Prom Resources Inc (PRMO)

[DC168]

PRMO is a junior exploration and mining company. It focused on gold since 2006 and acquisition of mining right and perimeters in 2007. It has gone through preliminary business planning, and development stage. It was a difficult task, especially in third world country, which has different business law and practice as compared to western world. I give credit to the management that they are able to bring it to production stage.

There has been 2 promotions, summer of 2007 and second half of 2008. Raised fund through selling shares. It seems both failed miserably. They went into hibernation in 2009 and 2010. They quietly working on mine operation, purchasing from villagers and inventorying.

The current business plan is full production and marketing, to take advantage of the record high gold index. Things are on the right track.

However, they are hiding the vital information from investors. Thus the market value cannot be estimated. Hopefully, they are working for the shareholder's interest. If shareholders are happy, management should be more happy. IMO.