impressive trading volumes, yesterday the stock price increased by 62.07%, while the traded volume exceeded 28 million shares.The reason for the high trade appears to be the latest news about Pacific. Yesterday, the company announced a corporate update on its operating subsidiaries’ status and their mining projects, including the development plans for next year. Besides, Pacific commented on its corporate website the production plans by 2014.
The news being released, PCFG started to climb at full speed, however, no one can be certain yet about the future stock price movement.[BANNER]
As already mentioned on hotstocked.com, during the last two months PCFG share price has regularly reached its peaks on positive news and promotions. Obviously, now the company is pushing up the stock price again.
Meanwhile, the financial condition of Pacific remains unknown as the company has not reported with the SEC for two years now. Yesterday, it has been stated that Pacific has 743,732,651 shares outstanding and a new public auditing firm has been engaged to prepare the company’s audits for 2008 and 2009.
It seems that the management relies mostly on their material agreement with Crescent International Ltd. to bring additional funds for Pacific’s operations. However, the future plans of the company are still only optimistic projections.
