I'm split on FFGO/HGLC.
Also I just consider them one in the same for practical purposes. I've dug deep and everything loops back to St.James the usual suspects.
HGLC is no mining company but they do hold a very nice piece of property that is continuous with property owned by Novagold (NV)& American Bonanza Gold (BZA) in a JV. NV and BZA have recovered some very nice samplings on their property which is the old pit mine Copperstone. NV/BZA will be doing underground a first at this historic gold producing property w/c is in Arizona. Always a plus not having to deal with someplace outside of N. America.
Anyway NV/BZA JV have been actively seeking more properties in the area. One of the most logical acquisitions would be the "South Copperstone" property next door. Also HGLC/FFGO recently sold a couple of other mines in Arizona to a couple of legitimate mining/exp cos.
Hglc/FFGO is a joke as far as a company, but they do actually appear to have a couple of valuable properties, and they appear to actually own them.
The players are scammers. Somehow, probably shear luck; they fell into a couple of good properties. My guess is if NV/BZA had never unearthed the jackpot on their property Hglc/ffgo wouldn't have had a clue what they had. They sold a couple of their properties last year well below market value.
If FFGO can make the shorts cover big and hard, that may be their most profitable business dealing. The TA confirmed via phone conversation that they are in the process of buying back a lot of shares. It was an informal inquiry, but they are doing something and it would make since. The cover will make them some big $$$.
The dividend "could" be real. As strange as it may seem. This is how they are going to pay themselves. The scam is there is no business just a shell liquidating some assets in a manner that the owners can walk with some cash.
Try to forget all the BS and think that they have a very valuable piece of property, and a handful of noteworthy prospects. They are all on the market, and actually listed with mineral resource property brokerages.
This could play-out a million ways, and it is such a scam. Except for those damn mining properties that are right here in the US, not some jungle in Africa, are in demand and geologically look very nice, and could fetch the advertised 500 million dollars.
Would love to hear some insightful feedback as to what other's think the end game will be with FFGO/HGLC. I'm intrigued because this scam actually does have some valuable assets.
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