Replies to post #90024 on Pacific Gold Corp fka PCFG

[nagoya1]

I am sure you're going to tell us, coz, I don't understand what you wrote, I know that 7 years is a decade, 28 grams is 1.5 lbs, 1.6 km is 2 mile, "Pie" is 4, and POG is 2000.lol
Go PCFG

[DeeDog]

More than one of us picked up on it, some of us just can't explain it...either, but stockpiled ores doesn't mean metals (gold) necessarily. I don't understand the stockpiled metals category...gold they haven't sold yet? It's got to be more than ore.

Besides, I've stopped speculating until the Q is out and we can see what happened (or not) in black and white.

I'm going back out to work in the yard. This is too hard to watch my mining and drilling stocks falling like rocket propelled lead. I just come in occasionally to see if the Q is out, but I don't expect to see anything until after close.

FYI, I just checked again, it's not out.
Dee

[ScotiaNostra]

Maybe Rocco´s guess is as good as any ... better gravels, higher recovery on samples so the stockpile has more grains of gold than the old mud gravel stockpile .... but who knows, I certainly don´t.

and now we are back to new gravels, with professional guidance on where to mine. Know body is expecting grand results this first Q of 2012. But we are mining the eastern edges of the gultch and heading west, the grades will improve the closer we get to the base of the mountain range. During this time PCFG will improve their recovery rates and plant operations.

GFTA

[TNP]

Here is the definition from Newmont Mining Corporation (NEM)
I am assuming that this is a financial standard for reporting


This excerpt taken from the NEM 10-K filed Feb 19, 2009.
Precious Metals Inventory

Precious metals inventories include gold doré and/or gold bullion. Precious metals that result from the Company’s mining and processing activities are valued at the average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs.

[Phred6]

There is no actual number given for the amount of stockpiled ore in the third quarter. The 12,000 yards you quote comes from the following in the 10Q

From October 1st through November 14th the Company has mined and screened 12,750 and 8,000 cubic yards, respectively. The Company currently has approximately a 12,000 cubic yard stockpile of gravel to be screened for gold. The Company believes that it will be able to move operations to a more stable level during November.

The 12,000 yards is as of the date November 14th not the end of the quarter. Don't feel bad, I made the same mistake when I was doing the initial math. It was only when I started doing the actual math and the stockpile numbers weren't adding up that I noticed this. To get the numbers to work you have to work backwards from the 27,600 yards stockpile at the end of the year. By taking the mined numbers and then subtracting the processed numbers it's relatively easy to determine what the stockpiled ore was at the end of the third quarter (5,300 yards).\V/_