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Wednesday, February 23, 2011 10:41:57 PM
However, they purposely removed the tonnage of gold bearing material from June and Sept 2010 reports. Also no info about gold content and grade. Thus the market value of inventory cannot be estimated. This is my point. They must disclose these data for investors. Otherwise, they don't worth a dime.
In resources mining industry, the quantity in reserve is the utmost important piece of information that can drive the pps upward. For oil exploration company, people wants to know the number of barrel of oil found in the ground. In gold mining industry, people want to know the tonnage of pure gold found in the ground.
In PRMO's case, they are reluctant to disclose the pure gold tonnage in inventory, the shareholders cannot benefit from it.
The pps will stay at triple zero. My question is, how do we shareholders benefit from the inventory?
If management decides to sell the entire inventory in one selling order, results in huge dividend. The preferred share holders will benefit the most. They will take a big chunk of the profit, since they have first priority in taking the profit.
All IMO.
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