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Heap leaching in Spain 500 yrs.
"Heap leaching had become a fairly sophisticated practice at least 500 years ago. GeorgiusAgricola, in his book De Re Metallica (publ. 1557)illustrates a heap leach with a 40-day leach cycle, which could pass in many ways for a modern heap leach. The Agricola heap leach recovered aluminum (actually alum) for use in the cloth dying industry. Copper heap and dump leaches in southern Spain were common by about 1700. Gold and silver heap leaching began with the first Cortez heap leach in 1669. While many projects have come and gone, Cortez is still going - their new 63,000 tonne/day South Area leach is...started up in 2002."
Here is a good place to get up to date right close by in Vancouver:
HEAP LEACH 2013 – First International Heap Leach Conference
September 23, 2013 - September 25, 2013 in Vancouver, Canada
Marriott Pinnacle Hotel
Heap Leach 2013 is a comprehensive conference that will bring a range of professionals together to present new research insights and share leading practices on heap leach projects. This conference will include the planning, design, operations, closure, and research aspects of heap leaching. Conference sessions will include presentations related to gold/silver, copper and nickel heap leaching.
Updates on abstract submission coming soon! For more information and updates visit us at www.heapleach2013.com or contact us at heapleach@infomine.com
Contact Information
InfoMine Mining Intelligence and Technology
Olga Cherepanova, Conference Manager
Suite 900, 580 Hornby Street
Canada, Vancouver
Phone: +1 604 683 2037 Ext. 312
Fax: +1 604 681 4166
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http://www.infomine.com
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In answer to question:
Calculation should be for ore that will be shipped to Panama.
When high grade ore is used up from this first exploration result you obviously would not ship low grade to Panama. Again I use low grade as relative term. Ore left in Spain will be processed possibly using several different methods of extraction.
Expectations are 5,000,000-7,000,000 ounces ultimately in Spain. (See 2010 press conference,Huelva) Huge drilling operation to be completed this quarter will yield much more ore IMO.
The open question is: How much progress will be made in Panama long before any ore from Spain arrives in FY 2015?
What relevance, even if true?
Ore may contain orange peels also, but that would not have been and issue for Red Kite. You need to bring some facts to the table if you want to be taken seriously. So far you are 0 for 2.
Those are pretty high g/t numbers.
My WAG is June 2014, or start of FY 2015 for Spanish ore production. I think processing complications will we worked out well before then, and the mill does not know if it is sitting in Panama or Spain. Not an issue on processing for us. My cost numbers are about $800.00/oz. but then again I used a much lower figure for Au g/t. I have seen 12.8g/t drilling results, but I don't expect the total mined to be that high.
In any case, it is certainly well worth doing, and profitable, with no great cap/ex needed. Ore is shipped around the world every day in every way. This is way down the road for us and there is a lot to be accomplished in Panama between now and then. Perhaps the ore will come through the new port.
I will be happy to see us reach above 100,000 AuEq. this FY, upgrade our reserves, and get that other leach pad in operation. Meanwhile, bonds continue to crumble and inflation is here. The Middle East is burning, China is buying, and India will start again in sixty days.
Today is poisoned. Time to move on....
No supporting facts anywhere...just more useless BS taking up space.
Board is quickly going the way of SH and they migrate here for fertile fields.
Just denigration of company, chairman, and BOD.
Back again with another alias.
Alias Born 07/08/2013 12:43:46 AM
In Panama such things are criminal, but in the states this is just a pain. Get a life....
Thanks for the recommendations.
Looks like my little due diligence machine will be working overtime for quite a while. Back to PTQ...
News pending:
San Telmo.
ODN.
Lata.
Mestizo.
PDI contracts.
PDI, Spin out or not.
LP NI 43-101, Inferred to M&I.
Q4/FY 2013 results.
FQM contracts.
LP update.(drilling,de-water,construction)
Portuguese pilot production.
Coast road, camp construction updates.
Foundation update.
Molejon construction.(Flotation circuit, leach pad)
Financing.
Panama exploration targets.
And probably a bunch of other stuff I just did not recall this morning. Plenty of food for thought. Time marches on...end of next week we are half way through Q1 FY 2014. Will we hit 25,000oz. this quarter?????
No question we have plenty on our plate.
Certainly there is ample room to grow internally for the next several years. I am not advocating that we over extend at this time. However, I think we will see an industry sector crash over the next 18 to 24 months and there may be great opportunities to pick up assets for future development for just a few pennies on the dollar. Just sort of a speculative conversation while we are waiting some news at the end of the summer.
Meantime, we just keep on digging, processing, and selling. The expanded volumes should go a long way to ameliorate the fall in the price of gold and we will stay profitable. That should attract continued interest. Personally, I have my eye on all those warrants at the end of the year. Especially the ones that are worth 1.3 shares each. However, there is plenty of room to grow now before we get to $1.45 or more.
I am all for careful expansion but,
there are lots of opportunities outside of Africa,(sorry to lump it all together), for I fear, religious, ethnic, tribal, wars will continue to destabilize the continent, even into its northwestern edges, in the coming years. With the 700+ juniors caving this next year or so, there will be ample opportunities in very safe stable countries to pick up cheap gold reserves. Nigeria for example used to be a very good place to invest, but as you see in today's news Boko Haram is burning children alive.
I am sure you are aware that there are many more opportunities where we are now located. i.e. Panama, Spain, and Portugal. We may see news from one of these sooner than you think! Many are still seeking that huge copper deposit just down the road in Panama. With the right relationship with the Comarca/Catholic Church/Panamanian Government I believe that rich area will come under development. It is just a question of cutting the pie appropriately. I think also there are opportunities in the Philippines where the climate is similar to Panama and Spanish is the language. I know there is money to be made in Africa, but I am not sure it is the place for us. For interim let's see how all the news breaking before the end of August affects us in the market place. Short term...keep your powder dry!!
It was just too obvious. LOL.
But, let's give her a break. She may be a positive contributor!!
As long as posts are backed by evidence, good or bad, that is what we need.
Posting news in a bad market.
Some call for posting news constantly even in a poor market. In my experience this has less effect than good news in a growing market, where it has the opportunity to actually stimulate the stock. Reading the TSX rules that were posted for all shows exactly why certain PR's are required and issued. Their content is of course monitored and approved by the respective authorities. In a competitive industry one must keep options open, and not disclose what should be strategy and competitive advantage. Just make the required filings and go about building the business.
Again this goes back to what shareholders, particularly small ones that have no influence or ability to affect the company, actually need to know. Large potential investors generally are well informed whether it is from communication, expertise, or due diligence. Management should be judged on things that they can control. Company specific growth in fundamental value and stockholders equity on the Balance Sheet. Macro market movements are a whole different ball game.
The five year plan for growth and expansion is very complete, and well developed by experts in the field. There is no reason to share it with the broader market. Our cash position is far better than many in the industry, and is improving thanks to the non-mining diversity of our company. If the large shareholders are happy, Ernst&Young is happy, why should be take a negative stance?
Another interesting facet of our program that gets little attention here, is our acquisition arm. They are very busy, and there are more opportunities everyday. Now that we have settled on who does what in the Corporate Structure, and the jobs that they actually hold, perhaps time would be better spent looking into our future over the next three to five years. That is the job of the the Chairman and Executive committees not running the day to day, month to month operations. We have seasoned veterans, well experience and qualified in place for years to do those jobs.
You will see an improvement FY 2014.
Without talking out of school, I think you will see and improvement in the A/P situation in the coming year. While it may be hard to obtain the answers you seek, I believe that a lot of the accounts are entwined within the Panamanian interested parties, and not really any threat to the companies ongoing operations. Sort of owing yourself so to speak. A lot is held very close to the vest.
I simply let it lie, and rely upon the good offices of Ernst&Young to make sure we can continue ongoing operations.
I am very curious about the impact on our share price of the pending movement of over 1,000,000oz. AuEq from Inferred reserves to Measured & Indicated reserves. Behre Dolbear has had the twin drilling data since mid-February and soon we should see the new NI 43-101. We should now be about six or seven months from getting the first samples of that ore to Panama. My understanding is that the g/t numbers look very good.
Good links DigiTech.
I hope you are not expecting 'your buddy' to actual read, much less comprehend, them...easier to just sit on the couch and throw rocks, year after year, after year...somethings just 'are' and will never change despite your good faith efforts. Heard from management that preliminary numbers will be out this summer before the audited books are filed. June production was as planned.
Richard has no need for money.
His gross income from all areas is millions of dollars a year.
However, a place on the BOD of FQM would be attractive and continue his legacy. Also, it would be much less burdensome. Pascalls made a promise to the Panamanian Government to work with PTQ as opposed to the HT/takeover approach of Inmet. If something does develop I imagine PTQ will remain as it is a very good vehicle for FCF into large Panamanian equity holders for many years. In any case, large stockholders, including management that itself has direct and indirect ownership of above 25%, will be protected. There has been rumored before about a small cash payment to PTQ stockholders, combined with some sort of warrant to be used after FQM is in production in 2016,when cap/ex is over and money is flowing. This would probably pass muster with a majority of stockholders for many reasons, not the least of which is tax implications. FQM likes to do its engineering in house, but has pledged to work with local businesses in Panama for the actual work. This is similar to their pattern world wide. There is really no advantage to discard the PTQ brand. Interesting topic, thanks for passing the rumor along.
At least this is better to speculate about during the doldrums, than one man's definition of mid-tier vs. another's!! LOL.
DigiTech could have added...
Richard Fifer is the son of Richard Glen Fifer Witte (son of Anne Witte and Elzy Fifer)and a Panamanian mother, Celina Carles Montenegro (daughter of Celina Isabel Montenegro and Jorge Isaac Carles). Do you know who these people were in Panama?
He attended primary school at St. Mary’s School, transferred in 9th grade to Curundu Junior High and completed in 1974 his High School education In Balboa High School.
After completing his elementary studies, Richard Fifer-Carles concluded his Bachelor of Science degree at the University of Utah. He is also participated in the Geophysical Engineering program Rice University and took advanced Finance studies at Tulane University.
As President and CEO of Petaquilla Minerals Ltd, Fifer has been involved in the mining project since its commencement.
In 1993, he was appointed Governor of the Province of Cocle during the presidency of Mireya Moscoso. While under the Ministry of Foreign Affairs Panama, he was also the President's Plenipotentiary Ambassador-at-large from March 2002 to September 2003. He later returned to the mining industry as President and Chairman of CODEMIN (Corporación de Desarrollo Minero), Panama's State Mining Company. He also assumed the role National Security Advisor to the President of Panama from 1999 to 2002.
Fifer is the founder of Grupo GEO formed by seven companies that provided services and products to diverse industries, such as Oil, Aviation, Mining, Reforestation, and Technology. He is also currently chairman and CEO of another enterprise, Geoinfo International, S. A., a company that operates in Panama through its affiliated company, Geoinfo, S. A., founded in 1992. Its main activities are the development of mapping technologies, the integration of Geographic Information Systems and business intelligence consulting in the Republic of Panama.
Fifer created the Castilla Del Oro Foundation which promotes sustainable development of rural communities in the central provinces in Panama. It aims to promote projects and provide structures that will turn the region into a cultural tourism destination.
Fifer was honored with the title Caballero de Guadalupe in October 2011.He is a personal friend of Don Cristobal Colon de Carvajal our newest member of the BOD, who joined at Richard's invitation.
As Richard is an alumnus with my son from Tulane's AB Freeman,(my son holds a BSM and LLM from Tulane), and as one who has been associated with PTQ since its inception, with our family in Panama since 1541, I can assure you that you are misinformed.
I AM SURE HE IS QUIVERING IN HIS BOOTS AT THIS REVELATION FROM "PROGRAFA" WHO WAS BORN ON APRIL 17, 2013, CLAIMS TO CONTROL 500,000++ SHARES AND HAS 22 POSTS ON I-HOP!!! YOUR REVELATION WILL SURELY BE THE HOT TOPIC AT THE COFFEE MACHINE IN PENONOME THIS MORNING. ANOTHER POISON POST ON THE BOARD!!!!!
IN GOD WE TRUST, OTHERS BRING FACTS!!!
Jff7 I set up these snipes to watch.
Point is, that most here believe it is more important to pick at anyone bringing information to the board, than to actually do some DD and contribute. If your definition is not the same as mine, you are a liar!!! ETC., ETC.. Always the snipe, never analysis, never research, never news, never anything useful. Just sit back an criticize from A to Z whatever the source, germane or not. Never visit the mines, never go to a conference, never educate oneself, never talk to management, never talk to industry leaders, never talk to large investors...and on, and on.....think maybe there is an underlying pattern, or plan to discredit the company and poison anyone who might actually dare to invest a few dollars. Words of a bitter loser, nothing more.
The last thing I would ever do is base a significant decision on what one reads on an anonymous board. However they can be useful to trigger further interest. Usually, I am reluctant to even meet anyone who has not been properly introduced, by a third party I know and trust. (I will say however, I have, in fact, made some really worthwhile friends of substance over the many years on this board.) So bottom line, it is free entertainment and a very useful tool in teaching my grandchildren how to judge and profile people by their reactions to the written word. Useful tool in a difficult world. And it is sort of fun too, in a perverse sort of way!!
As VB likes to say...the caravan moves on to its destination, and the barking of the little dogs is left behind in the dust.
WE ARE MID-TIER! OR WE WILL BE MID-TIER! MID-TIER OR DEATH!!!! ANY IDEA HOW MANY MID-TIER GUYS ARE NOW LOSING MONEY WITH THE DROP IN THE PRICE OF GOLD??? OMG!!! HOW IS THAT POSSIBLE???LOL!!
Whatever...here is the link for you.
Junior miners | junior gold companies | junior mining | canadian ...
Juniorminers.com set out to find what the definition of what a Junior Miner was.
So we contacted the ... There is another category: mid-tier producers. These are ...
www.juniorminers.com/companies.html
Perfect example of what is called "poisoning a board". If you don't like this definition then find one that suits you. I'm sure this means a lot to the company. When you call somebody a liar for trying to provide information, it really discourages people and makes it obvious this board is a waste of time.
I didn't make it up; I just copied it for clarification and to prove that our new poster was not a liar, as he was quickly deemed to be by the board troll. PMC/lite!!
Do you really think this whole thread is important to the market or the company?? You then really need to get a life....by the way drop a dime and confirm with PDAC that the article is genuine. LOL! Bunch of fools....very little ones at that!
PDAC definition, mid-tier! LOL!!
Here you are, directly from the Prospectors and Developers Association of Canada this morning:
Mining companies are defined largely by the way in which they derive their revenues. A senior producer or operator generates its revenues from the production and sale of the commodity it is mining. A junior mining company has no mining operations and is essentially a venture capital company. It must rely almost entirely on the capital markets to finance its exploration activities [I say "almost entirely" because some juniors derive their financing from private sources]. There is another category: mid-tier producers. These are generally junior companies that have decided to go into production on properties that they have discovered.
It would seem to me that PTQ is definitely a mid-tier company, by the definition of this third party PDAC standard. Most educated people have accepted this definition for years. What is untruthful about his statement???
In God We Trust! Others please bring facts!!! PDAC imprimatur is enough for most. Ratherbefishin, after a while you learn to just ignore him...."Why not be truthful first?", most think he is just PMC from SH.
No question we are well positioned.
With the LME now placing a 100 day delay in deliveries, the world is drawn like a screaming little child into the realization that there is a finite amount of gold. Always in the 'boiler plate' is language that they can stop or delay delivery. If you don't have it in your ore reserves, or in bullion in your hands, you have no gold, but only a piece of paper 'with a promise'.
Management has done a fantastic job over the last ten years bringing our company from just a dream and selling for $0.02-$0.03 per share to where we are today, on the cusp of becoming a mid-tier producer that has turned in ten consecutive profitable quarters. That the retail markets have not caught on to who, what, and where we are, is their loss not ours.
The large drilling project in Spain comes to an end in about sixty days and exploration costs there will drop accordingly. We can defer an all out assault on San Telmo if necessary. Our production is expanding and our costs are near the lowest in the industry. On top of that our diversification with PDI brings hundreds of millions of dollars into the company. Panama, Portugal, and Spain are all on board with our future plans.
People who moan and scream about our management and share price fail to realize that our stock is so thinly traded that only 1% is traded daily. That of course tells you that those who hold the majority, are holding tight, and well aware of the future. Our major stockholders outside of the company founders and their families: Sprott Asset Management, U.S Global Investors, Vertex One Asset Management, GAMCO Gold Fund, Dimensional Fund Advisors, Black Rock Investment Management. Isn't it obvious these people have done their homework and research, and chosen to place their investments with us?
Welcome newcomers to the board. Do not let those who denigrate our company regularly sway your confidence? Those who hold the 99% of the shares that do not trade back and forth daily are in very good company. The rest do not matter. I do not know much about the effect of positive thoughts on the share price...but I do know a lot about the effect positive, sustaining, fundamental performance will have on our future. Browse the data and photos in the I-Box if you have any doubts.
PETAQUILLA ES PANAMA!!
IF ANYONE CAN SHOW ME A BETTER OPPORTUNITY THAN OURS WITH A FORWARD PE RATIO OF LESS THAN 2.0, PLEASE POST IT HERE!!!
Dear moderator:
Inasmuch as a lot of new people are coming onto this site per your invitation, I might suggest that, when you have time, you review the text in the IH introduction. There is a lot of information that is either outdated or actually wrong. I am sure that you are on top of things and will spot the inaccuracies and errors immediately if you read the information provided therein. It will be nice to see some informative analysis brought to the board by the new members.
Good Luck!
JFF7 concern about my success is touching!
Lets make it real simple...when the stock was at $0.025 to $0.040 and I told the whole world to buy, those that did are probably still happy. If you want to do an exercise to feel better... go back to the beginning and make equal monthly investments. Whenever the stock is under $1.00, since the sale of the copper, double the amount, when it is under $0.50 triple the number each month. Very simple, very effective, and doesn't require much effort. You can figure the results yourself and that does not take into account any selling for tax purposes on specific wash sale periods during the summers. Petaquilla is for the future and the future looks pretty good from here.
So don't worry about me...Petaquilla is just a part of the puzzle and things are fine. As I posted when I left town for a while, I went to the States to buy my son an airplane for his birthday. No money invested in Petaquilla was used. Things are great in Panama! Business and profits are booming.
Tomorrow is a very big day as you must be aware! Did you notice the metrics for the last four years: During my good friend's tenure, and he is supported by 54% of Panamanians in mid-June, economic activity has had a positive impact on unemployment and poverty, with indices between 2009 and 2012 unemployment fell from 6.6 to 4% and poverty fell from 33.4% to 25.8%, respectively. In terms of its debt ratio to GDP fell from 45.41% in 2009 to 39.35% in 2012. Tell me, how does that compare to the USA over the last four years?
If you are serious about investing then now is the time to purchase FQM on a regular basis. It is definitely a bargain at these prices while copper is down.
PETAQUILLA ES PANAMA!! And life is very, very good!
LOL!!!Sorry guys confidential is that...
Watch closely next week!!! Sorry I hit a nerve saying a little too much, but your life is what it is.
As to your insults about "phantom meetings", you obviously do not attend any of the conferences held all over the world, nor attend any of the receptions, and invitation only meetings associated with them. There are often published invitations on our web site and in the media. Don't criticize informed, involved, investors just because you chose not to participate.
"so that's a mute point too"
"I could care less about what the Insiders supposedly know or closer to the truth DON'T KNOW."
Memo to self: Need to look up definition of mute, insider, informed.
Inside information is illegal to disseminate or trade upon.
Information obtained and information provided at seminars, conferences, public forums, etc., talking with serious, educated, stockholders is usually useful fodder for public board. There is a lot of news, very important to us, coming out of the east. That is what moved our share price Friday.
Like I said.
My comment perhaps could have been better couched, but I was addressing others that post here and are informed.
I should not have mentioned anything and just kept the information to myself. I doubt that anyone was influenced to go out and buy or sell 50,000 shares Monday morning. So I just need to keep closer counsel. Some things are better communicated on a 'need-to-know-basis'. All I did was pique your interest about the meeting and not the facts, and generate another insult from Jal. Seems like I never learn in spite of the advice I am given.
You are pretty close to understanding.
If you read more analytical work, by those who study these matters and are well educated, it will help you to understand. As the sector deteriorates there is a strong current that washes away value for everyone. (Baby out with the bath water, if you will.) Even great fundamental improvements cannot win against the outgoing tide. When the tide or current turns, investors will venture back into the sector, but without the blind enthusiasm with which they were investing with gold at record levels.
They will pick and chose carefully as they tepidly move back into the sector. They will look very carefully at the companies where they put their money. With our great potential, good management, and profitability, they will invest in companies such as ours, and those companies will out perform the GDXJ. The GDXJ's seventy odd companies are not all as sound or attractive as ours. That ameliorates the ability of the sector to advance, and some of the companies may even fail. This affects the performance metric of the GDXJ.
I am sorry this is difficult for you to understand, but that is how the system works. Those who do not accumulate more shares during times such as this, when the opportunity presents itself, are doomed to mediocre performance and miss great opportunities. But, without people of that vein, it would be much more difficult for those who understand the metrics, to make great returns on their investments. So we do owe you a debt.
As to your insults about "phantom meetings", you obviously do not attend any of the conferences held all over the world, nor attend any of the receptions, and invitation only meetings associated with them. There are often published invitations on our web site and in the media. Don't criticize informed, involved, investors just because you chose not to participate.
No offense taken.
One does not disclose invitation only closed door meeting specifics in the business world. I was attempting to explain what was most probably behind the interest in our company. The naive question and petulant response just shows you are either very young or very inexperienced in the business world. Neither of these are a fault, just facts. Your attitude only closes the door to more useful information, and that is a loss for all posters. My comment perhaps could have been better couched, but I was addressing others that post here and are informed.
The one I bothered to attend, as DD.
Beware The Gold Miners Bounce
ACTUALLY OUR MOVE TODAY WAS VERY COMPANY SPECIFIC AS WERE THE MOVES IN GDXJ! WE WERE UP SUBSTANTIALLY MORE THAN THE INDEX, PARTICULARLY IN GERMANY WERE INVESTORS ARE MORE SERIOUS. SOME STOCKS IN GDXJ WERE UP AS WE, WHILE OTHERS WERE OFF UP TO 25% TODAY. THAT IS CERTAINLY AN INDICATION OF COMPANY SPECIFIC ACTIVITY. OUR RECENT SERIES OF MEETINGS, ON THREE CONTINENTS, PRODUCED A LOT OF COMPANY SPECIFIC INQUIRIES AND INTEREST. IF YOU BOTHERED TO GO AND PARTICIPATE, YOU WOULD KNOW THIS. THERE IS NO QUESTION THAT WHEN MONEY RETURNS TO THE "SECTOR" INVESTORS WILL BE VERY PARTICULAR AND DO IN-DEPTH RESEARCH BEFORE INVESTING. THE TRUTH IS THAT VERY SPECIFIC COMPANY REASONS ARE WHY WE WILL PROGRESS IN OUR SHARE PRICE OVER THE NEXT FEW YEARS. WE MAY HAVE BEEN BROUGHT LOWER DUE TO SECTOR DETERIORATION, INASMUCH AS OUR FUNDAMENTALS HAVE BEEN IMPROVING STEADILY, BUT THE REBOUND WILL NOT LIFT ALL BOATS AND ONLY THOSE WITH COMPETENT MANAGEMENT AT THE HELM, AND REAL OPPORTUNITIES TO GROW WITH BENEFIT. TO BELIEVE OTHERWISE IS NAIVE AND IGNORANT.
"This is how bad things have been for gold mining ETFs in the second quarter: The group’s largest fund, the Market Vectors Gold Miners ETF (GDX), is up 7.1% on above-average volume Friday and even with that, the fund will a loss of more than 30%.
Some of the other mining ETFs that were taken to the woodshed in the second quarter, such as the Market Vectors Junior Gold Miners ETF (GDXJ) and the Global X Silver Miners ETF (SIL) , are also enjoying fantastic Friday performances. However, investors should be cautious because these bounces may be of the dead-cat variety. [Miner ETFs Take a Header]
Barrick (ABX) is trying to sell assets to raise cash and that comes after the company sold $3 billion worth of bonds in April. The company had $12.5 billion of net debt as of March 31, report Liezel Hilll and Cecil Gutscher for Bloomberg.
Gold Fields (GFI) told Bloomberg the “industry is not sustainable at $1,230 an ounce” while adding “We’re going to need at least $1,500 an ounce to sustain this industry in any reasonable form.”
Bloomberg notes that corporate bonds from miners such as Barrick, Goldcorp (GG) and Kinross (KGC) have been trading like junk bonds although those companies have investment-grade ratings. Along with Goldfields, those stocks represent about a third of GDX’s weight. [Gold Miner ETFs Eye 2008 Lows]
Miners being at risk of only breaking even, or worse, losing money on production comes as the industry has been under pressure to be more transparent about its output costs. Earlier this week, the World Gold Council released new guidelines that will force miners to reveal to shareholders a more telling picture about production costs.
A lack of uniformity in terms of reporting costs has scared some investors away from the sector. For example, gold miner ABC Inc. may report net cash costs while miner XYZ Corp. may only report costs related to realized sales.
The World Gold Council wants miners to report “all in” costs, which include a wider range of factors such as permitting fees, royalties and related fare.
When gold prices were soaring, miners were not under as much pressure to reveal their true costs of doing business. Now with gold clinging to $1,200 an ounce and production costs for many miners believed to be in the $1,100 to $1,200 an ounce range, share price declines are revealing miners’ costs whether the companies like it or not."
GDXJ doing well, funds want miners in EOQ reports.
They apparently liked the presentation,(Spain-Seville). Glad they chose us along with the others. Bear Creek Mining (BCM), up about 23.8% and shares of Colossus Minerals (CSI), up about 18.8% on the day. Congratulations to our IR team, your efforts this spring are
bearing fruit!
As they told us at the meeting...
in Europe, they would step in at the end of June,...welcome to our new major stockholder! These shares are going in very, very strong hands. Nice to know the plan and understand exactly what is happening and why. We will drift back some...it is very hard to make a major investment in such a little company that is so thinly traded and not bump the share price. Salud!!
Missed another one!!! LOL!!!
investor20501 Member Profile investor20501
Thursday, June 20, 2013 10:41:02 AM
Re: None
Post # of 20761
"Hey mjkii,
time to buy more. gold heading to 1200/1200. PTQ is about to break major support level at .30.
HUGE BUYING OPPORTUNITY!!!
loool"
STUPID IS AS STUPID DOES!!!!
HEY, EOM!! GLAD YOU SAW THIS ALSO, HOPE YOU MADE SOME QUICK MONEY!! GOOD LUCK TO YOU!!!
34% IN SIX TRADING DAYS IS CERTAINLY A FINE OPPORTUNITY TO MAKE SOME SHORT TERM MONEY IF YOU ARE A TRADER!!
eom7 Member Level
Thursday, June 20, 2013 10:57:01 AM
Re: investor20501 post# 20725
Post # of 20762
"Agreed... this is a HUGE buying opportunity. Thank you."
Threatening assault is absurd!
"Buuuuuuuuuuuuuuuuuzzzzzzzzzzzzzzzzzzzzzzzz
SWAT !"
In competition with PTQ for resources?
Like a PHOENIX, CMR appears again...thoughts, comments?
From Geoffery Hall, Chairman.
"I am delighted to report that it has been officially announced by the Provincial Mining Authorities in Sevilla and Huelva, Spain that a highly significant mining permit to exploit metal resources at Masa Valverde in Western Andalucia has been awarded to Cambridge Mineria Espana SL, a wholly owned subsidiary of Cambridge Mineral Resources Plc. A company press release has been posted elsewhere on this website, giving further details of the awarded permit.
The award of this permit is the culmination of many months of hard work by the executive directors of CMR, and as chairman and on behalf of shareholders I thank them warmly for their intense efforts. Senor Navalon has carried out very important work, establishing a visible and positive presence for CMR in Spain; Michael Burton and Mark Slater have worked tirelessly to enable CMR to step up and exploit this new opportunity.
In the near term CMR will seek to fund the initial work on the permit by signing a Joint Venture Agreement with an International Mining Major. who would finance the first exploration phase on Masa Valverde and thereby earn-in to a share of the project. This is a commonly used source of funding for junior mining companies, and will allow Cambridge to prepare itself for the future. The company will be identifying further additional mining projects in the Masa Valverde region and will seek to expand operations thereby creating a regional mining business with a wide range of metal resource and a balanced future cash flow profile.
CMR will be undertaking a minor fund raising programme immediately to finance the company’s expenses over the next few months, and In order to pay our way in the later stages of the Masa Valverde project, CMR will need to consider a more substantial fund raise. This may include an IPO and a return to the markets, or there may be alternative ways forward. The Masa Valverde project is going to transform CMR into an active mining company once again."
Cambridge Mineral Resources plc
21 June 2013
ACQUISITION OF LARGE BASE-METAL RESOURCE AT MASA
VALVERDE, SPAIN
Cambridge Mineral Resources plc (“CMR” or “the Comp
any”), the mining exploration and development company, is pleased to announce that it has been informed by the Provincial Mining
Authorities of the Junta de Andalucía in Spain that the Company’s wholly-owned Spanish subsidiary Cambridge Mineria Espana SL is the successful applicant for mineral exploration permits on the Masa Valverde polymetallic volcanic-hosted massive sulphide deposit located in the central part of the Iberian Pyrite Belt in south-eastern Spain.
The acquisition of Masa Valverde adds a very significant resource to CMR’s asset base. The deposit of massive sulphide, semi-massive sulphide and cupriferous stockwork has a global
resource estimated at over 75 million tonnes of ore.
A preliminary resource model developed by CMR technical staff has enabled the following JORC inferred resources to be made:
Cut-off
Tonnage
Cu %
Pb %
Zn %
Ag g/t
Au g/t
S %
Zn 3% 11.95 m/t 0.57 1.28 4.30 41.9 0.86 46.47
Cu 0.5% 79.95 m/t 0.76 0.38 1.28 22.4 0.43 35.44
Au 1g/t 16.17 m/t 0.45 0.86 1.49 46.1 1.26 47.38
NO COMMENTS ABOUT NEW CORP. PRES. TODAY?
Lots of DD efforts. How about all the news stories in the Huelva press today? Loji, they are even talking about CMR back in the saddle over there and competing with us. Doesn't anyone pay any attention to anything that is happening????LOL!!!!
What about the new Fact Sheet being taken down today??? No Comments?? No one noticed??
SEDAR filings???
I guess most have sold and moved on....
Oh well, wanted 4 to 1, buy 3.45 will be OK.
Lots of good opportunity today, numbers out by end of next week! All those $1.00 shares could have been averaged down to just $0.45 today with an equal investment! Probably better to be green at $0.45 than at $1.00! You think? DUH!!! Hard to believe that there are too many trolls out there now who are not green at around $0.60.
Rumor has it that there is one poster who actually is sitting on shares at $1.00+ and has never purchased any more. Probably not true, no one is that stupid with the fundamental improvements were are showing every quarter. Thought we might catch a further break, but it looks like our downside risk is just about exhausted. Maybe four trading days left....
End of the day and end of accumulation...lets push it back up to green and await tomorrows opportunity...this is just too easy!
I don't care when either.
I was just speculating when it might happen. My guess is around 2016 actually. In the mean time, it is entertaining to watch all of the machinations. I have been buying PTQ consistently since it was $0.03-$0.04. I am a little in the red right now, but that means nothing. Our trading volumes and stock price show that the numbers are totally disconnected from real value. The total disaster that was the HT by Inmet speaks volumes about what those who control our destiny think about the company. Just like FQM we are in extremely strong hands.
Not expecting to sell any stock for many years, if ever. The mining sector in Panama has a great future, and now we have a strong foothold in Iberia also. There will be more acquisitions down the road as junior miners collapse. With a steady investment program, this is a good company to just put on the shelf for another decade. It will grow slowly like an oak from a very little acorn.
In the meantime, it would be nice to see those shares selling at four or five for a buck!
I think you have a handle on it.
The only question is when? 2014, 2015, 2016. If you own things that are real, whether it is a pile of rocks, a pile of silver and gold, land, or water, you will be fine as long as you own it, and can protect it. Deflation or inflation, you can just ride the storm well and watch the chaos from the sidelines.
Public ignorance rules. $0.10/share opportunity.
Yes, QE is ending. Yes, inflation will come after initial deflation. Yes, the deficit will increase. Yes, borrowing costs will go up. Goldman Sachs just called a bottom for gold at a little over $1,000/oz. for 2014. Yes, Petaquilla's fundamentals are improving. Yes, you will be able to buy PTQMF for under ten cents, before the summer is over.
Just relax and average down when you can...this will be a mostly down roller coaster for a couple of years. This is getting all just too boring...be nice to get some ten for a buck shares...thought those days were over...life is good!! Buying steadily and piece of pie is growing nicely. Happy Camper!!!
Gold Price Headed to Pre-QE Days: Credit Suisse
As the sell-off in gold continued into Monday morning, analysts told CNBC that investors need to re-examine their expectations of the gold market and that prices are likely to fall to levels before the Federal Reserve opted for unlimited bond-buying.
"You need to re-examine your expectations for the gold market if you're long - you need to stop thinking in terms of crisis and start thinking about where gold was pre-crisis," Tom Kendall, director and head of precious metals research at Credit Suisse, told CNBC on Monday.
Spot gold (Exchange:XAU=) had declined 0.76 percent to $1,282.20 an ounce on Monday morning after hitting a near-three year low of $1,268.89 last week , marking the precious metal's worst weekly performance since September 2011.
"And if you go back just three and a half years, before we got into QE2 and unlimited easing , gold was trading $1,100 or $1,150 an ounce," Kendall added. Gold prices have declined 23 percent this year, a decline Kendall attributed to the removal of market fear factors that previously made gold an attractive asset.
Bullion suffered a heavy and historic two-day sell-off in April on worries about central banks selling their gold reserves. In all, bullion has declined more than 30 percent since its peak of around $1,900 in 2011.
"This is [not] the place where you step in and say 'this is the bottom for gold.' What we've been seeing is a lot of fear removed from the markets over the last two or three years, whether that's fear of inflation, which hasn't appeared from anywhere in the developed world, or fear of the break-up of the euro zone."
"A lot of those fears have been lessened and that means less reason to hold gold, particularly at a time when real interest rates are rising back into positive [real yields]."
Kendall added that even at $1,300 an ounce gold would be expensive relative to its market history and other assets.
As gold has lost its luster, retail investors who had piled into the commodity via popular exchange traded funds (ETFs) in recent years have been selling out.
"[ETF selling] gives you a reflection of what institutional investors and what all other investors are doing, it's a very visible expression of more broad-based investor liquidation of gold and I don't think it's completed."
Gold bulls have pointed out that the sharp drop in prices had prompted a surge in buying of physical gold in Asia as consumers looked for bargains.
But Kendall said that physical buying had "tailed off quite significantly" and that the investors in Asia who had bought in April are now "sitting in positions that are out of the money."
Investments banks have been cutting their gold forecasts in recent months. Last week, UBS trimmed its 2013 gold price forecast by 10 percent, and on Monday, Goldman cut its 2013 forecast to $1,300 from $1,435.
"While a continuation of the re-pricing of Fed policies across assets seems the path of least resistance and would push gold prices lower, the magnitude of this re-pricing has been significant and assumes an earlier tapering of QE3 and hike in the Fed fund rate than our economists expect," Damien Courvalin and Jeffrey Currie from Goldman said in a note on Monday.
"Medium term, we expect that gold prices will decline further given our U.S. economists' forecast for improving economic activity and a less accommodative monetary policy stance."
This Could Last Decades
Roger Knightingale, chief economist at RDN Associates, said the decline in gold could last for decades.
"I think this won't go on for a couple of quarters and not even for a couple of years, I think it might go on for as long as the bull trend lasted, in other words, a couple of decades," he told CNBC Europe's "Squawk Box".
Knightingale said although there was potential for gold to be boosted by potential liquidity injections from central banks in Europe and China, buying commodities should be at the bottom of an investor's list.
"I think commodities will tend to be at the bottom of that list. You'll look at the world economy and see it's in desperate straits and they'll say this is not the time for commodities."
Yes! Indeed! $0.25 coming soon!
I remember when this stock was $0.03 and $0.04!!! Pretty soon there may be serious money to be made here. Bring down that average cost!
2 yr.chrt: PTQ (53.85%), GDXJ (72.58%)
That says it all. Obviously everything is oversold and the buying opportunity continues into the future. Those unable to see it deserve what they find at the end of the tunnel. Sell and move on...don't blame the company...