The following was from Briefing.Com on Oct. 15. I feel like re-living the excitment when I read it again.
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BRUSH CREEK MINING AND DEVELOPMENT CO (BCMD) 1 7/32 +13/16. Shares of this Grass Valley, CA-based mining company are a hot commodity on Wall Street this afternoon, as investors come down with a touch of gold fever. This morning, Brush Creek announced that it encountered a high grade enrichment in pillar no. 1 of its lower Brush Creek Mine. In dramatic fashion, the company describes the ore in one segment of the pillar as, " rich enough to be taken from the mine in 5 gallon buckets that were deemed jewelry-grade." Also contributing to the 200% explosion in the stock was news that the company is currently in negotiations with a jewelry retailer who has expressed interest in buying the gold at "well over the spot market price." If this find happens to pan out, above market price is just what the doctor ordered. Over the past nine months, the company has logged revenues of only $20,000. While top-line has been extremely light for the past 13 quarters (never exceeding $21,000), investors/speculators are hoping for another quarter like the one posted back in December of 1994. For the 2nd qtr of fiscal 1994, Brush Creek reported revenues of $4.24 million. The standout quarter produced earnings of $0.65 a share. Unfortunately, no profits have been since then. But, according to the reactions of the gold bugs, happy days are here again; or at least on the trail leading back to Grass Valley. |
