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PETA I would watch what you say on this board as some posters would say that you would be "selling out" at $2.00 . It wouldn't even matter if you made a killing, you would still be doing a "disservice" to PTQ. HA !!!!!!
Whatever happened to....."we are not for sale ?"
Once again I may be off base, but the original offer on the PR was .48. Some people are of the impression that this could be the offer but if you read the following, it is apparent that the "öffer" must be above the current share price. It only makes sense. We need to drive up the SP...I wish it was that easy.
Taken from Wikipedia
Hostile takeovers
A "hostile takeover" allows a suitor to take over a target company whose management is unwilling to agree to a merger or takeover. A takeover is considered "hostile" if the target company's board rejects the offer, but the bidder continues to pursue it, or the bidder makes the offer directly after having announced its firm intention to make an offer. Development of the hostile tender is attributed to Louis Wolfson.
A hostile takeover can be conducted in several ways. A tender offer can be made where the acquiring company makes a public offer at a fixed price above the current market price. Tender offers in the United States are regulated by the Williams Act. An acquiring company can also engage in a proxy fight, whereby it tries to persuade enough shareholders, usually a simple majority, to replace the management with a new one which will approve the takeover. Another method involves quietly purchasing enough stock on the open market, known as a "creeping tender offer", to effect a change in management. In all of these ways, management resists the acquisition, but it is carried out anyway.
The main consequence of a bid being considered hostile is practical rather than legal. If the board of the target cooperates, the bidder can conduct extensive due diligence into the affairs of the target company, providing the bidder with a comprehensive analysis of the target company's finances. In contrast, a hostile bidder will only have more limited, publicly-available information about the target company available, rendering the bidder vulnerable to hidden risks regarding the target company's finances. An additional problem is that takeovers often require loans provided by banks in order to service the offer, but banks are often less willing to back a hostile bidder because of the relative lack of target information which is available to them.
I need some help with this one. INMET stated that we should have the "offer" within the next two weeks or so. Two questions....1) how long does it take to have an evaluation completed on PTQ and 2) when we do receive the "offer" how long do you have to respond to it ??? It would only make sense to vote NO for starters but it would also make more sense to find out what we are worth giving us a better leg to stand on against them. Am I off base here ????
In answer to your question about the big boys selling.....who the hell knows. Others on this board say absolutely not, but how do they know that. We have been told the PP holders have averaged down to .60 from their initial input of $1.00. If they were to reap the rewards of lets say an .85 offer that is a .25 per share increase. Unless my math is off that is a relatively quick 8 million. Will that be enough for them or will they hold out for substantially more ?
Your second question is a valid one for which we would all like to know that. However, if we knew that answer to be YES, we would all be laughing to the bank. When and if a deal comes down the pipe and it is voted down, only then will we be able to tell how bad they really want it (need it). When and if a second offer were to follow the first, then we will have a better grasp how bad they want us. If they really dont need our property, then why attempt a takeover ?
VB, we all know that PTQ is worth a lot more then what Inmet listed on their "offer' which was never formal (.48 that was a joke). Zacks stated $1.70, you say somewhere in the area of $2.30, and the formal evaluation may be higher/lower ????
However, if and when Inmet does make a formal offer for lets say .85 per share (just pulling that out of a hat) and this company gets thrown under the bus by the majority, not the ankle biters who want to make a quick buck, then we are sunk, no matter what the final evaluation proves to be.
Now saying that, anyone with intelligence who has all of the info after the evaluation is released will obviously make the RIGHT decision and not crumble.
In regards to the reason about the cluster fu** why Inmet never secured this property properly....I don't think you will ever find out the true reason what exactly transpired.
Who is buying all of these shares !!!!!????
It's really too bad that our SP doesn't go hand in hand with the POG. Looking to go to $1800.00 today.
This was taken off of SH
Link: http://community.nasdaq.com/News/2012-09/petaquilla-analyst-day-offer-expected-from-inmet-analyst-blog.aspx?storyid=175225
Petaquilla Analyst Day & offer expected from Inmet
Steven Ralston, CFA
There have been several significant developments and announcements concerning Petaquilla Minerals ( T.PTQ , PTQMF ) in the last few weeks: 1) Inmet intends to make an offer for PTQ (currently at $0.48 per share); 2) management hosted the company's first Analyst Day and 3) a NI 43-101 compliant reserve report on Botija Abajo was released. In addition, Petaquilla announced a major debt financing both for the development of Lomero-Poyatos and Molejón and for unwinding the forward gold and silver purchase contracts with Deutsche Bank. Incorporating recent developments into our valuation model, we have raised our price target to $1.70.
On September 5, 2012, Inmet Mining Corporation ( T.INM , IEMMF ) announced it's intention to make an offer to acquire all of the outstanding common shares of Petaquilla Minerals for C$0.48 in cash or .0109 Inmet share for each Petaquilla common share or combination thereof. The value of the offer is approximately C$112 million. If the acquisition is supported by Petaquilla's Board, Inmet would permit the spin-out of Petaquilla's Spanish assets (Lomero-Poyatos) to PTQ shareholders. Petaquilla's stock rallied 65.7% to $0.58 on the news.
Inmet is developing Cobre Panama copper-gold project in Panamá. With an estimated capital cost of US$6.2 billion, the Cobre Panama project is fully financed with $4.0 billion to be committed by the end of 2012. Inmet, which owns an 80% interest in Cobre Panama (KPMC owns the other 20%), is a well-capitalized mining company operating copper and zinc projects in Finland, Turkey and Spain.
The offer, when officially made in accordance to the security laws of Canada, is fully financed and does not require approval by Inmet's shareholders. Also, the offer is contingent on receiving at least 50.1% of Petaquilla's shares (on a fully diluted basis) and on no further debt or equity financings being completed by Petaquilla, specifically mentioning the recently announced US$210 million debt offering. The Board of Directors and management of Petaquilla are in the process of considering and evaluating the Inmet's announcement. Meanwhile, management is continuing with the road shows for the planned $210 million debt offering.
In early September, Petaquilla Minerals hosted an Analyst Day in Toronto. Simultaneously, a NI 43-101 compliant estimate for the Botija Abajo deposit was released adding $13.0 million (or $0.05 per diluted share) to the NPV to our valuation model. In addition, to providing an update on Molejón, a timeline was presented for Lomero-Poyatos. As part of a bulk volume test, the shipping of ore-laden earth is still expected to begin in December 2012. A separate processing line will be assembled in Panamá and is currently projected to become operational by June 2012. Management plans for a processing plant in Spain to be constructed within the next 12 to 15 months with processing operations targeted to begin by mid-2014.
These important modifications affected our valuation model. In addition, the recent increase of gold and silver prices added $0.13 to the price target. Based on our calculation of share value of attributable resources, the target for Petaquilla Minerals stock has been raised to $1.70. We reaffirm our Outperform rating.
Read more: http://community.nasdaq.com/News/2012-09/petaquilla-analyst-day-offer-expected-from-inmet-analyst-blog.aspx?storyid=175225#ixzz274KAcA7d
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?s=PTQ&t=LIST&m=31562683&l=0&pd=2&r=0#8QYB9RTrGELkzxIC.99
I guess we will all find out in less than two weeks where we stand?
For what it's worth.....
Inmet Mining Corp. (IMN) said it anticipates mailing a formal C$112 million ($114.6 million) bid for Petaquilla Minerals Ltd. (PTQ) to Petaquilla shareholders within the next two weeks.
The offer, which was proposed Sept. 5, won’t proceed if Petaquilla goes through with a $210 million private placement, Toronto, Canada-based Inmet said today in a statement. Inmet is proposing to pay C$0.48 or 0.0109 of an Inmet share for each Petaquilla share.
Inmet is developing a $6.2 billion copper and gold mine in Panama that will be the country’s largest. Buying Vancouver- based Petaquilla would give it control of the nearby Molejon gold mine, eliminating what Inmet’s Chief Executive Officer Jochen Tilk said in a Sept. 5 conference call would be “a potential source of disruption.”
Petaquilla dropped 3.2 percent to C$0.60 in Toronto, implying investors expect a higher offer.
Petaquilla said Sept. 6 it was evaluating Inmet’s proposal. Dimitri Zolotov, a spokesman for Petaquilla, couldn’t immediately be reached today for comment.
To contact the reporter on this story: Simon Casey in New York at scasey4@bloomberg.net
To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net
You mention about the ankle biters selling out and ultimately losing the company from their greed. Now correct me if I am wrong but how can the ankle biters have any affect on the way this turns out considering the majority of the shareholders are the big boys......not the ankle biters.
Ok, I'm looking for feedback on this potential buy out. The original and ridiculous offer was for .48 per share. Today we are at .60. Does Inmet re examine this ridiculous offer again, or do they bump the ante all factors considered ??? I just can't comprehend why anyone who purchased millions of shares after this was first proposed woud vote for it as it drove the sp up significantly obviously higher than what they want to offer.
Inmet took the time to send this out a second time, so, I am wondering if PTQ will send out another PR to their shareholders.
Sept 27-28 Cambridge House International Investment Conference in Toronto if any is interested in attending. If I didn't mention, PTQ will be there.
Of course I would like to know what the hell is going on with HL. With the low grades, it is essential for this company to do well with this type of operation to extract the reserves that are available. As we are all aware, we need HL to produce large numbers when it is fully operational to add to our bottom line....we were told so, werent we...HA ! When will that be ???....I don't know because we are not advised. The same reason there was no explanation for the 300 oz that was produced.
What kills me on these boards is that I, along with you and others are labelled as whiners when we have legitimate questions that should be answered and still to date we are left in the dark.
I get that some things are out of control because of policies, politics, what have you, but the flow of other expected updates, deadlines, etc is brutal.
I would further like to add, that I personally don't make predictions because in all seriousness, what the hell is the point ? Even based on your best DD, this is a crap shoot (penny stocks that is) on the best of days.
Well there goes my theory of having the CC and updating the shareholders about current and future events. We are always thrown some type of curve ball. Even if he didn't want to discuss the deal, there was still info he could have disclosed with us.
Oh well, I guess we just sit back and wait....and wait....and wait.
Is there a CC coming up near the end of this month? One would think, hope for, pray, expect, that FIFER will discuss the issues with HL and what their intentions are in regards to INMET, amongst other topics of interest.
$1772.00 as I post. We will surpass $1800.00 very very soon. Every dime makes us more profitable.
Is it safe to say that Inmet will not make another "offer" or whatever you want to call it until they themselves are 100 percent certain that PTQ is unable to get the PP closed ? It would only make sense as the failure to secure the PP would assist Inmet with a secondary offer that may or may not be more enticing.
I may very well be wrong but didnt someone say that the PP holders averaged down to .60 ???????
If they offer $1.25, you are darn right I would be gone. I can't speak for the other posters but I am sure that they would be happy. ROCKABERRY on SH stated that Casmir was ONE of the large players yesterday which helps us out.
I am very curious to find out who the major stakeholders were from yesterday. That will ultimately put us at ease (so to speak).
Gold is on a bit of a tear as I post and as Jal had mentioned. Every dollar that gold goes up is helping out our bottom line.
I think it was you MJ that mentioned that it is up to the big boys with all the marbles to play this game correctly. I know they obviously don't care about us, but I sure hope that they are greedy enough so that we can ride their coat tails.
So here we sit at the current SP. The "offer" is for .48 per share. Millions of shares were at different levels today. Why would people buy today higher than the offer if in fact it transpires. They would be losing in the end.
This offer will not go through
So much for Petaquilla is Panama. This will not be accepted.
I don't want any more gifts...I would like a REWARD by now.
Don't you know that purchasing anything under $1.00, I mean .90, I mean .80, I mean .70, I mean .60, I mean .50, I mean .50, I mean .40, I mean .37 IS A GIFT
If I may add, if ANYONE reads these boards that is in anyway affiliated to the Company, could you please go back and tell them that the Corp Presentation is embarassing. Why is it so hard to update this???? I wonder if they are going to pass around this out dated info at the upcoming conference? Wouldn't surprise me in the least. Great job and keep up the great work !
Happy Labour Day
PETA here are my personal issue(s). I have been invested with this Company the day approval had been granted to mine in the jungle. Others have been here since the ADRIAN days. The share price went up and up and up when approaval was rubber stamped.
Yes I did take some profits. However, at that time I was a STRONG believer based on DD that we would flourish. The SP continued to go up until it hit a wall. From that point this thing fell from the sky. I, along with others on this board know damn well it takes time but there is NO DENYING that this has not been a smooth ride up until this point. Too many missed dates...too many missed promises...too many missed EVERYTHING. No Im not whining Im just stating facts. I guess my time line keeps getting longer and longer and longer.
A lot of people say...wait, great news is coming. Well I would hope so because we have been hit in the balls so many times it's only a matter of time, statistically speaking, that we go up.
Or maybe not.
I truly hope that you are correct
What is going to be the catalyst for this thing to FINALLY get some momentum other than the following...
1. meet or exceed their own goals (Oz's)
2. keep the investors advised of important events (time lines)
3. complete the PDI deal
4. complete the PP
5. get heap leaching fully on line
6. N43-01 for all vested interests
7. try not to be a politician and deliver your promises (HA !!!!)
Im sure I have missed a lot of important topics but I am very curious what the missing link is that will propell us into orbit.
MJ, I will post what I like when I like. I don't know if you know this or not but you are not the be all to end all on this board. Did you read my post....apparently not. All you did was take a poke at me. This is the same type of behavior you personally slam other people about. My post had to do with management and what they tell us/ decide to disclose...not the poster !!!!!!! I thought you were smarter than that but I guess I was incorrect and I apparently gave you too much credit in the past.
This is from ROCKABERRY on stockhouse. It MUST be true because IR told him !!!!!!
" Just spoke with IR and the PDI spinout record date will be changed. I was told that the company will be releasing their financials for fiscal 2012 at the end of the month. As I understood it they need the financials to go ahead with the spinout for some reason. So their thinking the new record date will be at the end of August or September. Then followed up with the meeting. So you can still get in on those PDI shares. Frustrating yes but it doesn't seem to have affected the SP at all. So that is a positive. I think it will be pretty quiet for the rest of the month. We could still get the first tranche of the financing but i think your right VB it looks like September will be a good month. Then into the fall with the expansion being complete. QE3, drill results, could be a perfect storm."
Long weekend here in Canada. Markets closed Monday.
Thank you LOJ and thank you MJ.
I know that you will be here for a significant amount of time but this 3-5 year time line that you speak of interests me. What does it actually mean to you and what number are you expecting to see in the SP at that time. I have said this before but I am definitley not here for that duration...but once again that is me. Would you agree or disagree that when you (investors) ask IR about one or many of the topics that you have listed they never supply a staright up answer. If they are not allowed to answer the questions due to company restrictions, then why do we even bother.
With all due respect I never know how to read you...by that I mean you have listed many items that everyone would like to know and you have done this in the past. However, throughout your posts you are definitely loooooong term. So I wonder why you really care in the short term considering you have at least a 3-5 year outlook if not longer. Things that happen right now will not have any bearing that far down the road. (I am not talking about new construction around the plant either such as the Ball Mill).
All great questions.....so why do other people get criticised when they ask these same questions änd why are they labelled as bashers ?
This Company truly is a debacle.
How long does one stay in a company on the premise one day ït's going to the moon when in fact that day may never come to fruition?
For whatever reason we ALWAYS have some sort of delays with NO explanation. And Im not talking about the logistics of PDI as that is out of our hands.
Am I to take it that based on your outlook that the analysts have no idea what they are talking about as their projections were to be obtained/met within a six month time line ?
As of May 16 PTQ has not purchased any more shares. On June 1 Kaplan acquired shares but I think as discussed previously that he was given these shares as part of another transaction. I was somewhat hopeful that PTQ would have continued to purchase shares, but once again I was wrong. At this point it is obvious that they have no intentions of propelling the SP by making large purchases. Perhaps it is for a specific reason ....only they know. Is this stock being manipulated so that other people can come on board so they can reap the benefits of PDI ???? .....doubt it.
Reading this board gives me a headache sometimes. When the info first came out people were happy and now the winds have changed. At the end of the day I factor in what the analysts believe accompanied with DD because if we hit $1.45 in six months as projected.....bu bye !
Hence, that has been my point, along with other posters in regards to these dates they list and in turn miss. Perhaps they have no control due to factors beyond their control, but I'll bet you my left nut that people still say WTF one way or another. What is the point of listing a specific month...to give people hope ???? Not everyone is going to contact IR and find out what has transpired, thus if a date comes and goes, I believe the Company should put something out advising its shareholders what the hold up is.....but again, that is just my opinion.
Congrats LOJ.....you obviously worked very hard to obtain your goal !
Happy Canada Day. TSX will be closed on Monday July 2nd.