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Instead of cut&paste, read the Proxy!!!!
Been on SEDAR since yesterday!!!LOL!!!
Have someone read, explain it to you.
Seems to answer all your questions where you did not bother to do DD and find out for yourself. It has all been in the public record. No more spoon feeding, because you just bite the spoon....
So now it is all there...
Jal, Goldpet, RBZ, WADE, PMC, but you have to read it for yourselves. Explaining it and cutting it into little pieces
to spoon feed it? "Not my job, man!!!"
No more questions or complaints about why don't they tell us. You have been told in very great detail...LOL!!
Nice shot across the bow...putting the whole SEC 20-F up on SEDAR.
"Corporations are people too!"
Someone said that recently...I remember seeing it in the news.
You left out the 'rest-of-the-story'...
...very fortunately,I took my PROFITS early and now only hold a residual position, then I had to leave Panama and went to Campbell River, BC, where I have a little "special" gift shop,(Picture on Google road view) and got my picture in the paper with the Rotary (also on Google), and have been holed up here for five years now, posting over 12,000 negative attacks on Richard Fifer and his companies. It is really tough with no employees to help, but with few customers I have plenty of time to just post on SH and IH everyday, the same...the same...the same....
As you say to each his own.
Not looking to argue, but just telling it like it looks to me at the moment. Been here for about ten years. Expect family to be here at least another generation. Me...not so much because I am old and will die soon. Circle of life you know. Bottom line we are very happy to be positioned here at the start of the development of the Panama mining sector. We will have a very nice piece of the pie. We owned Inmet, we own FQM, and we certainly own a whole lot of PTQ. Whether it produces now, or five years, or ten years is really no concern. THE POINT BEING IT WILL PRODUCE AND THAT IS ALL THAT MATTERS. Very sound and safe investment from our point of view. Gold does not rust, rot, or eat, and no one is going to steal it. Same for the copper.
Really can't address the question about working for someone and not getting paid. Can assure you we have had businesses that did not succeed and certainly did not get paid!! No risk- No reward. Or as the French say,"Those who do not risk, will never drink champagne."
The majority of posters here probably have not been invested nearly as long as we have. Actually our family has been here since 1541. They probably don't control 5% of the shares that we do. Yet the dichotomy is they spend far more time vexing and stressing over what is actually not very much. We know the players, we know the territory, we think we know the future. If you don't agree, that's cool. But, why do you begrudge us our vision and want to argue? If you don't like management and your situation, then change it. We are happy, we support management, we are in control, and we will progress we believe. What others do, or like, or don't like, really is irrelevant to us.
I wish you luck whatever you do and just tell it as I see it. My opinion is free to you and supported by a lot of pro-active involvement, personal knowledge, and observation. No guarantees though!
As to PDI, if I recall...It was scheduled for a vote several years ago. Then a canvass of stockholders showed it would not pass, so the vote was canceled. Then the DB loan prevented a spin out and still does. Then it became apparent to all, that it was much more valuable to the company to retain it during these tough times and with the Cobre-Panama opportunity. Reasoning and facts are mentioned many times in PR's and discussions over the years. Referring it to as carrot is just an ignorant statement. Anyone and everyone who has been involved, in a pro-active manner, has been constantly aware of the situation, and the prudent reasons behind each decision. I for one, have been saying for a long time that I had changed my mind since 2010 and did not want to separate the companies. History I think is proving me right. Everyone one was told...you just did not come to class...or you were sleeping.
If you do not agree, then please present you analysis that tells you how we will see a great improvement in share price before 2015. It is not there in my opinion. Of course I am probably wanting ten times as much as you do to sell our shares. Fortunately for us, most large shareholders are on our side. If you don't like that then all I can say is you missed a good chance to sell and leave; you can't say you were not told. If the wind should change and somehow FQM ends up with the company, we will still be fine since we invest there also. The key to success as I see it is to invest constantly as long as the future looks good to you. That is Buffet's advice and he has done very well.
Hope the traders all got out.
Yes indeed, should have been a nice move somewhere there as the stock went from $0.26 to $0.50 very quickly on nothing but clueless speculation. Now get ready again...Q1 numbers coming in little more than a week and they will probably be much worse than Q4 was. 6,000-7,000 ounces would not be a surprise. That should cause a big sell off from short timers. Then will come the details from all these ongoing talks. No cash to stockholders except maybe a penny or two to start a dividend plan. No longer the potential of a spin out for those who have been waiting for that.
Everything looks very long term from here. Those with that horizon are fine. Those with other desires should have used this opportunity to sell and move on as we suggested. $0.30 seems like a good bottom and that will be the signal to buy again. DCA is the only way to invest in the future. Trading is the only way to make a quick buck, but you must be careful. Don't see any great increase until perhaps April 15, 2014 when Q3 will be filed. Company will look a lot different by that time, but money coming in is all earmarked for use and not for any sort of payout. Spain development, exploration in Pamilla and in Spain!
BOD still running unopposed. So just deal with that, and recognize you have nothing to say about it. If a vote on anything is scheduled for the AGM besides keeping the auditors and re-electing management, then I missed it somewhere. Must admit I am backing off paying attention to PTQ news for the holidays. Very merry Christmas for the future of Petaquilla, maybe some warrants in the stocking! 2017&2018 look good.
Time for fun and travel with the family...Can't believe Hanukkah and Thanksgiving right around the corner. Time to hunt and ski in Vancouver! Snow birds already descending on Central America!! Life is good!!!
He inferred nothing!
He may have implied however, that the write down of Lavalin is related to FQM going in-house for engineering. That write off could certainly be indirectly related to future PDI contracts in as much as they (Lavalin) had no construction contract let. Inmet was totally unable to bring in-house engineering to bear on the project and FQM has vast experience and an enormous about of in-house expertise. The mess of the Cobre-Panama engineering layout stands in mute testimony to their failures. FQM will get it done and PDI is right there with a huge trained labor force on site.
They may or may not expand on this today.
FQM has some major issues in Africa, and the recent fire, so that may take up most of the questions. However, I might add that I believe some of the issues they found in Panama related to at least three things:
1. Location and engineering for the power plant and grid.
2. Location of the major infrastructure for camps, permanent buildings, administration, etc. was in the wrong area.
3. The time lines related to planning were not scheduled 'just-in-time' properly particularly with the roads and electrical grid.
Timing is critical if the project is to be completed on time and within the new budget. Petaquilla obviously stepped up and increased their supply of road building materials and equipment supply to assist FQM in correcting some of the major issues. This was done even at the expense of production and equipment usage at Molejon. This is how companies develop good synergistic relationships.
Those who bothered to archive the Inmet Cobre-Panama plan can compare it with the new FQM plan and you will see there are major differences, both in content and schedule. Inmet was arrogant, disrespectful, incompetent, and way over their heads. Inmet is now in the dust bin of history.
The band leader is having self doubts!
He finally found the Petaquilla News Release/letter/article that everyone else on the planet has known about since 2/14/13. Has himself pretty well diagnosed. In his own words: Comeon guys, stick it to us on this, we're just a bunch of dumb-sh*ts.
Read more at http://www.stockhouse.com/companies/bullboard/t.ptq/petaquilla-minerals-ltd?postid=21864197#IaOzrpiAmfW1c0Wd.99
If you do not like the way a company is run, you basically have three choices:
1. Sell and move on.
2. Replace the BOD with your own slate at AGM election.
3. Hang out at the bar and cry in your beer.
I'll let you choose which one he is using. If you can't even read the press releases, the archived newspaper articles when a company is covered by the three leading papers, the SEC and SEDAR filings, the public records filed in the appropriate jurisdictions, then you deserve to be unhappy. When you ignore and denigrate those who actually know the facts and share them with you, then you deserve to be unhappy. When you are too lazy to actually be pro-active, talk to management, visit the project sites, and understand what you discussing and viewing, then you deserve to be unhappy.
The band leader is definitely feeling the results of his shortcomings and is very unhappy this morning. As JW said, "Life is tough. It is even tougher if your stupid!". Now maybe the band leader should try number one or number two. Number three does not seem to be helping much and we are running out of beer for the three stooges and their band leader. LOL!!!
And yet...he still thinks there is going to be a cash payout now that the deal is done...unbelievable reasoning. Petaquilla is doing fine and will continue to grow and prosper for the real investors. Now..."Go home! The bar is closed for the night. See you here tomorrow."
And there you have the logic here!!
"If Zambia is asking for more money then the price for PTQ must go up also and that's all I have to say about that."
Let's see now...If Zambia is raising taxes and instituting new ones on FQM...then the price PTQ would seek from FQM must go up also..because FQM will have less FCF to use in the purchase of PTQ????????? YES!! I guess Jal's deep DD and analysis makes perfect sense!!! ROFLMAO!!!
Elephants in the mining sector of Zambia and in Panama??? Got to hand it to him...he is really well educated, and traveled!!!
It is an honor to stand in his shadow in admiration!!!
Just got to pass this post around at the restaurant tonight...quick the buyer has less money, so we must raise our price!!! And this from the guy who thinks our management is incompetent...
Saludos,
Here you are:
Press Release Details
First Quantum Minerals Reports Third Quarter 2013 Results
10/30/2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 30, 2013) -
(In United States dollars, except where noted otherwise)
First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today announced comparative net earnings1 of $143.6 million or $0.24 per share for the three months ended September 30, 2013 inclusive of $21.9 million or $0.04 per share of unfavorable, recurring acquisition-related adjustments.
THIRD QUARTER HIGHLIGHTS 2
Strong production continued at all operations:
copper production up 36% to 114,488 tonnes
nickel production up 26% to 12,485 tonnes
gold production up 29% to 65,368 ounces
Cash cost of production lowered substantially:
copper down 19% to $1.16 per pound
nickel down 21% to $4.90 per pound
Lower metal prices unfavorably impacted gross profit by $112.9 million
Financial position further strengthened:
$410.3 million of cash flow generated by operations
$617.0 million of unrestricted cash and cash equivalents and $2,945.0 million of undrawn facilities
on October 30, 2013, the entire $2.5 billion Revolving Credit Facility was extended to June 30, 2014
Development projects continue on schedule
Full year 2013 guidance:
copper production range narrowed to between 397,000 and 416,000 tonnes
nickel, gold and zinc production increased with upper estimates of 47,000 tonnes, 250,000 ounces and 50,000 tonnes, respectively
cash cost of production lowered
copper to between $1.37 and $1.45 per pound
nickel to between $5.20 and $5.60 per pound
capital expenditures unchanged
1 Comparative earnings and comparative earnings per share are not measures recognized under International Financial Reporting Standards ("IFRS") and do not have a standardized meaning prescribed by IFRS. Earnings attributable to shareholders of the Company have been adjusted to remove the effect of unusual items to arrive at comparative earnings. The Company has disclosed these measures to assist with the understanding of results and to provide further financial information about the results to investors.
2 Results are compared to Q3 2012.
CEO'S COMMENTS
"This was an outstanding quarter across all aspects of the Company. Our operations all turned in strong performances with new quarterly production records set at both Las Cruces and Ravensthorpe. These are two particularly noteworthy accomplishments as Las Cruces was recovering from a fire in one of the plant's reactors and Ravensthorpe surpassed its previous record, by about 10%, set in the first quarter of this year. With its strong production performance and a cash operating cost of $4.85 per pound, Ravensthorpe is weathering the current low nickel price environment very well," noted Philip Pascall, First Quantum's CEO and Chairman.
"Our overall cost of production, for both copper and nickel, improved further in the quarter as a result of our continued focus on process optimization and higher by-product credits, especially with Kevitsa's substantial addition of platinum and palladium to our product mix. With the completion of our major projects in Zambia and several optimization initiatives currently underway at our operations, we believe we are well positioned to maintain or better our competitive cost position in the industry.
"These projects and initiatives were all advanced during the quarter and remain on track for commissioning and start up as scheduled. At Cobre Panama, our review of the project revealed a number of acquired technical and logistical shortcomings particularly with project planning and implementation that required immediate, corrective action. With most of this now behind us, the project is running well and good progress is being made in all areas.
"Last quarter we mentioned our ongoing efforts to establish more suitable longer-term financing, in order to maintain our financial flexibility. To provide our team the time to adequately address this, the $2.5 billion Revolving Credit Facility has been extended to June 30, 2014, and thus no longer requires repayment in December 2013 and March 2014. This represents a very positive step, and we expect to have more progress to report on this objective in the near term," Mr. Pascall concluded.
FINANCIAL HIGHLIGHTS
Three months ended
September 30 Nine months ended
September 30
(U.S. dollars millions, except where noted otherwise) 2013 2012 2013 1 2012
Sales revenues 885.4 724.8 2,655.9 2,175.8
Gross profit before Inmet acquisition accounting adjustments2 335.5 261.0 922.0 806.0
Gross profit 303.1 261.0 814.4 806.0
EBITDA2 393.1 276.2 987.7 2,051.5
Net earnings attributable to shareholders of the Company3 143.0 107.3 327.3 1,586.2
Earnings per share $0.24 $0.23 $0.59 $3.35
Diluted earnings per share $0.24 $0.23 $0.59 $3.33
Comparative earnings3 143.64 107.3 401.0 368.3
Comparative earnings per share3 $0.24 $0.23 $0.73 $0.78
Cash flow from operations, before changes in working capital 410.3 282.5 1,016.6 846.1
1 Financial results for the nine months ended September 30, 2013 include those of the Çayeli mine (100%), the Las Cruces mine (100%), and the Pyhäsalmi mine (100%) from March 22, 2013, the date of acquisition.
2 Gross profit before Inmet acquisition accounting adjustments and Earnings before interest, tax, depreciation and amortization ("EBITDA") are not recognized under IFRS. Refer to the "Regulatory Disclosures" section in the Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2013,for further information.
3 Earnings attributable to shareholders of the Company have been adjusted to remove the effect of unusual items to arrive at comparative earnings. Comparative earnings and comparative earnings per share are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. The Company has disclosed these measures to assist with the understanding of results and to provide further financial information about the results to investors. Refer to the "Regulatory Disclosures" section in the MD&A for the three and nine months ended September 30, 2013, for a reconciliation of comparative earnings.
4 Inclusive of $21.9 million or $0.04 per share of unfavorable, recurring acquisition-related adjustments.
OPERATING HIGHLIGHTS
Three months ended
September 30 Nine months ended
September 30
(U.S. dollars where applicable) 2013 2012 2013 1 2012
Copper production (tonnes) 114,488 84,144 297,490 222,198
Copper sales (tonnes) 105,859 77,396 290,459 217,896
Cash cost of copper production (C1)2 (per lb) $1.16 $1.44 $1.33 $1.51
Realized copper price (per lb) $3.10 $3.45 $3.22 $3.53
Nickel production (contained tonnes) 12,485 9,916 34,432 26,663
Nickel sales (contained tonnes) 12,335 7,120 35,310 22,298
Cash cost of nickel production (C1)2 (per lb) $4.90 $6.24 $5.20 $5.88
Realized nickel price (per payable lb) $6.45 $7.69 $7.00 $8.04
Gold production (ounces) 65,368 50,784 184,879 137,559
Gold sales (ounces) 60,391 48,889 178,563 140,953
1 Operating results for the nine months ended September 30, 2013 include those of the Çayeli mine (100%), the Las Cruces mine (100%), and the Pyhäsalmi mine (100%) from March 22, 2013, the date of acquisition.
2 Cash costs (C1) is not recognized under IFRS. Refer to the "Regulatory Disclosures" section in the MD&A for further information.
CONFERENCE CALL & WEBCAST
The Company will host a conference call and webcast to discuss the results on Thursday, October 31, 2013.
Conference call and webcast details are as follows:
Date: October 31, 2013
Time: 9:00 am (EDT); 1:00 pm (WET); 6:00 am (PDT)
Webcast: www.first-quantum.com
Dial in: North America: 800 732 5617 (toll free)
International and North America: 1 647 722 6851
United Kingdom: 0800 528 0638 (toll free) or +44 2033000086
Replay: Canada and international: 1 416 626 4100
OR
Toll free North America: 800 558 5253
Passcode: 21681253
The conference call replay will be available from 11:00 am (EDT) until 11:59 pm (EST) on November 7, 2013.
COMPLETE FINANCIAL STATEMENTS AND MANAGEMENT'S DISCUSSION AND ANALYSIS
The complete unaudited condensed interim consolidated financial statements, and MD&A for the three and nine months ended September 30, 2013 are available at www.first-quantum.com and should be read in conjunction with this news release.
BASIS OF PRESENTATION
This news release and the Company's financial statements have been prepared in accordance with IFRS and are presented in United States dollars, except where noted. Changes in accounting policies have been applied consistently to comparative periods unless otherwise noted.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
12g3-2b-82-4461
Listed in Standard and Poor's
Cautionary statement on forward-looking information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. These forward-looking statements are principally included in the Development activities section and are also disclosed in other sections of the document. The forward-looking statements include estimates, forecasts and statements as to the Company's expectations of production and sales volumes, expected timing of completion of project development at Kansanshi, Sentinel, Enterprise and Cobre Panama, the impact of ore grades on future production, the potential of production disruptions, capital expenditure and mine production costs, the outcome of mine permitting, the outcome of legal proceedings which involve the Company, information with respect to the future price of copper, gold, cobalt, nickel, zinc, pyrite, platinum-group elements, and sulphuric acid, estimated mineral reserves and mineral resources, First Quantum's exploration and development program, estimated future expenses, exploration and development capital requirements, the Company's hedging policy, and goals and strategies. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about the price of copper, gold, nickel, zinc, pyrite, platinum-group elements, cobalt and sulphuric acid, anticipated costs and expenditures and the ability to achieve the Company's goals. Although management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to, future production volumes and costs, costs for inputs such as oil, power and sulphur, political stability in Zambia, Peru, Mauritania, Finland, Spain, Turkey, Panama and Australia, adverse weather conditions in Zambia, Finland, Spain, Turkey and Mauritania, labour disruptions, mechanical failures, water supply, procurement and delivery of parts and supplies to the operations, and the production of off-spec material.
See the Company's Annual Information Form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of these factors are beyond First Quantum's control. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information made herein are qualified by this cautionary statement.
Contact Information:
First Quantum Minerals Ltd.
North American contact: Sharon Loung
Director, Investor Relations
(647) 346-3934 or Toll Free: 1 (888) 688-6577
(604) 688-3818 (FAX)
sharon.loung@fqml.com
First Quantum Minerals Ltd.
United Kingdom contact: Clive Newall
President
+44 140 327 3484
+44 140 327 3494 (FAX)
clive.newall@fqml.com
www.first-quantum.com
The ZRA has been after FQM for awhile.
The ICTD has a long paper out recommending taking total control. FQM has been dealing with the problem for quite some time and for the most part been pretty successful. As the progressive politicians have again run out of money they are determined to punish FQM. In the last couple of days the fire has been turned up.
Here is a link from this morning,(actually this evening in Zambia), where he walked back a little of what he said yesterday. However, he still states that miners,(FQM), must pay a new tax whether the are making money or not. It must be based on production and the Revenue line of the P&L, although ZRA wants it based just on production that must be maintained at the desired level whether such production is profitable or not. In other words, you will produce regardless of costs or economic sense and will pay a tax based only on our needs on the production. I don't think FQM wants any hostile activity in Panama while they have their hands full in Zambia.
Zambia Finance Minister Says Mine Tax Must Meet Country's Needs ...
www.bloomberg.com/news/2013-10-30/zambia-finance-minister-says-mine-tax-must-meet-country-s-needs.ht...
7 hours ago ... Zambia, Africa's biggest copper producer, must consider its revenue requirements when determining tax policy for the mining industry, Finance ...
IF YOU WANT TO KNOW MORE...CONTACT PMC, JAL/GOLDPET, AND INVESTOR 20501. THEY DO EXTENSIVE DD AND ARE ON TOP OF THIS VERY IMPORTANT SITUATION FOR FQM THAT MAY BEAR DIRECTLY ON PTQ AND MINERA-PANAMA. I don't have their contacts, so I had to rely on a phone call from a friend at FQM.
acanuck, FQM has serious problems.
This realignment if just to get the ducks in order for the development of Cobre-Panama. Do some DD on events in Zambia in the last 48 hours. Serious problems with the government. Huge tax on Revenue line whether FQM profitable or even viable, and then another tax on any profit also, both to be governed only by "needs of country" without regard for the company. Check Finance Minister's speech today! "We will take whatever we need from the mining companies, whether it destroys their viability or not!"
Soon...
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I really have no idea which way it goes.
At least I am not an emotional wacko standing on a soap box in the middle of the public square shouting: "GO Pascal!!!" Buying into what appears to be perhaps a totally unfounded rumor and calling all the pro-active stockholders, "Idiots!!! You know nothing!!!"
Me thinks thou needs two beach towels to remove the egg on the face, if Petaquilla's entire Panama assets are not sold to FQM as you predicted and promised. You need a new crystal ball, or perhaps a little respect for those who actually contribute here based on facts.
If you don't agree then just ignore our contributions. If you have fact based different information then post it and tell us where we are wrong.
Happy to answer badge.
First of all, "Petaquilla es Panama!!" is a slogan shouted by marchers from the 'pueblo' or non-affiliated supporters during various marches over the last few years during various moments. I think there is a picture of one march in the photo gallery. It is sometimes used as a symbol of the cultural pride or sense of ownership in the various pueblos in Cocle and Donoso that have been helped by the company. Inmet IMO discounted that feeling at their own peril. The government is very sensitive to public feelings, especially in election years.
PDI is at the moment just a subsidiary of Petaquilla and not really well known since it does not stand alone. Never heard "PDI es Panama!". Petaquilla is well known at the number one exporter in the country.
IMO, which is not shared by everyone holding large blocks of stock, PDI has a much greater potential in the long run than Petaquilla's gold operations. There is an article in today's papers reflecting that Panama is the number one location in Central America, and number five in the 26 Latin American countries for starting business whether commercial or industrial. Panama is 68% totally undeveloped tropical jungle and mountains. If not brought into just a subsidiary of FQM, it has the potential to become a huge infrastructure/service with vines stretching into nearly every corner of development.
The next twenty years will see huge growth in Panama and the law gives domestic companies first crack at the business. The elite of all major political parties also have huge holdings in Petaquilla and will influence the future development. So maybe if all things were equal, I would rather hold PDI and sell something else if that were necessary. A JV with Carlos Slim would be ideal, and he is very aware of PDI and their potential.
Cobre-Panama development news.
FM.TO: Q3 2013 First Quantum Minerals Ltd Earnings Release - After Market Close - CCBN
Time schedule critical for PTQ/PDI working with Minera-Panama.
FED announcement 2:00PM today critical for price of gold/copper.
Still no answers...
1. Just twelve trading days until Q1 filing, so what was production? 6,000-7,000oz. AuEq?
2. What was the purpose of putting out a new Corporate Presentation right at this moment? Why was it so structured? Significance of what was included and what was taken out?
3. If major upheaval is just a few days away, why is trading volume so low?
All the rumors will be put to rest...time to start some new ones...
My bad, I think 'stakeholders' know the facts.
FQM is very forthcoming to stockholders and just this week reaffirmed to me that the whole Cobre-Panama engineering plan and schedule will be published on time as promised. Lots of deep pockets are focused on tomorrow's releases and I am pretty sure Petaquilla will come up in the Q&A of the web cast.
On the very remote chance!!!
that there is one mushroom or lemming on the planet that has not seen this, here it is again:
Press Release Details
First Quantum to Release Third Quarter 2013 Financial and Operating Results on October 30, 2013
10/22/2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2013) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) will publish its third quarter 2013 financial and operating results on Wednesday, October 30, 2013 after the close of the TSX. The Company's President, Clive Newall, will host a conference call and webcast to discuss the results on Thursday, October 31, 2013.
Conference call and webcast details are as follows:
Date: October 31, 2013
Time: 9:00 am (EDT); 1:00 pm (WET); 6:00 am (PDT)
Webcast: www.first-quantum.com
Dial in: North America: 800 732 5617 (toll free)
International and North America: 1 647 722 6851
United Kingdom: 0800 528 0638 (toll free) or +44 2033000086
Replay: Canada and international: 1 416 626 4100
OR
Toll free North America: 800 558 5253
Passcode: 21681253
The conference call replay will be available from 11:00 am (EDT) until 11:59 pm (EST) on November 7, 2013.
Contact Information:
First Quantum Minerals Ltd.
Sharon Loung
Director, Investor Relations
(647) 346-3934 or Toll Free: 1 (888) 688-6577
(604) 688-3818 (FAX)
sharon.loung@fqml.com
First Quantum Minerals Ltd. - United Kingdom Contact
Clive Newall
President
+44 140 327 3484
+44 140 327 3494 (FAX)
clive.newall@fqml.com
www.first-quantum.com
Whatever...everyone knows, even you...
Go back to your stupid cheer-leading!!! You have nothing to contribute worth reading. You need to go to SH and join the three stooges. YEAH! YEAH! YEAH! GO! GO! GO! P.....!!! What a freaking insult. No wonder they would/will not talk to you. You bit on a stupid rumor started just to pull you chain and followed it to the end. Nice Job!!!
There is a letter from PTQ President in file.
PTQ pledged to honor GDCM's claim. Letter was in response to GDCM's first PR. GDCM's claim is not false. This has nothing to do with this week's news.
All the clueless rumors championed by the cheer leaders in charge about to end. News release coming tomorrow after the close of trading. Don't forget to read same. Watch the market's reaction...
Lowjack, what else does GDCM own?
I totally did not understand your post about 'red paper' and the Mexican reference. Do you know who owns GDCM? Redflame summarizes the history very accurately and concisely. Now who wants to interpret the relevance and impact of this on current events? Lots of DD digging into the public record is nice to see.
Good Morning, 8:00AM breakfast time in Spain.
Just got off the phone...
While you wait for the news to flow... a few questions can be pondered:
1. Just twelve trading days until Q1 filing, so what was production? 6,000-7,000oz. AuEq?
2. What was the purpose of putting out a new Corporate Presentation right at this moment? Why was it so structured? Significance of what was included and what was left out?
3. If major upheaval is just a few days away, why is trading volume so low? One or two million shares a day is a lot with 222 million outstanding?
4. And for our confused three stooges on SH, as you struggle with ownership of GDCM, who owns the 44 million shares of PTQ from Iberian Resources acquisition?
Finally got the paperwork finished, the ferry pilot lined up, the annual inspection finished, the test flights completed, so I'm off for a bit, after weeks of delay, to bring back our new baby for my son. Seems like a perfect time to take a break.
Saludos,
That is a good post, Progafa.
I'm not sure the money for Spain was a total waste, because I think it is necessary to get the ore to Panama, and to consolidate the acquisition of San Telmo. However, no question they got accustomed to very high gold prices and spent too freely. Accounting problems are endemic in Spain. I was vice president of a large brewery in Spain way back in the late 1960's and it was a constant hassle.
I support the decision to take care of FQM, but that did cause a problem with DB. IMO that is already resolved. Gold prices are trending back up and production is back to normal.
The immediate question is where do we go from hear. Our operations have always been profitable and will continue to improve rapidly with both gold production and FQM contracts. The question is how do things shake out relative to the relationship with FQM. I rely on the published and filed statements of both entities.
"This first amendment to the Term Sheet contemplates scenarios in which joint developments shall be conducted as agreed to in a Joint Venture Agreement yet to be negotiated and executed by the parties."
I, and others who sometimes post here, have had direct conversation with senior management and directors over the last few months, about our concerns and opinion as to the best way forward. There are several alternatives, some real, some ridiculous, that have been discussed here. Others that have not been discussed. I have no information to which I or any stockholder making the effort to be proactive would not be entitled to be given or understand. But, I am sure you know that if you are on the scene, and involved, you will know much more than those not so engaged. I am a strong supporter of the Chairman.
My gut feeling is that we will see some additional money from loans, a JV with FQM for forward contracts and sales for the development of Cobre-Panama, and perhaps some forward sale of copper for which we have built and expensive flotation circuit to prepare the copper for their use. I am not an advocate for the sale of PDI for various reasons. I believe the brand Petaquilla is very important and will survive.
Shortly we will know the "devil-of-the-details" as they say. I imagine we are deferring news at the moment out of deference to FQM. I am sure you know they will release their P&L's, MD&A in less than 48 hours and then follow up in 12 hours thereafter with a discussion and web cast about their results, and Cobre-Panama status and plans. They are committed to releasing a detail engineering plan and schedule within this quarter.
As to interim predictions, from this point I am not sure. We could go up or down for reasons already discussed on the board. Long term I am very confident in the survival and progress of the company, and expect our family along with others that I know, to be generation-ally invested. I am sure you have a feel for the future potential of mining in Panama. Our group continues to invest using the DCA method, and has only sold occasionally to capture tax losses. Each time we have immediately reinvested when the wash sale rule has run its course.
We only have about 2% of our assets invested and may raise that a little after the first of the year when we have all this turmoil behind us, and we see Q2 reports. I am sure you know there are many, many opportunities for great investments in Panama besides the mining sector. The growth to the west is tripling land values. All the new trade agreements are beneficial to those who use them to advantage.
Saludos,
Just relax Jal, have another beer.
You will eventually get back to even and then you can leave. Personally I never trade. Just buy a few shares every month and put them away. I did want to help those who trade and felt good about advising them of the short term opportunity. You did not take advantage, so be it. You have never made a dime with PTQ. Don't begrudge those of us who have been successful. We don't know or care about you, and it just puts you off your meds. LOL.
I don't trade, because on days like this I really do not know whether one should buy or sell over the next 42 days. By the way are you finally going to come to an AGM and face the people you have ranted about over the years, or are you still in hiding? Do you even know where the meeting is being held?
Thanks for the entertainment today. You really should start a losers reality show!! Did you solve the puzzle in the new presentation from Page#1 and Page #9? Probably not.....
Hey dude!! Find out who owns GDCM,ltd.!!!
Its in the record and the associated MD&A's from back in the day!!!
You are so lost in the wilderness you have no clue about the public records. Thank you so much for bring to our attention that PTQ is honoring their commitments. There was never a doubt!
You do realize there were joint officers, large stockholders, directors, etc. Surely you must know at least that much. LOL!!!
I still think anything under a dollar is a gift!! Those who bought and did not sell are long term investors. DCA has proven excellent, just do the numbers. I was speaking very carefully this month about trading the stock, no investing in case you missed that.
I would invite you up to the ranch in Arenosa to discuss the matter over some rib eyes and lobster, but then you can't visit Panama anymore. Not our loss!!!!GDCM has proved to be an excellent place to park some money over the last eight years...so will PTQ prove to be.But let's not get too off topic this is a PTQ board and GDCM has none nor needs one. No trolls there!!!
Hope those who listened to me...
locked in their huge gains from the last three weeks! Looks like about 70-75% for most of us. Not too shabby!!
For those who followed the 'dark-side' as in mushrooms, you lost another chance to make serious money that was spoon fed to you!!
investor20501 Monday, 10/07/13 03:14:50 PM
Re: None
Post # of 22459
".30 cad , ship is sinking.
pray and cry"
In the world there are winners and losers. One cannot exist without the other. Thanks so much for making it so easy for the rest of us. Granted it does not take too much expertise when you get to read the program before the curtain is raised.But, it is still fun. More news to come before the end of the week.
To those who sold below thirty as advised by the mushroom kingand his clueless following...too bad...stand on the corner with a big "LOSER!" sign in your hand!!!! Yuk! Yuk! Yuk!!!
Did you notice the big hint on page#1 vs. page#9 in the new presentation? Or did you not even know it had been posted on the web since last Friday? Took three days for anyone on IH to even notice. LOL!!!
Be sure to read and listen in over the next 72 hrs!!!
Deal is done and widely known.
Golden Dragon released the same PR back when negotiations were ongoing with Inmet. PTQ responded with letter from president saying they would honor Golden Dragon's position. "...hypothecating..." too big a word for you?
To pledge (property) as security or collateral for a debt without transfer of title or possession.
You really need to have contact with FQM. Then you might have a grasp.
Old news Badge, Published 3 days ago!!
Here is the link that was put up. You can verify on Google.
Corporate Presentation - Petaquilla Minerals Ltd.
www.petaquilla.com/news/pdf/CP20131025_AR.pdf
3 days ago ... The statements contained in this
presentation that are not ...
Company operations were/are profitable.
But of course you would not know that....you need to learn how to read a P&L. You are lost in the non-cash accounting entries. Sort of pitiful but true nevertheless. LOL!!!
Borrowed post:
goldpet
Probably a good idea to shut your trap about now.
Read more at http://www.stockhouse.com/companies/bullboard/t.ptq/petaquilla-minerals-ltd?postid=21852773#JoGvZxafpda5rF2Y.99
PLEASE DON'T STOP POSTING...THE ENTERTAINMENT VALUE OF YOUR TOTAL CONFUSION IS PRICELESS!!! Your buddy understands, but he has an agenda...
LOL! Made a lot of money with Tom B.
Making money now...you just can't stand that, can you? Deal is done and you don't know what it is and that is killing you too. $7.50 will come in a few years or so. If not for me for my family and that is what counts. Longer it stays down the bigger the piece of pie.
JAL WAKE UP!!!!It doesn't matter!
No one is seeking validation or some sort of twisted vindication from an IH board! Information is posted and opinions given for those who might be interested or might profit. Take it or leave it, it is free like a public service announcement.
You really have a little too much emotion and obsession about PTQ, and those who support management. Maybe that is why you have lost nearly all your money, while the rest of us do very well here, with prudence and cash. Me thinks...you have neither...and that is what makes you so bitter as the rest of us make money when it is so obviously easy to do so. Either your a trader, which seems pretty easy to do, or you invest DCA which is even easier. Heck, even one of the maids, or the driver, or gardener could make money on this one. The major moves are almost always telegraphed!!!
Now try and remember, you have been advised by the company that Q1 will be very, very disappointing, from a production standpoint, because of what was deemed as a necessary management decision, not a reserve or operational problem. This may cause the stock to fall for a short time. Most of the mushrooms and lemmings can't process the information that will be filed. Even you should be able to understand what is happening and position yourself accordingly.
Don't be misguided by your buddy with the souvenir gift shop. She has no shares! Follow the 'big dogs' and you will be fine. Did you read Eric's, Rick's, and Chen's latest comments this past week???
It ain't that hard even for those intellectually challenged, inexperienced, and with limited education.
Could be true Jal, however...
you seem to be unable to discern from having a wrong opinion, and committing a crime or civil infraction my defamation. A lot of difference there.
I assume you bought heavily and have a lot of gains you need to lock in before the middle of next month. Still here for the long term and supporting management at the AGM. Looking for the same $7.50 for my shares somewhere down the road.
By the way, have you and your cohorts submitted an alternative slate? The clock is running. Will you actually show up this year?
We invite you every year, but you never come and express your opinion in real life. Always hoping to actually see you explain your reasoning and seek support for your position. One share one vote is the rule as it should be. Those who don't count...don't count, but you are given an opportunity to convince others to support your position. Kind of embarrassing though, if you have no candidates. Sort of like standing on a soap box in the public square holding a sign, "THE END IS COMING!! OMG! OMG!"
Are you a buyer or seller this week? Or, just sitting at the bar annoying customers and the bartender with tears and moans, "...but what's even more sickening is there are still certain Idiot's over on the IHUB board that still shout from the mountain tops everything is fine and all is well. Man, some people are just so totally blind it's pathetic.
It's impossible to tell a fool anything."
AGREE 100% WITH YOU LAST SENTENCE!! PLEASE DON'T TELL US YOU MISSED THIS WHOLE 88% RUN-UP WHEN THE WHOLE WORLD KNEW IT WAS TIME TO BUY!!!
From the 'voice-of-wisdom???
investor20501 Monday, 10/07/13 03:14:50 PM
Re: None
Post # of 22459
".30 cad , ship is sinking.
pray and cry"
WE ARE NOW UP 88% FROM THE INTER-DAY LOW AS YOU PRESENTED YOUR WISDOM TO THE BOARD. THOSE WHO IGNORED YOU AND YOUR BAD WISHES FOR THE COMPANY, MAY BE PRAYING ABOUT YOUR INFLUENCE AND YOU SELLING YOUR SOUL TO THE DEVIL, BUT THEY CERTAINLY ARE NOT CRYING!!!! MAYBE IT IS TIME TO TAKE SOME PROFITS IF YOU ARE A TRADER, OR GET READY TO BY SOME MORE IF YOU ARE NOT. Q1 FILING IS NOVEMBER 15TH.
TO THOSE WHO IGNORED THE ABOVE POST AND ALL THE OTHER "OMG'S" AT AROUND THE SAME TIME: HAPPY THANKSGIVING AND HANUKKAH!!!!
Now go crawl back under your rock and look for some more false information to post. Still waiting for you to 'man up' identify yourself to the board, (we know who you are), and take responsibility for your posts that you must have known were false. (Common knowledge, court records, IH discussion board, SH discussion board, analysts reports, etc., the internet defense you claim, has already been rejected, go read the court transcript record.)
Who knows VB? No clue at all.
Maybe they should try 7,000,000 ounces of AuEq. in the twenty-two, (I believe it is now...)concessions that we were awarded, and a cost of production based on one-half the g/t that the twinning holes confirmed. Remember the press conference in Huelva. When the new g/t comes out perhaps that will be a little surprise too!! Just let them stew in their juices and continue to make poor investment decisions based on mushroomnesque information.
And the prize goes to you!!
Remember good ole' Law #8. Now stronger that ever in NA, and Supreme Court, and very sensitive to public opinion with election in eight months, then he is gone while CD will retain power. Although, "I personally hold no mining stock." is true as stated. Light the wrong match and FQM is dead meat. Government owns Cobre Panama. There are many callers just waiting to step in if the opportunity comes their way. Chinese have been in the Trump Hotel forever. Jeopardize the family holdings and it is all over. Blood, family relations, and friendships run very deep in Latin America. The decisions are done, the die is cast. Whether one likes it or not does not matter one bit. It doesn't really matter where it is traded or listed. These assets are in Panama and will be developed as Panama sees fit. The elite of all three parties are heavily invested in the outcome. Don't be distracted by the "politicaria".
Those counting on getting some sort of significant cash will be disappointed. Those looking to the long term future will be happy. Some are talking about the amounts of gold here or there when it is obvious they never read or never understood the Behre Dolbear reports of 2010, 2011, 2012,and not seen 2013. This includes the speculation of methods and techniques for the future. In talking about Panama, there are people speculating about resources when the don't even know the targets, the exploration results, or even the road grid that was made public a long time ago. As for Spain, it is even worse. Huge public record archive in Andalucia, and no clue here about the reserves, the methods, the timelines. Just clueless babble.
As they say in the famous poem,"you have a right to be here...the universe is unfolding as it should." Bankruptcy is not even and option or possibility under the rules here, nor is it a threat. Look at the past court cases. OMG! As he keeps saying...it is not that hard to understand. Don't worry about Richard, the BOD, or the large shareholders. They will be fine.
Anyone not willing to ride this out, and unhappy with Petaquilla, should definitely sell now before Q1 numbers are released, or just buy some more at the bottom and RIDE THE WAVE!!!Maybe five for a buck again!!!
Saludos,
FUN WATCHING THE CONFUSED ANTS!!
NOT ONE OF YOU HAS EVER MENTIONED THE NAME OF THE MAN WHO'S ONLY VOTE COUNTS, AND MADE THE DECISION ABOUT WHAT WAS ACCEPTABLE OR NOT. DEAL IS DONE AND YOU WILL BE INFORMED IN DUE COURSE. HAVE FUN GUESSING, BUT TRY TO BE RELEVANT AND NOT SO CLUELESS!!! IT MIGHT HELP IF YOU KNEW THE RULES AND LAWS OF THE GAME BEFORE YOU PONTIFICATED THE ASSUMED RESULTS!! YOU SHOULD BE ABLE TO GET TO THE RIGHT ANSWER IF YOU JUST STUDY HISTORY!!
Saludos,
IT IS DONE. ANNOUNCEMENTS COMING SOON.
Just crossing the 't's and dotting the 'i's. Lot's of legalities and formalities. Agreements already done. Public will know soon enough, no disclosure now under the rules. Happy Hanukkah and Happy Thanksgiving together this time!!! It will be a wonderful moment for PTQ believers as the news comes forth. Oy Vey iz mir!! Ham and turkey on the same table!!!??? Please...don't use the same knife!!