If I'm not mistaken, pierce was CEO of nord in 2003 when the stock was under $1, he then agreed to be acquired by Allied Gold on a 1:1 share basis. Each nord shareholder received 1 share of allied for 1 share of nord; allied now trades at $30+
The clock is set and ticking. My buying more or selling depends on fiscal 2011 results.
I noticed that the two mines constructed for Nord Pacific during Dr. Carson's watch are owned by Allied Gold.
One mine is operating and the other is being reworked.
The operating mine made Allied Gold profitable last quarter.
The Summit, Ortiz, and Consolidated mines will be profitable, based on that information.I can't say what that means for pps, just the mines will make money.
If this is true, do you think Dr. Carson is trying to do the same with SFEG. If this is true, would this explain SFEG's, what seems like or could be, a lack of urgency to appreciate the PPS. Maybe, Dr. Carson is trying to keep the stock price down so it would be attractive to a larger company. You asked how could a CEO keep the PPS down? "Maybe, not advertise success and results of resources as they occur." I don't know if Dr. Carson is doing that, but I look at Yahoo Financial and wonder why there is no chart or institutions listed--maybe someone doesn't care. I know 8% of the stock is institution, but seems like their institutional names would be listed on Yahoo financial.
Time will tell on this stock, period! No crystal ball is going to predict Dr. Carson or SFEG. I still give SFEG a hold but a strong buy.
The 10Q related quite accurately the past quarter... BUT THE FORWARD LOOKING STATEMENTS ....STUNK. written by a geologist, not an aggressive CEO, interested in the majority of the owners interest... i.e. pps.
I get the feeling that this is merely a game for his geologist interest.
Allied gold at $30 you say? Closer to 30 cents.
as bad a allied is sfeg is a worse performing stock.
Carson sucks. Attend the next stockholder meeting and ask for his resignation. He couldn't manage a convenience store.
I did more research. It was Allied Gold. Dr. Carson was CEO of NORD PACIFIC, then Nord Pacific and Allied Gold, then Nord Pacific and Nord Resources.Nord Resources screwed Dr. Carson out of his retirement benefits, by giving him 250000 shares of worthless stock.
I can't find what the PPS was for those companies between 1988 and 2003.