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OK, let us recap the day...
Gold up nicely almost reaching $1,400.00oz., currently $1,392.10oz..
GDXJ up 7.74%
GDX up 6.22%
PTQ up 7.00%
P7Z up 2.80%
Zacks update target $1.20 in six months or up 300%.
New Fact Sheet posted on company web site.
Tomorrow at 5:00PM the first slug of warrants expire.
Production is up, it is raining like crazy, and life is good. Will be gone for a little while, must go to Arizona to check on son's new plane. I know y'all will really miss me...especially my analysis on future SP movements. Never mind the price, just keep on buying! Maybe I can sneak up on Loji in Tucson!
Can you "free fall" up too??
investor20501 investor20501
Friday, May 17, 2013 9:34:51 AM
Re: investor20501 post# 20512
Post # of 20557
0,295.
SUPPORT BROKEN
FREE FALL NOW!!!!!!! next target is somewhere in the no where
say again thank you to mjkii
We seem to be going the wrong direction 20501??? I thought "Free Fall" to nowhere was down??
Just please stay under $0.40 until June 5th!!
Yes indeed!!! Thanks!
Maybe we get rid of 5,890,672!!!!
June 1, 2013
1,080,672 @$0.40
May 21, 2013 (2)
3,964,000 @$0.65
June 4, 2013 (2)
846,000 @$0.65
This is so strange??
"No news no nothing. Off course POG down but..."
I am so confused!!! I thought Zacks issued and update on Petaquilla early this morning calling for $1.20 in six months. Adjust down from $1.25?????
My computer shows the POG going up nicely today??? Progafa! Where are you getting your news??? Please share with us who are just lost......
"No news no nothing. Off course POG down but..."????
Live 24 hours gold chart [Kitco Inc.] shows POG up very strongly almost to $1,400.00/oz.. Is their spot chart wrong??? So many people rely on it for latest prices!!!
LOL!!! Canada Day!!!!
Now that is definitely agenda driven. Fantasy trades....is that like fantasy football??? It is REALLY hard to trade 900,000 shares early and be down 7% with the market closed!!!
"900 k volume very early in PTQ CAD. 3 times the avg daily volume just to start the day. 7% down."
THIS MUST BE WAY ABOVE MY PAY GRADE. I DON'T EVEN UNDERSTAND...GUESS THAT MAKES ME CLUELESS!!!
Recent Quotes Symbol Price Change % Chg Chart
GDXJ
10.92 +0.46 +4.40% GDXJ
GDXJ
P7Z.F
0.22 +0.006 +2.80% P7Z.F
P7Z.F
PTQMF
0.30 +0.01 +2.88% PTQMF
PTQMF
GDX
27.48 +1.10 +4.17% GDX
My computer must be broken!!! I show everything up where markets are open. Hmmmm....must be a virus of something!!!
POG SEEMS TO BE UP ABOUT $8.30 TOO!! MAYBE I HAVE CHART UPSIDE DOWN???
Loji,not sure if it is germane, but..
Seems like Behre Dolbear has a spread sheet, back in a report in 2010 I believe it was, wherein the included every cost associated with Molejon. I remember it even included the cost and insurance of the monthly dore shipment to Canada. I don't have the inclination to go back and look for it, but I would think the numbers could be fumbled to get a decent idea of our total costs. I think I heard someone say at a meeting that they were never expected to exceed $775.00 for the Spanish gold and I think that a $700.00 total cost would be pretty safe for the whole operation. While we have huge exploration costs we do not have the overhead that many larger operations carry.
We have too much current debt, but that is coming down. I am really not paying any attention to this unless gold drops below $1,100.00oz. which I don't foresee. After these warrants expire between now and June 4th, it will be interesting to see if our share price actually moves up over the summer. There is definitely more good news on the fundamental front in the pipeline. We are a much better positioned company than back when our shares were over $1.30.00. Such is life....
Thanks advice. Really expect gold to drop?
Actually, my son unexpectedly decided to buy another sport plane yesterday, and made a formal offer on one in Arizona,USA. Now we have to make a space in the hanger at Albrook. It will be nice when the new International Airport in Rio Hato opens in September, since
that is much more convenient for us, and is near the beaches.
I was just kidding about selling stuff. We have a good enough normal FCF to take care of PTQ opportunities. Seriously, I think we are at a bottom here and expect us to begin improving the SP in June. But then, I am usually wrong. That is why we believe in dollar averaging and consistent buying over time. The goal is not to sell for a profit, but to participate in the development of the Panamanian mining sector for many years.
Have a nice weekend...
Well spoken VBgood.
As I am sure you are aware English is not even in the top two languages spoken throughout the world and many learn it as a second or third language. To have one, who is barely fluent in his native tongue, criticize someone who is obviously better educated, and who is making the effort to communicate with someone less educated, then criticized because of language usage is extremely embarrassing to all of us.
To germaninvestor: Thank you for sharing your insights with the board. I know you have recently traveled to each of our projects, talked with our leaders, and expended large personal sums to get your due diligence correct.
Bitte akzeptieren Sie meine Entschuldigung und haben auch einen guten Abend.
Free fall was from $0.295 TSX to $0.295??
0,295.
SUPPORT BROKEN
FREE FALL NOW!!!!!!! next target is somewhere in the no where
say again thank you to mjkii
Somehow I did not feel that fall??? Thank you for selling me lots of shares today at $0.29. I wanted four for a buck, but you take what the market will give you. This has been a great week for accumulation and now we have a three day weekend to celebrate.
Life is good and "Petaquilla es Panama!!"
Drop in Germany continues.
PETAQUILLA MINERALS (P7Z.F)
-Frankfurt
0.2140 Down 0.0420(16.41%) 10:07AM EDT
That is about $0.27 in USD. Looks like my prediction of $0.25 was pretty close since we were in the $0.44 USD range when I first made it. Maybe that improves my predictive average a little. LOL. The other prognosticator says we are in "FREE FALL NOW!!!!!!!!!" whatever number that means.
"0,295.
SUPPORT BROKEN
FREE FALL NOW!!!!!!! next target is somewhere in the no where
say again thank you to mjkii"
Guess he means it is a good time to sell with the implication that the company is going, "somewhere in the no where...". There must be a lot of DD and hard analysis behind this to make such a definitive declaration. If I were you, I would listen to him. He must make the Spain, Portugal, Canada, Panama route every month and be on top of the actual situation. OMG...maybe we are going to $0.20!!!
Hi, gabbs, Nothing related to company.
All the news out of Panama, Portugal, and Spain is good. Even at 1,000,000 shares per day that is only 0.5% of OS and really not much money. Lots of small sellers. Can't find too many places to put money where the PE Ratio is so low and where there is great growth and expansion. Now I guess all the little TA guys will jump off the wagon, so I guess it could go lower from here. As history shows I am not much good at predicting share prices vs. time. I sure would like to get some more if it really crashes. I think the lowest I ever bought was $0.03/share way back in the old days.
Sounds like you are getting tempted to put your toe back in the water...LOL!
LOL! Just filled @$0.2889!
BECAUSE YOU FORCED EVERYONE TO BUY!!!
You should read the I-Box more carefully!!!
"Trading strategies discussed on this board may be high risk and not suitable for everyone. Only YOU are responsible for your gains or losses in the market. DO YOUR OWN DUE DILIGENCE before buying or selling ANY SECURITY."
Take responsibility for your errors. I will be green at $0.39 if this drops to $0.20 and there is some decent volume. Those who do not have deep enough pockets to take chances in the market are probably best served with a savings account somewhere. They pay about 4% in Panama.
Or, you can just sit there for years and wait until it finally returns to a reasonable value and sell and breakeven! It is called investing and money management. What we really need is a 20% drop and some real volumes in order to make serious money. I defy anyone to go out and fill an order for 5,000,000 shares @$0.20!!! It just ain't gonna happen!!! So we just keep on keeping on and nibbling at the little crumbs that we can find along the way. Any day that you can average down on a company as good as this one is a great day.Let's see now...Either the latest little crumb will go up 500% before the end of the year, or we will dump about 35,000,000 warrants by mid January. Hmmm, sounds pretty good to me either way...Forward PE Ratio getting closer to 1.00!!! 100% annual ROI!
Life is good and PTQ is doing just fine, thank you....
Lots of misinformation out there.
CNBC now live talking about Soros dumping gold and gold stock (GLD).
Bloomberg also scrolling the same thing live now.
Yahoo just posted article that says Soros is dumping gold, "Should you?"
New post on SH explains exactly what the truth is from official SEC filings. Vladimir Zernov also has article explaining the same. Seems like a real effort to boost the USD.
Will sell cars, plane, helicopter, and cattle if it goes to $0.20!!!
Why did poster say I am causing people to lose money? You only lose if you sell at the wrong time!!! When GDXJ is down 70% even the most humble intelligence knows it is the time to buy, not sell!!!
I have encouraged no one to sell! I have tried to help those less able to make a fortune with this once in a lifetime opportunity to participate in the Panama mining sector. Not my fault if they chose to lose money!
Starting the day in Germany...
PETAQUILLA MINERALS (P7Z.F)
-Frankfurt
0.2230 Down 0.0330(12.89%) 8:27AM EDT
Look out below!!! Dropping like a rock. Will jump in for another
good chunk when the free fall stops. Germany's numbers down from
yesterday calculate to $0.27/share USD if PTQMF moves down the same percent. Look out four-for-a-dollar, here we come! I believe that puts us at exactly 1.0 forward PE Ratio!
Waited an hour and not a peep!!!
GOSH!! I GUESS THERE IS NO COMPANY SPECIFIC NEWS THAT CAUSED THE VOLUME SELL OFF TODAY!
Just another case of irrational lemmings running herd like over the cliff. Why should I have lowered spirits? I am not losing a dime, because I am a buyer as always. Explain to me why the whiners and ankle biters who don't have any faith in the company, future, or management, sit there and let their stock go lower and lower. No proactive averaging down which is just basic money management. If one has no faith in the company, it is the height of insanity to just sit there, bash the company, and then say I am hoping for a 400% increase soon so I can get even, and that is to be delivered by the management team I am constantly insulting, is also amazingly stupid!!!
In simple math: Buy 1000 shares @$1.00. Invested $1,000.00. Stock drops to $0.33, buy another 3000 shares for an additional $1,000.00. Now when it returns just to where I bought it at $1.00 I can sell my 4000 shares and I have doubled my money!!! Can't believe that is too difficult for even the biggest simpleton here!!! Instead it is OMG, OMG, maybe some day after many years I will break even!!!! YEA!!!! Cm'mon man! That is funny!!!
Now if you have no faith, and the fundamentals are bad, you just sell your 1000 shares, capture your tax loss, and move on to a place where you DD and judgement directs you.
To sit and whine, sit and complain, sit and moan, sit and cry, sit and hurl insults, sit and sit and sit, and do nothing is puzzling but entertaining to watch in a perverse sort of way. It is also very useful as a tool to teach your children and grand children about people and investments. Remember the old story I posted a couple of years ago, about the lion and the thorn...perfect example of some posters here. No clue, no DD, only the pain brought on by inaction, and ignorance. FISH OR CUT BAIT TIME IS HERE AGAIN....NO BRAINER TO BUY AT THIS LEVEL AND LOWER NEXT WEEK!!
Did anyone hear the specific news?
What was the fundamental change that has provoked the panic dumping of shares?
LOL!!! Whatever it is, it is good!!
I have been saying for quite a while that we will see $0.25 soon. If that disturbs you, I'm sure that the old Savlo numbers would drive you crazy. Remember, if you have been around for a long time the old $.03-$.04 lasted for a couple of years. I think you should give yourself at least two years and better four! Of course it will be nice when our PE Ratio is at 10-15, but that may take quite a while. May not come until we his 200,000oz./yr. in four years or so. In the meantime just keep accumulating those chips while they are giving them away. Hopefully some of the losers will capitulate, sell their 100 shares and move on.... Life is good at PTQMF!!!
Looks like four for a buck coming!
We just need a little more good news to drive the price below $0.30! Now it is just $0.02 away. Time to double down on the monthly purchases and average down again!! Life is good!!! Cattle to market with high prices, and money to PTQMF what more can you ask for? "Those who are afraid of risk, will never drink Champagne!"
Some sanity..."From out in the West!!"
Loji, I was not going to bother, but since you chimed in, perhaps there is still a little life left for this board.
First of all the PR:
When a company with a market cap of 75.56M lets contracts and initiates work over the next six months at a cost of 40M-50M, and begins a new major project that has AuEq. M&I reserves of more that twice its total now existing, that certainly qualifies under the laws, both in the USA and Canada as a significant event and mandates the PR.
The PR is conservative, thorough, and to the point. It was drawn by competent managers and attorneys and approved by the BCSC before it was issued. This stuff is not done on the back of someone's yellow tablet in a back office. The ramp is not a driveway in Malibu, but a major construction undertaking, as is the 20,000 meter drill project, where five drills are working 24/7. To blow it off is just absurd ignorance.
Secondly the DB facilities:
You make the point about the money we receive for the gold we give to DB. I would go even further about the cost of financing: (1)It increases out debt, which on its face is bad. (2) The interest cost in this market would be prohibitive. (3) You would encumber assets. (4) The price of gold was below $1,390.00 today which is only $100.00 above what we are receiving from DB. (5) The DB facilities are on the downside of the timeline and will decline considerably over the next 18 months. (6) Then you would have finder's fees that are standard and options that are dilutive at the time we are reducing our exposure with expiring warrants.
Look what we have now:
OUTSTANDING FINDER OPTIONS*
Expiry Date # Of Finder Options Exercise Price
December 30, 2013 1,169,970 1.00
January 7, 2014 273,778 1.00
January 26, 2014 125,000 1.00
TOTAL 1,568,748
* Each finder option is exercisable into one common share and one common share warrant at $1.45....
Thirdly the acceleration of expansion:
By pushing this start through the exhaustive bureaucratic process in Spain by our excellent team, we have significantly moved closer the time we will be processing high grade ore from Spain in Panama. Oullins noted that even he was surprised by the speed and excellent job done; he was just there this month!
To call for the company to explain the above just points out the total lack of understanding about what is required, what is happening, and what the future will bring. Reminds me of the comments when Don Cristobal Colon de Carvajal joined the company and the posters here ridiculed him. Now he has definitely delivered.
Exactly what is more important?
It would seem that getting access to 830,000oz. of gold on a timely basis would be more important than the other smaller issues that people complain about. I guess it is all in one's perspective and understanding of the greater vision. If one does not understand, there is no point trying to explain.
Someone is selling down stock.
Either they are very unhappy with this Argentina educated candidate, from where they nationalize assets, or they want to wash out those $0.40 warrants on June 1st. I guess we will know pretty soon. Maybe some shares at $0.25 before the end of the month!! I know of no bad news in the pipeline.
Still no appreciable rain.
The Government announced that it will continue with energy saving measures until further notice, as it still does not rain on major hydroelectric dams in the country.
So, for tomorrow, Monday May 13, the public sector will remain the working hours of 7:30 am to 1:30 pm, and throughout this work day will not come on the air conditioners.
All schools, colleges and public and private universities will open tomorrow, Monday May 13, at the regular time, but without turning on the air conditioners.
As for companies and institutions that have fuel power plants should continue to use them. Signs and illuminated signs and decorative lighting of buildings and monuments can not be switched from 6:00 pm to 10:00 pm
The air conditioners in commercial business, industrial and otherwise, as well as other private institutions will remain off from 8:00 am to 4:00 pm, except those that are self-sufficient.
Casinos, bars, canteens, whore houses, clubs, cinemas, supermarkets and night clubs will close from Monday to Thursday at 10:00 pm Exceptions to this extent those establishments with power plants and to feed themselves.
My choice lost, but I had not vote.
Second choice guy won. Pathway for us not so clear now.
No problem...glad you made bail!
HUGE DAY IN PANAMA TODAY!!!
Did you do your DD homework? The outcome will directly affect Petaquilla, Minera-Panama, and our future for many years. The impact on us cannot be overstated!! Who will it be??
Don't know about that!
If they met at PTQ they would just go up the street to the 'real' Jimmy's and have a great meal at 1/4 the price of Trump's. Those sizzling steaks are hard to beat!
Hmmm....that is interesting.
Wonder why they didn't eat lunch at Fifer's restaurant like usual?
Must have been quite a commute!
Might be of interest...
There is a post on SH of an old article from April 2011 wherein
during a trip to Spain, that a lot of us also took on holiday, the company took interested parties on fly overs, and then discussed with the press the expectations in Spain. Ironically, here on the board the whiners were complaining that there was no information out to the public on Spain. Yet there it was in front of God and the world if they just took the time to look. It was in all of the papers!
It has been about 24 months now since that interview and we will be seeing the results of exploration over the next six to eight months.
Wonder if we show five or six million ounces of AuEq. the share price will move. Who knows with this irrational market. Main point is that there will be somewhere between 2,500,000 and 7,500,000 AuEq. ultimately in our Spanish reserves.
It is possible...
I am happy at 22,250oz. which would be 10% above our best quarter ever and 25% above Q4 2012. Just as long as we show progress and an EPS of $0.02 or better to give us a 20% increase YoY and a PE Ratio of 2.91. Problem is, we have to wait until August 31st to learn the facts. Perhaps they will publish a few preliminary numbers as they did last year on July 3,2012.
Worry about enough HL water, not too much!
(AFP) – PANAMA CITY — Up against the wall in a drought-sparked energy crisis, Panama said it would shut high schools and universities for three days, in a desperate bid to reduce power usage.
The Central American nation of 3.6 million has a booming economy -- Latin America's fastest-growing at 10 percent a year.
But it depends heavily on power from hydroelectric plants fueled by water and the rainy season is a month late, part of an increasingly common pattern scientists and forecasters have linked to climate change.
Government officials have been warning that the country, which normally has water to spare, is now perilously close to having to ration power, and are trying anything and everything to avoid that.
"We are hoping that with these steps we will be in a place where we reduce demand" significantly, presidential spokesman Roberto Henriquez said.
"If we do this for these (three) days, I think we will be able to avoid rationing, which Henriquez warned could "stop, or seriously affect the nation's economy."
On Monday, President Ricardo Martinelli said: "I ask all Panamanians to save energy, because (lack of) rain is seriously undermining our power grid and we do not want to end up rationing."
Power supplies are only part of the fallout from the drought. Emergencies have been declared in several provinces as hundreds of cows have died in the parched conditions, and farmers have had to significantly delay planting.
Just under a third of the country's power is generated at hydroelectric plants. More than half is from plants burning conventional fuels -- like diesel and coal. Only four percent is from renewable sources.
La Prensa attack PTQ/FQM continues.
La Prensa knows that all of the questions they raise have long ago been debated, litigated, and ruled on by the Supreme Court over the last ten years.
But hey, let's not let that get in the way of the story!! Even the Nature Conservancy states in their famous report that the only hope for the biodiversity corridor was Minera-Panama and Petaquilla who would replant 10 for 1 and save it from the slash and burn exploitation of the friggin' Indians.
Minera Panama explored without collateral
Anam endorsed two new phases Panama Mining exploration in its concession, but this company explored before approval.
MARY TRINY ZEA
08/05/2013 - Two new studies of environmental impact assessment (EIA) for field exploration approved the National Environmental Authority (ANAM) to Minera Panama.
By orders dated December 2012, Minera Panama became the phases VII and VIII of exploring its 136 square kilometer concession in Donoso.
But, although the latter endorsement phases occurred in December 2012, Inmet (former owner of Minera Panama) had nine months before the results of a drilling program which discovered the site of Balboa. This plan was released on March 8, 2011, according to statements of Inmet.
Drilling at the site of Balboa is actually mentioned in the EIA phase exploration VII, approved in December 2012, although by that time, had reported Inmet and the rich mineral resources of the site Balboa.
Minera Panama responded to this newspaper that the exploration of the "reservoir Balboa [also] comes under the exploration phase VI, approved in March 2011." But that EIA was not approved at that time, it was received at the Directorate of Evaluation and Management of the Anam on March 18, 2011. This study was approved actually almost two months later: May 16, 2011.
Furthermore, this does not refer to EIA Balboa deposit, but scans announcing unexploited copper deposits of San Benito, Four Peaks and Chicheme.
ANAM KNOWS NOTHING
In Anam Minera Panama indicated that "should not" explore before having the endorsement of the institution.
But none of the three officials interviewed by this means could say whether there were Balboa scans before approving the EIA, nor could they say whether the drilling at the site were included in previous studies.
Benito Russo, head of Anam Environmental Assessment, said he could not provide the previous EIA or see the maps because they did not have them on hand. But this means EIA obtained all previous explorations in the Documentation Centre of the Anam. None, except the phase VII, mentions the site of Balboa.
The mining project includes three extraction pits to locate sites and infrastructure-to deforest almost 6000 hectares of forest, but the scans are looking to expand the number of places to get ore.
With phases VII and VIII explore Balboa Botija and North Down, Petaquilla, New Fight, Can and Fardalito.
Mina under construction
Since last April, Canada's First Quantum mine controls, acquired by Inmet, which had started its construction.
The construction, which is ongoing, involved down 2000 acres of trees. Also will be cut 18 acres to build 70 temporary exploration platforms Phase VII and VIII, and 50 heliports, Anam documents say.
This mine is the largest copper project in the world, right in the forest reserve purpose of Donoso, province of Colon.
Metal Exports will begin in 2016, after an investment of 6 billion 200 million dollars.
Environmental damage and fragmentation of the Mesoamerican Biological Corridor, where the mine is drilled concern to the National Association for the Conservation of Nature (Ancon) and the Environmental Advocacy Center (CIAM).
BAD BUSINESS??
Minera Panama would contribute about $ 130 million a year in royalties to the state, which would be about four billion dollars in a 30-year operation. This contribution to the State would be the equivalent of mining revenues for two years.
The mine would produce 255,000 tonnes of copper a year, 90 thousand ounces of gold and 1.5 million ounces of silver.
To this day will remove 150,000 tons of materials and after 10 years, 255 000 tonnes.
"There is a good deal that the State receives royalties for $ 130 million, when the gross value of annual output [of the mine] would reach a figure of about 130 million 2000 dollars" (based on the current price of the metal ), said Raul Moreira, president of the College of Economists.
"If I had even Anam technical or financial capacity to analyze the EIS before the project started, how will ensure that such earth moving permanently affect the biodiversity of the area or to satisfy the assumptions of environmental impact mitigation during production and culminates once the life of the mine? "asks.
The miner says its project will contribute to the biological corridor connecting said that 240 000 hectares reforested.
But his own EIA states that the biological risk is the reduction of biodiversity, by "project footprint". For example, reveals that the forest will need over 50 years to grow back.
Ancon and focus their questions Ciam chemists to use to get the minerals and the possible formation of acid waters.
In this regard, where the mine is built are Petaquilla River basins, Caimito and San Juan.
The Panama Mining supports EIA as "potentially high risk to the people", the increase in the concentrations of arsenic in the product of the activity of the mine. And 20 kilometers from this there are 6000 inhabitants.
Affect fish tissues, causing human health risks, exposes the EIA approved by Anam in December 2011.
According to experts of the Ministry of Health, arsenic causes cancer.
EIA also notes that increase the concentrations of copper, aluminum and selenium in water.
The tailings filtration (tubs with the ore processed with chemicals) will impact local groundwater, says the EIA.
The unknowns of the new 'mining district'
For three deliveries, hereby addressed the transfer of state land for mining, covering the forest reserve of Donoso, Colon, and Omar Torrijos of the park in Cocle, equivalent to 1.5% of the country, called "mining district Petaquilla ". This is the possible destruction of an area similar to twice the Coiba Island.
There are questions left unresolved since the mining and Ricardo Quijano, Minister of Commerce and Industry (Mici)-sector regulator refused to be interviewed by this newspaper. In Donoso operate Petaquilla Gold and Minera Panama. The first is from Panama Richard Fifer, and the second belongs to the Korean state (20%) and 80% of Canadians.
- Why Petaquilla Minerals says the regulator of U.S. securities has a mining concession of 842 square kilometers, when the Mici reports only 136 square kilometers?
- What motivates to publish maps Petaquilla mining concession by 51 thousand square kilometers, equivalent to 1.5% of the country?
- Mici Why not make clear whether the company Richard Fifer has so much land for exploration and mining?
- Is it legal for companies selling state land Fifer out of his contract-law?
- What protects Petaquilla exploring outside their concession and no environmental impact study?
- Why did the authorities not aware of Petaquilla operations outside its concession, when they have never hidden?
- Why give Mici is for two new exploration contracts Petaquilla of 24,105 hectares, equivalent to the surface of lakes and Alajuela-Bayano environmental regulations when it fails?
- How much will the State in royalties Petaquilla to extract gold?
- Why not have a record Mici updated mining and consistent with the location map of the exploration and extraction sites?
- How much land will yield Minera Petaquilla Minerals Panama after agreeing new concession contracts with the State of Panama?
Mary Triny Zea
FOCUS: Korea, owns 20% of the
Harley James Mitchell Moran *
Opinion. A constitutional analysis makes me disagree with the possibility that foreign governments are shareholders of Panamanian mining companies. The Panamanian State territory includes, among other elements, the subsoil, which, according to Article 3 of the Constitution, "can never be ceded, transferred or disposed of, either temporarily or partially to other states." While Article 257 of the Constitution dictates that the deposits of any kind shall not be subject to private ownership, but may be provided by the State or by private companies under concession.
This article does not point out the possibility that different to the Panamanian government, even within the framework of public or private companies, to influence these concessions. Finally, Article 290 of the Constitution says: "No foreign government or institution or foreign official or semi-official may acquire title to any part of the national territory", except in the case of the embassies. Undoubtedly, the recent amendments to the Code of Mineral Resources, foreign governments, through partnerships, dominate concession sites, as do companies today, encouraged by the Government, contrary to the letter and spirit of the Constitution.
DigiTech, I'm beginning to worry about you.
There is no point in making your point which is a correct point.
You have a poster here with thousands of bashing posts, personal insults of the worst kind, including calling for death and disease of the worst types for other posters and management. Please do not spend your time looking back at his/her 4,000 odd posts unless you wish to create a Thesaurus of the most vitriolic, insulting, crass, classless attacks upon management of any company known to man.
At the same time not a single analysis or cogent position has ever been presented by the same person. The facts and insults are on the record. If you could see the hundreds of posts that were deleted you would truly be amazed, that such hate could come out of such a little mind. It is not just water under the bridge as you stated, but rather an enormous cesspool of filth that will stench up any board for years.
So my advice, which you can take for exactly what it is costing you here, or not, is to just focus on our very fine company, that God willing, and the creek not rising, will stand and deliver handsomely for the stockholders over the next three to five years.
To look for order and rationalization where there is none is truly a work best suited to Miguel de Cervantes Saavedra's most famous character. Perhaps during your visit to Spain recently, all those Euro coins,(€0.10, €0.20, and €0.50 made for Spain), that bear his portrait and signature, had an effect on you to cause you to try to repatriate those who are lost!
FQM IS HAPPY, PETAQUILLA IS HAPPY, THERE IS NO BUYOUT, EITHER FRIENDLY, OR BY HT, BUT RATHER, AS POSTED HERE MANY MONTHS AGO,
ALL WAS WORKED OUT WELL BEFORE THE INITIAL OCTOBER 2, 2012 OFFER OF FQM TO INMET. EXISTING AGREEMENTS WILL BE HONORED, BINDING TERM SHEETS WILL BE MODIFIED TO MAKE THINGS BETTER FOR BOTH COMPANIES, ADDITIONAL CONTRACTS HAVE ALREADY BEEN LET TO PETAQUILLA, (PDI), RICHARD'S OTHER COMPANY WILL BE HELPING FQM REDESIGN THEIR PROJECT, AND THERE IS GREAT RAPPORT BETWEEN THE TWO COMPANIES AT ALL LEVELS. AS IT HAS ALWAYS BEEN A GREAT OPPORTUNITY FOR THOSE WITH INSIGHT TO PARTICIPATE IN THE DEVELOPMENT OF PANAMA'S EMERGING MINING INDUSTRY. LET THE DISGRUNTLED TO THEMSELVES THE CARAVAN IS MOVING AND I CAN HARDLY HEAR THE LITTLE DOGS STILL BARKING.
"PETAQUILLA ES PANAMA"
Prensa attack continues...
Post on SH for anyone interested.
FQM webcast in 30 min.
Acquisition of Inmet Mining Corporation
On March 22, 2013, the Company acquired 85.5% of the diluted shares of Inmet for total cash and share consideration totalling $4.3 billion. Subsequent to the end of the period, a further 7.2% of the outstanding shares were acquired by the Company on April 2, 2013, and the remaining 7.3% on April 30, 2013.
As a result of the transaction, shares in First Quantum immediately following the initial acquisition are owned approximately 83% by previous First Quantum shareholders, and approximately 17% by previous Inmet shareholders. Share options, performance share units, long-term incentive plan units and deferred share units in Inmet have been extinguished and not replaced.
The acquisition was funded through a $2.5 billion new debt facility. On March 20, 2013, a wholly owned subsidiary of the Company entered into a syndicated debt facility arrangement for $2.5 billion incurring interest at LIBOR plus 2.75%.
Through the acquisition, First Quantum has acquired 100% ownership of three operating mines and 80% ownership in a development project. The Las Cruces mine in Spain is an open pit mine producing copper cathode, the Çayeli mine in Turkey and the Pyhäsalmi mine in Finland are underground mines producing copper and zinc concentrates. The Cobre Panama development project is located in Panama and on successful commissioning will produce copper and molybdenum concentrates. Following the acquisition, operating guidance has been updated to include production results from Çayeli, Las Cruces, Pyhäsalmi, as well as expected capital expenditures at these sites for March 22 to December 31, 2013.
The financial position of Inmet as at March 31, 2013 has been consolidated with the results of the Company. The financial performance of Inmet for the 10-day period ending March 31, 2013 has been included with the results of the Company for the three months ended March 31, 2013.
Cobre Panama, Panama
Following the successful acquisition of Inmet, the Company has commenced a detailed review of the Cobre Panama project. The objective is to re-establish the project on a more 'self-perform' basis to maximize the benefit of the Company's core project development skills. To this end a number of key contracts, including the main engineering, procurement and construction management contract, have been modified or cancelled and a rationalization of the work force is currently under way.
This review is expected to take between two and four months before a revised capital cost estimate and project timetable will be available.
"That by the way maybe an understatement."
Sorry for the loose interpretation of "filed", I was not with the legal hat on this morning. As far as La Prensa...they hate PRD, CD, and everyone else at the moment. Just typical "politcaria" and we will see more of this as we move toward the 2014 elections. The status of everyone, under Ley Petaquilla 2009, is well established and confirmed by the Courts and National Assembly on many occasions.
Makes for good reading, but sort of tabloid news. Always take anything from any newspaper in Panama with a grain of salt. Locals know who is in who's corner so it is easy for us. But, for bias, even the USA mainstream media could learn here. My guess is that FQM, PTQ, and most everyone else will just ignore them.
PTQ files regularly with SEC.
Traded in USA as PTQMF.OTC. Edgar regulatory filings listed at top of PTQMF board above posts. Here is latest from above:
OMB APPROVAL
OMB Number: 3235-0116
Expires: March 31, 2014
UNITED STATES
Estimated average burden hours per response 8.7
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2013
Commission File Number 000-26296
PETAQUILLA MINERALS LTD.
(Translation of registrant’s name into English)
Suite 1230, 777 Hornby Street, Vancouver, BC, V6Z 1S4
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [ X ]
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-______.
Exhibits
99.1 News Release dated April 17, 2013
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Petaquilla Minerals Ltd.
(Registrant)
Date April 17, 2013 By /s / “Ezequiel Sirotinsky”
Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
SEC 1815 (04-07)
LOL! Prensa not a big fan!
Let's throw everything we can think of, true or not, against the wall and see if anything sticks! Doubt if this will have much effect one way or another. But, as they say in Hollywood, anyway your name gets in the news is a good thing!! Jff7 correlation, bad news makes the share price go up, good down!
LOJI, I-BOX needs work!
Link at top to Corporate Presentation is to old 2012 one.
Need new up to date maps.
Bench marks are outdated.
Some of the old, old, old projections need to go away.
latest news needs to be included.
STARTING TO LOOK LIKE I-BOX IS MAINTAINED BY COMPANY IR!!
C'mon Man!! You have weekends off!!!
DigiTech, Great Panorama!!!
That really puts things in perspective for those who have never been there and cannot conceive the size of Molejon! Thanks for sharing with the board. You are better man than I for sharing this in spite of the bitterness shown to those who know what is actually going on with the company.
Bored waiting for news?
Something to do this weekend in Panama:
www.isasurf.org