The gold certificates were offer under the old symbol of AOAG, but IMO due to the world banking conditions/global finical meltdown at the time of offering AOAG was unsuccessful in raising 500 million in sell of the certificates for gold mining operations. In the proposal AOAG was offering 1,000,000 ounces of gold at 500 per ounce around 6 months ago. I think the price of gold was about 950 per ounce at the time of offering. So basically the gold certificates would be sold for 500 dollars per ounce and when gold was extracted the holder of the certificate would be able to cash it in for a nice profit.
And now on 9 Nov 09 the company released this statement.
Institutional level bankers and investors have recently asked the company to re-submit the financing offerings with a view to their clients securing future gold bullion deliveries at a significant discount, from the JV's proposed slate of large-scale environmentally sound alluvial gold mines in North and South America.
IF PGCR is able to secure funding from the above bankers/investors IMO this stock will move fast.
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