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.
Sorry guys...I am trying to understand what is going on here. Was there a rumor of a takeout posted somewhere? What I am missing here?
if anyone can help point me out to where this rumor is coming from it would be much appreciated.
thank you
holy molly this board has gone to hell. All the stockhouse geniuses have poured here. Well not much point coming here anymore. Anyways I will keep my investment dormant until the junior resource stocks come back in favor....because like it or not PMC and friends that is the ONLY reason we are at that price....the ONLY reason...get it ?? no???? oh well I tried.
The feds....do anyone still put stock into what they say? Listen to that quote. Jeeze are they retarded? I am not making this up.
"Charles Evans, president of the Chicago Federal Reserve Bank, told reporters that there is "a decent chance" that the Fed may begin to taper the program currently running at a $85 billion a month clip, at the October or December meetings, but then added "it also could be at the January meeting.""
http://www.mining.com/gold-price-spikes-after-fed-hints-taper-would-only-happen-in-2014-55382/
Anski not sure what the display looks like on smartphone but there is a "hide intro" feature you can click on the page. You will only see the message boards after that.
Well this confirms mjkiii was right all along about First Quantum not buying us out. He also was right about his call on First Quantum using a much more friendly approach then Inmet.
Good calls all around.
Now I am really curious as to what will be the details of this said joint venture.
And it seems apparent Inmet is going soon.
According to Chris Ecclestone in this interview:
http://www.gold-speculator.com/gold-report/83924-chris-ecclestone-gold-will-fall-time-switch-specialty-metals.html
here is the passage:
"TMR: You suggest that a merger of Inmet Mining Corp. (IMN:TSX) and First Quantum Minerals Ltd. (FM:TSX; FQM:LSE) could form a major Canada-based metals producer, which is currently the exclusive territory of Teck Resources Ltd. (TCK:NYSE; TCK.A:TSX). Inmet has rejected First Quantum's offer. Is that deal going to get done?
CE: It will get done. Inmet is doomed! The dividend yield it offered has been lousy. First Quantum has a much higher valuation and dividend yield, which just goes to show what gives stock a currency to do these deals. Inmet has missed a lot of opportunities in recent years. "
OMG could this be on? Glencore wanting to eat First Quantum....First Quantum wants to eat Inmet...Inmet wants to eat PTQ....
What next....if this continues Rio Tinto will be paying for the land deal lol
http://www.mining.com/glencore-could-be-looking-at-first-quantum-takeover-78439/
I don't get it. I thought you said we we're not for sale. Now we are for sale and you seem in favor of an offer that does not seem very good at first glance.
And you said a while ago that people would be idiots to sell at 3$. I don't get you sometimes...you seem to go from one extreme to the other.
I will wait until its official before making a judgement on the offer.
If I understand correctly he meant it is his fifth largest position in his portfolio.
Joverke please please put that on Stockhouse boards. PMC and his buddies (I.e. multiple personnalities) will have to shudup after that.
oh wait no they won't lol
Peta did you hear anything else recently?
thanks
I hope FQ succeeds...I don't think they will tip toe around with stupid offers like Inmet did. They will give a price that PTQ shareholders will accept so they can can the Cobre show on the road.
Peta I sure hope your source is valid. That would be a game changer. Any idea who would give that cash?
That was the first thing I thought when I UBS mentionned there we're other third parties involved. If a big fish takes out PTQ , then they got Inmet by the b*lls.
Next few months should be exciting.
People simply do not understand how market works. Not amount of good news from this company will move the share price. (except maybe some high grade drill holes OR if we get a fantastic offer from Inmet or other third party). The share price will move once the money comes back into the junior PM sector. Simple as that. 99% of juniors are in the abyss right now. There are times where you will lose money no matter what you buy in the market and there will be times where you make money no matter what you buy.
The key is to be patient and wait until gold and silver go back to their previous highs. The low share price as nothing to do with PTQ. Yeah you will hear the usual complainers blaming management for this and that blah blah blah...but look at every other message boards of depressed juniors and you will find a PMC doing the same type of complaining.
A over 100 million package is almost the worth of the whole company right now. That would push us to 1$ easy.
Anyone of the Panama crew heard anything yet about negociations? I guess we might learn more next week.
Bought more at this price. We are at the same price as the lowest offer from Inmet. I don't see much downside and they still need our lands right?
Did I miss something? I did not see any post from Peta. Mjkii...can you explain please?
thanks
Mantequilla is that a new offer?
If PTQ goes through with a land deal, how much $$ can we expect to receive in compensation? Anyone has any idea how much would that be worth? I am trying to find funds to buy more as I can't believe we will stay at 50 cents for long, specially with Inmet admiting they don't own these lands. Their attitude change indicates they will play much nicer now and should offer something that makes more sense. If third parties do get involved, then who knows what will happen.
Peta have you heard anything new?
Thanks PTI,
wow when you look at this closely things bode very well for PTQ. Is it just me or Inmet's tone has changed A LOT compared to their earlier press releases?
"'We have invested so far $ 1. 5000000000 thinking we had those rights', said Tilk. further recalled that by the end of this year the miner will invest $ 4 billion in contracts and projects in the country. "These investments will benefit the development of Panama. Inmet is a guest and in the 20 years we've been in the country, we have never disrespected. PTQ I know thinks the same ', said Tilk. "
Is that a semblance of admitting that maybe they don't have the rights or am I reading this wrong?
Just got a call from TD Waterhouse asking me if I got all the necessary info on the takeover. He said to me (in french but I will translate) "I assume you don't want to tender your shares"
he actually said I assume....so I would imagine most people if not all people have said they are not interested.
Well seems Peta's rumours are getting some solid footing now
"Petaquilla''s financial advisor, UBS Securities Canada Inc., has contacted many potential transaction partners as part of the Company''s process of evaluating its strategic alternatives. As part of this global process, Petaquilla has entered into confidentiality agreements with a number of parties who are currently engaged in due diligence and discussions with the Company. These discussions are ongoing, and may lead to a transaction that is superior to Petaquilla and its shareholders from that proposed by Inmet. "
I don't know about you guys...but for me volume today indicates a LOT of people are expecting either bidding war or much higher offer.
Love to see Inmet so desperate. If that new bidder comes with 1$ offer as Peta mentionned, who knows where this will go.
hold tight!
Great find Ptygold.
love this quote
"maximum cash consideration of $0.60 per Petaquilla common share represents a 71 percent premium to the closing price of $0.35 for the Petaquilla common shares on the Toronto Stock Exchange (the "TSX") on September 5, 2012"
Can I add my own quote. $0.60 also represents a 0% prenium to the present closing price. Seriously are they retarded or something? What kind of incentive is that. The good sign is that they see they have no choice but to raise the bet.
They tried to scare us by reminding what could happen if they remove their offer. Well seems to me they are getting desperate...just not smart enough to make a reasonable offer.
What an arrogant pr*ck! I hope they get what is coming to them. Hilarious how they still want to convince us this is a good offer.
Who would fall for this bs?
Peta Bull
is that good or bad for us?
(meaning what happens to us if ultimately Inmet gets in too much trouble)
thanks
Fmeg I wish there was a "like" function on the Ihub boards.
I was just going to post something similar to what you just said.
I hope that level of arrogance comes back and bites Inmet in the *ss
"The maximum cash consideration of $0.48 per Petaquilla common share under the Elected Cash Alternative represents a 37 percent premium to the closing price of Petaquilla Minerals common shares on the Toronto Stock Exchange (TSX) as at September 5, 2012"
Seriously, do they really think we will be seduced by that? With the price hovering around $0.60 right now? Do they think we are mentally feeble or something? who would vote yes for that?
I am kind of streched out right now with how much I can invest. Too many good deals out there. As some posters have mentionned here, the price COULD come down IF Inmet removes it's pathetic offer. IF that happens and the price goes down to "before offer levels"....I will find funds to buy all I can. No matter what happens, buyout, JV or PTQ doing it's thing, we will be very well off later on.
Sorry amigo but if they give us 3S right now I sell. And I will make much more than 500$. I got many many other undervalued juniors I want to buy and having a quick injection of cash will mean I can buy 3 or 4 more potential 10 baggers right now.
to be honest I don't have any affiliations with Panama anymore than with Mexico or South Africa. I buy stock to make money like most people. So I don't think people would be "idiots" for taking 3$ a share in quick deal instead of waiting 5 years to make 10$ buck a share.
One thing ....we would be TOTAL idiots for taking that arrogant 0.48$ offer from Inmet. I don't see that happening though.
Glad you are on this board Peta bull. The ones who called you a pumper should be eating their words now.
I don't see Inmet giving up on Panama so the next move would have to be a higher offer.
I am still a very young investor compared to many here. Any input you have from the past would be great to hear if you want to share
Bidding wars,
So what do you guys think will happen now that we will have a likely bidding war? I have never been involved in such a situation and was curious if someone on this board had a similar story happen in the past? (If the bidding war does happen)
Who cares about fair valuation? They NEED us and they might have to pay a lot more now. (specially with what Peta Bull mentionned)
I am sitting tight and waiting. I hope we make that big arrogant company pay a forture.
Thanks so much German Investor.
Lojiko....I am very happy with the fact that we have visibility too. I am happy about share price increase. I was refering to the 0.48 price he seems to somehow approve of.
I am certainely NOT happy with 0.48
So you are saying entities like Sprott are happy with 5 cents a share profit? They usually go for the 100% or more.
I got to admit I don't get you mjkii...you actually seem....happy...with this offer.