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Progafa always talked about selling Panama assets.
MJK if I remember correctly mentioned JV and refinancing, so let see what happens here. SP is up so be happy.
In any case it's win-win.
One more time, you MJk is trying to help them understand Latin America.
I mention this before also, some stuff you can not discuss on the open forum. People need to read between the lines.
Those who were prudent with their investment and bought low –sold higher or averaged down will be well rewarded in any case. Others better sell before first Q results, as you mentioned before.
That was just a “hook”. In reality- We absolutely need Moleron Plant to process Spain's ore.
BOD might decide to sell PDI or whatever, but not a plant I hope.
I don’t know what "investor" is talking about but rich Spain’s ore is very profitable, that was old report he might referring to when gold was $300 oz.
$ .90 for Panama will make me happy.
Jal, Petaquilla is not just another company, it is a small one but it is Panama’s company, First Quantum is not. Richard Fifer is Panama businessman with a lot of political cloud, Pascal is not.
What ever happens - I am sure Philip Pascal will make a deal which Richard is happy to accept, there is no other way about it.
And if Richard is happy - I will be happy too. That’s a bottom line.
Investor, what about news:
PDI sold for $$$$ we getting div.$$ Spain 43-101 confirms 4 mil oz. of gold .
Wow, checking my account!
Why you sold out on idea that company will be taking over?
This is just a rumor. Something is coming but we discussed other possibilities including JV, re-financing, partial buy-out and on and on.
SP confirms big news is on a way and that is all.
Don’t forget FQM Conference call , I am sure someone will ask Petaquilla question.
A lot of talk on this board, but as they say this days: X- factor. And RF is X-factor .
Never underestimate Richard Fifer, what he is to the Company, to Panama, to Panama people and politics.
“Petaquilla es Panama'” - need to be taken seriously by everyone involved, including Philip Pascal but he already knows that.
Let’s be serious, a lot of things can possibly happen here , but if you do you DD on FQM and Pascal then you will know:
In Panama, hostile takeover by FQM will never happen, mark my words.
OK, I can think about $.80+ but what is wrong with my idea of selling PDI, use money to pay all the Debt and continue with Spain /Portugal.
In a few years when gold comes back- PTQ will worth so much more $$$$.
With Spain rich ore PTQ can actually become mid-tier (jal?).
This is just an empty talk, no one is selling PTQ. This is mushroom- rumor.
And even if it was true- 130 mil !!! Give me a break, I would not vote for $.60 and rest of large shareholders.
I rather sell PDI and pay all the loans and continue with Spain and Panama.
It is just a wishful thinking on your part. You have no proof. Company is not going to be sold out. RF is not going anywhere.
JV and Loan - that’s our present.
Changes absolutely taking place. In two - three weeks we will know much more. But today we can only theorized that it is either JV and re-financing or partial buy-out.
I am curious just for the sake of argument, who on this board would choose to take whole cash payment and leave and who would rather take partial div. and continue with Spain/Portugal..
Geico, I don’t think Spain will be separated, but I am surprise you don’t see Spain as some of us do.
Spain reserves which I believe will be published after New- Year will at least double of what officially has been reported.
We were not allow to use old data from SRK and Cambridge, but updated 43-101 will support previous findings.
We can easily bring rich ore from Spain, it’s done all the time and process it at Moleron until new plant is build.
Our production cost might goes up to $800-850 but if gold goes up as I think it will- we should be OK.
Here is a piece from older article:
“…At the time Newmont took an interest in Lomero-Poyatos a little over a year ago it contained an indicated resource, based on the AusIMM JORC reporting system, of 16.45m tonnes containing 1.6m ounces of gold and more than 4m ounces of gold equivalent of silver, copper, zinc together with a small amount of lead. Bramhill says that SKR's consultancy work is continuing and it will produce a resource estimated - again based on the AusIMM JORC system.”
And of cause our Doctor used to work for SKR, he knows first-hand.
Some people need to learn polite way to communicate with fellow board member... We had intelligent discussion while he was gone .
Richard would have very hard time to get Petaquilla go .
It is his pride and huge accomplishment.
Then- what you propose would happen to Spain?
Somehow Spain has to be separated from the deal and PTQ investors should still be part of that venture, isn’t?
Good point but Philip would have to pay premium to get deal going. Maybe $ 220 mil…+ It just feels like JV to me still, but I like yours and German thinking ;o)
Bob, they got ahead of the game in Spain OK, but don’t forget - they got hit with double or even ”triple whammy”.
Price of gold failing to almost $1200, loan difficulties and FQ request to do additional work.
Taking this under consideration I would like to believe they learn their lesson and Q2 production will be back and PDI will be doing even better.
Combine that with possibility of solving DB loan - Petaquilla still look good for me , specially if gold comes back next year.
But let put yourself in Philip Pascal shoes, why would you want to buy Petaquilla?
You (Philip), you behind the schedule with Cobra,
you don’t have too much money to waste and you definitely want nothing to do with little gold operation,
you will have plenty your own as by-product.
The only thing you can use is PDI.
But Petaquilla already proved to you that they will abandon their own needs and serve your interests first, so why deal with headache owning small construction company if you can subcontract them- #1.
#2 - it is my (Philip’s) policy to get along with local government and local contractors, so no hostile takeover will ever happen.
#3 - how much PDI stand along even cost?
Why should I go thru BD and spend money on more BS, I like the way things are:
“Richard, can you send a few trucks here for a few days? Thanks.”
Petaquilla will be fine. A lot of good news in a pipe after warrants.
Progafa, by December 24 : Gold price at $1400,
DB loan is satisfied or refinanced, new machinery has been purchased, PDI contribution into FQ increased, our second Q production is back to 20000 oz.
Would that be positive enough?
Thank you, lets talk money.
Thank you, lets talk money.
You cannot hide behind internet as a little kid, this already went thru court, wrong identity case was discussed years ago on this board.
You are fully responsible for false accusation and if you continue to do so, I will personally make sure that you ban from this board. goodbye.
pilk, check your SH inbox.
What a heck you bringing old filth here.
We discussing how to make money not old false wrong identity case, get back on a subject .
MJK, you talking to the wall. They don't understand without Fifer Petaquilla would not happen.
Why would you sail on a ship if you dislike a captain?
Pilk, go to SH and send him e-mail, he will get you in. .
Pilk, go to Google Petaquilla blog for complete information.
Progafa, if you as close as you claim, than you should know outcome and it is not sell off .
Fifer is not the only one, large shareholders have to be satisfy and they will not agree on that price. It is JV+.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 22, 2013) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (FM.TO)(FQM.L) 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
Agree, they know exactly what is coming.
Yes, The News is coming soon, but why everyone thinks it is a company buy-out?
I can somewhat agree on partial buy-out but not the whole thing. Most likely it will be JV.
Let’s think a moment : FQ does not need a little gold producer, FQ can use much larger PDI.
Gold is coming back and Richard Fifer unless he is ready for retirement wants his Plan/plant to succeed.
SO, it is not over for Petaquilla, not yet.
We run-up almost 50% , it is prudent to take some of the table.
But I don’t think it is over yet.
Investor, I agree that first Q will be bad and we will know soon, but not the second one.
By now all machinery issues are behind us so second Q production should be just about normal.
I am not telling you when to sell, but I will hold on until mining sector comes back to a favor, by that time our SP and evaluation should be much higher.
Thanks MJK,
on SP action today, can we say:"short squeeze".
Yes!!!
Badge,
I hope MJK’s answer shed some light on your question.
I agree, we not going to hit 100000 oz for the whole year, our first quarter not going to be good while we are shuffling and purchasing our equipment between PDI/FQ and mine needs.
But second and third quarter production should improve significantly.
A lot depends on how fast we get rich ore from Spain also.
DB loan- I think something is happening to rectify this issue, a lot of news are coming, SP is tell-tell.
Steve talks about “updated target $1.04”, normally Zacks target is six month but can be a year.
So theoretically speaking he is correct if gold goes back at least to $1500 and we are producing approx. 100000 oz a year, taking in account all the work PDI is doing and Spain development – it is plausible to put a price tag on Petaquilla as $1.04.
Have a great weekend.
VB
"Positive boys" knows much more then you think, we just don't want to waste our time arguing with you. Personally I don't mind talking to Jal or Badge eventhou we disagree, I have certain "feeling" to 'comrades" who were here since day one, but YOU - is another story, you poison this board - that is why we walk away, stop posting - maybe we come back, in mean time:
By Steven Ralston, CFA
Last week, Petaquilla Minerals (PTQ.TO) and (OTC BB:PTQMF) announced the completion of an updated NI 43-101 compliant technical report on its Palmilla gold project. The report expanded and upgraded the resources from an estimated inferred resource of 502,800 gold equivalent ounces (using a cutoff grade of 0.30 g/t Au Eq.) to an estimated measured & indicated resource of 841,000 gold equivalent ounces and an inferred resource of 269,000 gold equivalent ounces (using a cutoff grade of 0.35 g/t Au Eq.). The measured & indicated resource is composed of 509,000 ounces gold (27,020,000 tonnes grading 0.59 g/t Au), 755,800 ounces silver (27,020,000 tonnes grading at 0.87 g/t Ag) and 143,900,000 pounds of copper (27,020,000 tonnes grading 0.24% Cu). Without even considering the significant upgrade of the resource, it can be stated that the resource estimate increased 120%. The updated estimate added $39.3 million (or $0.15 per diluted share) to the NPV to our valuation model.
Also last week, Petaquilla Minerals reported fourth fiscal quarter and fiscal year results for the period ending June 30, 2013. For the fourth fiscal quarter, gold equivalent production declined 32.3% sequentially from 18,013 ounces to 12,191 ounces. Gold production declined due to the disruptions in mining operations from the reassignment of some mining and crushing equipment towards the effort to make timely deliveries of aggregate to the Cobre Panamá copper project. Additional equipment has been procured to alleviate the situation. With the company drawing upon inventoried bullion and selling a total of 14,196 gold equivalent ounces, along with $4.366 million in incremental revenues from aggregate sales, sequentially revenues increased 1.0%. The revenue from the aggregate business, along with silver sales, helped in the recovery of mining costs at the Molejón mine since the sales of silver and aggregates are considered to be by-products from the extraction of gold.
For the full fiscal year, gold equivalent production declined 0.5% from 69,503 ounces to 69,181 ounces while gross operating profit increased 3.0% to $35,992,420. During fiscal 2013, Petaquilla Minerals benefitted substantially through Inmet's waiver of 5% royalty on Molejón mine by $13,348,341, which was partially offset by a $9,815,975 loss on the classification of forward agreements as derivatives. For the fiscal year, the company reported a loss of $2,498,090 ($0.02 per diluted share).
During fiscal 2014, management expects Molejón’s cash costs to be reduced to the $550 to $600 range since supplying aggregate to the Cobre Panamá copper project should generate approximately $40 million in revenues. Management’s focus during fiscal 2014 lies in boosting gold production at Molejón gold project to approximately 100,000 ounces, advancing the Lomero-Poyatos concessions to production, continuing exploration at Brazo and Oro del Norte, and the continued exploration of Jales-Gralheira in Portugal, along with pursuing the termination of the gold and silver contracts with Deutsche Bank.We reaffirm our Outperform rating and are raising the price target to reflect the expanded and upgraded resource estimate for Palmilla, along with the increase in gold and silver prices over the last few months. Our updated target for the stock of Petaquilla Minerals is $1.04.
A copy of the latest research report can be downloaded here >> Petaquilla Minerals Report
I am tired of constant bushing, big difference from constructive criticism. Back to Google-PTQ board.
Anyone looking at this volume can say that something is going on.. 6 times regular volume ,people will notice us today.
Most of investors will be happy, they either bought low or avaraged down, except few here.
You are not the only one who knows what is coming, so don’t sound so prophetic.
"During a Quiet Period, a publicly listed company cannot make any announcements about anything that could cause a normal investor to change their position on the company's stock. Normally, that means the company does not discuss any of the following:
New deals or wins signed in that current quarter.
Announcements about previously sold implementations going live are allowed, but must be explicitly described as such
Management changes
Progress against company goals
Major product or service announcements
Major partnership announcements