Where's the permit? First of all 65 Moz of gold is hardly true.. yes they have that much but how much will be mined?
If you want to compare to XG, PVG has about 8 million ounces of high-grade gold.
That gold isn't worth anything if it cant be pulled out of the ground...
PVG needs $250 M in cash to fund the mine-build, they need permits for their properties and they need sentiment in the gold sector to change or no one will want to finance them.. just look at the smart money that just did the financing.. they're down 10% in less than a week on a $70 M dollar investment..
Aurelian Resources the best gold deposit in history of gold mining was bought out by Kinross for over $1 B and still has yet to be permitted 4 yrs later.. do you think gold majors can afford to throw any more money and un-permitted projects? Look at their share prices.. this reflects poor management of cash-flow.
I don't care if these majors are trading for 3 times cash flow.. when they spend their annual bank account on useless acquisitions that cant be permitted the cash wasn't used wisely and their share prices should not be rewarded.
So far I have been 100% right since my calls yesterday.. you can be with the cheerleaders on this board or you can step back and wait for lower prices and heed my caution... PVG is a great company but the chart is saying the stock can be bought cheaper..
If there was no volume I wouldnt be here but funds are selling into you guys.. why be someone else's exit strategy..