Pacific Gold Corp.-Corporate Update
Thursday 17 May 2012
Pacific Gold Corp. (OTCQB:PCFG)(PINKSHEETS:PCFG).
The Company's subsidiary Nevada Rae Gold, Inc. has hired a new Operations Manager to manage the daily operations at the Black Rock Canyon Mine. The new manager began work at the mine on May 8th. The Operations Manager has been employed by the Company since 2011, responsible for permitting and environmental requirements at the mine, and will now add the Operations Manager role to his duties.
The new Operations Manager has begun implementing recommendations from the previously announced engineering consulting firm on improving the mine plant water flow to provide more clean water to the plant equipment. The Company anticipates that these recommendations will improve operating hours of the plant and increase plant efficiency and gold recovery.
Additionally, the Company announced that it has raised $720,000 in convertible promissory notes. Details of the financing are available in the Company's 8-K filing. The previously announced $500,000 convertible note, from the December 2, 2011 8-K filing, has been fully converted by the note holder into common shares.
To find out more about Pacific Gold Corp. (OTCQB:PCFG), visit the Company's website at www.pacificgoldcorp.com.
