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Before year end my friend. Godspeed to all, including beloved Mr. Fifer. Maybe he to can move on to bigger and better things. Cheers.
That would be part of it. Lots of developments, first negative, and then the outcome most are wanting/exoecting. And then we can all move on to bigger and better things. Any negative news should provide entry point or avg down opportunities.
Its coming soon!
The problem with PTQ is that the chairman is simply put too ambitious. He puts too much on their plate at one time. PTQ is strapped for cash and without serious financing they cannot put LP on their plate! They have plenty more exploration and extraction from the Panama project which would be a lot more realistic to pursue. Their lack of orderly development also puts the Cobre Panama project in jeopardy. This is why it is time to go for Mr. Fifer. Unfortunately we are in fact hearing that PTQ is in serious arrears with many of their providers, some of which have simply decided not to extend credit or even work with PTQ.
Management shakeup coming soon. Fifer is a gonner. This in itself should make the price of the stock double. Also, more developments (positive) with FQM.
I think there is more good news coming. Good baby steps.
Heard some big news is coming of JV with FQM announcing the deepening of the aggregate agreement into other development areas for the mine site, and also some agreements with the Copper and Gold corresponding to each other, which is great for PTQ obviously. Hopefully it is accurate and we get this news soon. Should provide a significant gap up.
Correct. My bad!
900 k volume very early in PTQ CAD. 3 times the avg daily volume just to start the day. 7% down. No news no nothing. Off course POG down but...
It seems that is going the litigation way.
A good and trustworthy friend tells me he saw Pascall, Feifer and others meeting at the Trump Hotel here in Panama. Hopefully something good coming soon. Nice coincidence.
The comany is great, great potential, great resources, bad management. We need to avoid them making irresponsible decisions. Thats all.
There is no agenda my friend. I own quite a large amount of shares because i have conviction on Panama's mining prospects, but when i find out that management is irresponsible with their commitments it worries me and i want to see them act correctly.
You crack me up man. Jajajaja
I understand Joao received a payment demand letter from UBS this week. So I guess the clock will start ticking now and things will get a bit more heated if Peta doesn't make things right quickly. Maybe its not too smart to go to Switzerland, where UBS is the largest financial institution and an icon of the country, and try to raise funds while at the same time being in arrears with UBS. So had did that fund raising go after all?
Sorry to go, but i have a couple of cars in line to wash. Nice sunny day to do so. Lol
I thought i was on your ignore list. This affects your credibility. Jajajaj
What is going on? Awfully quiet . Decent volume 675k shares trades at 1132 EST price .40 CAD up 11% today.
Hi mjkii. I live in Panama. My source is reliable but UBS will never share information with third parties . I can't compromise my source but I assure you its reliable. I understand the terms are in deed friendly, but if payment is not made very soon, then the problems will start unfortunately.
Multiple excuses. Disbursement of Redkite or alternative deal.... Quite irresponsible if you ask me....
Have a great day. Nice little move on POG. Hoñe it helps.
No worries. It seems we are all (longs) on the same page. All hoping for the best possible outcomes. And yes, i have been invested since we used to own MP! Made some decent gains in the 1.20 area about 2 or 3 years and blocked back in at mid 20s. Added 500k shares @ .35 CAD this week.
I saw something about MP canceling a project with Impreglio worth almost half a billion. Hope some of that work comes to PDI if this is confirmed officially. In also hope the UBS thing gets taken care of. I assure you this is not a fabrication. Viva Panama, Viva la Mineria Responsable, Viva Peta.
Now i can conclude my 45 minute bike cardio @ power club :)
Cheers to all. Even haters like RedFlamer
Listen RedFlamer! I am actually longer then you will ever afford to be. That is precisely why it worries me that Peta plays around with such a contender as UBS. That would really make the sh*^ hit the fan for all us longs. Unfortunately Fifer, and his puppets aren't the most reliable and trustworthy professionals. Makes me wish the HT would have been succesfully and UBS fail at their defense. At least we would have owned IMT shares that later rallied with the FQM HT....
Mjkii: i might have not been clear with regards to the services that peta contracted from ubs. Off course you understand that a bank can act as legal counsel to a company. That was not what i meant. They were the investment bank hired exclusively by Peta in the HT defense,, fairness of opinion, etc... The jurisdication will be Canada if Peta doesn't pony up their accounts payable.
Jajajajaj. Good luck to all of you .
SUMMARY OF THE UBS OPINION
Petaquilla entered into an engagement letter dated September 18, 2012 with UBS pursuant to which, among other things, UBS agreed to provide Petaquilla with an opinion, from a financial point of view, regarding the consideration offered to the holders of the common shares of Petaquilla pursuant to the Offer. In a meeting of the Board held on October 9, 2012, UBS delivered its oral opinion, subsequently confirmed in writing on October 12, 2012 to the Board, to the effect that, based upon and subject to the various assumptions, limitations and qualifications contained therein, the consideration offered to the holders of the common shares of Petaquilla was inadequate, from a financial point of view, to the holders of the common shares of Petaquilla other than the Offeror and its affiliates. The full text of the UBS Opinion, which sets forth, among other things, the assumptions made, information reviewed and matters considered, and limitations and qualifications in connection with the opinion, is attached to this Directors’ Circular as Schedule “A”. The UBS Opinion is not intended to be and does not constitute a recommendation to any Shareholder as to whether any Shareholder should tender its common shares of Petaquilla under the Offer or any other matter. The UBS Opinion was one of a number of factors taken into consideration by the Board in considering the Offer. This summary of the UBS Opinion is qualified in its entirety by reference to the full text of the UBS Opinion and Shareholders are urged to read the UBS Opinion in its entirety.
The UBS Opinion is necessarily based on economic, monetary, market and other conditions as in effect on, and the information available to UBS as of, the date of the UBS Opinion. UBS has disclaimed any undertaking or obligation to amend or update the UBS Opinion or to advise any person of any change in any fact or matter affecting the UBS Opinion of which UBS may become aware after the date of the UBS Opinion. In the event that there is any material change in any fact or matter affecting the UBS Opinion after the date of the opinion, UBS has reserved the right to change (but has no obligation to), modify or withdraw the UBS Opinion.
UBS has acted as financial advisor 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. In addition, Petaquilla has agreed to reimburse UBS for the expenses reasonably incurred by UBS in connection with its engagement and to indemnify UBS and certain related persons in respect of certain liabilities that might arise out of its engagement. Neither UBS nor any of its affiliates is an insider, associate or affiliate of Petaquilla or the Offeror.
It is very simple mjkiii. They hired UBS for services related to the Inmet HT and they have not paid. I think the eviidence of that was clear. You are pretty resourceful and can find out more yourself. I do know of other small providers that have had similar problems with peta and have only been paid after legal actions were taken. Surely UBS will do the same. Just wait and see. I'm also sure that they will let Peta's other service providers know about this so they can beware who they are working with.
The problem with Peta is the lack of seriousness of management. They hire professional bankers like UBS to succesfully defend them from the Inmet HT 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.