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OK. But when I looked at picture...
the little pad in the middle is dark green in and of itself. The bright green I was referring to is adjacent to the large pad and I made the assumption that it was coming from that pad. The 2010 Behre Dolbear report, some of which is in the I-Box, shows that when all is up and running we will process about 2,200,000 t/yr. With 740,000 ton capacity it would seem about three turns a year. That falls right in line with the extended leaching time to maximize silver recovery and then the required time to unload and load again. Whatever it is, it is coming very cheaply and we have plenty of ore. Looks like the construction was very well done.
No question latest worth 1000's words!
There is that bright green right in the middle of the picture that testifies to anyone that the big pad is on stream, contributing to production, and it was done on time, and under budget. Hopefully, that issue that never was in the first place is put to rest. The ounces may be small, but the cost is really cheap. Like everything else it just takes a little time. This is not a lemonade stand. The best part is that the two big pads are on/off design and will be used for many years. The average grade for the ore is right in line with the rest of the industry and the yields are even better. It is nice to know that we have a qualified team of experts in control of the operations. Focus is now moving to Spain where great things are happening every day!
I assume you mean calendar Q3 2014.
Fiscal Year Q3 2014 would be Dec. 2013, Jan.-Feb. 2014, the miracle I would like to see. Twenty-one days 'til those nasty warrants fly away! Time passes so fast when you are having fun!! (Reference PMC)
Talked to several engineers there today.
Looks like earliest shipments of ore from Spain will take place probably after the first of next year. Lots of work to be done and lots of bureaucratic approvals needed that take time. This is a very large undertaking.
Nice photos.
Like the comparison of the little 40,000 ton deep green one with the big guy below it and all that bright green stuff that seems to be leaching out already? These must have been taken a while ago. I see the two suspicious guys peeking in the window...one has a backpack. Guess that answers the constant question concerning whether there is heap leaching at Molejon. LOL. Thanks for sharing with the board.
God I hope it pays better!!!
No cabal, just some serious fellows from both boards interested in making more money. Give me an e-mail via PM and we always welcome anyone who is positive, serious, and does DD. Your I-Box more that qualifies you for a special seat at our table. No doubt you will be the youngest member, but that brings a special perspective in itself. We keep each others confidences and respect privileged information that sometimes we cannot share. But, the purpose of quick information good or bad often helps all of us.
Not to stick my nose into your business too deep, but there should be little downside for PTQ from here. I would suggest that you use PTQ stock as you savings account since you could always sell it quickly if the need arises.
Your analysis makes sense.
I am not too concerned about the "tax man" in Panama, and this developed aggregate source is the only one within 50 Klm. or so.
This might provide a little wiggle room for the arm's length pricing.
Being in Panama PDI definitely has the legal edge over foreign companies for work. Your are definitely correct that almost no one
realizes the potential of PDI, or even how large and fast it can grow in Panama. Even the opps. building at Molejon signage was changed from PTQ to PDI. Inside joke was, "Who are you guys actually working for?". Answer of course, "Quien paga mejor!!!"
Management confirmed to me their intention to expand PDI outside Panama and use them in Spain, perhaps in Portugal too.
PDI is not expected to be listed for at least 12 months after the spin out takes place. By then CD will be back in power and money from the canal expansion will be flowing into direct infrastructure contracts awarded by the Executive Branch. This is what is driving PRD nuts!!!
Once I was a regional overseas GM for a fortune 100 company that operated in over 90 countries. Heated discussions are not exactly the words that come to mind. Never mind the cost/unit, politics, both internal and external, were always a factor!
I think three more years for PTQ to really flourish and five years for PDI is a pretty good estimate. Wonder what the price of gold will be by that time???
Let's see what tomorrow brings!
Welcome to IH DigiTech.
I am not sure about the spin out of PDI. The company has kept the numbers separate for some time now and has been talking about this matter for several years. Once in 2010 or 2011 I think the date for a vote was filed, but then canceled for what I remember were very good reasons. Then in 2012 preliminary PR another date was committed to also. I think if they come up with the financing they will have to go forward. However, I certainly see the merits of not doing so if that will help the FCF from the sale of aggregate.
My question is: Can they not protect that free cash flow by using the price point between PTQ and PDI for the aggregate? Spinning out this relatively small contributor to the overall revenue of the company would seem to simplify the whole process, as it seems to take up more time and effort that could be used elsewhere.
The drop in the price of gold certainly made the Red Kite deal much less attractive. They were wise to just let it die IMO. The increase that we now see in production also makes the DB deal less offensive.
Glad to see someone with some knowledge joining us here.
I am also tired....
Of people who have no education, experience, knowledge, or information about the company, passing judgement on executives who have outstanding credentials, years of mining experience, intimate knowledge of the industry, and complete access to all operations data, plans, challenges, and budgets, thereby dismissing them as fools, idiots, frauds, etc.
Of people who have never even been to Panama or Spain speaking ex-cathera, and criticizing matters about which they are totally ignorant.
Of people ridiculing our latest board member and denigrating his family and past...go read the posts for yourself.
Of people obviously posting lies when they are well aware of the historical record that is there for all to see.
Of people making totally untrue and illogical statements as to actions taken and purposely driven misstatements of facts to mislead others who may not be informed, but are of good heart.
Of people too lazy to do any due diligence or analysis themselves yet feel free to criticize others who do and bring that information to the board. If we spend our own money on research and travel to Spain, Portugal, Panama, and attend conferences and meetings with management, we are criticized and ridiculed when we share information we have gleaned with the board.
As a result of the above I, an others of like mind, have established our own network outside the board, where we are able to intelligently share and discuss information that helps all of us understand the actualities of the situations, and take full advantage of the opportunities those exchanges afford us. At one time, before our moderator lost interest and moved on to pursue his own career, there could be found value here. Now...not so much.
If one shares accurate information, it falls on deaf ears and one is taken to task at every turn. That is the board's loss...not ours.
Remember: Answer not to an unwise man according to his lack of wisdom, lest thou become like unto him; but answer a fool according to his folly, lest he appear to himself to be wise. Speak not in the ears of a fool, for he will despise the wisdom of thy words.
Have a great weekend.
You are, but my Firefox went down.
I went to Internet Explorer and all the bad pennies resurfaced.
Buy another 500,000 shares today? Or are you selling and shorting now that no one will do business with us thanks to your intervention. At least you are important in your own mind and almost a whole seven days old now with twelve whole posts and zero DD. If you look to a board for credibility, then you really are a sorry little fellow. Your regular job washing cars in front of the Cuban Embassy? LOL.
No one will do business! Shutting down plant.
For anyone interested in Portugal,
SH has posted two articles about our second Portuguese mine, the latest from April 2, 2013. Maybe some newbies will want to so some DD of the history of this successful competition. One of our friends was there recently and mentioned it. Thought some might be interested, if not interested please don't criticize sharing information.
Here are the links for those who have not been doing DD and following this all along since last July when we entered into the JV and won the concession exploration rights. Thanks again to our fine management team and BOD.
Canadianos vão explorar ouro em Trás os Montes - Expresso.pt
5 jul. 2012 ... A área de Jales/Gralheira é uma zona tradicionalmente reconhecida pelas ...
pela Almada Mining, detida pela empresa candiana Petaquilla Minerals Ltd
cotada na bolsa de ... O subsolo em Portugal até podia estar cheio de ...
expresso.sapo.pt/canadianos-vao-explorar-ouro-em-tras-os-montes=f737724
ForumDefesa.com • Ver Tópico - Sector Mineiros/Extrativo
Na altura, um responsável da empresa criada em Portugal para avançar ..... Sete
empresas interessadas nas minas de Jales/Gralheira .... A Almada Mining SA (
detida a 100% pela empresa canadiana Petaquilla Minerals ...
www.forumdefesa.com/forum/viewtopic.php?f=22&t=10241&start=30
Vila Pouca de Aguiar aguarda com "expectativa" reinício da ...
4 fev. 2013 ... No planalto de Jales, Vila Pouca de Aguiar, aguarda-se com muita expectativa ...
A Almada Mining SA (detida a 100% pela empresa canadiana Petaquilla
Minerals ... experimental de ouro pelo período de três anos em Jales/Gralheira.
... de 90, foram as últimas minas de onde se extraiu ouro em Portugal.
online.jornaldamadeira.pt/artigos/vila-pouca-de-aguiar-aguarda-com-expectativa-reinício-da-exploraçã...
Ouro: Jales na expectativa - Última Hora - Correio da Manhã
4/02/2013 No planalto de Jales, Vila Pouca de Aguiar, aguarda-se com muita expectativa o
... A Almada Mining SA (detida a 100% pela empresa canadiana Petaquilla
Minerals Ltd) ... experimental de ouro pelo período de três anos em Jales/
Gralheira. ... Portugal,portugal que deu mundos ao mundo,agora vendem-te até
ao fundo.
www.cmjornal.xl.pt/detalhe/noticias/ultima-hora/ouro-jales-na-expectativa
Empresa canadiana investe até 66 milhões na mina de ouro de ...
5 jul. 2012 ... Almada Mining e EDM foram as vencedoras do concurso que lhes permite
explorar a mina de ouro e assim criar 350 postos de trabalho ...
www.dinheirovivo.pt/Empresas/Artigo/CIECO051826.html
Exploração de ouro vai iniciar-se em V. Pouca de Aguiar
8 fev. 2013 ... No planalto de Jales, Vila Pouca de Aguiar, aguarda-se com muita expectativa o
... A Almada Mining SA (detida a 100% pela empresa canadiana Petaquilla
Minerals ... exploração experimental de ouro pelo período de três anos em Jales/
Gralheira. ... Av. Elias Garcia 57 - 7º • 1049-017 Lisboa - Portugal ...
www.mundoportugues.org/content/1/11094/exploracao-ouro-vai-iniciarse-pouca-aguiar
Exploração de Ouro regressa a Jales a 15 de Fevereiro
11 fev. 2013 ... A empresa canadiana, Petaquilla Minerals Ltd, detentora de 100% da empresa
Almada Mining SA, iniciará a partir de 15 de Fevereiro a exploração
experimental do ouro, por um período de três anos em Jales/Gralheira. ... sendo
até à década de 90, uma das principais minas de ouro em Portugal.
www.noticiasdevilareal.com/noticias/index.php?action=getDetalhe&id=15153
Canadianos começam a explorar ouro em Vila Pouca de Aguiar ...
4 fev. 2013 ... No planalto de Jales, Vila Pouca de Aguiar, aguarda-se com muita expectativa ...
A Almada Mining SA (detida a 100% pela empresa canadiana Petaquilla
Minerals ... experimental de ouro pelo período de três anos em Jales/Gralheira.
... de 90, foram as últimas minas de onde se extraiu ouro em Portugal.
sol.sapo.pt/inicio/Sociedade/Interior.aspx?content_id=67569
trás-os montes: o ouro de vila pouca - Regionalização
7 fev. 2013 ... No planalto de Jales, Vila Pouca de Aguiar, aguarda-se com muita expectativa ...
A Almada Mining SA (detida a 100% pela empresa canadiana Petaquilla
Minerals ... experimental de ouro pelo período de três anos em Jales/Gralheira.
... de 90, foram as últimas minas de onde se extraiu ouro em Portugal.
regioes.blogspot.com/2013/02/tras-os-montes-o-ouro-de-vila-pouca-de.html
8 de Fevereiro de 2013 - Parada de Aguiar - home - Sapo
8 fev. 2013 ... No planalto de Jales, Vila Pouca de Aguiar, aguarda-se com muita expectativa ...
A Almada Mining SA (detida a 100% pela empresa canadiana Petaquilla
Minerals ... experimental de ouro pelo período de três anos em Jales/Gralheira.
... de 90, foram as últimas minas de onde se extraiu ouro em Portugal.
paradadocorgo.blogs.sapo.pt/2013/02/08/
Thanks Geico, worked fine. Share price drops!
Good news and share price immediately drops. Some things never change. Most important numbers on page#16. That is one billion six-hundred eighty-eight million dollars of AuEq. at today's prices.
Anxious to see that LP report move it to M&I.
Guys,put up Spanish because of graphs.
I put this up in Spanish because of the images of our gold, graphs, and export history diagram. It did not transfer anyway. It is up on SH. Quiet day today. Only PR this month was the notification of filings and synopsizes required by regulation. Conservative forecast and that was it. Probably no more news now until the LP NI 43-101 before the end of the quarter. This year went by so quickly. The idea that we hold onto PDI and use the aggregate profits to fund LP makes a lot of sense. Maybe that is how things will end up. No word of any new financing coming out of Zurich over the weekend. Just a niece peaceful day in the neighborhood.
Exportaciones se afectarán ante caída histórica del oro
19 | 04 | 2013
La cotización del metal dorado cayó 24% luego de haber ascendido por 11 años consecutivos y llegar a máximo de mil 900 dólares la onza. Aunque en otras partes del mundo las mineras han tenido que cerrar, Petaquilla Minerals afirma que su operación sigue siendo rentable.
Exportaciones se afectarán ante caída histórica del oro El oro ha dejado de ser una inversión de refugio seguro por lo que los analistas internacionales han advertido a los inversionistas que el precio del oro podría mantener su ritmo bajista.(BLOOMBERG)
R. Berrocal/ V. Barrías (economia@epasa.com) / V. Barrías
INFOGRAFIA
Ampliar imagen
6,000 onzas mensuales de oro está produciendo actualmente Petaquilla Minerals en Panamá.
115 millones de dólares alcanzaron las exportaciones panameñas de oro en el 2012.
La fiebre del oro tuvo una fuerte bajada de temperatura esta semana, luego de subidas en su cotización por 11 años consecutivos. Los precios del metal dorado se desplomaron al mínimo de hace dos años, pasando de mil 900 dólares la onza a mil 360 dólares.
La situación ha provocado que se registren millones de dólares en pérdidas en las empresas cuya actividad está vinculada directamente al comercio de este metal y hasta obligado al cierre de varias minas.
Por ejemplo, ayer la agencia de noticias Bloomberg reportó que Barrick Gold Corp. y Newmont Mining Corp., las dos mayores compañías productoras del mundo, en conjunto han perdido unos 169 mil millones de dólares de valor de mercado desde que el oro alcanzó su nivel más alto en 2011.
En Panamá la caída del oro tiene un gran impacto económico, ya que se trata del principal producto de exportación con más de 115 millones de dólares anuales y con fuertes perspectivas de crecimiento.
Petaquilla Minerals, quien opera la mina de Molejón en Panamá, dijo que para ellos el precio que mantiene actualmente el oro aún es rentable, ya que su costo de producción está en 600 dólares la onza.
“Sabemos que para otras minas en el mundo con costo de producción arriba de los 900 dólares la onza el panorama no es muy bueno”, dijo una fuente de la minera.
Sin embargo, manifestó que las proyecciones en Petaquilla Minerals son de que los precios del oro se mantendrán estables y que no seguirán cayendo drásticamente. Esta minera produce 6 mil onzas de oro mensualmente y espera cerrar este año en 80 mil onzas producidas. La compañía anunció que obtuvo de las operaciones 6.6 millones de dólares en ganancias durante los tres meses finalizados el 28 de febrero 2013, y 19.4 millones de dólares en el acumulado de los nueve meses finalizado el 28 de febrero de 2013. “Estas ganancias de las operaciones representaron incrementos de 1.220% y el 92% en comparación con el mismo periodo del año fiscal 2012, respectivamente”, destacó Petaquilla Minerals.
Economistas locales afirman que la caída del precio del oro se verá reflejada en el valor del total de las exportaciones panameñas, que este año esperan superar la barrera de los mil millones de dólares.
Panoramas
Las razones de la caída de los precios de este metal a nivel internacional son varias y complejas, de acuerdo a los analistas internacionales.
El oro tocó su cotización más alta en septiembre de 2011 con mil 900 dólares la onza; desde entonces, los precios han caído un 24%, paulatinamente, debido a que se fue perdiendo poco a poco su atractivo como refugio de inversión, pues la crisis de deuda de la eurozona se ha estabilizado y las diferencias presupuestarias en el Congreso de Estados Unidos se han minimizado.
El diario estadounidense afirmó que las acciones corporativas se han vuelto atractivas para los inversionistas que buscan mayores rendimientos, desalentando la demanda por el oro.
Pero el lunes pasado el metal dorado sufrió una de sus bajas más drásticas en su cotización influenciadas por la caída de la demanda del oro en China y el anuncio del gobierno de Chipre de que saldrá a vender una parte de su reserva de oro como salida a su crisis financiera.
El viernes pasado, los precios cayeron 5%, provocando la venta masiva de estas inversiones; situación que se agravó el lunes pasado, cuando los precios del metal cayeron más de 9%, hasta los mil 361.70 dólares la onza.
China, el principal comprador de oro en el mundo, anunció el viernes pasado que sus proyecciones de crecimiento económico por arriba del 8% no se cumplirían y que las cifras serán inferior a lo esperado.
La situación de Chipre complica el panorama, ya que ha levantado los temores de que otros países en crisis de la zona euro, Italia, España y Portugal, también recurran a vender sus reservas de oro para pagar su rescate financiero.
Chipre cuenta con casi 14 toneladas de oro, que equivalen a 530 millones de dólares, según información oficial.
Los bancos de inversión ya habían advertido de posibles sobreprecios en las cotizaciones del oro.
Goldman Sachs recortó su precio de tres meses para la onza de oro de mil 615 dólares a mil 530 dólares y redujo su pronóstico de 12 meses a mil 390 dólares desde mil 550 dólares.
El 2 de abril pasado, Societe Generale advirtió de una "burbuja" del oro.
“El banco, junto con Barclays y Credit Suisse, está entre aquellos que pronostican precios promedio más bajos en 2014 que los alcanzados este año”, reportó la publicación “Expansión” de la cadena internacional CNN.
A perfect rebuttal to the whiners here!
This is courtesy of Oullins on SH. One clueless here complained for years that forecasts were too optimistic and wanted them lowered. Then he immediately cried and complained because they did lower them. Constantly harangues against our very professional management team and hurls insults at our chairman. Get a life fool!!!
"We should give a break to a company that has been delivering profit and growing for quite some time now. I can guaranty you they will have some more problems, I can guaranty you that the Spanish gold will be late or that something else will not go as planned but I am very confident about the upward trend of this company. We either believe that we are invested in a growth company that will make us money or we get out. It's your choice, I made mine. We have a leader with a long term vision and a great management team both in Panama and Spain to support that long term vision. I met every one of them and it is my opinion."
Hey acanuck, give him credit for trying.
Just made my ignore list along with Jal, Goldpet, and PMC. I suspect he is a disgruntled ex-Inmet guy. Maybe Mr. J. Tilk himself. I hear he lost his job!!! At least I gave him the benefit of the doubt and let him hang himself. Excuse me, while I buy another 500,000 shares and try to shut down the company at the same time....
Thanks for your response.
So then, I understand that UBS and PTQ are on friendly terms at the moment. Can you give us an idea of the magnitude of the A/P that you are concerned about? The audit group at Ernst&Young assured us that if there was anything material to be concerned about, it would have been addressed in the MD&A. I am sure you know they review everything during the year, and then perform their complete audit at the end of the FY when they issue their opinion. We have spent time and effort turning over many rocks and talking with people. No one seems to be aware of this problem that you raised. What other such occurrences can you share with us? Who are these other service providers that have claims against the company? There is nothing in the public record nor past audited filings.
"...but then they don't pay the contractually agreed fees . Same has happened to other of there service providers in the past. I think if this continues they will have legal problems and no serious financial institution will work with this company. Mark my words. Beware RedKite and any others. These people don't pay for services rendered to them."
YOUR STATEMENT IS A WARNING TO RED KITE NOT TO DO BUSINESS WITH THE COMPANY. STRANGE THAT YOU WOULD ISSUE THAT, AT THE SAME TIME YOU WERE BUYING 500,000 SHARES. DO YOU REALLY WANT GLOBAL BANK, METRO BANK, BANCO NACIONAL, CATERPILLAR, RED KITE, AND OTHERS WHO DO BUSINESS WITH US TO STOP??? I CANNOT FOLLOW YOUR LOGIC IF YOUR ARE LONG AND JUST ADDED ONE-HALF MILLION SHARES THIS LAST WEEK TO YOUR PREVIOUS HOLDINGS. I NOTICE THAT YOU HAVE JUST JOINED THE BOARD AND WONDER WHETHER YOU HAVE BEEN FOLLOWING US FOR YEARS WITHOUT POSTING. Alias Born 04/17/2013 11:10:52 AM ONLY TEN POST INCLUDING TODAY???
Progafa, I see you are in a Latin Country.
Hoñe
Careful with that keyboard!
Could you please provide some details? UBS says they do not have any outstanding issues with Petaquilla and do not contemplate any future problems. What is the magnitude of this "refusal to pay" issue? I spoke with their VP of Private Client Services just a few minutes ago. Likewise a member of management in Zurich denies there are any problems. What is your source? With the internet people can search very quickly, and we cannot find any issue as of yet.
"Added 500k shares @ .35 CAD this week."
Suspect your nose is growing????
Hi Progafa, Our circle is long also.
About 11 years for most of us. Together we hold about 30 million shares so I guess that makes us significant. We are happy. We will not sell out the company. We feel that we have excellent management and a great business plan.
For whatever its worth...we do not consider you concerns to be worrisome. We like that our working capital deficit is being lowered substantially, especially last quarter, and have total confidence in Ernst&Young who monitor the efforts, accuracy, and ethics as a third party. If you are concerned I would advise you to sell and move on where you are more comfortable. If you are as long as many of us, some of your shares must have cost only a few cents. (i.e.<$0.10).
I accept that there was confusion on my part as to the accusations you were making due to language. We do not see any problem, in any case, for the foreseeable future. For us: PETAQUILLA ES PANAMA! It will be so for at least two generations, and more if we are able to acquire concessions for the copper in the Comarca someday.
No problem gabbs, enjoy needling you back!!
However, with a straight face.....
$0.355 is a buying opportunity!!!!!! You only lost because you sold and now you can get back in and have even more shares than when you sold at about $0.50!!! You still can be a HERO with you relatives and invite them back to dinner at your house next Christmas!!
Good luck to you...
Glad to see you understand!
Actually it has been a buying opportunity since it moved below $1.39! I can't take them all!! Do you want to help. Hope to get to two million shares before warrants expire!! Then it may move back up. In any case it is selling for less than two times forward P.E. Ratio. Show me a better opportunity if you can!!!
UBS was paid in full as per agreement.
"UBS has acted as financial adviser to Petaquilla and the Board in connection with the Offer. Under its engagement letter with UBS, Petaquilla has agreed to pay UBS a fee for UBS’s services, a portion of which is payable in connection with the UBS Opinion and a significant portion of which is contingent upon certain events, including the closing of the Offer or an alternative acquisition transaction. The Board took this fee structure into account when considering the UBS Opinion."
Obviously, the HT was not successful, nor was there an alternative transaction. The is no issue and there is no problem. Just another mindless, clueless effort to cast aspersion on the company. The gullible, to lazy to check the facts, will probably believe this tripe. We have had some crazy stuff promulgated on the site, but this one was really a stretch. As to the other cases...there are none.
The one small dispute with an ex-employee for $250,000.00 several years ago was settled with a no fault payment, at a cost of $25,000.00 for PTQ as reported in the MD&A. Lightweight accusation from a lightweight poster. He will find some others here with the same intelligence. One in particular.
Any truth to the rumor?????
Loji was kidnapped in Tucson and taken to Mexico where he is being held for ransom!! Later I will post a P.O. Box were concerned posters can send money as we search for our lost leader!!
UBS never hired to defend PTQ.
Bottom line: No cases, no facts, no contingencies, no substances to your charges.
JUST A VACUOUS SPEWING FROM A QUESTIONABLE SOURCE.
Neither post lists UBS engaged as defense counsel.
They appear to have been hired to review the offer and write an opinion. Please respond to the other cases where legitimate defense counsel was engaged, defended PTQ, and were not paid. Disputes over quality of reports are common. Failing to pay defense counsel is another matter. Please support your accusations.
We have now spoken with the law firms that have represented PTQ over the past five years, and can find no disputes or variances from their Letters of Engagement. Please provide (1) Firm names. (2) Jurisdictions. (3) Case Numbers. This is a very serious matter, and we need to know what you have as evidence they have breached Letters of Engagement.
"Same has happened to other of there service providers in the past."
Whom? What? When? Where?
I assure you large investors want to get to the bottom of this immediately. Certainly, before any meetings are held in Zurich tomorrow.
Contingencies in Q3 MD&A make no reference to any of these legal disputes you refer to in your accusations. And list no cases that will have a material effect on operations.
I was not aware UBS bank defended PTQ.
All the court records I have reviewed indicated they were represented by licensed law firms in Canada, Spain, Portugal, and Panama.
This is indeed an extremely serious accusation.
"Same has happened to other of there service providers in the past."
Could you provided us with a list of cases and case numbers in the four jurisdictions wherein these matters were adjudicated? Such malfeasance could well shut down the company and put the BOD and upper management in jail as happened to CISCO in Brazil and Inmet in Spain. I spoke to the head of the largest Latin American whistle-blower law firm just now, and he is not aware of any of these cases.
In addition, this violates many of the contracts and agreements with other entities including the large banks in Panama, one of which just lent them $3MM last month, and would put all of their existing operation ventures in jeopardy. Have you discussed this with PTQ or any members of upper management who are holding private meetings concerning future funding in Zurich tomorrow?
Please share what you have uncovered with all of us!!!
Received your PM. You still don't understand!
There is a difference between trading and investing. I have lost nothing from any purchase under $2.00/share, since I have not sold anything. I did take tax losses a couple of years ago on +$3.00/share stuff, but then bought back after wash sale restrictions ran their course. Actually I think I got more shares as the price dropped after I sold.
When you are investing long term you just accumulate shares as cheaply as possible with your FCF. I think it may take another five years for this company to really live up to its full potential, but it makes no difference as long as we get there. There is so much expansion ahead of us. So I have lost nothing, just as I have made nothing on the shares I bought years ago under $0.05!!
I guess this is just to tough a concept for you to get your head around. We invest for the future, for ourselves, and our families.
The mining sector in Panama is just in its infancy! So we buy PTQ and now FQM also. That is how you build and maintain wealth, not by chasing a chart. Do you really think it will matter what the price is today five years from now?? Only in the sense that it was truly an opportunity to participate further in the sector.
Fundamentals are growing steadily. Each year we are bigger and stronger. We have a great management team with the proper vision of what this opportunity really means, and we are well satisfied.
We are not amused with the insults and attacks wreaked upon ourselves and our team...but then we consider the source.
Good Luck with achieving your goals...it is just they are different from ours. We will be here and in mining in Panama as far into the future as we can see.
Do you honestly believe there is a relationship?
Whatever...I have been buying everything I can at these prices and the last was a $0.3557! For what you do to convince lemmings to sell the "dog" as the company has been called here, I thank you and so will my children and grand children!!! Would love to get a lot more, but why did this great chance come right at USA tax time???
Yes, some of us do actually pay on April 15th and are not so stupid at to give the government free money and get a refund. USA, only country in the world that taxes income no matter where or how you earn it. At least they spend all of the money wisely!!! Could borrow some money, but that is something we just don't do around here. Whether a house, a car, or a horse...always pay cash!!! Never pay interest!
TOO MUCH GOOD NEWS!! DROPS $0.04 TSX!!
You can buy this baby for $0.35 now down from $0.39!! When the new NI 43-101 comes out doubling revenues we may drop to $0.30!!!!
JFF7 are you on top of this relationship???
That was a quick +10% drop and our market cap took a multi-million dollar hit. Wonder if a clown will now come and say FQM will HT us for $0.50???
VB you must use easier words!!
I will bet the idiot doesn't even know the English word "maron"!!
I had to think for a moment but then remembered the definition as a "demon", the "devil", and "evil one", "possessed by an evil spirit".
Nice shot...fits him perfectly!! Or were you using the good old NYC Italian pejorative, "maron, fugeddaboudit!!!" which is, of course, of English origin. Either way good job!!
I think I have to take him back off ignore!! Just reading half of the exchange with germaninvestor let me miss much of the entertainment. But, then again...it is the same old mindless complaints. I bet I could write his posts. Same old stuff just like PMC. Actually though he is more of a scooch than a maron...more of a scoochi-di-bandanz.
Hi 'german investor' don't be trapped!
The fellow you are trying to educate has no shares and very little education. He has been around for years and some of us have him on ignore. He is the PMC of IH. May be the same fellow. Just put him on ignore like the rest of us and the board improves. You waste your time with him. He has never been involved with any mining operation and knows nothing about Panama or Spain. Just a word of advice. Those who know what is happening have large investments in the company and are very happy with the results to date.
habe einen guten Tag!
joverke, re-read slowly...
Earnings without recognition of Inmet relief would be three times what you posted. We were shut down part of December as the expansion was folded into the operations. Otherwise we would have produced over 21,000oz. AuEq. and will in Q4 that is already half over. PDI with Metco got a new road to build and one of the permanent camps. Obviously they were satisfied with the job on the by-pass road. Look at the four fold increase in the PDI revenue stream. There are now $29,000,000.00 in assets set aside for PDI. With 52,000,000 shares you can do the math. Heap leaching has proved itself on large scale and will be fully commissioned mid-FY 2014. That will be before end of calendar 2013. Remember that is $450.00oz. AuEq.. Stockpiled ore continues to accumulate with no additional mining costs for that ore. Red Kite looks iffy, but is it due to PTQ or Red Kite having problems? Behre Dolbear NI 43-101 on LP coming soon and will double reserves in Spain, bringing back open pit.
As to short term borrowings, that is certainly not unusual and no big deal. Sometimes cash flow does not match obligation in the short run. Read the information about projected cash flows and income for operations.
Unfortunately, we are currently at the mercy of those selling anything with 'gold' in its name. Even cereal companies!!! We are very profitable at $1,300.00/oz. and easily make up the lost revenue from a higher price with higher volume. We now have $0.10 EPS in the bag, same as all of FY 2012, with 4th quarter to go. That will give us a great YoY improvement. To achieve that at the same time we expanded operations is a feather in the cap of management! With expansion and higher gold grade FY 2014 should be above $0.15 EPS with gold at its current level. The most important things now are to get additional financing to spin out PDI and expand in Spain quickly. That is why the Duke and Doctor are in Zurich and talking about Spain's opportunity.
Share price may not move much until GDXJ recovers. PTQ never trades on fundamentals.
We did quite well today.
T.PTQ in Canada the big exchange was down only 7.5% while GDXJ was down 12.51% and is still going down after the close. The usual whiners will be out in force, but they are insignificant. Hope you made it to Zurich. We have top flight representation. Oullins is still AWOL but should chime in soon.
GUTE NACHT! Man schlaft gut!
Nice to read Heap Leaching going well!!
Lot's more great ore stockpiled! Full commissioning in FY 2014!! Don't forget that is $450.00/oz. cost and will help offset the cost of the Spanish ore. Great job by good management. Now all should be happy about heap leaching disclosure. Yield are excellent from the test pad you can see in the last photos.
Also noticed that PDI set asides grew substantially. I calculate that to be about $0.46/share book value on the Balance Sheet. Nice to see we got a new road to build, and now are building camps for Cobre Panama. If FQM likes Metco's work our JV will really begin to pay off with Cobre Panama.
Forecast have been reduced as has been suggested by several to ensure that they are well within reach. I am sure everyone will now be happy to see the more conservative approach. All in all, nice steady progress on the road to success. Now about that price of gold....will blowing up Boston hurt or help???
Meh..13MM is relief of royalties.
That is not settled with FQM by any means, yet we have booked it.
PDI still way off since no financing is in place. Bet Jal doesn't know his supposed friend is part of the company now, and is in Zurich representing us. Got tired of his calls I guess. We have three top guys there hoping to generate some interest. Progress is slow but steady with 75-80 thousand this year and 90-100 thousand ounces for FY 2014. For sure we hit it in FY 2015. 150 thousand in 2016 with help of Spain. We had a little boost in January from the expansion, and more in February. Forecast 20% increase from here. We were down a good part of December taking care of maintenance and bringing expansion on line. Good job well done. Heap leaching will not be commissioned until FY 2014 in second half. By then we will see the 1,500oz, per month from there.
Had a lot of fun pulling the chains of the ankle biters and got some really cheap shares. However, did not expect them to get this cheap until the gold bubble burst. Will continue buying heavily below $0.40. Got to thank those who just sit by and bitch, but at least don't compete for all these beautiful shares!!
What a gift!!!
WHY WOULD WE ACTUALLY SHARE WHAT WE KNOW WITH THIS UNGRATEFUL GROUP OF MANAGEMENT HATERS. THE CLUELESS DID NOT EVEN KNOW WHEN THE PLANT WAS SHUT DOWN IN DECEMBER. GOT TO LUV' THEIR FLOUNDERING ATTACKS BORN OF COMPLETE IGNORANCE. THEY HATE THOSE THEY MUST DEPEND ON TO ADVANCE THE COMPANY. GOT TO BE ENVY. THE GOOD DOCTOR AND THE DUKE WILL GET IT DONE!!
Yeah, since 4:07PM!!
Peta, rules! What a bad day to have a $0.07 EPS, as the best quarter ever! Can't get a break it seems.
Have fun complaining about management...
No sweat Geico.
Just a good time to buy PTQ or FQM for that matter.
As of 1:31 PM EST no filings made by Petaquilla or requests for extension. They only have a few hours to fish or cut bait. My advice would be to file for an extension as any news would be overshadowed by the gold bubble burst. Several people have requested clarification from IR.
JFF7 LOL!!!! Did my best!!!
Looks like this is about the bottom. Time to get out the rake!
Need a bigger wheelbarrow to get all these gifts! It is like someone hit a 4000lb. pinata!! Check the volume! Looks like a lot more short timers here than I thought. No body with any brains is selling this stock, but then lemmings have very small brains and little education...sort of like the one poster I have on ignore! LOL!!!
Good idea...think I'll go fishing this afternoon. Pretty much gotten all I can out of this today.
Saludos,
JFF7,I think you nailed it.
You can safely say we are not trading on fundamentals. If Peta is right we are trading at a PE Ratio of 2.18!! Nothing like watching the lemmings run over the cliff. I have been trying to give them a little shove this morning, so maybe we will pick up a few oranges at $0.34! I talked to a couple of serious guys this morning and they are buying as it drops. Forward quarters should be much better than Q3 with all maintenance finished, equipment up to brass plate, and higher grade ore at Molejon and coming from Spain.