Prom Resources Inc (PRMO)

[DC168]

Gold was $1100 a year ago. It went up to historical high $1426 last November. It is back down to $1345 today. It is going up and down like a yoyo. Even at today's price, PRMO is making huge profit. Because the mine operating cost is relatively low, approximately 25%, according to 1st quarter report. PRMO's sluice box mining method is economic.

PRMO also purchase gold ore from villagers. The cost is unknown. I guess it is more expensive than mining. Because it is labor intensive, such as panning. IMO.

Some experts are predicting $1500 gold index by end of 2011. In this case, PRMO will be the stock everybody want. The senior mining companies will probably line up at the door and try to buy PRMO. IMO.