PACIFIC COMOX (PCM.v) or (PAOCF)

Hi Leonard,
The last drilling is result is smaller than expected,will it affect much of your calculation.Is it still feasible that they carry on their mills to operate?
bbbho

bbbho, actually the drill results where right in line with expectations, that why the stock held in well, right after the release. Shelby stated that he expected the stock to go down to 10c, looks like he may have bought some, don't know. The reason the drill rsults are fine are because they don't need a mill to extract the ore, it is heap or vat leachable, which only costs about $9 per tonne. There are some warrants coming free trading in June and with poor market sentiment, we have a little pressure. I am not concerned about this because, I know the PM sector is volitile and I also know that PCM.v is great value. PineTree also knows this, and the important thing to do is, to buy before the market assigns, what the correct value is. I own all the shares I bought, and will not sell, unless we get a huge quick spike up.

thanks i try buy at 10 cents today but in vain.I have around 250000 at 14.50 cents.

Looks like your average cost is the same as mine. Now we wait I quess. I will try to give Donald Empey a call and see if he still wants me to come for a visit.

I have bids in at 10c, I just can't believe how cheap PCM is; sure hope I am not missing something here. I keep looking, but all looks well.

I have family with bids in at 11c

DON"T SELL YOUR PCM!!!

http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGenerator&date=20070606&archive=ccnm&slug=395513_1

Place bids at 11c, but for goodness sake, don't sell what you have!

PCM.V should gap up tomorrow. Big moly find.
http://biz.yahoo.com/ccn/070606/200706060395513001.html?.v=1

There are shares coming free trading so I would not chase PCM too hard, but any way you slice it, PCM is way undervalued.

Bull wrote (on Jason's board):

Mabels ore can be extracted at $8.60 per tonne, (this includes heap leach cost, liquids and all).

Nevcop replied (on Jason's board):

Isn't $8.50 a tonne extraordinarily cheap extraction, even at surface?
Where did you get that figure from?

DZ,

I don't have it handy, however there is an open pit, crush, heap leach project by a large company close by with the mentioned operating cost of $8.60 per Tonne.

Newsletter writer, Greg McCoach was there to see Pediment Explorations recently and wrote about that companys costs in relation to PEZ's project.

We still need to see metallury analysis for PCM, but I understand the geology is the same.

I am sure I will soon have something for reference, and I will post it as soon as I do. If anyone finds it before I do please do the same.

BTW I should mention Donald Empey from PCM said he can't see production costs over $200 per gold oz equivalent, even if they had to use a vat leach process.

Almost looked like some panic buying came into PCM at the end of the day.

Holy smokes!

PCM is getting some good action today. I am sure it will come back a little, but I think it will finally get a little more respect.

Congratulations, Bull. It is a wonderful pick!!

PCM should make us all weathier over the next few months.

http://biz.yahoo.com/ccn/070919/200709190414113001.html?.v=1

Pacific Comox Resources Ltd.: 10.3 Grams/Tonne Gold and 339 Grams/Tonne Silver Reported Over Interval of 19 Meters Near Surface in Infill Drilling on Carmelitas Zone

See the drill results in the map -->
http://www.ccnmatthews.com/docs/CARMELITAS_ZONE.pdf

And it just proved that you do not need MP tool to find the best picks. We just need Bull to find us the best ones (and of course we should all do our own DD!!)

You are too kind EarthMonkey!

I don't want to totally disrespect MP, but it could never see something like this coming. MP has it's place, I quess. Time will tell.

PCM news just blew me away! I wonder how long before the market wakes up. I am tempted to add to my already very large position.

I do not disrespect MP at all. It provides a great list of companies so I can research stocks much easier.

Having said that I dont pay too much attention to the numbers Shelby or anyone punched in until I read everything I can find over the internet about a company I am interested in.

And the fact is, you did not rely on PM to find PCM and NI. I did not use PM to find GOZ and CZN. Aloha and Studbr2 did not find CML using PM either. We all have our own criteria to evaluate a company. And we are all capable of picking winners of the winners.

And over the past few months, you prove to me that you are more capable of picking good stocks than I am. So, naturally, I should study your picks and invest accordingly.

I am so looking forward to getting an email alert from you on your next pick!!

To Bull:

3 Questions

Question 1
Is the company going to start heap leaching so that they can start production or are they going to build a mill?

Question 2
What is the importance of market cap. You stated the market cap is $18 million.

Question 3
You stated on another forum that 53 million plus warrants will be coming due June 12, 2008. How will this effect the company?

1.) PCM still has a lot more drilling to do. PCM would not use a mill with this type of deposit. We will need to see what the metalurgy of the ore is, but heap leaching is the only way to extract silver and gold from the lower grade mineraization.

2.) A low market cap means, a small amount of investors, with a relatively small amount of capital can push PCM's share price much higher.

3.) Warrants will be exercised if the share price is over 10c and some will likely be sold. This would present selling pressure in June 2008. Obviously this is a long time from now and we could take some profits before then. PCM could also have accomplished so much by then, that most warrant holders will chose not to sell. We will have to see what happens. Also PCM will receive 53 million x 10c = 5.3 million in cash, fo the warrants.

I just want to be on the record for saying.

"Shelby does not give PCM enough credit"

A couple of posts from StockHouse.

http://www.stockhouse.com/bullboards/viewmessage.asp?no=15665684&t=0&all=0&TableID=0

http://www.stockhouse.com/bullboards/viewmessage.asp?no=15666189&t=0&all=0&TableID=0

Poster Inopsy figures $1.00 on the Rayan Lake resource estimate alone.

Donald Empey is a little behind on the resource estimate, but I know he is working on it. I for one cannot wait!

Bull - you were really kicking today. Great to see all the posts. It will take me until Monday to catch up on all them as my online time is limited on the weekends! Keep up the great work over here.

shelby may not give this stock enough credit but i agree with him in one aspect - i am leary about the june 08 warrants also. ive seen stock after stock get destroyed by the dilution

i really want to be convinced to buy but am too chicken because of this one point (despite everything said here http://jasonhommelforum.com/forums/showthread.php?p=21415#post21415)

mshen, tell me which one you thought had good promise, only to see it destroyed by dillution. It might be good for me to study the timeline and see how it relates to PCM's current situation.

TIA

My two centavos:

MTO.V just had 18M shares come free Trading this past monday. It kept the stock very depressed since the 4 month hold started in May. The recent visit report was very positive, however. The big dilution was the only way to get to production. It hasn;t been "destroyed", but it comes to mind...

The biggest joke stock I know is Silverado with 716 million shares (and also Unico), but not really valid examples. SBR members are not that dumb

http://finance.yahoo.com/q?s=SLGLF.OB

http://finance.yahoo.com/q?d=t&s=UCOI.OB

[quote="bull"]1.) PCM still has a lot more drilling to do. PCM would not use a mill with this type of deposit. We will need to see what the metalurgy of the ore is, but heap leaching is the only way to extract silver and gold from the lower grade mineraization.


Bull:

What do you mean when you say "We will need to see what the metalurgy of the ore is"?