / oz = $318,750
3) Monthly operation = $270,000 estimated (or less).
4) September - their target is 1000yds/day. 20000*0.35/28*1700 = $425,000.
5) From this point on I don't think i even need to talk. PCFG can sustain itself within the next three months.
GO PCFGGGGGG I SHOULD BE STUDYING FOR MY EXAM BUT IM DOING THIS AT 3AM!!!!! Have a great day everyone!