Skilled Pilots Find the Gold Again
These guys have steered their way into major strategic gold desposits before, and they are in the process of doing it all over again.
Over the past week or so, the market finally began to take notice.
I refer, of course, to Pilot Gold, which was created as a spin-off of assets not included within Newmont's $2.3 billion acquisition of Fronteer Gold.
On November 16, 2011, I wrote on my blog here:
Has anyone noticed how cheap Pilot Gold has become?
Remember, that's the same team that built Fronteer Gold from the ground-up. Pilot began as a spin-off from Newmont's purchase of Fronteer, and started out with a significant portfolio of projects. Have a look at Haligaga and TV Tower properties in Turkey (joint ventures with Teck).
These guys are cashed up as well for some sustained drilling. I've been a buyer of these shares recently beneath $1.25.
I did indeed buy shares near that level, and today it's a top-10 holding of mine.
I met up with the Pilot team in Vancouver last month, and was extremely impressed by their serene confidence given the stock's rough trailinhg performance. They seemed like guys who knew something I didn't, and after the recent press releases it's clear that they did indeed.
The pink sheet ticker symbol is PLGTF. On the TSX it's PLG.
Here are the last 2 press releases, which are each awe inspiring:
No near-term projections here... stock has moved quite a bit and could either stall or continue near-term. Long-term, however, I think these guys are clearly on the gold once again and likely to continue piloting a profitable course.