Continental Resources Group (CRGC) and its potential
Continental Resources Group (CRGC) Inc. is a company having potential of future outcome of natural resources. CRGC is a name of long patient and wait to the investor’s community. The company has been in the exploration stage since its formation and has not yet realized any revenue from its planned operation. I recall that it was an initiative of by the owner of CRGC to engage the company in acquisition, exploration and development of natural resources properties containing uranium mineralization in the United States since June 28, 2011 by its own name (formerly American Energy Fields). By nature of business the company has been in the ways to progress steps by steps to reach its ultimate goal. According to SEC filling 10-Q by the company, “Our target properties are those that have been the subject of historical exploration. The Company had acquired State Leases and federal unpatented mining claims in the states of Arizona and California for the purpose of exploration and potential development of uranium”. Albeit the company is yet to generate any revenue till date, it has made investment a large amount to carry ahead the process of output as well as recover financial health. Till date the status of the company is as defined in ASC 915 is “Development Stage Entities”. Like other companies involved in mining activities, CRGC needs to make huge investment for the initial consecutive years, say 3 to 4 years, and is likely to give return finally unless anything happen unfortunate. As its mining project was started in 2011, the company is likely to generate revenue next year. As the company is dealing with uranium, an expected level uranium mineralization from drill holes may bring good result. However, unexpected level uranium realization may not give worthy value of investment. Although the company started with a rational measurement of natural resources from the fields, it needs to be proven by actual output.