Petaquilla Minerals Ltd. (fka PTQMF)

[carlosc]

It infuriates me that management would at best insult its shareholders and the investing public with an obviously nonsensical story about financing that anyone with Google and ten minutes of free time could plainly see was pure fantasy. It was so obviously nonsense that I didn't even bother asking my connected associates what they knew about it.

It annoys me that some connected people who post here acted as though the financing were real. That shows either continued faith in management which is to me a sign of delusion or it demonstrates intentional deception.

You could explain the basic mechanics to a four year old and he would know that it's ridiculous. No one is going to give $60MM or $120MM or whatever the invented number was in financing to a company worth ten million dollars. That is simply ludicrous on its face and again I find it deeply insulting that the company would suggest such a risible fantasy as reality.

I do not doubt that there are plenty of people who would be happy to finance further operations because with competent management the company could be quite profitable. But clearly the first (and perhaps only) condition of financing would be that Fifer resign any involvement in the concern.

I haven't done any formal calculations but from looking at the charts I don't think that there has been nearly enough volume over the last year to indicate that the several principal institutional holders could have liquidated their shares. So I assume there is still some significant institutional ownership, and there is certainly still some significant local ownership. So it is not irrational to remain hopeful. But I would like management to knock off the dog ate my homework bit and I would like to see ostensibly informed investors not fall for that sort of patently absurd slapstick going forward.