The company will sell if you can wait. Best to sock drawer it and read the news that PZG sold some time in the future. Not likely very soon. Good luck to all that stay with it.
If you are only going to do business with honest companies your challenge may be greater than Diogenes quest for the honest man. Are you aware that the majority owner of BK is a South American company? Why can't a SA company move BK to Canada? Apple pays about 20% in corporate taxes according to what I've read. They are avoiding the max corporate tax using legitimate means same as most mega corporations. What is the squawk with BK when every major corporation in the US is working at reducing their corporate tax? The benefit of this merger is to be determined. Long BKW
How about we fix it by reducing government spending and not requiring a 35% corporate tax bracket. Make politicians accountable for their campaign promises. Take away their benefits or at least let them pay for the same medical insurance the majority of us have. Let them get in touch with their constituents. This country is in deep trouble politically and the majority ignore it. Time to get off my soap box.
That has always been the PZG exit strategy and will likely happen when the price of gold hits the 1500-1600 range, possibly before. Depending on the price of gold, my guess is 3-5 low 5-7 high. Would love to be wrong and the shares sell much higher. When you are long PZG; you are long PZG.
Seabridge is a mining company owned by Friedberg whose president, Rudi Fronk, sat on the PZG BOD. If there is any chance of a jv mining operation, my guess is Seabridge. Still find it difficult to believe a joint venture is in the works.
After the PEA under the exploration development process comes the pre-feasibility study followed by the feasibility study. The articles being read as going into production at San Miguel read like feasibility studies to me. It's part of the marketing process as well as credibility. PZG has neither the capital resources for the 69mil start up nor the 346mil sustaining capital. Don't forget the fact that Crupi is a bean counter not a mining exec without a mining company. From a purely business stand point, I just don't see a mining operation in the PZG future.
Thanks for the link. Very interesting reading. Still have difficulty believing this is anything more than feasibility study following the PEA.
Morningstar list all the major shareholders and those both buying and selling shares. FMCI holds 24 mil shares. Van Eck #2 at 16 mil shares.
It's heartwarming to know there are so many taxpayers that have never tried to better their tax bill by taking advantage of gray areas, fudging a little on reported income, or just taking the available tax deductions. Must be true or they wouldn't be casting stones at BKW for trying to reduce their tax bill. Inversion is available to them and it is legal. The problem isn't with BK. Look to the lawmakers selling themselves as our representatives to change the law that should have changed years ago. Boycott BK if you like. Won't fix the problem.
My research on non-contributing JV's of other companies indicates very little income for the minority jv partner. Equates to a royalty position providing some cash income for the company and nothing substantial for the stockholders. Like you said, PZG is an exploration company with an exit strategy to sell the properties or company. The majority stockholder has controlling interest in a mining company and could easily provide a jv if there was interest in a jv. A jv takes the property off the market while producing nothing substantial for the shareholder. A jv without a PZG cash commitment would not be good for the stockholders, nor would a cash commitment jv be good for the stockholders. The return to the shareholders is in selling the company. Be careful what you wish for......... Don't take my word for any of this; instead, do you own dd.
JV at this time would be betting on a sharp rise in pm prices. Not likely to happen. PZG can't substantially contribute to the required start up cost of $250-300 mil in Nev. Even with some of the infrastructure in place it is not likely with low grade ore under current market conditions. silver demand not where it should be for start up. Don't remember % recovery but it seemed a little low. In my opinion only a sharp rise in pm pricing will bring suitors to PZG and by my own admission, my opinion is worth as much or little as the reader agrees or disagrees.
Your wait approach is the right move. I expected it possible SD could drop a few cents when I made the purchase. It may go farther than I originally thought. I'm in at 5.25 with the intent to sock drawer it until the turn around. Not worried about bottom falling out. If the oil spike is really coming, the return could be sooner than later. Look at the companies in the south and west Texas plays. They are draining the labor force in the DFW area. Local mom&pop motel operators are getting $300 a night for rooms. Maybe time to sell the RV Admire your patience and perseverance. Hope your approach is "lottery winning" successful.
Always interested in what you are trading. I just doubled down on SD looking for a turn around in a few months. Got into KMI just before it took off. More like I stumbled and fell into it. Have done well with TJX not normally a retail investor. Sold my CVX maybe too soon. Looking at CDE now in the 8's but the potential back to the 20's is there. Could be slow getting there. RIG is getting a lot of noise but no real movement. Still think there is money to be made there. Sold YUM. Looking at WF again since it fell from grace. Thanks again for the heads up on SLV will spend some time looking at it. Never found my comfort level trading options but that doesn't mean I won't trade them. Good to hear from you. Stay in touch.
This news is another firm step in the right direction. No matter the news, the price of gold will determine when the investors get a payday. Patience is required with this stock. Lots of articles lately on gold prices going up. $1400 discussion today. Until gold moves up in price patience is all we have.
Didn't see your reply on SJT. Must have stopped looking before you responded. RIG? learned one thing about it. Sell on the pop; buy the drop. Can't seem to hold the pop. Making a little money on the in and out; nothing to brag about. KOG is waiting to be bought imo. Made a little money there. Holding some SD but don't feel confident about it. Thanks for the heads up on OAS, NOG, and TPLM, will look at them. I'm looking at VALE and Chesapeake again. Not ready to buy either. Good to hear from you. Stay in touch.