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Aren't last quarters productions results due?
Does anyone have any news to report on the London Mining Conference? How did Fifer's investment speach go? A large contingent of the PTQ management team was scheduled to attend, was it worth while? Did PTQ receive PR worth the time and $$ the company invested in the event? Clearly no one ran out an purchased PTQ shares given the 10% drop in price...but it would be encouraging to hear some feedback on the event.
Was PTQ's sponsorship of the NO's Investment conference worthwhile? How many people attended the conference? Did PTQ present the company presentation? If so who was the presenter and how many people attended the PTQ session?
I would have thought PTQ would have received a 10 cent bump post the NO conference. Either through a couple high net worth individual or small institutions learning out the company. Anyone have any specific info on the event?
Did the sponsorship and participation get PTQ exposure that we are seeking? Was it a first step in a larger process that requires ongoing commitment?
Anyone have any opinions on the event?
You two guys both add excellent insights and information to the board!! It would be a tragedy to the board to lose either of your opinions, insights and analysis or change your styles. Information is limited due to PTQ holding their cards close to their chest and I appreciate reading rumors, speculation as well as facts and analysis. We are all frustrated with the pace of Petaquilla's growth, their missed marks and the depressed share price. They have a track record of two steps forward, two steps back, two steps forward, one step back. Hopefully they can find their stride this fiscal year and we will all be rewarded for our patience.
Please stop criticizing each other and focus on your own areas of expertise and let us all hope and pray PTQ continues to execute, improve and god willing, hits pay dirt in Panama or Spain through their exploration programs.
I thank you both for your brilliant minds, hard work and patience!!
Who told you your post was not welcome on the forum. Your post was the breath of fresh air I needed so I can sleep better tonight!! I am just thankful I read it before it was removed.
Thank you ...thank you..thank you!!
All right.....all you Panama based guys what are you hearing about the Liberian deal?? The deal was scheduled to close two weeks ago....there has to be some news on the street about what is causing the delay in the closing.
The site has been too quiet......
Looks like they are behind in closing the Lomero-Poyatos deal. The deal was suppose to close on Sept 30th. Since there has been no announcement they may be fighting through some of the legal issues with the other party who also claims ownership of the property?
The deal better have plenty of warranties for the PTQ shareholders since the deal is a consummate insider deal and is high risk with other parties making ownwership claims.
What is the timeline for the completion of the Iberian acquisition and release of the 45MM shares?
any updates on the shareholder meeting and voting results???
Yeah...the PTQ directors wanted to put themselves in the middle of the deal and flip the deal to PTQ for PROFIT. In doing so, they have pissed off the Executive Management at CRM and now, as has been pointed out, CRM is broke and they have nothing to lose, they are not going to let the PTQ Directors take their resource without a fight.
Greed kills deals and unfortunately, Fifer has a history of put himself before his shareholders and once again his greed is likely creating this issue.
IMO PTQ will not spend capital on buying back shares. They are going to need every penny for acquisition and development investment. The buy back program is really a tool to let short sellers know if they want to short sell PTQ, PTQ is prepared and authorized to purchase shares and eat the shorts for lunch. They have surplus operating capital and have the ability and are authroized to purchase shares. This fact in itself should make deter short seller who prey on weak companies.
I do not anticipate PTQ exercising their buy back rights unless share price drops below maybe $.55.
If they purchased the mine out of bankruptcy...at least in the US, a tenants rights are wiped out in the bankruptcy process.
It would be interesting to find the price they purchased the land out of bankruptcy. Certainly public information.
can someone please post a link to the video you are referring.
thanks.
This is a close as one can get to a corporate game of chicken. Without having the priveledge of viewing the option documents, it is difficult to know who has the upper hand in this situation.
However, I like the fact that PTQ has an operating mine and they are cash flow posative. I also like the fact that Iberian Gold and its predecessors are broke and in fact deeply in debt. Depending on if there is an expiration date on the option, PTQ can wait them out as their funds dry up. Who would be crazy enough to invest in a private bond offering in a company whose only property is in dispute.
I hope Fifer can pull this one out of the bag. The sooner PTQ can provide some clarity on the issue the better for the PTQ shareholders!
Excellent work!! your best work to date!
The principles of PTQ were shopping a PPM for the funding of Lomero Poyatos in July 2010. Given the time line you produced, my guess is Harrogate Group Plc was the Newco the PTQ principles used to purchase Recursos Metalicos from Cambridge Minerals. It would make sense given the time frame of the Cambridge Minerals announcement on Oct 8, 2010.
I am further speculating that Cambridge Minerals is not satisfied with the sale/purchase and is putting pressure on PTQ by claiming ownership. Incidentally, the Cambridge Minerals investors page with their company announcements is no longer available. It now says “This page is temporarily unavailable, please check back later. Apologies for any inconveniences this may cause.” Lojiko..can you still access the page with the corporate announcement?
Which is further indication that Cambridge is a scam and trying to scrub their website of the published evidence of the sale. It would be nice to hear more about this directly from PTQ or for PTQ to complete the transaction and see how Cambridge responds.
Anyone have updates on the Lomera Poyatos acquisition?? And more specifically Cambridge Minerals claims to the land?
The price of gold looks great for PTQ, if PTQ can complete the Lomera Poyatos acquisition, it would take PTQ to new level.
I did a little digging around, but could not locate any new info. Looks to me as if PTQ is the late comer to the property. Cambridge claims "CMR acquired two Permisio Investigation “PI’s” in late 2005 which cover the resource at Masa Valverde." Maybe Cambridge acquired an option on the property based on work completed or $$ invested and they did not fullfill their obligations? Would really like to learn more of the details.
While I am hopefull PTQ has entered into an agreeement to purchase or mine the property, PTQ has a track record of reaching their goals in a circuitous manner, unfortunately at a detriment to shareholder appreciation.
2.5 million on all three exchanges!
the 41 million shares will delute the current shareholder, but the capital required for the processing facility for the Iberian mine will be funded through PTQ profits and a loanand will not result in future dilution.
I thought Fiffer did a good job addressing the shareholders as well as many of the questions asked on this forum.
He cleared up the questions and definition about ozs produced, poured and sold. Touched on PDI and the targets and timelines for its spin out and filings completed. He covered the Iberian property and how it was going to be funded without shareholder dilution and that the Iberian shareholders had already approved the sale. Then he announounced a share purchase plans of PTQ.
The slide show was designed to answer most of the questions which are asked on this forum on a daily and weekly basis. I found the presentation professional and informative.
That being said, the share price sucks and the company continues to be under valued!
Why are no analysts or funds picking up PTQ and writing about the company? I have heard this question asked months ago and I have not been following the boards and coverage as closely as I used to (hoping sticking my head in the sand will be less painful).
But PTQ is now in their second year of production, they have been investing heavily in exploration, they have been investing heavily in equiptment, they have signed an LOI for mines in Spain and Portugal.
The price of gold is up over 30% in the past 12 months and not one professional analyst, professional stock picker, research house or independent geologist has writen a word about PTQ. I mean I invested in PTQ because I believe in the fundementals of the company. I visted the mine and looked for myself. But I have to say that there are several factors which are becoming more worrisome by the week and month.
The more good news PTQ releases, the more their stock price decreases??? Why hasn't Doug Casey or one of the companies specializing in exploration companies covering PTQ? Maybe we should start a concerted and organized effort to contact these analysts and ask them to cover the company? Let's organize together a junket for Doug Casey or someone similiar. Raise 2k and fly them down for 3 days to analyze the company and write about it?
Turd in the punch bowl...Gold is up over $225 since January and PTQ is down 30% since January. I sold 25% of my position a couple of weeks ago and while I think PTQ is an excellent speculative longer term play. There are too many other gold and silver plays to suffer through PTQ's growing pains.
IMO...the recent PR's has been timed to drive share price up before the quarterly results are released in 10 days. Which leads me to believe that the producion results will be below expectations and the company is pumping good news and pumping share price prior to the bad news they are about to release.
As for the letter of intent. Thank god they decided to purchase IRC....it is good for PTQ and for nearly a year the BOD's and Executive Management of PTQ had been planning to take IRC public in a clear conflict of interest to PTQ shareholders. People had commented that it is normal for Fifer to be on multiple Boards, which it is normal, however it is NOT common for the Executive Management of a puplic company to hold multiple Executive Management positions.
Thankfully they are receiving good legal advice about how they handled IRC and they chose not to IPO the company and PTQ with purchase the company which will bring the additioanl value to the PTQ shareholders and ceases the conflict they had created.
I have held all my shares since my purchase in July. But I just lighted up on 50k shares the past two days, in anticipation of poor quarterly results.
DetVic I agree with you. On the March 3rd I posted...There are some major moves being made right now. For Martinelli to repeal a controversal law he just passed based on a poll? Does not make sense. IMO the largest copper producers in the world or some other very powerful interested parties have uncovered dirt on Martinelli and are forcing him to abandon his entire mining policy. Or Martinelli is posturing for Inmet in some manner, but that seems less likely? His actions today make no rational sense.
Another theory which I find interesting.....one of the other posters touched the surface a couple of days ago is.....Martinelli is one of the main investor in Global Bank, which gave PTQ the $12MM loan for the equitment purchase for PDI. In addition to all the postive economic benefits the development of mining the new law was going to produce for the country in terms of jobs and revenue, Martinelli's own bank has an economic interest in the success of PTQ. Maybe the several billion $$ Panama families, including Martinelli, recognized the 20 to 30 year revenue stream that the copper mine will produce and cancelled the new law to position themselves to be future investor with Inmet.
Appeasing the Indians, especially after signing an agreement with them, post Law 8 that the Cerro Colorado region, the other copper deposit region, would not be developed without Indian approval, leads me to believe their is a bigger agenda at play. I tend to think that large multinational interests plyed pressure to derail the mine for both economic and political strategy.
This is terrible news for PTQ! There are some major moves being made right now. For Martinelli to repeal a controversal law he just passed based on a poll? Does not make sense. IMO the largest copper producers in the world or some other very powerful interested parties have uncovered dirt on Martinelli and are forcing him to abandon his entire mining policy. Or Martinelli is posturing for Inmet in some manner, but that seems less likely? His actions today make no rational sense.
If they stop PTQ from mining we are all fucked. There is definatly serious reason for concern for us PTQ sharholders.
Varela Asks For A Delay On Changes to Mining Laws
Monday, January 17 2011 @ 11:45 AM EST
Contributed by: Don Winner
Views: 41
Panama's Vice president and Foreign Minister, Juan Carlos Varela, called on President Ricardo Martinelli for a moratorium so they can achieve agreement on any new law pr project before making a decision to implement changes to the Mining Code. Varela, who did not sign project #277 launched last 13 January by the Minister of Trade and Industry, Roberto Henriquez, believes first the government should wait until the current contracts are settled, a process that could take two years. What's more, he also called for consensus on a draft agreement for the development of mining for the benefit of communities. Varela's statements came during a ceremony for the delivery of certificates of title for land to 244 families in the area of "Brunklincito" in the Loceria. (Panama America)
Editor's Comment: Titles in "Little Brooklyn"? Hey, why not? Apparently future President Juan Carlos Varela has a strong environmentalist streak in him. I think it's a good (great) thing that he wants to modify the changes to the Mining Code to make it a better deal for the communities in the areas where mining will be taking place. There's a lot of money to go around - this copper deal has a multi-billion dollar bottom line for the Republic of Panama, so they can afford to be "generous."
On face value, this appears to terrible news for the Inmet, PTQ and the other mining companies positioned to enter the Panama mining industrty. That being said, IMO this is text book third world politics. Now that a new Mining Code has been written and touted to be ready to be passed in the next two months. Inmet has $500MM on deposit in escrow from the South Korea government proxy waiting for the new Mining Code to be passed and Panama's other large copper deposit has 20 mining companies bidding on a the concession. A key politician decents to scare all interested parties and see how they can help their own interests.
The Inmet project and the other copper project are too important and valuable to the country in terms of revenue and jobs. The mining industry will play an important role in securing Martinelli's legacy as one of Panama's most successfull leaders. This is just posturning, it may delay the new Mining Code from being passed for a month or two, but I am confident that it will not be tabled two years like Varela is requesting.
If we could just get Fifer to act in the PTQ shareholders best interest, PTQ would be a sure bet.
Yes Directors are often on multiple Boards, but Joao Manual is the President of PTQ and the COO and CFO of Iberian Resources Corp, both Exective Management positions. Also Thomas Byrne is an employee for PTQ and the Secratary and Tresurer if IRC.
My specifi issue is with Joao and Thomas.
No one thinks that it is an issue that the Executive Management and Directors started a new mining company?
That the PTQ Executive Management is being paid for a full time position at two companies?
That they are not bringing the new mining oportunity to PTQ?
These are the listed officers and Directors on Iberian Resources Corp.
Chairman, CEO and Director - Richard Fifer
President - Pascual Montanas
COO, CFO - JoaoC.Manuel
Thomas Byrne - Secratary, Treasurer and Director
David Kaplan - Corporate Secratary and Director
No one else thinks this is a conflict of interest?
I would like to know why the magement of PTQ created and is promoting a new gold mining company? The company is Iberian Resources Corp.
Chairman, CEO and Director - Richard Fifer
President - Pascual Montanas
COO, CFO - JoaoC.Manuel
Thomas Byrne - Secratary, Treasurer and Director
David Kaplan - Corporate Secratary and Director
This is almost the exact identical Executive Management and Directors as PTQ. These guys are starting a new mining company on PTQ's time. Any real mining company executives would be making IRC an acquistion target for PTQ, roll IRC into PTQ and be building PTQ's projects and resources for its shareholders.
I have been researching other mining companies to diversify out of PTQ and all respectable mining companies have multiple projects and many of them the projects are on differnt continents.
I mean Fifer is unbeleiveable, he bonuses himself for setting up financining for the comapany when he is being paid 350k salary plus options and then him and the PTQ Executive Management start a second mining companies they intend to take public while being paid by PTQ. They represent PTQ as a 100k oz. producer when it is clearly only a 50k oz. producer. These guys are fraudsters. These guys are not serious executives. Extrapolating 10 days of production for a news release to pump the shareprice so they can call warrents can be expected, but combine that with these other items...these guys are hucksters.
Post your email and I will email you additional info. Fifer and THomas and Joao need to answer to how and why they are defrauding PTQ shareholders.
I wish they announced the subscriber? Hedge fund, bank, speculator? Has anyone heard anything as to who it might be?
What happened to the stocks that used to be posted under your profile? That was excellent info?
Jal...if you provide an email address...I can send you some additional info.
Jalbiglog...Can you post an email address?
It looks like two companies to me.
Iberian Resources Corp is the Canadian company and Iberian Resources LTD is a Austrailian company.
Fifer, Byrne, Kaplan, Manuel are all Executive Managers for Iberian Resources. Manuel is the CEO for Petaquilla and the CFO for Iberian? With PTQ's soon to be new capitalization and war chest, wouldn't the Directors and Executive Managers be bringing value to PTQ by bringing an oportunity like Iberian Resources to PTQ as an acquisition? Maybe they are putting the target in place for PTQ to acquire once the funding is completed? Or why doesn't PTQ participate in their current round of funding since the leadership is basically the same?
Is it common in the mining industry for Executive Management to hold positions in two companies? I know that is common for Directors, but Executive Management?
look at the directors of the Executive Management and Directors of Iberian Resources Corp.
Maybe Iberian Resources Corp is the company will be an aquisition target with some of the funds they are raising?
leach field scheduled to be fully operational in 4th Q 2010.
The last note is not due until March 2012. That is more than 18 months away. With additional cash flow they received from the brutally shitty DB they just completed, they will beable to complete the leach field and increase gold production by 50,000 ozs per year. on the conservative side that should increase production to 10,000 ozs per month. The leach field is scheduled to be fully operational by the 4th quarter 2012. That is 15 months at 10,000 ozs per month.
at a gold price of $1,300 they will have gross revebues of 13MM per month, less 5MM production costs for an 8MM per month profit. Less gold they have to now give to DB. even at 5MM net profit per month over 15 months that is 75MM profit. Pay the last note off from company profits. Stop let the bankers and Platinum weaked the company by the bringing shitty financing deals.
If you have a bank or financial partners who are working with you financing can certainly strengthen a business, but the leaches PTQ currently has is only taking advantage of a unsophisticated Fifer. Or Hopefully Fifer will wake up and change the Platinum guys off teh BOD.
Who is MICA and Azuero? please explain...thanks
Yeah...so good look at the effect on the stock price!!