Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
aw,be nice.....afterall, MrFifer is ''our friend'' and he is ''on our side'' and he ''really cares about the little guy''....
believe it or not-those were some of the quotes the rah rah boys used to post...funny-they don't say stuff like that anymore-do they?
think about it-if the priority of Management is to stay on the take as long as possible,which is what it appears to be, wouldn't YOU want to throw up as much of a smoke screen as possible?and every month that goes by another cheque goes out-and don't forget that ''expense account''and when the moeny runs out-we can always do another ''equity financing''[plus those fat finders fees....]
Oh,don't be too hard on her,She's only doing her job....
I have serious doubts the price of gold or making a profit ever was much to do with this company.It certainly appears to me that the primary objective was milking the company for every dime management could get out if it and shareholder value was secondary.
All these burned out Vancouver Penny Mining stocks have to be constantly looking for a new batch of lambs,and Mkjiii is valiantly trying to do her best to pull the wool over peoples eyes.She can bleat all she wants about 'great opportunities' but the Market always has the last word.....
She's like the person selling tickets for the return voyage on the Titanic after the ship hit an iceberg.Don't worry,nothing is wrong ,the captain knows what he is doing,it's just the weather conditions....
Fifer is doing an FINE job....for himself and I'm sure he will lead the company for as long as he can get away with it...
Not only did I never say the land rights were worthless,I said that was about all we had that was worth something,and Fifer sold it,probably for less than it was worth,like he sold COPPER for less than it was probably worth( but we were told we would retain a percentage-which we later found out we didn't)That was the point when I began to lose faith in Fifer,and sold the bulk of my stock- thankfully-.I couldn't trust him,and nothing subsequent changed my opinion
Agreed-I think FQ represents good value and will likely make a decent return for their shareholders-everything PTQ isn't.....
ps....remember that rabid rah rah boy trying to say "we had them (FQ)by the balls!"......now THAT was funny,downright hilarious in fact....and you wonder why people think PTQ is a joke....it's justly earned
"Who would touch them with a 10'pole? ".....,and THAT pretty much sums up the whole thing.... I still think FQ might just be sitting back and waiting for this to go bankrupt and right fall into their lap,THEY aren't stupid.
Fact is,Gold is just a commodity like any other,and the price is cyclic like all other commodities, and despite the glassy eyed gasping gold bugs,it's NOT "different",other than the cycles seem to be quite long,sometimes about 20 years or longer between peaks(I was there during the 80's)Back then Murray Pezim (the "Pez")was king of the "we anticipate"boys and Fifer seems to have learned his lessons well,capitalizing on P T Barnums observation that " there's a sucker born every minute"
The only thing that is "different" is naive people who actually think they are "investors" play right into unscrupulous managements hands and swallow any story they put out(there's ALWAYS a "story"-huge opportunity,just huge")as they trade their dollars for paper.PTQ was a classic example.,right down to the strident cries of "poisoning the board" and putting anyone on "ignore*"who actually DARED to demand proof and accountability...
Deja vue....
*the folks who lose their shirt invariably look back and realize they put the wrong people on "ignore"
if anyone wonders WHY the MARKET has put a price of 12 cents on the stock,it should be pretty clear by now-and NO-it isn't ''the whole sector is is down''-sorry about that....
Couldn't agree more-the much disparaged Inmet offer was more than fair,and my guess is that the people who turned their nose up at it would give anything to rethink that decision now,with the share price down about 80%from their last offer.I also suspect management did not support Inmets offer because if successful it would have brought to an end their noses in the trough...nice guys,they really care about the shareholders,right?
Well,personally I think this has been a highly SUCCESSFUL venture-for Mr Fifer and his friends.It appears to me everything had gone according to plan,the plan being to set up a public company funded by the shareholders,and then milk it for every dime they could get out of it,and when they ran out,do it all over again,and to add insult to injury,pick up a 'finders fee' for the privilege.
Of course then there's the 'Great Opportunity' to pick up an abandoned gold mine for a paltry $1million and flip it for $30 million( the shareholders though he was doing them a huge favour)....where else could you do that stuff but on the public market? Certainly no PRIVATE company could operate that way....(which is SUPPOSED to be the way PUBLIC companies are run.....
Of course,dare to demand accountability and you will be denounced,pilloried and called the "Village Idiot".....too funny!
Ps,no,MrFifer isn't "my friend",and no,I don't feel "really lucky to have him on our side" or that he "really cares about the little guy"
as far as I am concerned every paycheck we sent Fifer,every charge to his expense account is throwing good money after bad....trust me,if he stays on,look for another LomPoy type property flip like he pawned off on the shareholders who actually thought they got it ''cheap''.It was a ''great opportunity''alright-for Fifer and his friends...tell ya,we just don't NEED more of that...
The unpleasant fact is you can't just turn your back on the devastating results of reckless overspending ,the only way to rectify massive dilution is consolidation,tough medicine but better that than no chance at all.
We need a clean sweep,new management, BOD,and restructuring the stock and recapitalization.Nothing less will do.
People are entitled to any opinion they want,the only one that counts is the price the market puts on it
"There are some good things coming down the road that will make progress easier"...,like dumping the people who got us into this mess,ran up debt and diluted the stock....serious roadblocks to achieving success.But I do still have some vestige of hope-did you notice the stock went up a bit as we "anticipate" firing Fifer?
Ps-I nominate mkj111as"illusionist of the year"-,the "smoke and mirrors "lady in this circus,,anybody care to second that?
VBgood,you're so typical of the "positive" boys grasping at straws,I am on record of stating my vested interest in the company,be it directly,or indirectly.You just can't seem to "get it" that by demanding accountability and holding managements feet to the fire,refusing to swallow the 'story' people,unfortionately called "Bashers" and accused of "poisoning the board"is the ordinary shareholders BEST FRIEND. You listened to the WRONG people(like I used to do and LOST money,now I MAKE money,mainly because management isn't "my friend")
What I am saying here is ,due to the MASSIVE dilution,as a direct result of Fifers insatiable appetite for spending other people money,we HAVE to consolidate the stock.....it's the ONLY way we can get out of it....you are well aware I've been taking management to task for their reckless overspending resulting I the massive dilution,but NOBODY wanted to listen and now we are between a rock and a hard place with our backs against the wall.Its NOT pretty,and rectifying it is going to be painful,but it's better than the alternative-going bankrupt and off the board
We're also going to have to consolidate,there's no other way out of it.Nobody is going to recapitalize the company to rescue the shareholders who should have fired Fifer before he got us into this mess.Fifer,meanwhile is laughing all the way to the bank,he's already got HIS money...
"Won't we be doomed if Fifer stays?".....we might already be,but at least we might have a fighting chance if we do a clean sweep on the management that brought us into this mess ,replace the BOD that allowed it,bring in experienced, competent and ethical people,restructure the stock by a 10 for 1 consolidation,and then recapitalize it.
Tough medicine but I don't see any other way out to redress the massive dilution that is hanging on our back.I can't see anybody financing it otherwise,and they sure aren't running a rescue mission paying for bad management
That would at least send the message to the Market we were serious.But nothing less will do.
The unfortunate reality is even IF he was fired today,he has ALREADY made his money(did you make yours?)
It doesn't even MATTER to him ......meanwhile the company has been gutted....tell ya,with friends like that a man don't need enemies.....and people STILL defend him?
The only puzzle to me is why it took this long to get a groundswell going to oust him,concerns have been raised for a long time by once loyal supporters who decided to get out while they still could( in retrospect,the smartest decision they made)
"Fifer would collect his paycheck"-UNBELIEVABLE!-why on earth would ANYBODY want to keep Fifer of the payroll after running the company into the dirt?He's HAD his turn at the trough and for far too long(check the chart)
Play that song"Hit the road,Jack"
Yes,I am vindicated ,to this point anyway,I am on record for saying in my opinion the quickest way to double the shareprice would be to fire Fifer.However,bring "vindicated" is small comfort to watching what might have been a viable company gutted and milked into a crisis where we are now.Management entitlement is unfortionately the most common plague of junior stocks and has been the ruin of many small companies that might have made a decent return for the shareholders not just funded the lavish lifestyle of incompetent management who were really good at spending other peoples money.Flipping the LomPoy had to be one of Fifers biggest coup's -at the shareholders expense( that triggered some major shareholders decision to sell)anybody who dared question it was subjected to the usual bully tactics by the "positive"boys who touted it as a 'bargain'(it wasn't)
Yes,I believe this company COULD survive and possibly even become profitable but not without major share restructuring and a complete change of management.
In retrospect our best hope was the much derided buyout offer by Inmet.....looking back,I suggest a lot of people would like to rethink that decision to turn them down....we'll never see an offer that good again.
My education wasn't free....
Someone posted the insider share positions,Fifer was the only one left holding stock and even he held a small amount(clearly he has little vested interest in the company)
It sure looks to me like they took the money and ran,leaving the rest of the shareholders holding the bag"anticipating"
I seriously doubt the chances of the company surviving under the present structure,it will take a major restructuring* to make it viable under the best of circumstances.
*the fate of almost all of these burned out Vancouver Penny Mining stocks.
"Personal attacks"-now that is TOO FUNNY! Anybody who DARED to question this 'great opportunity" was subjected to all manner of personal attacks,pilloried ,insulted and name calling.....funny how things change when the shoe is on the other foot ,isn't it ?
If you don't think the "sky is falling"then check the stock chart.It's an unqualified disaster ,we are out of time and out of money and quite possibly beyond the point of no return.The share holdings of the insiders would seem to indicate they think so.
Many of the strongest supporters (ie:Det.Mcvitie) saw the light and sold a couple of years ago,saying there were"too many questions,not enough answers".One of the original backers sold for the same reason.Nobody wanted to listen.The rah rah boys continued to denounce anybody who dared to demand answers as they insisted "nothing was wrong " which brings us to where we are.
Personally ,I think the only option left is a 10 for 1 consolidation (to rectify the massive dilution) and recapitalization.New management is without question.Tough medicine,but it's our only chance for survival.The shareholders are going to take it on the chin,meanwhile MrFifer and his friends are laughing all the way to the bank.Great opportunity,just great-depending where you are in the feeding chain...
The lack of transparency* when they sold COPPER was what initially caused me to wonder about Fifer,and thankfully, I sold my stock at a very good profit.
* we were told we would retain a percentage of Copper( we didn't)we were told we would retain the rich copper sulphite overburden( we didn't)none of this came out,we learned it later.Since then,that has been the story of this company,failed promises,lack of transparency, failure to do what they said they would do,all the questions concerning the acquisition of the LomPoy,and for this we paid an exorbitant remuneration package and ended up with massive dilution.The handwriting was on the wall for anybody who cared to see it....
one thing I learned a long time ago,IGNORE the so called "bashers"(anybody who isn't in love with management and demands accountability instead of swallowing the story hook line and sinker)at your peril,they are the Penny Stock shareholders BEST FRIEND
My involvement with PTQ was in two forms,one my personal holdings(which I sold when Copper was spun off,and I lost confidence in Fifer) and secondly through a holding company which held PTQ in its portfolio
I have made no secret of my vested interest in this company.My initial concerns about Fifer have unfortunately been bourn out,nothing has convinced me otherwise.I am on record as stating in my opinion the stock would likely jump on the news he had been fired,an opinion that was openly derided until now
And do you actually think the MARKET isn't WELL aware of that?Course,they are,and have out a VALUE on it-12 CENTS.....
And if the outlook is as rosy as you would have us believe,then WHY did the INSIDERS dump their stock?Why has Fifer DUMPED most of his?I suggest that they,better than most of us,know full well what the situation is....go ahead,IGNORE that if you like....but the MARKET isn't,they JUST DON'T BUY THE STORY.,now I wonder why not?....funny that,isn't ?
You better believe I have " been dogging this company for years"-in fact you can superimpose my posts demanding accountability right along side the CHART for the same period.....IGNORE that if you like, the Market isn't.....
And before you start bleating on about "not owning shares"-check out the INSIDER positions.....got a smart mouth answer for THAT?
all Politicians ,including Management gets away with what they do counting on voter apathy to not oust them.You don't "negotiate" with politicians,you vote them out.Same goes for incompetent management who operate with entitlement,fire them,fire them NOW.
My only fear it's already too late,like bolting the barn door after the horse has gone,we have very little left now,and no money even if we fired the lot of them.The hard cold reality is Who wants to throw good money after bad investing in a low grade marginal gold mine that may well never make a profit when there's so many other opportunities to invest in companies with an unsullied reputation?
Face it,most people here aren't looking to MAKE money,they just want to RECOVER what money they LOST because they listened to the WRONG people.
Been saying this for YEARS and earned nothing but abuse for daring to demand accountability.....too many questions and not enough answers?The MARKET wasn't fooled(check the chart) even if many of the shareholders were.Makes me wonder if this wasn't Fifers plan all along,get the shareholders to fund his lavish lifestyle which appears to take precedence over making money for THEM,the OWNERS,who got the wool pulled over their eyes "anticipating"
eg : Got your PDI shares yet? Still believe we are we going to be a 150K mid tier producer by "next "summer really worth $5? Still buy the excuse that the cause for our stock crashing to 12 cents has nothing to do with management because "the whole sector is down" ?Still think "we are really lucky to have MrFifer on our side"because he "really cares about the little guy"?
Give your head a shake....
yadayadayada,more ''we anticipate''...sure looks to me like just another in a long string of sops thrown to the fed up shareholders to try and DIVERT their attention from the PRESENT issues and focus on some FUTURE mythical carrot on a stick that always is one step ahead but never reached[got your PDI shares yet?]..... I put it to you the ONLY thing we don't need to ''anticipate'' is the STOCK CHART -that we know for sure and unlike what Fifer took out of this company,thats an UNQUALIFIED DISASTER....
but hey,maybe I've got it all wrong-lets see what price the MARKET puts on it tomorrow[won't be holding my breath though,deja vue]
More questions....the issue has been raised about processing LOMPOY ore in Panama,suggesting due to the difference in ore,the process would not be feasible in the Panama facility,which then raises the question why did we even buy the LomPoy to start with?
Was it to facilitate the very profitable property flip Fifer undertook by buying the abandoned gold property for $1 million and convincing the PTQ shareholders they got a "bargain" at $30 million?
sure looks like PTQ was a "cash cow",but NOT for the shareholders....
Will someone please explain to me WHY we should "negotiate'"with fifer for ANYTHING?Fire the guy,fire him RIGHT NOW ,IMMEDIATELY,yesterday would be even better,don't give him one more thin dime,why on earth would we keep him on- so he can milk the company for MORE?
On the bright side,the maximum downside "risk"is only about 12 cents now....heck of a deal,huh?
If you want to talk about the " level of vitriol being spewed out" go back and read about the "level of vitriol " being spewed out against ANYBODY who dared to demand accountability from these guy over the past THREE YEARS....name calling,insults,and intimidation,the whole bit....and while most of them lost money
are gone now,( we never did achieve that "anticipated"150 K mid tier"status and we AREN'T"really worth"$5,chances are we NEVER will be)they were WRONG,we were RIGHT
REALITY is a tough pill to swallow
BEST rumour I've heard in a LONG time!( like THREE years,corresponding with the chart)
all I know for SURE and that is ANYBODY who listened to the ''positive'' boys made about the BIGGEST MISTAKE they could have...
FESS UP NOW-the WRONG people were put on ''ignore''
HUGE NEWS! about time,long overdue,but better late than never.Hopefully it's true.....you don't put the fox in charge of the chicken coop
Translation-just leave everything the way it is,carry on business as usual,nothing is wrong,don't rock the boat,carry on letting fifer milk this for every dime he can get out of it until the lights go out....yup,that's just fine...
Of course,don't look at chart(and if you do,it's nothing to of with management,the "whole sector is down")...be positive because we're going to be a 150 K mid tier producer really worth $5 by next summer..and besides,we're going to get our PDI shares by "next spring,at the latest"......yup,that's right,because they said so,right?
Joke of the week-"all debt repayments"will be made from "internally generated funds"- now that's funny,it really is....( I suppose the unpaid workers will show up for work because they think they will be paid from these"internally generated funds" as well)......and I fully expect the share price will jump on the opening