Pacific Gold Corp.’s (PINK: PCFG) business plan provides for the acquisition and development of production-ready and in-production gold mining and base metals operations. (Read more)

PCFG has been having a major pullback as the company has sought to settle with Platoro West Inc over a title dispute. Under the terms of the settlement PMR, PCFG subsidiary, is required to pay Platoro 15% of all proceeds received from Black Fire Minerals subsidiary Pilot Metals under the option agreement between Pilot Metals and PMR.

PCFG CEO Rob Landau stated: “We felt that our claim to title was very strong, however the length of time and money involved in fighting the dispute was considerable and we felt that the Company would benefit more from having our resources working immediately at the Black Rock Canyon Mine .” (Read more)

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Technical Indicators:

• PCFG recently hit its yearly high of $.0843 only to pullback almost 53% to close at $.04! According to the indicators, PCFG may have one or two more days of struggle before it bounces, but you never know.
• The RSI is moving towards oversold territory and is currently moving at 34.
• The MACD had a death cross, which often means a negative reversal and as you can see it was no different in this case.
• The ADX also had a negative cross confirming the MACD’ move.

The Bottom Line

Even though gold prices have been sky-rocketing, mining stocks have been struggling, but up until a couple days ago, PCFG had been doing very well to move more than 400% in the span of a few months! This could be a great opportunity to pick up some cheap shares at early July and late June prices!

Make sure you SIGN UP for my FREE EMAIL ALERTS! Recent Article Winners: DMD 34%, DNDN 51%, GNOM 53%, LBAS 315%, LEAP 65%, LEXG 48%, MOTR 39%, SKH 33%

Good Luck,

Ian Decker

Disclosure: No Positions

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