welcome back - glad you got out of your position - what was the reason? Last time I heard from you - you put me and tall on ignore.
It is quite easy keeping up with what is going on at PGLC. NOTHING is going on at PGLC.
Do you have an opinion on the impact of the water shortage (drought) on PGLC?
If the shares drop to true value ($0.15) I might be tempted back in.
Are you going to join in with some rational posts or are you just back here to be rude?
The latest funding cash will be spent only soon without any PEA showing anmy economics. I don't see this worth more than $50M. Shares will halve from here. My new price target is $0.15.
muk, thanks. Is this the same as digging below the water table and wouldn't the current water shortage have a "dampening "effect on anything to do with water? Having a permit to use water that isn't there don't make a lot of sense to me.
Tall, I did see that. I have to say that the whole permiting thing is beyond me. Surely they have to know where they are going to dig before all necessary permits would be issued. If they don't have a PEA and mining plan how can they get full permits?
Now permits for new drill sites should be straightforward.
As you know permits for going below the water table and the water use issue in general are another interesting aspect.
Input from someone with detailed knowledge of the permit process would help.
Tall, I assume that if they did find enough gold to mine economically they would sell it all away to Franco Nevada in return for the funding necessary to get the equipment together to dig it out.
tall, not to worry - according to latest report they expect to spend a little bit of their money making "progress towards an internal economic analysis". This means no economic analysis will be published until 2015. I personally don't think they will ever publish an economic analysis because there won't ever be any economics.
No more funding (and likely more dillution) needed until this time next year.
kathy, please help me with this - is this good or bad news? Not really an oil man - more in to mining.
bb, never forget this simple statement of certainty - "life is a reality caused by the lack of alchohol".
addendum - "All beneficial ownership numbers and percentages exclude unvested 1,000,000 shares of the Restricted Stock Award issued to Mr. Honig on June 18, 2012 by the Issuer and which would not vest within 60 days"
actually at $.07 cents it is not outrageous. They raised $2M plus recently at $0.10. Given the inevitable legalization of hash and the anti live tobacco use trend this is not a bad deal. I am long as a result of a very small investment in VALOR GOLD - remember Peter E quoted Alfers as having said "we have HIGH hopes of Valor Gold" - maybe they were both smoking something at the time of the interview? LOL
Tall, 88M and that is 25% of the PGLC stock (using rounding). How is he going to get the reverse split and full listing done without a PEA? Do you think this is going to his plan?
I can't believe he is risking this much money on a gold mine that won't make any money.
I guess he is in soooo deep he has to keep spending more to keep proping up the share price to realize his exit plan.
the fact that you saked this question on this board shows you that FCX management have not exactly been clear and open on this issue. My understanding is that DJ1 is dead and DJ2 is finished but of no commercial value. Anyone know the real truth please post.
muk, I think that environmental considerations will become much more of an issue - sometimes water is worth more than gold. You watch out - lets see how they get on with their permits - no good having a lot of gold below the water table if you don't get permits to dig it out. Big risk.