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AND THERE IT IS: PTQMF TRADING $0.3554!!!
NICE TO BE RIGHT ON PROJECTIONS!! Now we will see those pesky warrants go away and our long term expectations for the share price should still be valid. Lots of money to be made as weak hands drop out and the warrants at the end of the year expire. Did anyone notice that our Q3 numbers are not filed on SEDAR? They need to file by 5:00PM or get that 30 day extension!
PTQ TRADING AT $0.352 DOWN 12.42% GERMANY.
Volume six time normal for day.
TOLD YOU SO!!!
Come on you ankle biters!!! Capitulate and sell us your shares!!!
We are sitting here with plenty of cash available!! How about $0.25/share???
PTQMF BID @$0.381. TOLD YOU!!!
SELL, SELL, SELL....
I said it would open at $0.37 when it closed at $0.42. We will be lucky to hold that today. Goldpet posted on SH that Q3 numbers were terrible!!! I had not heard that at all, so he must have the inside track!!! Peta apparently did not hear that either!! Goldpet said that was why the company refused to release production and earnings!!!
Maybe you are right...
I expect $(0.01). We had some problems during the quarter, and Q3 is usually weak. Not sure either number will impact the SP. Trend for miners is down and posters here say we have the worst of the worst management. Are they blowing smoke or will they sell?
JFF7, POG blew through $1,400.
So much for technical support. Worry at $1,300.00. We may want to keep DB after all!! Look for PTQMF support at $0.23. If it goes below that you will see a nickle soon as all the little guys give up. Things will be much more quiet in the future. Isn't it nice that we sell gold and don't buy it. Look at all the extra cash we made during the bubble!
No Public Filings made over weekend on SEDAR by Petaquilla. Let's see if they file for a thirty day extension today. Peta says EPS of $0.04, that would be better than at least the last five quarters. Hard to believe.
THE SCARY NUMBER BEING REPORTED IS $1,200oZ.
Many gold producers will struggle to stay afloat if the gold price slumps below $1,200 analysts have told CNBC, potentially putting the gold mining industry at severe risk beyond 2017, according to Goldman Sachs predictions.
The much talked about decline in gold continued on Monday, with spot prices falling $1,400, compounding fears the 12-year run in the precious metal has finally come to an end.
Gold miners were especially hard hit, with a sell-off in the sector in Australia, China and the U.K.
But at what point does the demise of the gold price make gold miners uninvestable?
"As you get closer to the cash cost production for gold, which is around $1,200 an ounce, people get nervous," Jonathan Barratt, founder of Barratt's Bulletin told CNBC.
James Sutton, client portfolio manager of the J.P. Morgan Natural Resources fund, agreed, telling CNBC: "The level where we think the gold mining industry will struggle is $1,200."
While he said gold may not reach those levels, the fund was taking precautions, trimming its gold holdings to lows not seen since the financial crisis.
"Gold is now just over 20 percent in both the European and U.K. portfolios, which is a meaningful step change from where we were last summer when we had 31 percent, and it is the lowest weighting we have had in gold since the financial crisis," he said.
As mine production makes up just 10 percent of the gold industry, people could still gain exposure to gold through many different avenues, but many businesses extracting gold from the ground could fold, he added.
"It is around about the $1,200 we think the gold industry as a whole struggles, but there are many companies that can still survive and be profitable," said Sutton "If there was a further deterioration in the gold market, then our portfolio would become even more concentrated in those stocks that we thought were going to be the last men standing."
Goldman Sachs, which downgraded its gold price target and advised investors to short the precious metal earlier this week,said its long term price forecast from 2017 onward is $1,200 and so recommended producers lock in current gold prices for 2013 and beyond.
"Over that horizon forecast, we expect U.S.real rates to stabilize and see risks to U.S. inflation as more symmetrical.And while higher inflation may be the catalyst for the next cycle in gold prices, this is likely to be several years away," analysts led by Damien Courvalin said.
Gold Investors Battered
For investors in gold mining funds, 2013 has already been a very bad year.
Globally, gold mining and resource funds are down 10 percent on average in just the first quarter, before the latest falls,with the worst performing fund down 22 percent, according to investment research fund Morningstar.
In the U.K., eight out of the ten worst performing funds in first quarter were gold and resources funds with an average loss of 12 percent, compared to the FTSE 100, which rose 9.29 percent over the same period, according to Morningstar.
HAVE A GREAT DAY SHORT TIMERS!!! LOL!!
You think? Wait until tomorrow.
If they ask for an extension of thirty days, that will be automatic, to file the Q3 reports, there will be a gnashing
of teeth, and tearing of clothes on this clueless board! Do you know whether or not our people went to Zurich, or did we cancel?
New Corporate Presentation and Fact Sheet scheduled for Pre-Zurich publication was canceled. Anyone wonder why? Those who know are definitely not sharing any longer. What is the capitulation number?
$0.23??? We traded at $0.02-$0.04 for a long, long, time. Would be interesting if we went there again until this is all sorted out.
To align with median GDXJ...
PTQMF should open at $0.37. Since most here say our company and management are perhaps the worst in the industry, perhaps we will see the magic $0.25 bottom later in the week. Why with such a group why should we be expected to hold the median. Looks like a wonderful time for those who believe in fundamental value. For the rest, ride it on down cowboy, until you finally capitulate and give us your shares!! New numbers to complain about tomorrow. We will hear the screaming all the way down here if we sold less that 11,000oz. and actually had a negative EPS!! OMG!!!
LOL! Rumors from the trolls!
1. FQM cancels commercial agreement with PTQ.
2. FQM announces construction of seven quarries for aggregate.
3. LP cannot be de-watered due to heavy rains.
4. Heap leaching in Panama is a failure.
5. Gold ore grades collapsing.
6. Portugal cancels permits.
7. Bridge access to Molejon washes out with return of rain.
8. Q3 production less than 10,000oz.
9. Ball mills shut down due to earthquake.
10. Indians storm plant and hold employees hostage.
11. Red Kite cancels loan.
12. Ship with ore from Spain sinks.
13. Panama raises taxes on gold 50%.
14. Global Bank calls loan.
15. Stockholders rebel, fire mgmt.. Hires high school drop outs!!
Have a nice weekend...SEDAR news Tuesday at latest.
YoY today +4.88%, 2 Yr.T-Bill 0.23%
I am taking small bites below $0.44.
Split between PTQMF and lately buying FQM as a second equity investment. You can be sure that many people now know "What's up Doc?" and are aware of Q3 data. A little fruit keeps falling from the tree every day with nice low volumes. Somebody has to pick it up. Sin to waste it and leave it lying all over the grounds. All the news has been held back for a reason... not just by chance. By law a lot will be released by Tuesday and Wednesday. Two years ago I said anything under a dollar was a gift. Still true today. Those who have not accumulated at these prices will get what they deserve! Trolls complain with or without news, so why waste the effort.
Behre Dolbear Report.
PDI News.
Red Kite news.
Current Production Rates.
Q3 Production.
Q3 Revenues.
Exploration Results.
New Acquisition.
New Commercial Agreement.
Aggregate Sales.
New Corporate Presentation.
New Fact Sheet.
News from Portugal.
Ore from Lomero-Poyatos.
Copper Agreement.
Equipment Purchases.
Lease Agreements.
This is the typical BS & lying here.
gabbs sale was recorded on the IH my stocks section and discussed with him in several posts about 139 days after it was reported. Even the sale price was discussed. Here is his latest reference to his sale! He posted the confirmation himself on March 15, 2013 at 5:53 PM Now he questions who disclosed what information or not????
Perfect example why this board has become useless and without ethical control. Just a bunch of pathetic losers.
Only about five honest people out of all the followers. The old troll hasn't had any shares for years since he had to borrow money to cover his butt. LOL!!!
NOW ARE YOU GOING TO DENY THAT YOU POSTED THIS AND OTHERS REFERRING TO YOUR TRADING AND LOSSES???
"I agree. Thats why I sold long ago, and put it into $GLUU (check how that turned up this week) and others.
Im checking-in because I manage a friends portfolio and he hasnt jumped-out yet as I recommended him. SO he's like you guys, enjoying holding a position for a year or more and watching it grow less than the interest in a bank and way less than inflation."
ServantofBob, let them spew invectives!
Remember it is guys like this that make it much easier for the rest of us to make money. A couple of months ago I was staying at the old Carlos V in Madrid on shopping holiday while reading the "expert" posts from the clueless trolls all about our investment in Spain. They provide hours of entertainment if you do not take them seriously. Most of them could not find Panama or Spain on a map, and don't even mention Huelva!! Stockhouse seems to be evolving into the better board at the moment. There is no information here. Just disparagement of those with more education, experience, and relevant knowledge than any of them. That seems to cover about 98% of the population!! LOL!!!
High gabbs. You posted the news.
You said you had sold and were not purchasing any more. It is back there in the archives. Last time it was mentioned it was 139 days since you had sold as reported on IH. That was several months ago. I really don't see what it matters one way or another. The village idiot has no shares and has been posting for years on here and SH. I have those guys on ignore just to keep some order. Probably need to add one more. There are Players and Sayers on a public board. Watch the tape next week.
Big rumor making rounds everywhere.
News before 16th. "Those of us who know...are very irritated by those of you who think you know." Remember that quote and whose it was?
Waste of time to share news here.....caravan is moving quickly.
Those connected know what this is about.
You are sooooo...out of touch!!
The only people marching in the streets in our area are doing so in support of PTQ, just as they did in Penonome! The more you post the more you show that you are totally disconnected from the facts on the ground. If they March in Detroit, as they do, it does not mean there is a problem in Houston!!! Sell and move on....you just don't have any idea what you are babbling about here!!! LOL!!!!
Yes we do hire the young age group that you refer too in you idiocy. The older people have literally crawled on their knees to church to give thanks, that we have brought employment to their area, and, that their young people can return home and have decent jobs.
You really have no clue about the subject an continue to be an embarrassment!
The youth in the north are marching against changing the system and want to continue things as they are. They are against all of the proposed austerity measures that the government wants to implement to change the system. As usual you have it backwards!!!
The youth want a Spanish version of Helicopter Ben and no cut backs to save the country.
Far from a devastated country.
Obviously you do not know Sevilla, let alone Spain. Please explain your correlation between economic recession and gold/silver,zinc/copper to be mined from the ground. It does not seem logical that the metals would be greatly affected. Certainly the several hundred jobs we have already provided have been welcomed by all parties. Petaquilla executives have been welcomed by all parties from the entire political spectrum. Haven't you seen the videos and newspaper articles posted on our web site? We are bringing prosperity to the local economy.
Since we are pouring several million dollars a quarter into the local economy, how is that not a good thing? Twinning holes have been completed a our reserves will soon be doubled with the new Behre Dolbear NI 43-101. How is that bad for the company? I do not understand why producing metals in an area known for its excellence for over two thousand years is bad.
Please clarify your analysis and reasoning for the rest of us. Rather than devastated, infrastructure is excellent and everything needed is close by. You can see a good example on the Inmet web site showing Las Cruces. Are you actually ill informed about conditions in this part of Spain? Perhaps you should go and see for yourself, since your post looks to be very shallow and foolish.
Attitudes such as yours make those who actually do real on site DD reluctant to share on the public boards. It is often not welcome, and a waste of time. Perhaps Oullins should just e-mail those who are serious. Having lived in Sevilla and recently visited for the holidays, I can attest to your total lack of knowledge. Murphy's Law.
Thanks for the post.
I tend to disagree with this analyst also, about the future being in Uranium instead of Copper. As the BRIC countries move forward the demand for copper will be heavy. FQM has a reputation for producing projects very efficiently and the cost of production even by Inmet's approach was well below the industry average. Cobre Panama will be very profitable for them. I noted that he makes his comments without presenting any analysis to back up his postulations. I am not concerned about being an FQM stockholder and will buy more over time. Few companies have a history of +30% ROI to shareholders and a low PE Ratio.
Q&A will cover contracts, new/canceled.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 5, 2013) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today advised that its 2012 Annual Report and Annual Information Form and its 2013 Notice of Meeting, Management Information Circular, Proxy Form and Voting Instruction Form are now available online at www.first-quantum.com.
Annual Meeting of Shareholders
The Company will host its Annual General Meeting of Shareholders on Tuesday, May 7, 2013 at 10:00 a.m. (Eastern Time) in The Gallery of the TMX Broadcast Centre, The Exchange Tower, 130 King Street West, Toronto, ON, M5X 1J2, Canada.
Following the formalities of the meeting, management will present an update on the Company's operations and its progress and strategy following the completion of the successful acquisition of Inmet Mining.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
Advocates of limited PR's won.
It would seem that those who advocated for limited PR's and dissemination of information only as required by the rules on SEDAR and SEC, have succeeded in convincing management, that is the best route. PTQ SP does not respond to good news or fundamental improvements. PR's are generally met with criticism in the public by those with little knowledge or experience. It is just a waste of time and money.
Serious investors will either go to Spain and Panama and actually meet with management or attend one of the several conferences and discuss matters there. SEDAR and SEC filings will be made no later than Monday, April 15, 2013 and with the Zurich Meeting starting on the 16th, data might well be filed on Friday or Saturday.
Oullins, who posts on SH should be back from Spain & Portugal by the end of the week and will post some information there.
Q3 speculation with regards to sales of AuEq. ounces have been narrowed down two between 11,500-21,000! Goldpet has repeated stated the results are terrible and VB comes in at a little over 20,000oz. I think the most obvious point is that neither will actually affect the retail share price. So here we sit under the thumb of those who would see the POG suppressed for as long as possible to prop up currencies. No point in really paying much attention until that issue corrects itself. The longer it lasts the better our chance of getting rid of those pesky warrants.
FQM has been studying steps since September.
When they finally received access to the data room at Inmet they were able to confirm many of their plans. They will move very rapidly to extricate themselves from agreements where they have their own expertise.
"...that saw it pledge to slash costs at the open pit operation by employing in-house expertise rather than Engineering, Procurement, and Construction Management (EPCM) firms."
These are not areas where we interacted with Inmet and we will probably benefit from FQM's more lean operation techniques. They will not waste money on cap/ex they do not need. (i.e. Quarries) and certainly work with us instead of wasting money trying to buy us out, as some here keep dreaming. They committed to the Government and the Panamanian people to work for the benefit of all parties.
Got too tempted today.
Picked up a few lying on the ground. I am beginning to think that time is running out for us to get to $0.35 as there are only six more trading days until Q3 with the MD&A are out. Then the Zurich event and roll out of the new promotional materials. Things will start to leak a day or two before. So I'll just nibble a little everyday until we start to tick up again. Can't see any mid term downside from these levels that will hold very long. You would think anyone in the red should be picking up shares, based on the whining level whenever we get a low period. There are some who are definitely losing money when they sell at this level.
We are at $0.41 now.
18K would be good news and definitely put us below $0.40. Just look at our history!! That would be a 38% Q3 YoY increase and the market would never stand for that, maybe even drop to the $0.35 I have been looking for for two months as a buy in point.
LOL!! Peta...I KNOW THAT!!!
THAT WAS THE WHOLE POINT OF THE POST!! THOUGHT I WOULD SAVE THE CLUELESS WHINERS SOME TIME!!
Same one, try to see if it works.
I lost my contacts when they switched over to Outlook!
Things to worry and whine about.
1. PDI canceled. (PMC says so.)
2. Inmet binding term sheets now moot. (No more Inmet)
3. Red Kite loan canceled. (See #2 for reason, no more FCF.)
4. Q3 production <12,000oz.. (Goldpet says it is terrible and that is why they have not released the numbers. See his SH post. He is resident expert.)
5. FQM wants their royalties. (See #2.)
6. All purchase contracts on hold for six months. (See FQM PR, and Pascalls' interview.)
7. Indian protests start again on April 5, 2013. (See La Prensa.)
8. POG is falling rapidly! (Yahoo Finance!)
9. Start of rainy season next week! (See Calendar)
10. Only sixty days left to begin shipping ore from Spain to protect concessions. (Read Andalucian document!)
PROBABLY A GOOD TIME TO SELL BEFORE WE MOVE INTO THE LOW THIRTIES!!!! I KNOW A BUYER.....
Oh yeah! 4th ball mill that was brought in right on time and under budget is reported to be late by Goldpet although it has been in service for four months!!! Listen to the man!!!
Most important part for PTQ!
As the Offer has now expired, the Offeror will proceed to acquire the balance of the Inmet shares not tendered to the Offer by way of Compulsory Acquisition, as more fully described in the Offer circular. A Notice of Compulsory Acquisition is expected to be mailed in the coming days to Inmet shareholders who did not tender their shares to the Offer. Shareholders are encouraged to carefully review, complete and return the Notice of Compulsory Acquisition, together with the certificates representing their Inmet shares, in accordance with the instructions included in the Notice of Compulsory Acquisition so as to receive payment for their shares as soon as possible.
I am, told you it would be $0.35!
Get ready to buy. Germany is below $0.40. Traders should have sold back when. Long term, just another opportunity to accumulate at a better price. Expect to be buying before Friday!! Let's see if it can drop another nickle!!!
No question times are uncertain.
The only thing I am sure of is that the Panamanian Government will not nationalize anything. They already own Cobre Panama and PTQ and now FQM are concessionaires for 60 years. Many of the elite and connected are large stockholders and they are on both sides of the isle. What could happen if the dollar collapses is that Panama will go to its own currency the Balboa and back it with gold. They could require that our gold and silver production be sold to the government, but that would be at market prices. No worries here...
Much more pleasant!
AHHHHH!!! When you finally get the right ones on ignore the board is so much nicer, easier to use, and actually fosters discussion.
Poof!!! Gone to internet limbo!!
I received an e-mail stating that I might be confusing some with my thoughts, that I am entitled to express, concerning the possible movement of the share price. So here goes another try.
In May/June about 4,000,000 warrants expire if we do not trade above $0.65. In December/January about 33,000,000 more go away if we do not trade above $1.45. And of course they are of little value if investors see fundamentals crashing in the future.
I believe I stated, in response to someone saying that our share price would never increase, a question if there was anyone on the planet who believed we would not trade above $1.00 in the next year or so. I also recently said that we should see 300% to %400 percent gain in the next two to three years. These are not opposing views. A dollar from $0.46 is 217% and 300% would be $1.38, with 400% $1.84. IMO, given the projected increase in fundamentals, and the expected expiration of the warrants, those are pretty conservative targets. I think if everything falls into place we will do much better and maybe see an ATH in three years. Anyone who believes the same should be accumulating shares at this level. That is pretty much a "no brainer"!
On the downside, I also think there are enough fools out there in the retail market, with the very light volume that this stock trades, we could see a precipitous drop short term at any time in the share price to $0.35 or below. I do not see any risk that the company will fold, or that the share price will remain at that low a level. I do not see it rising above $0.65 before the end of May and naturally not above $1.45 before the end of January 2014. I am more concerned that when all the news in the pipeline finally is known the price might climb above those level too soon and trigger exercise of the warrants. I would much prefer to wait and not have the dilution. If we could rise to $1.35 and get rid of all the fools who want to sell out the company, that would be fine.
In the meantime we watch and wait for FQM to choose the path for completing their HT, and the filing of our Q3 report on April 15th, just about ten trading days away. So now is the perfect time to just take a little vacation, do some fishing, surfing, or just enjoying good food and family until the events over which we have no control play themselves out. Panama short term has FQM in the drivers seat, and Spain is in the hands of Behre Dolbear. Some board posters have flown to Spain for the holidays and we will be hearing the latest from them upon their return.
For you fellows north of the Mason-Dixon line and in Canada and Germany...it is 79 Fahrenheit on the beach this morning and the water is beautiful..SURFS UP!!!
Peta will be right once again!
Some never understand that PTQ will not be sold, even though FQM would be very interested in the Spanish assets, with their huge facility right next door at Las Cruces, and the billions of tons of copper ore that is Minerva's. Most likely there will be some sort of deal worked out to process our ore there. That would extend the life of Las Cruces 20-25 years. Can't wait to see the new NI 43-101 that will show the billions of dollars in copper. We are lucky to have a capable processor next door. Check out Las Cruces on Inmet's site before it disappears. So convenient for FQM, I am sure they would rather have our Spanish assets than the ones in Panama, but neither are for sale.
Hopefully the Inmet commercial agreement will more forward with FQM. That is a lot of cash exchanging hands and paid directly to Petquilla and Oullins pointed out it would have a great impact on Q4 FCF. In addition the relief of royalties that are on the books and add another big chunk to the the bottom line as it is recognized. You can't knock direct payments and exchange of cash! It takes a little high school accounting to see the numbers, but we get a very large direct cash payment and book a large reduction in A/P, so both land right on the bottom line!!!That probably flies right over the head of some so don't expect the retail market to understand. Large stockholders, analysts, and institutions do and that is all that is important.
I saw on SH that some idiot tried to equate the value of the company to its retail market cap!!!! Now that wins the prize for stupidity when you see trading volumes of 100-300 shares moving the market cap 5%! How do these people manage to get through a day without a keeper? Loji, has explained several times that there is no fixed relationship to the value of the company and its retail market cap. How hard is that to understand?
The $400 million dollars is going to PDI from two directions, we can ascertain from the laws in Panama, and the statements from Mr. Pascalls and FQM. FQM has said over and over that they will reduce cap/ex while they develop Cobre Panama. This is what they are most known for in the industry. They say they will save 1.5 billion dollars. They will build no quarries, but rather buy aggregate from us. Secondly, the very strict law in Panama says that our companies get priority treatment the in award of contracts. We are there, we have the labor, we can compete with anyone's bid. We are substantially lower than others who must travel many Klm's to try to do the same work. Finally, we have great experience in the jungle.
So FY 2014 looks to be a good year from all directions. Don't let the clueless, confused, ankle biters, shake your judgement or confidence. When you have a little extra money buy shares as Loji and others are doing. Even if things take a little longer than we hope, 300-400% return is in the bag in a few years. Some of us believe it will be much more that that. These guys may not be smarter than a two-year old, let alone a five-year old. Plus they have zero information at their disposal...not that they can process what is there on the public record now. Just thank God they are not in position of authority as they would sell off the company at about 10% of its value!! At least their stupid reasoning lets the rest of us make money......
Badge gave us the news of the month!
Yet, the board and the market completely ignored it. Our reserves will double within sixty days and there was not a comment. Not one!!! Don't worry about the public...this board has not caught on either. Looks like I won't get my stink bids filled this week, but at least I tried. Have a Happy Easter and GO FGCU!! YEAH EAGLES!!
The quarter is over and markets closed tomorrow. Monday the HT Offer finally expires and we will learn which way FQM must go to wrap up Inmet.
TEN trading days until final Q3 filings posted on SEDAR! Two more months and FY is over!! This year went very fast and gave us many opportunities to make money. Hope we do as well next FY...
Russians gone before seizure.
"The new, softer line on Cyprus puzzled some experts, who said that Russia easily could have bailed out the island nation, the Christian Science Monitor reported.
But the Kremlin's tacit approval may reflect a realization that Russian business will emerge from the Cyprus fiasco with less damage than previously thought: According to market watchers, the new tax on bank holdings won't impact the country's economy significantly, as sizeable Russian holdings there already have been removed, the BBC Russian Service reported.
The possibility of default in Cyprus has been looming for more than a year, and many Russian businesses registered there were prepared for such a turn of events, said Eduard Savulyak, director of the Moscow office of Tax Consulting UK. A majority of Russian businessmen worked through Cyprus-registered companies but kept their money in banks elsewhere, so the levy doesn't affect them, he added.
"I don't know one millionaire who would keep money in Cyprus," Savulyak said. "As far as private individuals, they have hundreds of thousands in accounts there, but not millions."
Furthermore, Russian oligarchs who still had large deposits in Cyprus likely withdrew most of it last week as Cyprus prepared to stop all unauthorized capital movements. On Monday, Reuters reported a major loophole that large Russian account holders may have used to jump ship while ordinary Cypriots lined up at ATMs to withdraw a few hundred euros: Uniastrum Bank, 80 percent of which is owned by Bank of Cyprus, did not place any restrictions on withdrawals in Russia in the week leading up to the restructuring decision.
Laiki Bank and Bank of Cyprus branches in London did not limit withdrawals that week, either. No one knows exactly how much money has been transferred out of Cyprus, Reuters reported.
Moreover, several solvent commercial banks, including a Cyprus subsidiary of state-controlled Russian bank VTB, will be left mostly unaffected by the restructuring, the Christian Science Monitor reported.
An editorial in the Thursday edition of Vedomosti concluded that the Russian authorities' accepted the Cyprus restructuring after it became apparent that mainly medium-sized businesses would suffer losses, not the large investors that are the Kremlin's first priority.
Now an exodus of all remaining Russian business likely is beginning, some in Cyprus say.
"Knowing the temperament of Russian investors, I'm sure they'll leave," an unnamed Russian businessman living on the island told the BBC Russian Service. "Right away (Russian businessmen) said, 'This is obviously a money grab, this is robbery. Forget Cyprus, there are a lot of other jurisdictions, like Singapore or Dubai.'"
Russian savers in Cyprus reported that funds had been frozen in their accounts already in mid-March, according to the BBC Russian Service.
Besides the imminent seizure of bank deposits, new powers granted to the Cyprus central bank by the restructuring deal have worried Russian investors and businessmen. In particular, the central bank will be able to convert current accounts to time deposits that will then be subject to the bailout levy, which could hurt even those Russian companies that had avoided time deposits, Vedomosti reported.
For those who haven't already taken their money out, the only way to get around the tax is to file a case in the Supreme Court of Cyprus, the BBC Russian Service reported."
Still too many short term unknowns.
Share price could easily drift down to $0.35 between now and April 15th depending on the flow of news and the final determination of the FQM/Inmet deal. Will FQM go Compulsory or Subsequent? That could make a huge difference as to when all the loose ends, contracts, and agreements are finalized. Until then everyone is in limbo. If Q3 is below 13,000oz. that will probably have an impact.
Disclaimer: I must warn you however, based on study and correlation theory...since good news drives the SP down, bad news may actually drive it up, since it removes uncertainty.
A poster on SH, who probably is clueless anyway, has stated that the company is refusing to publish the numbers because they are very bad. Such clueless speculation always helps drive down the share price and makes accumulation of more shares much less expensive. Must remember to send him/her a Christmas card!
Sort of looks like we are headed to the high thirties today! Time to get those stink bids turned in!!
Sorry for wasting the board's time.
I put Jal back on ignore, so things will go back to normal.
It is just a waste to have to state the obvious over and over, and it never sinks in anyway.
OBVIOUSLY YOU'VE TRAVELED VERY LITTLE!!
AT LEAST YOU CAN WATCH THE HISTORY CHANNEL AND THE TRAVEL CHANNEL AND MAYBE INTERNATIONAL HOUSE HUNTING AND LEARN A LITTLE BIT ABOUT THE WORLD. YOU JUST HURT YOURSELF WITH YOUR IGNORANCE.
MAYBE THIS LINK FROM KATHLEEN PEDDICORD WILL HELP. YOU PROBABLY NEVER HEARD OF HER EITHER!
Kathleen Peddicord: Panama: Six Top Retirement Havens In One
Dec 12, 2012 ... For the potential retiree, Panama offers big and unequaled advantages. There's
warm weather year-round and lots of sunshine; a low cost of ...
www.huffingtonpost.com/kathleen-peddicord/retire-overseas-panama-six-top-retirement-havens-in-one_b_2277036.html
This is just an embarrassment.
Ask someone with a high school education what the difference is between binding term sheets and a definitive agreement!!! OH YEAH!!!
JUST GREAT!!! PTQ SHOULD COME OUT IN FAVOR OF A $75 MILLION DOLLAR AGGREGATE SALE AND REFUSE A $400 MILLION DOLLAR AGREEMENT, AS PETA ALSO TOLD YOU...REALLY MAKES A LOT OF SENSE!!! NOT!!!
ONE MORE TIME...SAY IT SLOWLY OVER AND OVER...THERE WAS NO DEFINITIVE AGREEMENT! THERE IS NOTHING TO DEFEND!!! PLEASE TALK TO SOMEONE WHO EVEN HAS AN UNDERGRADUATE 101 BUSINESS LAW CLASS. WHY DO YOU WANT TO SET UP AN ADVERSARIAL RELATIONSHIP WITH FQM OF ALL PEOPLE???? GET A GRIP SOMEWHERE!!!
Gotta luv this guy!!!
Well at least it would be nice spending time with Steve Forbes and have someone to intelligently discuss world events with over a little Napoleon!!
FQM said their goal was to reduce Cap/ex and development expenditures by 1.5 Billion dollars with Cobre Panama. That was their claim to fame evidenced by their other development project histories and what they used to entice Inmet's shareholders to sell. Of course you don't know that because you do no DD or listen to their press conferences!! LOL!!!
In addition FQM publicly stated that they would be purchasing materials that they needed locally. Finally, then Pascalls also said there would be new contracts wherever possible over the next six months to see if things could be improved for the benefit of all parties.
Inasmuch as there were only binding term sheets and no definitive agreement between Inmet and PTQ, as both said in their press releases, exactly what do you expect PTQ to speak out about and defend??? There was no agreement!!!! So your request of PTQ looks as stupid as its source!!
At this moment FQM and PTQ are negotiating a much larger agreement that has a value above $400 million dollars instead of the $150 million dollar term sheet signed by PTQ and Inmet. But you know nothing about that either!!!
Re-read the alpha article and see that they like PTQ as a stand alone entity...you obviously missed that part completely!!
THE ONLY THING AROUND HERE THAT CONSTANTLY CURSES AND APPEARS TO BE CURSED IS A POSTER UNNAMED AND UNAMENDED, BUT EASILY SEEN!!!! I CERTAINLY DON'T KNOW-IT-ALL, BUT I GUESS FROM YOUR PERSPECTIVE IT LOOKS THAT WAY, SINCE YOU KNOW SO LITTLE ABOUT THE COMPANY WHERE YOU INVESTED SO POORLY IN THE PAST. TAKE RESPONSIBILITY FOR YOUR FAILURES, PTQ IS DOING JUST FINE!!!
Interesting article.
I do not understand the statement, "Petaquilla is a junior gold mining company operating in a comparatively risky jurisdiction.". I wonder what they are comparing it to to come to that conclusion.
There is no question but that there is no definitive agreement between FQM and PTQ.
There is someone on SH stating with authority that the Q3 numbers are terrible since they have not been reported. I have no idea, but in two weeks and three days the final numbers will be filed.
FQM is trying to save money, so I doubt they will attempt to buy out PTQ. There is no need.
Thanks for the update.
Complete quarterly filings will be made in two and one-half weeks so we will have all the final data.
BD report should be out in sixty days if they now have all of the data they need. That should dramatically raise our reserves and bring the open pit back into the fold. I have heard that the g/t have improved.
Seems to be taking a long time to finish the financing.
Beware...too much good news will drop the SP!
As Steve Forbes explains it for you:
"I personally don't care about any of the screwed depositors in Cyprus. They should have known the risks involved in the first place..." The height of absurdity!
1. Every intelligent educated person must care about the depositors in Cyprus!!
2. How could they have known the risks? It was PRECEDENT SETTING!!! IT HAS NEVER HAPPENED BEFORE...as in a legal decision or form of proceeding serving as an authoritative rule or pattern in future similar or analogous cases. NO DUE PROCESS!!! How is that so hard to comprehend?????
Cyprus Isn't Over, 'It Is Still a Disaster for All of Us!", Steve Forbes
Read the following comments by Steve Forbes and maybe you will at least begin to understand!
"A Eurozone deal may have been reached Monday to save Cyprus, but the saga is not over. Not in Cyprus where banks remain closed for fear of a run.
Not for countries in Europe where, the Wall Street Journal reports, political mistrust has grown between countries in the North and the struggling South.
And not in the U.S. for people like Steve Forbes, chairman and editor-in-chief of Forbes, who worries about the long-term impact this deal making process may have on confidence.
Before a final deal was done, Forbes penned a piece explaining why Cyprus could be a disaster for all of us, lamenting the attempt to seize depositors money. But with a final bailout agreed upon that saves insured depositors, is it less of a disaster?
“Not really,” he tells The Daily Ticker. “Because the idea’s out there that now in a crisis politicians won’t hesitate to seize any asset they can lay their hands on. So it just guarantees more fear in the future when a crisis comes, which it will come.”
The deal in Cyprus spares insured deposits, those of less than 100,000 euros. But deposits above that threshold at the two largest and most troubled banks stand to lose money.
Capitalism might suggest that these uninsured deposits would be lost when the bank fails.
He argues the senior depositors who stand to be wiped out should be first in line to get what’s left of the “good assets” at the “bad banks,” as the FDIC does in the U.S."
THIS OCCURS THROUGH BANKRUPTCY COURT AND DUE PROCESS. THIS IS FOREIGN SOVEREIGNS WALKING INTO A COUNTRY AND JUST TAKING MONEY THAT IS ON DEPOSIT FOR SAFE KEEPING. THIS UNDERMINES THE ENTIRE CONCEPT OF BANKING WORLD WIDE AND LEAVES EVERYONE AT THE MERCY OF POLITICIANS WHO MAY NOT EVEN BE CITIZENS. IF YOU DO NOT CARE, THEN IT IS JUST WAY OVER YOUR HEAD!!!