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Thanks a lot Jal. WOW! Now I understand why none of you could of reach Tom Byrne. He was busy setting up a very nice presentation of future company . No boys and girls – we will have nothing to do with” Iberian resources”.
What sucks that all CEO’s just moved there, like you said , Fifer could have appoint someone else, any way I will post the highlights.
Excellent dig, Jal. Thanks again.
They will owe 51 % of the company, but how would it benefit me as a shareholder, still trying to figure it out..
Jal, please send me info :
vbratun@yahoo.com
Lo, Jal is correct :
"A multinational company plans to reopen the mines Panama and San Telmo Lomero
Petaquilla Minerals Mayor presented his draft Cortegana • The president, Richard Fifer, create profitable an investment of 100 million euros • The area has significant reserves of gold and copper
PRUDENCIO CORTES / CORTEGANA | UPDATED 04.03.2011 - 5:01
From left to right, Juan Macias (San Telmo), P. Díaz, Pascual Montanes (HR Advisor), Richard Fifer (President of Petaquilla), R. Ybarra, A A. Domecq Marín.
4 comments14 votes
The mines in the vicinity of the hamlet of San Telmo mining could begin in the near future mineral production again because of the interest of those most responsible for the company's Panamanian-Canadian Petaquilla Minerals and its subsidiary in Spain, Iberia Resources Corporation, which Cortegana visited yesterday to present to the future City Hall project to open-Poyatos Lomero mine in the municipality of El Cerro de Andévalo, and the mine of San Telmo, at the end of Cortegana.
The business group Cortegana reached by helicopter from El Cerro de Andévalo, being the president of the Panamanian company, Richard Fifer, the manager to reveal the project to members of the government team, led by the mayor, Antonio Marín.
Fifer said that Petaquilla is an international mining company capital listed on the Toronto Stock Exchange (Canada). The company is the main investor Iberia Resources, an entity that has submitted to the Junta de Andalucía, Huelva a project to invest 100 million euros to revive Poyatos Lomero mining project, which closed in the 80's.
"With this commitment we have commenced discussions with members of the owning company of Minas de San Telmo to start the two projects together," said Fifer.
The president was accompanied by the CEO of Iberia Resources Corporation, Pascual Montanes, and two of the owners of Minas de San Telmo, Alvaro Domecq and Ramon Ybarra, who showed at all times its complicity with the project.
Fifer said the project is more ambitious than the reopening of these two mines, as the company intended to open other lines of investment in the area to use the natural resources of the territory, as the citrus farm, with an estimated investment of up to 40 million euros, taking advantage of the byproducts of the orange as biomass energy or production of Vitamin C. In this line of work, Petaquilla is also interested in the resources of the area ahead of renewable energies such as wind and hydropower.
With regard to mining development in the area and corteganesa cerreña, Fifer said that these two investments, "are just starting, because once we start to work on these projects would be increased significantly."
Petaquilla President referred to the company's commitment to employment, stating that the draft Lomero-Poyatos, would initially employ about 150 people in the study phase, which will be increased in the construction phase and up to 700 Finally in the operation phase will create approximately 250 jobs. The ore is expected to explode in this mine is mostly gold, as studies made by the company are more than 2,000,000 ounces of this mineral in Lomero-Poyatos. In addition also draw copper, lead and zinc. Fifer is quite optimistic about these early data, stating that "it is possible that the studies that we will do in the next 24 months we can be sure to double or triple these estimates." This region hosts the only operating mine in Huelva, the Water Stained, Valdelamusa-Almonaster.
Jal, maybe we all overreacting , - yes, it is bad , but not as bad as we told to believe. Otherwise Fifer would be in Panama pulling all kind of strings protecting his “ baby”- Mine. Instead he is in Spain working on a new venture – gold mine.
We all need to step back , take a long breath and just wait a few days - after the carnival things will start falling back in places.
While we all getting nervous here, Mr. Fifer is negotiating mining deal in Spain. I wonder if we can get any financial benefits from Iberia, incase they will build a producing gold mine by the end of 2012, as someone posted on SH.
I agree with mjk, PTQ is a Panama company , nothing bad will happen in a long run. In a short term- a bit of bleeding.
Fear, heard behavior - is a powerful thing. I am not saying that it is not OK to lighten up little bit, there are a lot of good plays there in silver and gold. Most of us still double or better our money even at this level. I took my principal out and making it work else were, ( agree with accanuck), but rest of it ? - let it ride.
Martinelli is not stupid:
1973, degree in Marketing, University of Arkansas, US; 1977, MBA, INCAE-MAE IX, San José, Costa Rica. Formerly: President and General Manager, Importadora Ricamar; 1977-80, Deputy Manager, Citibank; 1994-96, General Director, Panama Social Security Institution; 1999-2003, President of the Board and Minister of Canal Affairs, Panama Canal Authority; President and owner, Super 99, a supermarket chain. President, Plastigol, a plastic factory, Panama. Director: Gold Mills de Panama and Calox de Panama, a flour mill and distributor; Global Bank, Panama. Member: Panamanian Association of Business Executives; Junior Achievement of Panama; National Committee, INCAE Business School
Change his mind? - yeaa, sure... All we have to do - is follow the MONEY... Lets find a trail.
I believe some interesting scenarios has been already described.
In a few weeks dust will settled and everything will be clear... Waiting for gap-up to $ 2.00
Thanks, I will be buying also.
Chillimafia on SH is making good point. I would like to add:
Big money have much longer and larger fists and they will not lose millions that easy . They will make sure that PTQ will be working and producing gold or someone will pay a hefty price.. politically at least.
Mjk and mantaquilla, how come you don't have a twiter connection with Fifer? He might say something..
Just a month ago:
"We have one thought that we would like to share with you, as Carlos Salazar says: “There may be many Richard Fifers in the world some dedicate their life to doing bad things and some others to do good… you are not guilty of which is carried out by another that bears your same name. We are not able to copyright our names or avoid that someone else has our same name. How many John Smiths are there in this world? “.
A fact about Richard Fifer is that he is a credible and responsible person because we can compare things that the government has not done to things Richard Fifer has done in a short time. We can say that he is a man with a vision and capacity, and the proof is the interest shown by large companies to invest in his projects and ideas.
Richard Fifer really knows what he’s doing…
Carlos Salazar specilized in the mining industry and an educator, has called Richard Fifer: “The father of the modern mining industry”. He introduced the new models of the modern mining industry with the best and friendliest technology for the environment and with a high level of safety.
Richard Fifer besides being a visionary, a geologist and a scientist, was the governor of the Province of Cocle. Some of the projects that Richard Fifer has besides Petarcilla, is “La Castilla de Oro” a project whose purpose is to remodel some of the houses in the villages to hostels of 6 rooms so that the owner can managing them for profit in Cocle, Veraguas, Herrera, en la Villa de Los Santos, Nata, San Francisco de la Montaña, Parita, Las Tablas to get more touris, from Spain, Europe, South America and tourist that are looking to learn about our culture and know more about these rural areas.
People who oppose mining activity indicate that this is what does the most harm to the environment, yet these negative comments are a direct result of lack of information and culture. In not providing the right information, people do not have a good overview of the mining industry.
We can say that Richard Fifer looks for the best geologist to work with; we can mention Ariadne Holmes that right now is in Canada, Carlos Carrasco, Luis Perez Monetengro, Ana Mendez and some other specialists that form a group of study for their projects. Richard really knows what he’s doing.
Richard Fifer is a man that worries about his community. He has been working with environmentalist to try to help out in danger life. Most of his works has been in the provinces of North Cocle and Western Colon; his gold mines provide a lot of job for the people in those provinces of Panama.
Richard Fifer is a true Panamanian, a true patriot, with a kind heart. He beliefs in his country and will give it all for it. Is a visionary person that is trying to improve the world we live in.
All of the promises made of our Panamanian Government to the people and citizens were never accomplish. But in other hand Richard Fifer has been helping the community of Colon, Cocle and small villages of those provinces, for years and will still help them for many years to come. He has help to create roads, homes, even provide jobs for those in needs."
I just read BP post:
Big money thank you for all cheap shares:
Below shows the big PTQ buyers for the past 2 days
Goldman Buys 1 Mil at $1 , that is smart money buying
======================================================================
House Positions for C:PTQ from 2011 March 03 to 2011 march 04
House Bought $Val Ave Sold $Val Ave Net $Net
65 Goldman 1,047,900 1,036,478 0.989 0 1,047,900 -1,036,478
33 Canaccord 507,500 98,929 0.983 55,362 54,877 0.991 452,138 -444,052
29 Casimir 407,500 398,439 0.978 0 407,500 -398,439
2 RBC 595,553 584,197 0.981 243,968 234,834 0.963 351,585 -349,363
52 NCP 147,400 139,929 0.949 0 147,400 -139,929
124 Questrade 170,900 171,929 1.006 45,016 44,974 0.999 125,884 -126,955
73 Cormark 92,500 87,875 0.95 0 92,500 -87,875
90 Barclays 84,800 81,826 0.965 0 84,800 -81,826
15 UBS 216,500 211,459 0.977 150,350 146,386 0.974 66,150 -65,073
We have a major change of hands in a last two days, almost 5 mil. shares traded today and 4 yesterday, we even finished green ? !.. We all know who is selling, but I asked you before :
Who is buying ?
Did Martinelli change his mind? Do you truly believe that?
There is a something going on behind a close doors and in due time it all will be clear, but now we have to wonder: “to be – or not to be “, to stay or not to stay – that is a question each of us has to answer yourself depending on individual circumstances. I made my choice according to yesterday news, if situation changes – then other choices would have to be made. Personally, I would like to be $2 by year end- it is still possible.
Someone said that politician is like a banana:
They start off green.
Next, they turn yellow.
Then they turn rotten.
I hope that Martinelli has something in his sleeve..
From the local news, One more time :
Despite eliminating the reform of the Code of Mineral Resources, the mining activity will continue with the eight metal contracts in force and 83 non-metallic, without which renewed. The fines, royalties and supervision of the increased activity is regulated under the laws of 1963. The only company that will pay a 4%-and not the current 2% - Gold Petaguilla be due to a 2009 agreement.
I took a quick look - nice, when will they begin production?.
All right , all right - will place it on my radar again. I did not care that much for production cost, ( $ 11), but with silver price going up and increase production - it does not matter, I guess.
I did bought Great Panther last week - it was a good move.
Herd mentality:
Rumors and rumors, how did it all started? Yes , the Mining Code will be revised, but who ever mention shutting down PTQ. We were operating just fine under old Law and will be doing it just fine while NA is working on the new one. All this noise was about Copper , Imelt, etc.
Martinelli is playing game ( has nothing to do with change of heart). First he needs to survive politically, then try to push his agenda again, may be half of loaf is better than none.
I am only guessing. Mjk lives there and even he does not know or would not tell us . ( mjk , I will listen speculation at this point ) .
But I know one thing: unless something drastically changes- I am not following the herd.
Almost 4 mil shares were sold ! 4 mil. shares were bought !!! – and SP moved only .09 … hmm
I bet : sellers were scary small investors , and who were the Buyers ?
Ask yourself : who bought those 4 mil. shares ?
JMHO.
VB
MJK, If I were in your shoes , I would stop drinking beer ( with all respect), jump in a car and drive to the mine to hear from the horses mouth exactly what is happening there . And then would share information with your fellow posters.
It pertains Mantaquila too, ... I can't believe this sh.. With all that money you guys invested - you are kidding me.
Thanks Salvo, nice to know you still with us - LT. If it goes below $1 - I might get some more.
Salvo, where are you ? What do you think about current affairs ?
BP posted a picture of “ Carnival “. I don’t know how do they keep the mine running when such a good looking “Carnivals “ are running around.
All media is talking about the gold and silver. And we are in the business of pouring what, Tom ?
Mjk mention that someone on the BD always read our posts:
“ GIVE US PRODUCTION UPDATE !”. ALL right, after the carnival.
FG, Thanks for allowing open discussion of silver stocks.
Let's focus:
We absolutely have to do better.. All those issues with weather, equipment, etc, have to be solved and gone by now. I don't see how we can pour less gold - it is impossible. So - more gold will be poured, given.. 18Koz? Or 20K.. Will see.
Gold is $ 200 since November - improved bottom line.
ODN results eventually will be revealed hopefully double our reserve,
We will finally get analyst coverage,
PTQ = $2.00 by Fall. That is why I am here.
LO, you are the Man, MJK - so and you... Let's make -up and continue .. This has been an excellent board.
DVM, I was embarrassed a bit last week for not doing proper DD, so I took pen and pencil , spent some time and come to a conclusion that other important part of equation for me was be able to sleep well. So I sold Silvercrest and bought Great Panther,- I could not have been more happier, up 30%.
Thanks for the short but good lesson.
VB
The SP in I-box converted into Canadian $, if you converted it back to US - then it is $1.17 , same old- same-old: we are sitting on 50MA as support and way oversold. All we need is a positive news, like how much gold did they finally poured? My personal opinion - there is a lot of upside in this stock , that is why I am here.
Thanks Lo. It is good to get grounded . Yes I remember year ago we all were in agreement that PDI is just a "gravy". Somehow we let yourself deviate , myself included, my apologies. We need to shift our focus on Gold. PTQ is pouring gold, How much? When will they let us know? Gold and silver are going up...
mjk, don’t get upset please. I am the one who was saying all along that in a due time it will take 4 PTQ shares to buy 1 PDI, example : 1.25 x 4 = 5.0 ; yes PDI will be worse $ 5 today’s money
I am not sure it is a good idea, we have silent members - hundreds of people who read our posts... They would have to be re-directed.. Hmm
thanks for the pictures..
This is a good news WT, it will increase our mining capabilities to 40000 t a day !? It is a lot. Can they actually do that?
Middle east will be hot basket for a while. Not all those uprising are democratic as our media wants us to believe.
Bahram is very important US ally . The Government are Sunni Moslem, but big slice of population are Shiites, influenced by Iranians who are Shiites also. Saudis are Sunnis - so they are sending tanks to help their religious brothers.
Well, since you did not answer, I took my time reading about it. Looks like Cream might sit on a huge silver prospect. I guess will have to put cream on my radar and look for entry point.
Well, we were rested on 50MA, oversold and ready for the move,- it is about to began : Lady and gentleman , start your engines . Count-down have started.
Thanks mjk, Yes !!! my head is spinning, I saw a dream : TWO gold coins !
Mjk, then company did not call them , has to be reason why. May be they don’t need money now.. Hmm what else ?
They don’t expire until June 2013. So for example , some investors might decide to cash half of them and hold other ones longer just in case PTQ shares outperform PDI in a short time span. Just another guess.
So why do you like Cream so much , because they explore in Canada ?
OT
Lo, I’ve been reading different boards last week, while looking for silver junior. There is a guy who moderates 220 boards! He posts a lot of good info and TA on his boards but some of his links are inappropriate, like crazy anti-government, conspiracy, pretty weird. I noticed people shy away from his board (me included) and that is a shame because hurt everyone’s discussion . I-hub should do something, I think.
2 more penies up , ha ? So what is the story ?
LTS, I decided to buy GPL, I can sleep well knowing that Big money on my side. I will keep RVM on my radar, also.
FVH, You are comparing apples and oranges, GG Market Cap 35 B, $48 a share, projected to earn investors very safe 20% a year. All of us here will double our money by end of the year,