I've been investing in stocks for over 20 years. I have seen this action before. This is my take:
Hedge funds/Wall Street guys (aka white show boys) set this baby up for a good drop. When I saw Jack Marshall and UncleTiz and the rest coming onto this board with all their negativity, I thought something was up. Uncletiz was pretty transparent; Jack Marshall was not so transparent until he said that there would be only 2g/ton. But when Strathcoma resigned because there was "no gold", all my suspicions were confirmed. Clearly there is gold; clearly there is more than 2g/ton.
The white show boys likely greased the palm of JM and the top management at Strathcoma. Didn't someone say that one of their leaders just resigned? Wouldn't surprise me if they were looking for property in Maui now. Uncletiz was probably only getting paid by the post. The large purchases yesterday were the insiders to the scam covering their shorts at the tax loss sellers/weak hands expense.
One time I saw Wall Street get the former CEO to go into competition with a company that had a very promising patented product line in the health care field. The former CEO was not qualified to take the company to the next level, so the board replaced him. He got back at them though. There was no non-compete agreement. He started a competitive company, but it was only on paper. They had a webste, which looked they were the real thing. Problem was they could never compete because of the patents. The weak share holders didn't realize all this and bailed. Stock went from 25 to 3. Now it is in the 40s; they've sold billions. The take down made the former CEO more rich; so too for the white show boys.
This is how the game is played. PVG has lots of gold in them there hills. Todays press release makes that pretty clear. Name one other company who has such concentrated gold levels over such lengths? Remember JPM is reported to have a corner on gold at the COMEX on the long side.
Good point, this manufactured drop occurred because they added unnecessarily another QP which they did not need in the first place. So these white shoe folk used Strathacon to discredit the program wilst they shorted the stock at $10-9-8-7. It was simple to pay off Stratacon. I guess they made at least $25M on this short attack. Gold weakness since late August also helped, once gold fell again under $1300 it was like taking candy from a baby.
Okay ... you're getting picky. Here's what they said:
Strathcona withdrew from the Program on October 8, 2013 before any results from the processing of the bulk sample were available. In withdrawing from the Program, Strathcona advised Pretivm that "…there are no valid gold mineral resources for the VOK Zone, and without mineral resources there can be no mineral reserves, and without mineral reserves there can be no basis for a Feasibility Study."
"no valid gold mineral resources for the VOK Zone" The Valley of the Kings has been PVG's most touted deposit. If there's no valid gold resources there, there's basically "no gold".