Bullboard - Stock Discussion Forum Providence Gold Mines Inc V.PHD

Alternate Symbol(s): PRRVF

Providence Gold Mines Inc. is a Canada-based mineral exploration company. The Company is engaged in the process of exploring and evaluating its mineral property located in California, United States. It owns 100% interest in Tuolumne Property. The Company’s gold mines consist of seven patented stake mineral claims and 22 located claims, encompassing an area of approximately 324 acres, which... see more

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Providence Gold Mines Inc > How Long?

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Post by givemeabreak1 on Sep 25, 2021 1:06am

How Long?

When did they first pick up this property? About 4 years ago? Financing was what .08 at the time and they have gone nowhere it seems. Can't be worth more than .04-.05 it would seem!

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Comment by KozmoT on Sep 25, 2021 1:30pm

They got it in 2017 for $25,000 and 1.5 M shares. Since then they have not added a single ounce of economical Au defined resource to it so presumably it is worth as much now as it was in 2017, if not less because they've struck out on a number of fronts. And since this play is pretty much all they have I would suggest that maybe a 6 cent valuation on the number of shares they have out is ...more

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Comment by givemeabreak1 on Sep 26, 2021 7:30pm

Kozmo Do not forget that alot more cash and shares followed the initial fee for the property. More importantly it just got them the right to spend a bunch of money to get an earn in of 50%. To actually buy the property they have to pay $5 million in cash lol. Here is a question for someone to answer. Maybe I have just missed this on other peoples financials? On ...more

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Providence Gold Mines Inc