Business Overview
PC Gold is a junior gold exploration and development company focused on resource expansion and development of its 100%-owned Pickle Crow gold mine property in northwestern Ontario. The Pickle Crow area is a well known mining camp and has been known historically to host some of the highest-grade gold veins within the major gold districts in Canada. The company follows the strategy of searching for new gold deposits near old mines and believes there is considerable gold left in place within or close to the Pickle Crow mine. PC Gold has good backers and major shareholders include Premier Gold, Sun Valley Gold, RBC, BMO, Front Street and Sprott Asset Management. The company is led by its CEO, Mr. Kevin Keough, who has over 25 years of experience in the mining industry. + More info
What is interesting?
Very focused- The company has 100% ownership of a single but high potential asset, Pickle Crow gold mine.
Company’s project is in Ontario, Canada, a safe and stable mining jurisdiction with very low geo-political risks.
Year round access to excellent infrastructure with an onsite office, generator and fuel storage tanks. Road and bridge work is underway to improve the accessibility further.
The company has a very active drilling program in progress. It has plans to carry drilling at the property throughout 2010 and expects to drill over 15000 meters in phase I alone.
Based on historical data, the company has a non NI 43-101 compliant resource estimate of 1.2 million ounces of gold. The company expects to expand the current estimates and obtain NI 43-101 compliant resource estimates during 2010.
PC Gold has been announcing consistently high grade drill results and expects to obtain better grades over wider width as it tests deeper depths along the exploration trend.
A well finance company, PC Gold recently raised close to $7 million in new capital raise. This will help the company to continue to actively and aggressively carry the much needed drilling program to further confirm the exploration potential.
The company has a strong and stable management team at the helm.
Risks
PC Gold is an early stage exploration company. The commercialization risks associated with gold mineral exploration and development are high and its prospects for discovering economically viable gold resources are uncertain. Gold prices can fluctuate and a decline in the gold prices could impact the share price of the company adversely. Early stage exploration companies typically needs significant amount of capital and although well financed, PC Gold may still require additional financing. This could result in shareholders’ dilution.
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