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If you know this outfit in New York, they handled the 2006 stuff for Petaquilla. It would appear to me after reading the boiler plate that they are making sure that everything is done at arms length so to speak. I noticed that it shook out about 40,000 shares of day trader action. All the big boys are staying firm and I am sure they were already aware of this. Looks like routine business to me. Go back to sleep!!
LET ME TRY TO EXPLAIN MORE CLEARLY. GO TO THE LINK YOU SENT IN YOUR MESSAGE. (Home for the PDAC 2010) UNDER THE FIRST SUB TITLED SECTION "TRADE SHOW AND INVESTORS EXCHANGE EXHIBITOR LISTS"IN THE FIRST SENTENCE CLICK ON WHERE IT SAYS,"CLICK HERE".
MOVE DOWN TO WHERE IT SAYS,"SEARCH FOR EXHIBITOR BY COMPANY" AND ENTER 'PETAQUILLA'.
BLOCK ON LOWER RIGHT SIDE OF PAGE WILL LOAD AND SHOW 'PETAQUILLA GROUP' CLICK ON THE LITTLE BOX TO THE LEFT OF THE NAME.
MOVE TO THE BOTTOM OF THE PAGE AND CLICK ON 'PROFILE'
READ WHAT THE LATEST ON THE COMPANY PROFILE AND THEN FIND SOMEWHERE TO THROW-UP. LOOK FOR THE GUY WHO IS RESPONSIBLE...FIRE HIM... AND THEN POST AN UP-TO-DATE PROFILE SHOWING THAT WE ARE A COMMERCIAL, PROFITABLE PRODUCER!!!
I went to the PDAC home page for the convention. I Clicked on the trade show Trade Show Investors Exhibitors Exchange List and then searched for Petaquilla. It came up Petaquilla Group and then I search for their location; that was on the 800 Investors Exchange level. Then I clicked on their profile, after I found them, and there was a piece from late 2006 or early 2007 saying that they had started a project where they owned 100%, and that they were building, and would be seeking permits,(I believe),and would hope to start production shortly after Q4 2007.
I was very surprised to see this information, and frankly, if I was an outside investor, I would not bother even stopping by if the latest info from the company was Q4 2007!! I find it inexcusable that they have not bothered to update the material. I am sure you can find it if your try and I imagine a zillion others, who are using the web site to make their tour plan, have also seen it and written them off.
I just looked it up right off your link. Click on the first spot that says 'click here' and then just follow the prompts. You can't miss it.
Does anyone know in PQI will be making any kind of presentation or just have a booth on the Investors Exchange floor. I noted their profile for PDAC has not been up dated since 2007 or earlier. Not a very good sign from a marketing standpoint. Can't understand why they have not updated?
I know a place where you can rest. They have pretty rooms with quiet music and the walls are nice and soft, just like the floor and ceiling. There are no mean traders or short sellers and no one manipulates your investments. So nice...so peaceful.........Frankfurt is even now...It will be OK just relax and rest...we'll wake you in July.
Before you guys need therapy put away your computers and don't look at this stock again for at least six months. By then after the annual report it should be at $3.50/share which will be about 500% for six months. Otherwise you will drive up health care costs.
Not so anemic today. Jobless claims up, wholesale inflation up, leading indicators way down below expectations, state pensions one trillion short in funding.crank up the printing presses...$1,500.00 gold here we come!!
I wonder how much of this move is related to gold production and how much is the pending spin off of PQI. I wish I knew what their assets were and how much ongoing business is in the pipeline. We know that they will be doing all of the further development work for PQT, but there may be some fat government contracts for transmission lines and hydro-projects that have been alluded to before. Panama desperately needs more hydro produced electricity.
Things are very confidential in Panama. Nothing is published. You may have seen in the papers, last week someone was digging in their yard in Colon and turned up a chest of doubloons from Henry Morgan. They took them to a pawn shop and sold them for just bullion weight!!
Interesting link. However you will note at the top of the list that the gold is not necessarily stored in the countries nor do the central banks allow independent audit. Also Panama,that has always had a lot of gold, is not even listed. Do you think the gold really is in Fort Knox...or did it go the way of the Social Security Trust Fund?
EXCELLENT ANALYSIS!!! THE USA HAS ONLY TWO WAYS OUT...DEFAULT OR PRINT!! WE WILL NEVER DEFAULT SO THE BUDGET FOR INK AND PAPER IS ON THE WAY UP.
Good Luck!! I think that PTQ is now "OBE" as they say in the military. Being "Overcome by Events"; they now have some close deadlines where they have to publish certain things relative to the spin off and I cannot imagine a shareholders meeting without a Power Point update on production, exploration, heap pads, etc. etc.. About that same time Q3 comes out. They are coming to the end of the runway and if they are going to fly, now is the time to pull back on the stick!
I think spin off will occur before the end of the fourth quarter so that the annual report will reflect only the 100% gold operation. My guess that the date of record for the spin off will be retroactive some time before the March 22, 2010 shareholders meeting so that there will not be a bunch of volatility in the stock. Management seems to be very responsible and interested in taking things step by step and not creating any wild movement one way or another. MY GUESS IS THAT THE CUT OFF DATE FOR DISTRIBUTION OF PQI SHARES WILL BE RETROACTIVE TO FEBRUARY 28, 2010 THE END OF THE THIRD QUARTER. They will not want to have any fourth quarter activity or reports interfering with PTQ. Just a guess but I would not count on any shares purchased after March 1, 2010 to take part in the distribution spin off.
We will know for sure as soon as the Plan is published. My understand is that their attorneys are finalizing it now, making sure of the efficacy of the tax implications.
I'll stick with my projection of $0.09/share for Q3. Next big news will be the Plan of Arrangement that will definitively spell out the spin off conditions! That will be out in a couple of weeks, since the must publish the agenda and proxies. Very anxious to see what those PQI shares will be worth. They will have a lot of assets and probably no debt. $5.00/share???
Company will have to issue Plan of Arrangement, agenda, proxies, etc. at least two weeks before 3/22/10 meeting. My guess is that they are trying to determine what is the best route to take to avoid taxes. We should certainly have some news within two weeks, and maybe, if we are lucky, Q3 and a company update by the meeting.
Volume is nice...but I'd rather have a low volume green day the a high volume red one!!!! Need to stop and smell the flowers once in a while.
Monday is a holiday...
Let's open Tuesday at $0.96.
Above =$0.65 now. Toot! Toot! Toot! All Aboard!!!!
Trading at +$0.64 now.
Strange it is not trading today???
Astute observation.
I believe that this is due to the complexity of the spin-off which was designed as a tax efficient vehicle to distribute equity in the company. Also, I believe that it is management's desire to be able to report Q3 information before the meeting so that share prices accurately reflect the value of the company. If I remember correctly last year's Q3 was reported about March 15, 2009.
Do not be surprised to see this company open at $2.00 to $3.00 dollars per share one of these days. Such a jump would not be unique and would recognize the true value of the company based on production numbers. Also, Panama is right in the middle of writing a new tax code that will affect both individuals and corporations. Most people feel it will reduce taxes for corporations and investors.
Somebody grabbed 100,000+ shares at market right at the end of the day. GOOD SIGN!!
That would be profit,(i.e. earnings/share Q3), according to the way I see it. I would expect 2011 fiscal year to produce somewhere between $0.45 to $0.55 per share and these pseudo analyst fellows are estimating a loss of ($0.20) for that year. That is what blew me away.
All of this is also ignoring the on going exploration that will just yield some more gravy and then of course the doubling of capacity to 5000+ tons per day throughput.
That is why I am not too excited about recent declines in share prices. If no one else is willing to actually do real DD, then to hell with them. We will just hold our investments and help Petaquilla wheel the money to the bank each year. I am going to Panama at the end of May when the year closes and I hope they have a little wheelbarrow of misc. nuggets as a surprise.
By the way the National Assembly is in the middle of writing a new tax code, that will probably include a flat tax like a VAT of some sort on spending, and significantly reduce corporate taxes.
Seems to be a lot of really bad misinformation and projection numbers floating around the web. Big Charts Analysts report shows:
EARNINGS
May 31, 2009 $-0.27/sh.
May 31, 2010 $-0.25/sh. projected
May 31, 2011 $-0.20/sh. projected
CURRENT QUARTER PROJECTION $-0.03/sh
I have no idea where they get these numbers, but I am sure that they are absurd. My guess for this quarter will be about $+0.09.
I checked four or five other web tracking/recommendation sites and they all seem to have different numbers and projections and are all a long way from reality. I guess it is harder to get a license as a dog catcher than a stock analyst???
This has got to be a big drag on the stock depending on which set of 'facts' you are looking at when reviewing the stock.
Don't know how investors think and/or what is considered safe by whom. Q3 should show production at a level of $100,000,000.00 Gross Revenue/yr.. Cost of production at maybe $50,000,000.00 at worst???
Throw in the $4,000,000.00 or so of silver sales and divide by the actual shares outstanding and you have the dollars into equity, less of course whatever taxes are applicable, and whatever the board decides to plow back for expansion.
Panama is probably safer and better protected than USA,(i.e. both the US and China have vested interests).
So those who own the stock can take the dividend or sell.
Bottom line, what is a developed company that earns +$0.50/share at current levels, or even more if it is expanded worth???
Add you own multiplier....5x,7x,10x,15x.....?????
Maybe it has not dawned on anybody besides Wells Fargo that this is now an ongoing commercial operation, with new plant and equipment that is profitable and not a speculative exploratory bunch of rock hounds.
Maybe there is some news leaking out of Vancouver, up over 6% on good volume. I cannot find anything on the web.
Canada opened at nearly $0.65 CD on good volume.
Interesting, your point is well taken. According to CNBC,13,000 shares puts you among the top ten mutual fund holders and 100,000 shares puts you among the top ten institutional holders!! That is ridiculous.
The float is above 90%. I am hoping with a good Q3 report in March and an audited annual report coming out in June, there will be some serious interest. The company could even give a small dividend at the end of the fiscal year that would attract a lot of attention.
MSN Money reported today that as of 2/02/10 a new,(to the stock), institution bought 3,500,000 shares while another institution sold 38,000. I am not sophisticated enough to figure out how to tell who the new big player is and I don't really understand why such a purchase would not have been shown in the various trading volumes we monitor. However, you can check it for yourself...it is an fyi alert on msn money. SOMEBODY IS A BELIEVER.
Go back and read post #552. Don't back up the truck until it goes below $0.30. I still think it will go to $3.00 or so this year...but with no real news until Q3 it could easily fall off the cliff for awhile as the Dow goes below 10,000 and everyone runs away from everything but the dollar. If you have the stomach hold tight for another 90 days and you will be laughing at these prices.
If the last PR could not turn it around, nothing before a good Q3 will stop the downward trend. My guess is that they not do the spin-off until after the annual report. The 25 February 2010 meeting is just to approve the plan. It is my understanding that they still have a lot of mechanical details to work out.
Won't do much...100,000 oz. Gold in 52 weeks is all this stock needs. Plus of course audited books.
There are a lot of vociferous left wing blogs all over Latin America. In Panama, Chile, Brazil, etc.. As Colin Powell used to say,"Just consider it background chatter". Many who write them are not even in the countries they blog about. PTQ has the backing of the government in power, and a good accounting company. That is all we need to know. I am anxiously waiting for audited books and Q3 report.
Glad to help...Wells Fargo Private Client Service has been right on for many years. You obviously noted they are the big institutional holder.
Go to cnbc finance. There is streaming real time there.
Read with interest your 'find'. I don't know what this guy was smoking, but about 99% of his comments are patently false and not even worth a response. Freedom of the press, I guess. These guys must have come from San Francisco!
"Submarines pop up near the Bridge of the Americas"...yah right...it is a very narrow shallow one way only channel for two miles out at sea before the bridge! Ships are lined up out at sea waiting for their turn as each shift change reverses the direction for several hours. Any sub by the bridge must have bored through straight from China. These guys have read just too many dime adventure paperbacks and take their visions from there.
In any case...such comments read by someone who has never been there could cause a poor risk rating. That is the reality as the rating is there.
Personally, I go to Panama every two or three months and have done so for many years. Working as an engineer for over 30 years, in more than 25 countries, I can tell you that Panama is in the top two or three. You can find many web sites that will show accurate reflections of the country. Google up Panama City, Panama and take a look.
Thanks for the post and search...maybe stuff like this is what caused the rating.
I noticed in your last two posts that 24hr.Gold shows Panama as a high, (4 out of possible 5), risk country. God only knows where they got that from, but it is a negative they are reporting that would affect the SP. Bar none Panama is by far the lowest risk in Latin America for instability. Don't they know the US cleaned house and took out Noriega in 1989?? Europe, China, and the USA all have vested interests in Panamanian stability. There is probably more risk in the USA.
Don't remember where, but I read that too. Hence my ST price expectation of $4.00/sh.
Guess that there is no volume because no one is making a market. Everybody has loaded up and now we just sit in a circle and stare at each other waiting for PR's. If all is accumulated, nobody will let go until Q3 and maybe not then...just waiting for a dividend...and the long ride as the gold/cash piles up and up! How do you get a stock to trade higher if no one wants to sell it??? CLOSED AT $0.6969 OR 6.4% THE DAY'S HIGH!
I can spare 30,000 @ $4.00 ea. if you are really desperate. If you need more let me know and I'll see if I can scour up some at same price. Offer is good for 24 hrs...cash only!!
I am not anxious for them to join anything just yet. Exploration may yield a lot more gold than the market anticipates. In addition, as a small company in a small country with 100% ownership they are in a good position to build a lasting relationship with the government. There is a lot of gold in Panama on public property; the government is just sitting on it waiting for the right operation. In the 1960's I saw cliff sides where the local indians only mined back as far as they could reach with their arms, and then moved on to another spot. It has taken fifty years for the right political situation to evolve.
Provided Panama is happy with their business model and environmentally sensitive development, other concessions could come their way. President Martinelli said they would be an example to the country on how to develop mineral assets in partnership with Panama. I believe that is why the company so deeply invested in social and community projects to benefit the communities in the immediate area.
A nice investment that would pay $1.00 or $2.00 per share dividend every year would be ideal. Let's hope they keep it in the family. When it lays it's first couple of golden eggs you don't sell the goose.
Maybe you should call Cramer in the 'Lightening Round'? :) If he disses it we are on our way!!! Did it not head north Friday or is my chart upside down????