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Jal, why do you keep saying their going to be debt free. They still have debt , it's just being paid back in a different way. Le's just keep it to getting the refinancing done.
JFF7
I think you are wrong about the juniors breaking out in general.
You are proving the case that observation impacts the outcome. Except in your case, it's a little more than observation. With your following, your prophecies are now more than a bit self fulfilling when it comes to thinly traded juniors.
Just my observation.
JFF7
It's good that the seller is nto there so much today. More buyers is what I SEE. That should chew up some of the sellers shares.
Gold up but gold majors not so much. Gold major seem to be following the market more than the price of gold. But only for aa while linger. eventually gold majors will move with the POG more. They are laready undervalued realtive to where gold is at.
PTQ will move with the rest of the gold stock unless there is specific company news. It should move up much faster than other gold stocks becuase it has been sold down so hard recently.
Jut my thoughts.
Thee goes gold again. up another 2 bucks and clinbing.
JFF7
No that is not a reason to push down the share price. Too small a number.
JFF7
Your right. My mistake about TSX. Thought it was on the Venture for some reason.
JFF7
They could move to the TSX without a R/S. No 3 dollar minimum there. A R/S is usually bad news for stocks so don't even suggest it.
You guys keep looking for a reason that PTQ has been sold down. You've been presented and have come up yourselves with a multitude of reasons for the selloff. Quit look for the one reason. It's obviously a combination of reasons and many sellers, each in a different situation with their own reasons.
You guys are watching the pot too much. It's never going to boil while you take the temperature every 5 secs. Give it some time.
JFF7
wahooo ! My first and only time as the leader. Sorry this challenge had to end this early. Better luck next time guys.
See ya in the next contest.
JFF7
when I read the grading that was included for calculating the 43-101 ounces, I was surprised at how low a grade it was. Much lower than I have seen fro any other gold miner I have looked at.
Their costs are also relatively high. Only coming down to smoething reasonable in the last qtr. They need to improve on that and do that for a couple of qtrs in a row for people to believe.
All these things together make poeple doubt whether they can make a go of it if gold pries pullback. Lots of peole expecting a double dip recession and you know what that did to the price of gold and gold stocks last time. Will it happen, will the impact be the same? It's a crap shot with poor behind the line odds.
JMO,
JFF7
yes, this is not a cap to accumulate shares for someone. They want out. Their reasons can be many. Once they decide, this is how they have to do it since companies like them usually act relatively quickly in carrying out their decisions.
If it is exercise of options at .32 then this will get them out of the way. One less reason not to move higher. But we're just guessing.
JFF7
I can't tell how big the iceberg order is. You would need a better than simple level 2 to see that.
JFF7
there is no way to figure out why they are selling. You could only speculate at best.
The price is not likely to go lower as long as there is buying at these levels.
No one know how many shares they have to sell or how many they have already sold. We have a better chance of figuring that out than why they are selling.
JFF7
That's because there are buyers at this level but there is a big seller at 38 cents with an iceberg order. As soon as his order is bought, it is refreshed with another sell order.
Until he is gone, the stock price is not moving up.
JFF7
Richard Fifer
Come on...Richard a swell upstanding guy. I read it on the internet.
"Richard Fifer has consistently demonstrated a strong work ethic and a dedication to success. His efforts have produced high quality results time and time again. Richard Fifer along with Petaquilla have developed and successfully implemented plans to improve life for those in the Cocle Province, Republic of Panama. Although a major undertaking, requiring a great deal of thought and effort he has been successful and the results can be seen on the road to Molejon. Bridges, a good road, children in a roofed school and warm food in their bellies, members of the community with jobs ."
http://richardfiferceo.com/
JFF7
PTQMF/PTQ
the "update mentioned previously" talks about the re-financing continuing and that they expect the debt restructuring "to be completed soon". Perhaps that is because the deadline for completing the due diligence is almost past. Soon they will be forced to admit the restructuring of the debt fell through and they will be forced to deal with the fact they are in default of their March debt repayment of 8 million dollars and several hundred thousand dollars of interest. In the mean time though someone is dumping shares as fast as they can. Go figure.
JFF7
That's good. Maybe that million dollar fine imposed on them will be permanently lifted.
JFF7
That's a very good question. Where is all the money?
Oh wait, I can think of a reason they cannot let us know. They are in a quiet period while they negotiate the refinancing.
JFF7
The source of default on payment?
Look under subsequent events of the last qtr's management discussion and analysis.
"3) The Company is late in making a scheduled March 15 payment of $8,000,000 plus accrued interest of $330,000 on its senior secured notes."
Here's the link but you have to be logged in for it to work.
http://www.sedar.com/CheckCode.do;jsessionid=00000yXU8eA4v_YIhqf23wQwAhA:-1
JFF7
That sounds about right. And don't forget, they have been in default of their 8 million dollar payment since March. Is it any wonder that their share price is dropping. Their debt exceeds their market cap and they are in default of their payments for going on 3 months with no news.
The banks want their blood and they are going to get it regardless of whether you can pay your bills or not.
JFF7
Markets price action is saying there is something wrong with this sick dog.
JFF7
Financiers are not comfortable with only a 7 year mine life. that would be the bare minimum. They like to see 10-12 years.
JFF7
CMM vs PTQ
not exactly the same. CMM has a second mine producing 25K ounces per year already and in the Cdn mine has a 43-101 for 3-5 million ounces. PTQ has to prove up some things first.
JFF7
Meeting deadlines
making deadlines and sticking to them is not an easy task. The quality of your planning and execution have to be high. It takes lots of experience and effort to develop those skills to the levels where you can accurately plan and execute according to the plan. There are so many details to remember and so many things outside your control that can go wrong.
I never expect a junior to make and stick to a every plan.
Now on the other hand if a company repeatedly makes stated plans and fails to meet them time and time again without learning from their mistakes then you just have poor management.
JFF7
TMB.to
two big buy / sell of 600,000 shares.
Does anyone know if these were a cross or not?
TMB.TO
Really surprised to see Tembec not participating in this bounce back. maybe there are more problems here than we realize.
JFF7
Yes Deex, thanks for sharing.
No news this week. Someting by monthend on drill reslts and then reporting. Financing takes a long time to complete in this yo-yo environment which makes everyone nervous which means tougher terms.
JFF7
Crazy, it's OK. Your not Crazy.
With the lack of info available about the PP and refinancing activities and the current market environment, no one should be surprised to see the share price floating down like this.
As to whether or not to trust management, you should let their track record speak for itself. I haven't seen enough yet to form an opinion but the rumors of past practices does not help their case.
And as to reading what other posters have to say on this board, always read it with a critical eye. Identify what is just idle speculation based on what we want to see happen and what is actually a reasonably based argument for why something should happen. Facts are the best of course .
JFF7
Tried to follow some of the links but they don't exist or I can't get to them because they are maybe members only.
Some of the points are from years ago before the change in management at the end of last year.
Still, it leaves a bad odour in the air. Going to need the smeel of profits booked to clear the air.
JFF7
CRazy
Those are options that Mr Fifer has been granted. Not shares that he has bought. But if he can buy some at .23 why won't he.
JFF7
SGR.V Production results.
San Gold Corp (SGR:TSXV) - News Alert
San Gold continues operational improvement and exploration success in First Quarter 2010
(SGR: TSX-V) First quarter results show substantial improvements on the production, exploration, and development fronts for San Gold Corporation, including the following highlights.
<<
- The company experienced its third straight quarter of revenue growth.
- Significant new discoveries were made in the Rice Lake East area of
the Rice Lake mine.
- Ongoing exploration also continues to suggest a relationship between
recent near-surface discoveries and known ore bodies deep within the
Rice Lake Mine. Substantial progress was made toward accessing the
high grade 007 deposit.
The following sections provide additional detail on these items.
Production
Record safety, production and revenue performance achieved.
- We have achieved our best ever safety performance. The loss time
accident (LTA) frequency has been reduced to 1.21.
- The quarter saw record production of 63,323 tons of ore or the
equivalent of 704 tons per day despite the negative impact of the
loss of a DC hoist motor at D shaft resulting in loss of access to
lower Rice Lake for two weeks.
- Operations achieved 28 days with production levels in excess of
800 tons per day.
- The mines achieved a new single day record of 1,506 tons including
1,006 tons from The Hinge.
- This resulted in 11,984 oz of gold sales at $1,167 per ounce for
total revenues of $13,988,260.
- Grades were slightly below budget this quarter due to mining the
narrower extensions in No. 1 and No. 3 veins at the Hinge mine
resulting in higher % dilution coupled with a higher proportion of
development at Rice Lake.
Development
>>
A new development drift has been created to gain access to the high grade 007 deposit.
<<
- During the quarter the drift was advanced over 1,400 feet of a total
distance of 2,300 feet.
- This new access will provide for bulk sampling of the new 007 deposit
in the third quarter of 2010 which wil provide a supplemental ore
feed to Rice Lake and Hinge mine sources.
>>
Exploration
San Gold continues to confirm that the geological model it is using at the Hinge mine is proving to be a predictive model for identifying mineralization across the surrounding area.
Our company geologists are now viewing the Rice Lake mine and new deposits as a larger single mineralized system rather than a collection of discrete deposits.
<<
- On January 20, San Gold announced significant drill results in the
28 Level of the Rice Lake Mine.
- On January 25, San Gold announced the discovery of a series of high
grade veins as well as large, broad breccia vein systems had been
encountered above the eastern extremity of mine development along the
26 Level.
- On March 1, San Gold announced its initial mineral resource estimates
for the Hinge and 007 deposits in accordance with the guidelines set
out in National Instrument 43-101 and NI Form 43-101F1. This report
also revealed that the Hinge and 007 deposits are related to the Rice
Lake Mine "RLM" vein shear-structures.
- On March 31, San Gold announced the discovery of a new high grade
gold zone located beyond the eastern limits of known exploration from
the 26 and 28 levels of the Rice Lake Mine. Confirmed in the
subsequent period with hole No. 28-10-53 which was 121 g/T (3.53 opt)
over 13.3 M (44 feet).
Finance
- On March 26, San Gold announced it had closed a $26 million "bought
deal" private placement at $4.05 per share.
- The financing, along with improvements across San Gold's entire
operations, has resulted in adequate funding for the company's short
and medium term plans.
Quick Facts:
-------------------------------------------------------------------------
2010 2009
---------------------------------------------------------------
Q1 Q4 Q3 Q2 Q1
Revenue 13,988,260 11,719,526 8,844,634 3,537,833 3,706,077
Interest
and Other
Revenue 1,979,186 1,639,550 2,518,098 1,992,218 2,687,421
Income
(Loss) (339,087) (5,223,695) (4,983,566) (10,763,594) (8,471,932)
Per share
(basic
and fully
diluted) (0.00) (0.02) (0.02) (0.04) (0.04)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Other Selected
Operational
Metrics:
Tons Milled 59,325 50,486 52,826 33,453 27,659
Head Grade
(g/t) 7.71 8.36 7.84 9.79 5.48
Recovery 93.36% 92.92% 92.27% 90.34% 88.19%
Gold Sales -
ozs 11,984 9,999 8,398 3,307 3,299
Realized
price per
ounce 1,167 1,172 1,053 1,070 1,117
-------------------------------------------------------------------------
-------------------------------------------------------------------------
2008
--------------------------------------
Q4 Q3 Q2
Revenue 3,209,754 2,096,521 2,529,511
Interest
and Other
Revenue 1,780,323 2,203,868 2,236,792
Income
(Loss) 216,998 (9,842,028) (12,751,859)
Per share
(basic
and fully
diluted) 0.00 (0.04) (0.06)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Other Selected
Operational
Metrics:
Tons Milled 27,980 26,935 31,975
Head Grade
(g/t) 5.58 3.70 3.66
Recovery 85.42% 76.49% 83.65%
Gold Sales -
ozs 2,682 2,276 2,778
Realized
price per
ounce 1,013 922 910
-------------------------------------------------------------------------
-------------------------------------------------------------------------
SAN GOLD CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
FOR THE QUARTER ENDED MARCH 31
2010 2009
------------------ ------------------
REVENUE $ 13,988,260 $ 3,706,077
OPERATIONS
Operations 13,969,189 6,683,089
Asset retirement accretion 41,780 37,909
Amortization of property, plant,
& equipment 538,474 449,009
Depletion of mineral properties 1,747,214 515,334
------------------ ------------------
LOSS FROM OPERATIONS (2,308,397) (3,979,264)
Exploration 2,662,783 2,004,010
General and administrative 1,456,988 1,656,870
Accretion of convertible debentures - 39,806
Amortization of financing fees - 50,029
Royalty expense 1,967,708 1,967,708
Interest expense 26,261 290,916
Share based compensation 1,790,722 1,170,750
------------------ ------------------
LOSS BEFORE OTHER REVENUE (10,212,859) (11,159,353)
OTHER REVENUE AND EXPENSES
Indemnification fee 63,788 63,788
Interest income 1,979,186 2,623,633
Equity loss of SGX Resources Inc. (128,667) -
------------------ ------------------
LOSS BEFORE INCOME TAX (8,298,552) (8,471,932)
Future income tax recovery 7,959,465 -
------------------ ------------------
LOSS AND COMPREHENSIVE LOSS FOR THE
YEAR (339,087) (8,471,932)
DEFICIT, BEGINNING OF THE YEAR (152,254,876) (121,011,395)
Share issue costs (1,539,783) -
Future income tax on flow-through
shares (7,959,465) -
------------------ ------------------
DEFICIT, END OF THE YEAR $ (162,093,211) $ (129,483,327)
------------------ ------------------
------------------ ------------------
LOSS PER COMMON SHARE: Basic &
diluted (Note 17) $ - $ (0.15)
-------------------------------------------------------------------------
Traditionally dollar strengthening is bad for the price of gold.
JFF7
TGB after bell
If TBG is rising going into the earnings, I would be selling a portion of my position here. It's very typical in Cdn stocks for people to buy the rumor and to sell the news. As well we are in May now and seasonal investors are looking to get out and come back in the fall.
It may spike tomorrow morning right at the bell if they have fantastic results but then the sell off will start and any gains will be lost before the close.
Just my 2 cents.
JFF7
PTQ.TO
Yes it has been frustrating waiting for this one. Makes me think there is something I do not know. Something bad.
I found myself adding to my holdings of this stock simply because it was as you say so low while gold prices soared.
The problem seems to be the lack of information about the debt refinancing and the PP. Until these are settled, the share price is not going anywhere for very long. If these are settled even on not so good terms, the share price should be released to move much higher.
I have stopped adding as I have more than I really want until the two issues are disclosed / finalized.
TVI.TO is another one that is frustrating to own. I have reduced my position in that stock because of the lack of movement in light of good gold prices and good company news.
JFF7
the shares won't move higher till this uncertainty in financing and share count is cleared up. Once it is cleared up, the share price will move up substantially but not anywhere near your expectations.
JFF7
Enjoying your dreams guys?
Sheesh. Try to keep it credible at least.
JFF7
OGC.TO c$2.55 +.17 7%
OGC having a goood day. Unhedged gold producer, way undervalued. Long ways to go before it is.
JFF7
What a great day!
in one day I have almost made back what I "lost" all last week. Beautiful.
CGA having a great run. HGU a great run. Bought both yesterday before the close. Sold HGU for 10% and rolled it into MLL for another 4-5%. Sold some CGA as well.
I luv days like today. Golfing this Friday and Fishing season opens on Saturday.
Thanks all who bring these great stock picks to our attention.
JFF7
Bingo! that's the route of the price at this point.
JFF7
MLL.TO - Coinmaker
finally joined you and bought into MLL. Current numbers look great and future looks brighter.
Bought 3 positions of HGU yesterday and sold otday for a nice 10% profit. Need to roll some of it back into a gold stock in case gold keeps running. MLL seemed like the best value today.
Also bought back my CGA positions yesterday. will hold those. Yesterday's news seems really good for the future. (Thanks Bobwins).
May have to wait on this to move but at least I have some skin in the game now. Don't know why it is not participating in today's gold run but I am happy to get in today at this price level.
JFF7
OGC.TO
I think the other uncertainty is the limited mine life. They have a few mines in operation. There are two or three of them only have a mine life of 3-4 years.
They are extending drilling now to shore up reserves but it is still an uncertainty until that is done and the resource levels and mine life are extended.
The fear is that if they don't extend the mine life of even one of the mines in question, then they could lose 60-70,000 ounces a year of production.
However I think that even without one of those mines, OGC is still undervalued. The company does not get much if any recognition for the mine in the Philippines that is on care and maintenance.
JFF7
Look at history. Money flows into the gold majors first and then the midcaps and then the juniors. This is a general rule of thumb but there are exceptions. Juniors will large gold holdings not yet producing often move quickly as well.
JFF7