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Every so often this stock drops to absurd levels, then, so far, it goes up to normal levels and I cash in. One to keep on your radar.
I've made a bunch of money off CDE over the years and expect to again. The stock is down because silver is down, silver cannot be produced at these prices so it will go back up when demand hits, then the stock will go up, I will sell and wait for the next time.
D means it either reverse split or reorganized. Expect it to be there for 20 days or so...........
If I were to take a guess, the boys have discovered that they can get gold profits from this mine, or they can sell it for a bunch, and they don't want to share with the stockholders. So common stock is going to be reverse split into nothing while their preferred shares gather value. Expect more reverse splits in the future until they can buy out the stockholders for a couple bucks and then go private. Then something will happen.
All this millions being bought and sold is just to keep the price down while they dilute the value with massive amounts of stock.
Hmmm. I don't know what's with it, sure not buying any myself, but on Ameritrade it had - bid and - ask this morning, (no bid, no buy, no nothing.)
You guys do know that this stock has stopped trading?
The people still working there are just pulling out the copper wiring to sell for scrap. It's so bad that Detroit sends food aid to them.
In the case of this stock money can be made, not by it's merits, but through dumb luck. Every so often, and without much reason it jumps up. Then you can sell or you can wish you had some to sell.
Something like this:
PCFG
Ask: .05
Bid: .0000000001
Volume: -0-
News: There is no current news for PCFG.
This is an excellent example of how runaway inflation works. 3 billion shares to 10 billion shares with splits reducing value in between, someday maybe a trillion shares, who knows? If PCFG shares came on paper the paper would be worth more than the shares.
Investing in this would be like investing in the German Mark during the Weimar Republic where a wheelbarrow of paper money would not buy a loaf of bread.
The two boys are desperate now, debt and the mine look out of control, it looks like it's going to be ugly when it crashes.
I know in Idaho mining claims are taxed by the state, and if you don't pay they can be auctioned off on the courthouse steps. Nevada not so sure. But the mineral rights and water rights don't come with property down there in most of Nevada.
Just wondering if they are paying their property taxes to Elko County assessors roll but can't find them under Pacific Gold. Newmont and all the other miners are there.
Down and down it goes, where it stops nobody knows. I certainly hope nobody is putting any money into this thing. The mining process doesn't work, they're broke, the owners are dumping shares by the multi-millions just trying to pay the electricty for the "closed" sign light bulb.
After the R/S that works out to what--$1.40? Oh sure I can see THAT happening!
Due to the new par values, this stock has no bottom, it's just a money pit.
Speaking of pits, Mark Twain once said that "A gold mine is a hole in the ground owned by a liar."
That's what I said then. That's because I've seen their operations in person.
Yes that is correct. Using cyanide is common pratice, it's much weaker that what you might be thinking of and cynanide dissovles gold,and dissolved gold can be recovered.
Just google "barrick gold cyanide".
Barrick has hard rock mines in Nevada but the one up the road and most in Northern Nevada are "gravel" mines. They tend to chemically extract the gold in big vats and what they miss goes into a leach field where cyanide is sprayed on it to get every last bit.
Black rock uses water to "placer" extract the gold by gravity. Cheaper process but less gold.
This stock reminds me of a bungee jumper falling off a bridge, except the jumper forgot to attach the bungee cord to himself. It's time to call 911.
I haven't done the math yet, but if I have it right, they did a reverse split of 1-20 so they reduced the number of shares held by 95%, but they reduced the total number of shares from 5 to 3 billion, or 40% so basicly they have a whole bunch more shares (55% more)that they can now dump/sell?
I'm inclined to think that management knew it might get this low or lower, hence getting rid of the par value.
This can easily go to .0004, there is no reason why it can't. Or .0003 or even .0002
You can't buy with Scottrade either? Great.
Most likely the Chill on TDAmeritrade.
If they can get the price up to .06 with a split, has to be over a nickle. No hurry though, it would have to be sometime in early 2013. The middle of winter is no time to be pouring concrete
I'd think they would have to reverse split it up to .05 at least or it's a joke price, They have to get the price up before they split. That could be done with good pr's and such.
Yes the TD chill is still there and will be for a long time. Getting financing will a chill on your company is neigh on to impossible.
It takes a major underwriter to remove a chill.
Because they're two of them and they need a million each? I can't make any sense of it either.
The price sure is cheap, but to me personally, with a R/S looming, no financing, and nothing in sight, right now it still looks like a money pit or a black hole that people shovel money into. This is awful. They could R/S it back into double zeros and it could then drop right back into triples.
No new financing at these levels, even if they did a 20/1 R/S the price would be what? 0.020, wouldn't help at all.
Barrick and the other big guys are mining the same micron sized gold and doing well using cyanide (It's safe enough). The guys at Black Rock seem to think they can extract the gold with gravity bowls like a placer (water) mine would. I can't call them dumb because I own some of their stock, :(, but maybe that's not a very good idea after all. A micron sized peice of gold needs a hell of a lot of gravity to extract it! And if the peice of ore is holding it then it goes back into the fill. You don't have that problem with cyanide. For Black Rock to get all the gold they would have to pound the ore into something as fine as talcum powder. That might be the whole problem, and if it is then all the geotubes in the world ain't gonna fix it! They would need to start all over, I don't even want to think about it.
The gold there is microscopic, measured in microns, can't even see it. No nuggets, no flakes. Placer is great for nuggets.
The big guys use cyanide leaching, they don't waste their time with the nature-friendly-placer-water-spin stuff (which it seems isn't working well at all). If Barrick wanted that gold I'd think they'd just send some huge trucks and haul it off a few miles to a real processing plant.
It doesn't matter. There is nobody running against them and they make the rules and pay themselves whatever they want.
Do they even have to show up in real life? They have the majority and get everything they want. Maybe it'll just be a line with a box you put your ballot into, you go in, you go out.
They shut the mine down last month because they are all idiots, in a nutshell. Oh, and they want to go 2 million more in borrowed debt.
So whatever happened to the Stock buyback they were touting? Wouldn't make much sense if they now want to reduce share count instead. I have a hard time trusting these people to follow through.
It's kinda hard to have a shareholders meeting and announce the all new PCFG 2.0 when folks at Ameritrade can't even buy any. I think that was unexpected and they'll have to clear that up first before having a meeting,(if they can).