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2-nd WOW! I had no idea, sorry. My knowledge of international history is much better then American, but that is no excuse, someone will be doing some reading this weekend. .. Does everyone know that story but me ? Almost embarrassing..Hmm… and how do you learn to type so fast for the old man?
Thanks, they are pumping the water now, next year- they will be pumping the gold, I hope.
OT. Lo, while I was driving home from work today , I noticed the van affront of me with the same yellow sticker (snake and liberty..). Is this some kind of club you guys (girls?) belong to? Or secret society?
Or ? …
Wow! Between magic of salvo and wisdom of Mjk- this is a best board ever! And that goes to all contributors : “captain Lo”, inquisitive Jal , profit-Dex, gutsy-kudo, rich-manta and everyone else I did not mention or offended yet.
Why watch Comedy-Central – I rather read this board.
I have to admit: I am elevating myself from “ankle-biter” (using expression of my fellow poster ) to a Knee-deep position. ( I am talking about PTQ, not sex)
GoBaby.
I stumble on this one, check the short video;
http://www.investmentpitch.com/media/826/Strike_Minerals_-_TSX.V:_STK_-_News_Alert/
All right then, salvo lets work your magic, I wish someone would posted level 2 , to see who were the big buyers, mjk does not counts.
Mjk, You mean our President stopped playing golf and basketball brackets and decided to address Japan issue finally! OMG!
How come they aloud to lie? Doesn’t Panama have a law against it?
I will be in tomorrow
It’s amazing.. if it just holds one day , so I can get my money together and buy some more … screaming BUY on a few stocks around..
Ha-ha, I bet she wants a favor back. ;0) Yes I agree. A lot of gold and silver stocks in a “buy “ territory.
How about little OT and share a few good penny stocks you are holding.
My is XAG.V Xtierra – nice silver play, going into production next year.
All gold and silver stocks are holding and advancing fine , ours included. GoldStocklMania guy predicts 35% pull-out in general market.
Mjk , can you give us break-down number : who is representing business on that committee. Martinelli has been quiet, what is his plan?
As long as they stay away from Costa Rica concept we will be fine. But who represents our (business) side in that matter ?
COMEX Gold futures prices ended sharply lower Tuesday and hit a fresh three-week low, as investors worldwide are keenly focused on the potential for nuclear reactors in Japan producing catastrophic meltdowns.
Spot gold last traded down $35.40 at $1,394.00. Spot silver also dropped along with Gold as investors rush to sell precious metals at higher levels. This high nervousness has caused most markets worldwide to sell off, save for U.S. Treasuries. Investors are looking forward to liquidate positions and move to the sidelines or into cash.
Gold's safety doesn't extend to periods of true crisis. Like stocks, commodities and bonds, Gold is also vulnerable. It is a cash cow and today as the Japanese Nuke disaster looms large on the world, Gold is the only commodity that is sold at a pace more than what the radiation levels are spreading.
On Thursday, Spot Gold rose as high as 1,401.90 USD which is up 0.29 percent an ounce. Silver climbed to 34.503 USD an ounce in international market.
It may seem a bit out of character for Precious metals to be heading south at a time world seems to be plagued by human tragedy and political turmoil, but Analysts are of the opinion that it’s also time for many investors to book profits in short position. Investors are doing what they should; Investors in international market are grabbing this dip price to build their long term investment.
There’s been a lot of speculative activity in Gold and silver, so people are taking the time right now to take profits. In a rush for liquidity a sell-off in gold is not a big surprise. Analysts finds it very encouraging to see investors taking advantage of low prices to add precious metals to their portfolio.
If you look at the way gold and silver have been trading today, they have come off the lows of the day, which forces the belief that people are buying the dips. Therefore, there is no doubt that the long-term uptrend is very much there for Precious metals. A near-term correction will just act as an opportunity to add on to exposure to Gold and Silver
here comes a bounce, salvo what you think?
Japan market is up, we are going back to $1 very soon.
Coins?!
UTAH (Commodity Online) : The State of Utah took another step forward in bringing around its own additional currency by forwarding the silver and gold coin bill (Substitute Currency Amendments bill (H.B. 317) 16-7) to Gov. Gary Herbert for his signature.
Last week the senate had passed a law to allow silver and gold coins as a legal tender within the state’s borders.
The Utah legislation is touted as a rejection of fiat money and an opposition against tax code that encourages consumption.
The new wave is not restricted to Utah, as a dozen states have proposed such a bill. If they come through, the demand for gold coins and silver coins could significantly increase. There are even arguments that the said legislation may spur the US Congress to consider adopting gold standard.
In Virginia, the legislature there has passed a bill (which is yet to be signed by the governor) that would allow the state to mint gold, silver and platinum coins. This is expected to protect the state from the scourge of high inflation.
In fact, a Virginia delegate tried to initiate a resolution that would allow the state to have its own currency, but fell through.
" What we have here - is a failure to communicate"
...
What do you think is a time frame for this commettee? Two – three weeks before they would come to some kind of agreement?
I hope it will hold 0.45 support..
While most of the market is tanking today, we actually are doing OK.
Good luck In4$, you forget to tell us what is your next venture “:o)
Thanks Mjk. You posted while I was posting my questions same time. Listen , it would be great lost for the board if you limit your postings. Overwhelming majority of this board love you information and intuz. So what if you sound occasionally optimistic – you entitle to your view , - that’s what makes this board so unique, as In4$ noticed. We all take different angle to issues and yours is extremely important. So please reconsider.
VB
Nice to hear from you , Mjk . What people on a ground are saying? Rumors ? Share some of your feelings, are any other press then PRD , do we have any allies left ?
By the way, I join I-hub with prayers for people of Japan, what a devastation!
PTY, can you translate in a few sentences what he is saying?
per favor.
Good call MWM, we bounce back necely, great chart.
Friday, O.T. Happy Hour:
Nice bounce, looks like we re-visited same support ( upper 80-sh) of last November, now being way oversold – it should be all up from here , if Mjk would break his silence and enlighten us on Indian affairs.
As I posted before , latest events made me to sell all my principal investment in PTQ and now I am riding along on a “ free shares”. Also, taking DVM’s advice earlier I diversify my portfolio into two silver miners: one of them is Xtierra XAG.V - I am very excited , huge reserve in Mexico, going into production next year, … still can not wait for PTQ’s quarterly report – it can heal a lot of wounds.
In a green, second day in a row , I feel calm before the storm;
"The waves that would register in Panama for a tsunami warning issued in the earthquake in Japan would be in the afternoon, as announced Eduardo Camacho, Institute of Geosciences, University of Panama.
To be effective tsunami warning, the waves will arrive in Panama after noon, said Camacho Telemetro Report .
However, the official called on not to cause an alarm in this situation. In the morning news, Camacho asked the citizens to follow the instructions to make the National System of Civil Protection.
Mjk, where are you? tell us what is going on down there, per favor.
I wonder if temporary share weakness is due to exercising the warrants.
Good news, crazy investor is back. Salvo where are you?
I predict tomorrow we will go up. Lo hold on - you might make 10 %.
All right, All right.. Jal I can feel your frustration, we have been bleeding our profits in a last few weeks while Mr. Fifer entertaining himself and his friends with future IPO. I think in a next few days we will be able to see much clearly PTQ situation. Today ‘s action happen all over the market , I’d like to see what is going to happen tomorrow when everyone will take a breather , almost every gold and silver mine stock took a dive.. I think that we see the bottom here, there is a strong support around $ .75 ,.. when do we report quarterly - end of April ? less than a month? We were more tolerant when stock drop from .90 to .30 year ago, of cause we had our champion Martinelli, but the only things change for us in reality – is PDI spin-out, even if we produce 80K oz – SP will correct itself in $1 + .. time will tell.
I agree with you Mr. Green ;0) but I am looking at .40 stock and wondering what is going to happen if they will accept the offer and settle for 49% ownership, I’d like to be enlighten, thanks ;o)
"421g/t silver and 3.08g/t gold over 3.80 metres, the Nombre de Dios zone that assayed 854g/t silver and 4.20g/t gold over 1.45 metres, and a footwall stockwork zone with 824g/t silver and 2.10g/t gold over 0.75 metres. Hole ESI11-008, drilled under ESI11-007, intersected three mineralized zones, including the Melladito and the Nombre de Dios zones and a Melladito hanging wall zone that returned 662g/t silver and 1.75g/t gold over 0.50 metres" - that's a great news.. I wonder how much oz. silver they are going to recover..
Unusually big volume,
10% correction ? Silver is down only 1 %...
I like your board, will be riding also ;o)
Cream is geeting "hot" , do you think it's too late to get-in ?
I got in two weeks ago.. looks like we have to go thru a bit of dillution before a new leg-up..
I am in also, had to use XRESF - American exchange, there is a price difference... NYBob, you already here? everywhere I go - I stumble on you, :o))
MJK, I hope everyone is sober now and Indians will get to the table to nail Agreement down. If everything works out fine and we are continue to operate as usual, then the only delay would be PDI spin-off. Still PTQ shares would recover to previous $ 1.17 and with short covering might push us into $1.30 level. Two - three week will be crucial to achieve that, will see..
The credit goes to Jal, he is the one who find it. If you give him an e-mail address - he'll send a whole file to you.
It is a good read.
o Richard Fifer – Executive Chairman, CEO and
Director
?o Pascuál Montañés – President
?o Thomas Byrne – Secretary Treasurer and Director
??o JoaoC. Manuel – COO and CFO
??President & CEO of Petaquilla Minerals, Ltd.
?o Oriol Prósper – Corporate Attorney
????President US/Spain business counsel
Iberian Resources Corp.(”IRC”) has secured an outstanding value opportunity to build a new
resources company
o The opportunity arises because:
The previous owners had a very constrained view of a development concept
They were capital constrained for an extended period of time – the assets have been
essentially dormant for last three years
No modern exploration techniques or processing technologies have been considered
4
o Investment highlights include:
US$25.7 billion of in-situ metal resource (Au, Ag, Cu, Zn, and Pb)
Quality assets in attractive mining location with potential for regional consolidation
Significant gold resource capable of producing significant gold production near-term with
impressive exploration potential
Largest undeveloped polymetallic massive sulphide in the IBP
Significant exploration potential on all properties
Government support is enthusiastic for new projects
Market valuations suggest IPO value at $120+ million
Low sovereign risk (European Union)
-Friendly and cooperative regional
government
-Long mining history
o Number of mines currently operational:
o Lundin Mining – Neves Corvo (Cu, Zn)
o Inmet – Las Cruces (Cu) Open Pit Copper
o Iberian Minerals – Aguas Tenidas (Cu, Pb ,Zn)
Diversity and Optionality
Project development, advanced exploration, blue sky exploration potential
o The assets present a good balance of development and advanced exploration
through to significant blue-sky exploration potential
o Lomero-Poyatos has a base load of small high grade tonnes to deliver returns but
with open strike and down dip extensions of high quality intersections it has the
potential to be much more valuable
o Masa Valverde has the potential to be a very large bulk underground base metals
mine – drilling is needed to define development and processing methods. It
remains open and experts suggest grades could be lifted with in-fill drilling
o Regional options exist in exploration properties and regional consolidation
Upside Opportunities
o SRK’s 2002 open pit study explored the possibility of a 1mtpa open pit based on a 20mt
(3.1g/t Au) resource. IRC today sees the potential to be in excess of 1mtpa
o Spanish government grants: contributed Euro53m (~16%) towards Inmet’s Las Cruces in 2002
o Exploration upside from “identified promising anomalies to the north and east of the current
underground workings confirming indications that the ore body is open along strike and at
depth” (SRK – A Conceptual Mining Study... Dec 2002)
o Significant down-dip extensions and strike extensions in both directions have not been drilled
out: 16.65m @7.72g/t gold and 8.8% Lead / Zinc plus 16.5m @ 5.86g/t gold and 2.44% copper.
Feasibility and EIA completed within 24 months
o Appoint a focused and experienced management team to move to decision to commence
mining as soon as possible.
o Detailed data compilation and reprocessing exercise to develop a small number of drilling
targets to validate the resource model and development concept
o Drilling of dip and strike extensions to add high grade tonnes to the resource
o Detailed metallurgical testing of processing options for multi-product revenue streams
including prospect of co-development with Masa Valverde
Explore potential for capital cost reductions through our Chinese procurement expertise
o Develop new conceptual development study to maximize potential of production
commencing as soon as possible
Combination of multiple ore sources looks to be most promising
High grade underground targets: old remnant blocks, high grade north east extensions
and north west extensions, down dip extensions not drill tested
Open pit targets: shallow pit in Poyatos area plus re-examination of SRK large pit
Capital Cost Estimate
o Depending on the resource size and the mine design, the scale of the process plant and associated capital
cost is in the range of US$250m to US$300m
Government Approvals for a Larger Scale Operation
IRC is in ongoing high level discussions with the Andalucía Community regulatory bodies who have been
in favor of the development of a large scale mining operation since opening of Inmet’s ‘Las Cruces’ 1.4
mtpa operation.
o Given the historical mining that has occurred at the site and the Spanish government’s pro-mining stance,
IRC considers it a low risk that any regulatory obstruction might exist
The company has engaged Casimir Capital LP to raise the funds needed to
fulfill the corporate strategy.
Golder & Assoc. has been retained to qualify the resource to NI 43-101
36
Lang Michener LLP is legal counsel
Auditors to be appointed
The company plans to apply for a full TSE listing in Q4, 2010
The company proposes a 5 million share offering at
Cdn$0.60 per share for gross proceeds of Cdn$3.0
million to complete the necessary NI 43-101 resource
estimates for a subsequent IPO.
o Propose a Cdn$15M IPO financing at Cdn$3.28 per
share to fund G&A and drilling programs
Shares Gross
Proceeds
Current Outstanding 18,635,110
Debt Settlement (US$) $0.40 375,000 $150,000
Warrants (US$) $0.14 600,000 $84,000
$0.40 795,474 $318,190
$0.60 605,263 $363,158
Options $0.14 1,450,000 $203,000
Current Fully Diluted 22,460,847
Seed Round (US$) $0.60 5,000,000 $3,000,000
37
o Post IPO we expect to have 32 million fully diluted
shares outstanding and an expected share price of
Cdn$3.85 per share (see pg. 9)
o This implies a return of 540%.....