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Again, I can only "hope" that investors out there who don't belong to our elite 90+ on Ihub and have no idea what is going on.
Of cause some in our group have a little idea... such is a life,
sorry I couldn't resist. ;o)
Badge, I don’t know about celebration yet, but the Deal definitely gives us a new Life.
Hopefully management will excises the caution in concession development and be more prudent.
Badge dont panic, you will feel better soon.
Petaquilla es Panama , still.
What is your solution then?
As a minimum they will get $ 50 mil to pay off DB and some. JMO SP should settle down and might even come up. Our finances will look better , not worse.
On a high end. If we‘ll get $ 80 mil. For once it would stop the bleeding by paying DB off.
PTQ would have enough money to resume operation and if gold comes back to $1400 - we actually become profitable again.
The question is how much or what it would take to get LP back? It is a crucial peace to PTQ future, unless more gold discovered on Panama/PTQ concessions
Bobby, I don’t blame anyone for their strategy.
Some people wanted a quick turn around and that’s fine.
Not everyone wants to be Long.
And some of us had been Long long time.
Everyone wants to make money. The question is: are we going to make it by end of this year or next one.
I don’t much care about it.
Best possible scenario for me would be paying of DB and going back to 20,000 oz per quarter, like they used to, before they overextended themselves with LP. Gold is going back – so there is a hope.
That would be good news. Board really turned sour last few weeks and granted PTQ performance is far from stellar, but they (PTQ) have a trump card and finally it gave them opportunity to play it right.
If proper executed PTQ can get back to gold production, avoid selling the company when they down and “live to see better days”.
I understand – those who wanted a quick turn around on their investment would prefer full sale of the company, but this is not in a cards.
Petaquilla will survive, SP will fluctuate thou. Better days are ahead.
Badge, I don’t mind negative post , what I dislike - are personal attacks, but enough of it.
Petaquilla - yes, I am not happy.
I am not happy with 3K oz. being produced and I am not happy with negotiations.
We have reduced production due to yearly maintenance , but overall production is running on minimum level so this coming Quarter will be bad also.
At this point Petaquilla finances don’t look good so we need this Deal . And that is why I am hopeful,
hopeful that Deal will allow PTQ to “fix things up” pay DB-off,
Hopeful we get production going 100% by 4-th Quarter ,
hopeful we get Spain back .
hopeful that by end of the year gold is at $ 2000 oz. and we making profit again.
Of cause I am concern, I think Petaquilla is “down” but not “out”, yet, let see what Richard will pull out of hat,
He might surprise everyone. GL.
Bobby, everyone is still here, we just don’t want to participate in a discussion with a few here who instead of talking company- make personal attacks. GL.
JFF, F-U and you buddy.
Common PMC, you not that dumb. Gold going from $1800 to $11000 was knockout blow to a lot of juniors.
But I believe I can still make money here, you - don’t, as you have no shares.
I invest in a company because I believe I can make money.
There is no way in hell I would ever keep my hard earn money in a stock where I don’t trust management or do not like the company and what they do . I would take my losses ( if I have to )and be gone in a hard beat.
You and few others... Have you ever see movie Dumb and Dumber.
Anyone can be Monday morning quarterback, but when it comes to Petaquilla - Mjk and few others on this board who live in Panama know much more then both of you.
I guess we will find out very soon, then we’ll see who is laughing.
Interesting article. But what separates Petaquilla is PDI. Petaquilla can fall back on PDI production while gold price is recovering.
There is geographical location also which is subject for FQ interest. I think we know soon how good all those factors will play in our favor.
Markets are crashing – gold is hanging tough ... as pages turn.
Jal, this is absolutely not true.
I posted it before. If you talk to Nick he will explain what those shares were, They are not Fifer shares. Sirotisky’s shares are green meaning he simply stated them in the beginning of the year.
The number is in green color - I like it.
Gold was always by-product:
Reserves & Resources
Mineral Resources – on a 100% basis and inclusive of mineral reserves
Contained Metal (x 1000)
Category
Tonnes
(x 1000)
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mo
(%)
Cu (tonnes)
Au (ounces)
Ag
(ounces)
Mo (tonnes)
Measured
262,000
0.56
0.13
1.5
0.009
1,476
1,118
13,000
24
Indicated
3,941,000
0.34
0.06
1.2
0.005
13,342
7,888
157,000
214
Total
4,203,000
0.35
0.07
1.3
0.006
14,820
9,006
170,000
239
Inferred
3,686,000
0.23
0.04
1.0
0.004
8,318
4,396
115,000
156
Mineral resources as at August, 2012, were estimated by Robert Sim, P. Geo., of SIM Geological Inc. Mineral reserves as at December 13, 2012 were estimated by William Rose, P.E., of WLR Consulting, Inc., Both William Rose and Robert Sim are Qualified Persons under National Instrument 43-101. Both mineral reserves and mineral resources remained unchanged at December 31, 2012.
Jay, maybe it was by design , gold was around $1100 that time.
And not to forget while some posters on SH board moan and groan about their investment- PTQ BOD actually worked very hard to make money for their shareholders. 2013 was not an easy year for all mining companies. Almost 30% of them went bankrupt and the rest of juniors – would love to be in our position, not only talking about gold price improving (and revenues) but other exciting possibilities which might happen in near future.
A lot of mud being posted on both boards, but the facts are:
"1. Richard received 44 million shares from the sale of LP! (NOT TRUE) Nothing factually official has ever been presented.
2. Richard has dumped nearly all of his 44 million PTQ shares! (NOT TRUE) Nothing factually official has ever been presented.
3. Management has sold their shares and not longer has a vested interest in the company! (NOT TRUE)
4. Production has stopped for several weeks at Molejon! (NOT TRUE)
5. Negotiations have stopped with FQM and the company is bankrupt! (NOT TRUE)
6. An insider has sold almost a million shares! (NOT TRUE) Canadian Insider totally wrong, name the person!
7. LP has been lost in Spain! (NOT TRUE) Just an interview with a local entity that was rebuffed the next day by Mayor saying PTQ BOD was acting diligently.
And on and on it goes. Then comes the complaint that the company is not communicating and responding to these absurdities. Why should they, since on the face of it they are not true? Then comes the stupid declarative statements. PTQ is done!! Stock is going to $0.10! All hope is lost, we are done! FQM will take our assets for pennies on the dollar! There is no more gold! etc., etc..
Meanwhile things continue according to a reasonable plan under the sector circumstances we find ourselves caught up in today.
Everything is moving according to plan in an orderly manner. Large stockholders and serious investors are well informed and soon
all will know the results of management's efforts to protect the stockholder value. Some who listened to the hysterical clamoring
of the ignorant and uninformed will see that they missed the ship and will be even more bitter than they are now. Those who did
not maintain their percentage of the company and average down when they could will lose. But then, that is the way it usually happens. Those who acted with prudence responding to actual fact will make money as they always do in such endeavors.
So now it is time for the final football game and the start of a new month that should be very good for those of us who stuck it
out and had faith in our team. Considering all the mud slinging during the month our share price held up pretty well!!"
I was just speaking figuratively.
Never the less PTQ does not trade as a normal stock. You saw yourself so many times someone makes $50.00 “buy “or “sell” to...
G.I. another important point I got from CC (and Mjk mentions it also) that FQM got money now.
Plenty of money for Cobra to do what needs to be done to get their project going.
No, you wrong again as always, target is $.70 according to Zacks.
And pilk is correct, PTQ is not trading as normal company, $50.00 trade can push this stock up or down 2%. Overwhelming majority is not trading at all.
Most of the time was spent discussing financing, I like that money are available now and they have strong relationship with Panama government.
Also skill labor and contractors were touched… everything is going according to Plan.
Most of the time was spent discussing financing, I like that money are available now and they have strong relationship with Panama government.
Also skill labor and contractors were touched… everything is going according to Plan.
I would not jump to conclusion. In this case it is simply a by-product. But details are between the lines.
First Quantum Minerals Ltd. (FM) raised its estimate of the cost of building the Cobre Panama copper mine to $6.43 billion while boosting the production target.
The company forecast annual production of 320,000 metric tons of copper at the mine starting in the first quarter of 2018, the Vancouver-based company said in the statement today.
First Quantum acquired the project from Inmet Mining Corp. in a C$5 billion ($4.5 billion) hostile takeover last year. Inmet’s plan was to spend about $6.2 billion to produce 266,000 tons annually from 2016.
First Quantum “management’s target had always been a $1 billion cut to the budget $6.2 billion,” Patrick Jones, an analyst at Nomura International Plc said in a note today. “So we believe the market will likely take the capex change negatively.”
First Quantum estimates the life of the mine to be 34 years and the cost of production at about $17,125 a ton, it said today. The rise in production will offset the capital expenditure increase, delivering the projects “at a lower capital intensity of about $17,000 a ton vs about $23,000 a ton previously,” Jones said.
Inmet spent $913 million on the project before the takeover, First Quantum said. The new owner also spent $1.46 billion as of the end of November, it said.
Opposite is true.
Yes, but the question is who bought those 934K shares.
I see it now, they were sold
bobby , where did you find this transaction?
Even thou situation with Canal construction seems have nothing to do with PTQ there are some interesting observations one can make from whole situation.
First we hope that FQM/ Mr. Pascal pays close attention to those negotiations, it might help him to understand how Panama people feel about foreign company not follow on their promises.
Secondly, if Government decides to take project away from Sacyr and finish it by themselves then there are some interesting possibilities which maybe too premature to discuss… ...
And, just for folks who don’t pay attention to Panama politics- Mrs. Martinelli is running for position of vice-president and as PTQ shareholders we should all wish her good luck.
Maybe our Panama residents can share more on this subject.
The Canal Administrator Jorge Luis Quijano, asked for patience from the Maritime Chamber of Panama during a meeting where they discussed the situation faced by the Panama Canal Authority (ACP ) with the expansion of the waterway , then, is acting within the contract.
Quijano refers to the conflict that has the authority to Grupo Unidos por el Canal ( GUPC ) , led by the Spanish Sacyr , which was publicly unveiled on 30 December, when the consortium said it would suspend the construction of the third set of locks within 21 days if not recognized a cost overrun of $ 1,600 million on the amount of the original contract term was extended until 31 January.
He added that the situation is difficult Canal , so it all depends on the negotiations that take place this week when they meet again with GUPC .
Quijano also announced that if no agreement is reached with GUPC , the ACP will continue the work.
Panamanian President Ricardo Martinelli , said today that negotiations with the Spanish company Sacyr by the Panama Canal expansion is not going to get out of the contract signed , "because in there are all the clauses for dispute settlement .
"Everything has to be negotiated in the contract. The contract is clear , specific, and has all forms of dispute resolution and claims that may be ," Martinelli told EFE after participating in the World Economic Forum at a dinner centered Latin America.
Panamanian President expressed the hope that an agreement can be reached after Sacyr and Panama have been given until 1 February to try to resolve the conflict that keeps the work slowed since late last November.
But as made clear from Davos, " everything has to be negotiated within the contract as stipulated as such , because in there are all the clauses for dispute settlement , how to do it , referees, appeal periods , etc." .
Martinelli said that " as a country and Canal Authority " will be governed by what was signed , and warned that the work was going to end but not reached an agreement with the builder.
" If , God forbid it , can not agree, the work is going to end . 's Claims or end up with ... is going to end , rain or shine ," he said in remarks to EFE.
The president also acknowledged that the conflict has affected the image of Spain : " I think it goes without saying , because Sacyr is a Spanish company , a highly respected and well-known company in Spain , and any news that may come out of a Spanish company logically affect other businesses. "
Sacyr leads the Grupo Unidos por el Canal ( GUPC ) , in 2009 the largest contract of the expansion of the waterway contract to build a third set of locks for 3.118 million dollars.
On 30 December, Sacyr, informed the Panama Canal Authority (ACP ) if not contributed 1,600 million in additional costs , which had been left without cash , suspend works .
Nice to hear from you, Digi. I hope everything is OK.
Hi acanuck, are you getting back? There are some juicy rumors around.
Nice post , MJK.
And you Jal - hold on to your few shares, you might make money with us despite your stupidity ,whining and barking.
Yes, I hear the same, interesting time ahead.
You have not a slightest idea what I know , knucklehead.
The facts comes from Company communique , on a message board we exchange rumors also, I think it is OK to do that.
I have no answer, Badge. If I knew 100% what I am hearing - I would bet my ranch, but …