Got this reference regarding yesterday's action from stockigloo

PC Gold Inc (TSX: PKL)
Current Price: $0.83
www.pcgold.ca

NIA’s new stock suggestion for 2011 is PC Gold Inc. trading on the TSX under ticker symbol PKL. PKL is currently up to $0.83 and we think has significant upside potential from its current price. PKL is one of the most undervalued and over-looked gold companies we have ever discovered.

PKL holds 100% ownership of Pickle Crow, one of Canada’s best known past producing gold mines, located in northwestern Ontario in a belt of rocks well known for its rich gold deposits. PKL believes there is considerable gold left in place within or close to the mine, and a major exploration program is unfolding with the objective of quantifying what remains, and making new discoveries.

The potential to revitalize old Ontario and Quebec gold mines has been recognized by other present-day resource companies such as Goldcorp, Detour Gold, Osisko Mining and Kirkland Lake Gold, all of whom have achieved success with the old mine redevelopment model. PKL recognizes similar potential at Pickle Crow, and intends to follow the same path of its peers with the re-exploration and redevelopment of this well-known past producer, at one time among the best known underground gold mines in Canada.

Pickle Crow consists of a mix of contiguous patented and non-patented mining claims covering a total of 4,117 hectares (10,173 acres). The core area encompassing the past producing Pickle Crow gold mine comprises 98 patented mining claims covering 1,532.9 hectares (3,788 acres).

Pickle Crow has easy road and air access with excellent infrastructure already in place including power generators, 3 shafts, 2 winzes and some 40 kms (25 mi) of workings, a 250 tpd mill, an on-site office, tailings sites, a mine dry facility, communications, and water. There is also nearby housing, educational, medical, recreational and shopping facilities, skilled labour, industrial supplies and services.

Pickle Crow produced 1.47 million oz gold during the years 1935-1966 and only closed because the price of gold fell to $35 per ounce making it unprofitable to continue production. A major exploration and development program commenced on Pickle Crow late in 2007, and was accelerated subsequent to PKL's IPO in May 2008. PKL’s overriding goal is to demonstrate the existence on the property of a substantial compliant gold resource, and to grow that resource base as much as possible by expanding known gold zones and generating new discoveries. These goals will be pursued by, firstly, quantifying what remains within the historical workings; secondly, by drilling lateral to and below the historical workings; and thirdly, by drilling new targets located away from the core of the old mine.

PKL has 66 million shares outstanding and a solid balance sheet with $13.3 million in cash, NO DEBT, and a book value of $0.81.

PKL is trading for below its recent private placement price of $0.90 and below its IPO price of $1!

PKL's market cap at $0.83 is only $54.8 million. If you subtract their cash of $13.3 million, the Pickle Crow property is currently being valued at only $41.5 million when it previously produced 1.47 million ounces of gold!

This means PKL's Pickle Crow mine is currently being valued at only $28 per previously produced ounce of gold, when gold is now over $1,430 per oz!

PKL recently reported the discovery of an entirely new, large scale gold-arsenic system. The new discovery, named "Central Pat East", has been intercepted in three new widely spaced diamond drill holes, PC-10-105, 108 and 119, drilled in follow-up to gold-arsenic anomalies cut last year in hole PC-10-062. The Central Pat East discovery is located approximately 2 km northwest of the Pickle Crow Mine, and 6 km northeast along the Cohen-MacArthur structure from the past producing, high grade Central Patricia Mine, which hosted arsenopyrite-rich mineralization similar in style to that of Central Pat East.

One year ago, PKL made a run from $0.68 to a high of $1.90 for a gain of 179% in just 5 trading days, after their drilling indicated a major discovery of extraordinarily high grades of gold at moderate depths right next to existing workings. In our opinion, based on PKL's drilling during the past year, Pickle Crow has the potential to contain a multi-million ounce gold resource. NIA believes most of the gold at Pickle Crow still remains in the ground and there is huge potential to return this property into one of the top producing gold mines in Canada!

Disclosure: Neither NIA nor its co-founders currently hold a position in PKL. Our profile of PKL is completely unbiased. NIA's President may purchase a position in the company AFTER this report is made public. If he does, it will be fully disclosed here. NIA's co-founders may have previously disseminated information on PKL to other newsletters and media outlets.