PACIFIC COMOX (PCM.v) or (PAOCF)

Anybody still own this?

Pacific Comox Resources Ltd.: Indicated Resource of 5.9 Million Tonnes Grading 0.34% Copper and 0.039% Molybdenum Reported for South Zone at Ryan Lake in Initial N.I. 43-101 Report
MINERALIZATION IS OPEN TO DEPTH AND LATERALLY ON MOST SECTIONS PROVIDING POTENTIAL TO FURTHER INCREASE RESOURCE TONNAGE

http://www.marketwatch.com/news/story/pacific-comox-resources-ltd-indicated/story.aspx?guid=%7B46293AD2%2D2CFD%2D490C%2DB522%2D0861CC3DA821%7D&dist=TQP_Mod_pressN

duckncover wrote:

Anybody still own this?

Pacific Comox Resources Ltd.: Indicated Resource of 5.9 Million Tonnes Grading 0.34% Copper and 0.039% Molybdenum Reported for South Zone at Ryan Lake in Initial N.I. 43-101 Report
MINERALIZATION IS OPEN TO DEPTH AND LATERALLY ON MOST SECTIONS PROVIDING POTENTIAL TO FURTHER INCREASE RESOURCE TONNAGE

http://www.marketwatch.com/news/story/pacific-comox-resources-ltd-indicated/story.aspx?guid=%7B46293AD2%2D2CFD%2D490C%2DB522%2D0861CC3DA821%7D&dist=TQP_Mod_pressN

Millions of shares.

So, looks like a minimum 10 year mine life. $15,000,000 per year operating cash flow.

$4,000,000 to get the mill revamped for copper/moly. 400% return, almost, for the initial start-up costs. So, 125% times market cap operating cash flow in the first year.

Of course they will have to triple the mill capacity once the other two resource estimates come in, especially the North Zone.

This is my retirement stock.

Sounds great!!

What's that equivalate to in a share price if we use a P/E of 10 and 15MM cash flow?

Not sure of the number of outstanding shares at this point.

The website seems out of date. The last news release is from February.

Thanks

duckncover wrote:

Sounds great!!

What's that equivalate to in a share price if we use a P/E of 10 and 15MM cash flow?

Not sure of the number of outstanding shares at this point.

The website seems out of date. The last news release is from February.

Thanks

No point in being too exact, but figure $5,000,000 in earnings. times 10 is $50,000,000. divide by 170 million shares and....we get roughly 30c per share.

When the next two resource estimates come out, it should become obvious that they will first convert the mill to copper/moly, then later expand by 3x or so, bring the earnings to about $20,000,000 per year at todays metals prices. I expect both copper and moly to continue moving higher.

I get $1.00 fair value when Mabel comes on line, but we could easily see $2.00 in the next five years.

I start building schools in Mexico when it hits $1.00

I expect a few of you to help with some labor, on a working holiday, when the time comes.

Thanks Bull,

Oh yeah, I will be there for sure. Just make sure you build them near the beach, and that one of the required courses is Surfing 101.

bull wrote:

I start building schools in Mexico when it hits $1.00
:

I hope you'll use rebar and won't water-down the cement like they do in China... (ouch!)

I'm patiently holding 200K shares and waiting...

FYI: The 100K shares that crossed the ticker as "Canaccord" today are now mine, purchased thru Schwab on PinkSheets

What kind of commission do they charge for pink sheets?

you bought more???

I trimmed 2 weeks ago, bought more today, now at 300K shares.

I pay $8.95 commission ...pinksheets spreads are painful, though, not the commissions. Don't plan on day-trading or skimming a few % price change.

From their site: 120+ trades per year OR $1,000,000+ in household balances = $8.95

(I do 120+ trades/year)

Another company with a major moly resource announcement. Also very muted response by the market.

The claim is that moly demand will exceed supply in the near future. Something will soon have to change.

http://watch.bnn.ca/the-street/may-2008/the-street-may-30-2008/#clip56332

eResearch reiterates PCM.v as a buy

http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=23407473&l=0&r=0&s=PCM&t=LIST

Originally 2000m of drilling was announced. PCM.v has now said they will drill a minimum of 6000m

If they drill only 20m deep, then we should be looking at 300 drill hole assays, soon! Thats gonna be some report! Workie, workie...busy bee!!

im just browsing through all the charts - i noticed thats one hell of a chart for pcm.. .a very solid base.

the bad is if any news drags us down the current level, climbing above .08 will be very hard.

I bought shares yesterday at $.08

Expecting news from Mabel property, soon.

warrants expired worthless...........

now is a good time for some good news

studbkr wrote:

http://www.gold-miningstocks.com/Research/PDFs/PCM_022208_B_cover.pdf

see below :

D&D Securities Company has provided investment banking services to Pacific Comox Resources Ltd. in the past 12 months.
D&D Securities Company and/or its offi cers, directors and employees may from time to time hold shares, options, or warrants on any issuer mentioned in this report.

D&D recently bought over 3 million shares. I think that speaks positively as to their bullishness.

[quote="bull"]

Quote :

about share reverse split...

Anyway, they think they can get the share price up quite a bit by summer. In this case they would not bother at all.

I am still wating for share price increae........

Bought a lot more shares today. When we have a big "up-day" you all will have to forgive me, because I will probably sound a little giddy.

Hi Bull

How will the energy prices affect the economics of this ( future ) mine ??

Do you have any data ??

Thanks

P.S I know you are married to this stock............

silverman wrote:

Hi Bull

How will the energy prices affect the economics of this ( future ) mine ??

Do you have any data ??

Thanks

P.S I know you are married to this stock............

I don't have any hard data. The reason I have not spent to much time on this issue is simple. PCM's mill is very close to the three major zones of mineralization. The mineralization is also high-grade at surface and will mix naturally with the lower grade as the pit's perimeter increases in size. The end result is a mix which remains a fairly high-grade for an open pit operation.

Fuel economics are much more sensitive for marginal grade operations. Rising fuel costs will be a benefit for PCM, due to other marginal operations be affected, forcing the price of moly higher to keep them producing.

It took me quite some time to realize the level of resilience PCM's situation represents, but when you do a broad infrastructure comparison with other operations, and planned operations, you soon come to the conclusion that moly supply would cease to exist before PCM would no longer be extremely profitable.

Hi Bull,

PCM.v looks awful cheap at 6.5 cents at last trade. Do you still think it is a good stock? I saw someone post somewhere that he expected it to be a ten bagger. Should I or shouldn't I? Well, you did call some good deals. I have a shy trigger finger.

jeanvaljean wrote:

Hi Bull,

PCM.v looks awful cheap at 6.5 cents at last trade. Do you still think it is a good stock? I saw someone post somewhere that he expected it to be a ten bagger. Should I or shouldn't I? Well, you did call some good deals. I have a shy trigger finger.

I have no doubt in my mind it is a good stock. I would caution that it should not be major holding, for most. I see no reason why it could not be a ten bagger, but it will take time. Better market sentiment would sure help.

I have a position in GLD ETF, up about 10% so far. It is encouraging that D&D has a stake in PCM. I could switch out of GLD and into PCM, but I feel too good about it. I have been using Alex Roslin's COT blog, and he seems able to time it. I think I'll close the postion when Roslin gives the sell signal, but I am tempted to use 5x leverage on Roslin's next buy signal for gold. Market sentiment for juniors is a concern as you mentioned.