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Just traded @$0.89 USD Berlin
Trading @$0.84 USD in Germany. Jal, there are no feelings only business on the program. Inmet will have only 50-55% of the Cobre Panama exploration & development. Martinelli is the man,the government owns Cobre Panama and makes the rules...Richard is a founder of the ruling party with Martinelli, and has been in government under several administrations.
PDI is on site, has its equipment and infrastructure right on the door step, a skilled workforce, aggregate, and lowest prices. The 'right' people control millions of shares. You want to go somewhere else!!??? FORGETABOUTIT!!
Remember Martinelli was educated in Arkansas, is Italian, worked for Wal-Mart, and made his fortune through his own efforts in the retail grocery business, and has zero patience for incompetence.
Dollar decline is reflected in POG. Panama uses the US dollar as its currency, as do several other Latin countries. Unfortunately all the fiat currencies are rapidly going down as seen by POG going up. Would not be surprised if Germany dumps the Euro and goes back to the Deutsche Mark.
OK wise guys...that predator is on the payroll and lives out behind the barn!!! Back on subject...we will at least get a production update for October before the AGM. That will confirm more than 12,000 oz. poured in the first two months of the quarter. The finalization of the refinance may also come out.
I think the AGM will center on the production for the whole quarter since it was reset to the end of the month, and finalization of the PDI spin-out, or at least a detailed up date. There are a couple of other reports in the pipeline that they have committed to releasing at the end of this quarter.
A couple of PRs stating that the LT is gone and that we can consistently pour 6,000 oz./mo. even in the rain will be sufficient to double the SP overnight and the train will be gone. I think that there will be a greater response than when the permit to operate was granted and then commercial production announced. If I remember the permit to operate drove the SP 250% in a couple of days.
Followed your post on Stockhouse. When I tried to explain a couple of months ago that PTQ would probably start issuing dividends, and that I expected $1.00/share in a couple of years everyone jumped on me like a was a fricking idiot. Sooo...I just quietly faded back into the jungle. That is easy to do in Panama.
There are some really juicy plums around where gold has been explored to some detail without previous governments approval and PTQ may use some cash to pick those up as approved concessions.
It is said that some have actually started infrastructure investments without proper permits. As the present government brings the sector under control PTQ will probably get those areas. Remember they and only they are allowed to mine gold in Panama as of today.
If that does not happened quickly, then I am sure the dividends will come pouring out to the movers and shakers who want a return.
By the way, Germany traded as high as $0.83 USD today!!
He did not like Fifer, management, or anyone who had faith in this project under the current team. I suggested he sell and move on for his own well being and I assume he did so. If you think he was extreme here you should have seen his comments on Stockhouse. I wish him well and hope he is in therapy. I miss him too.
I don't have a dog in this fight, but think it is not relevant to the issues. There is enough gold on the 100% owned concessions to supply the plant for many years. Cleaning up the balance sheet, expanding production to 200,000 oz., will provide plenty of cash and move the share price.
This speculation and debate is just like "dogs barking at the caravan", as Anski once said. The caravan inexorably moves on to its destination. Large stake holders control the helm and have no interest in relinquishing that control or changing direction.
Germany up 3.05% this morning on good volume.
Contrary to what some have posted, we are now moving into the heaviest rain period of the year. November is when the Inter Tropical Convergence Zone moves back south over Panama after moving north in May. For the next thirty days there will be more rain than ever until about the end of the first week of December. This time I hope PTQ is ready for it with their tailings ponds.
Time to move the cattle to high ground for a month!!
I remember this CEO also saying earlier in the year that they are in and intend to stay in the copper business and have no interest in PMs. I don't remember just when or where this occurred, but I definitely remember him saying the copper was their home and future and not gold or silver.
Page 11,page 30,and page 36, of the Corporate Presentation mention expansions through acquisitions for both PTQ and PDI in Panama and other Caribbean countries. Time will tell. I think the 482 sq. km. sand box is big enough for Richard to explore for quite a while.
Looks like we will close up nicely again today in a tough market. Banks seem to be getting on board in Canada.
Why would he sell the 'golden goose'? He doesn't need the money.
PTQ has excellent LT potential. The gold is safe in the ground.
PTQ will provide plenty of cash flow for many years. Why sell the 'field of diamonds' if you have plenty of money to explore to your heart's content going first class, and no tax complications? No death tax in Panama. I think he is in PTQ for the long haul.
Really? $7.68?? trading $0.74 USD in Germany
You are right in your reasoning. For better or worse I've been around this investment for many years from <$3.00 to >$0.30 per share. Fortunately, because I always knew the gold was there, I have dollar averaged my investment so my break even is probably close to most on this board.
In my view the LT potential is actually in the PDI spin out. There will be huge programs to develop this sector of Panama over the next twenty years. I expect that PDI will play a big part and grow to a large company.
Panama has had to go outside for the kind of expertise and ability to handle infrastructure projects. (i.e. expansion of the canal, freeways, hydrological construction) There is a desire to develop this at home and PDI will participate.
The only thing holding this stock down now is a couple of quarters of consistent production and the resulting positive EPS. Once that is stabilized I would expect a 15X earnings SP as the mine will have a long life.
I am not sure if this is the latest governing document, but note that it refers to developing gold on only 600 hectarias to begin. Pages three and eleven of the Corporate Presentation show the map of all PTQ concessions and refer to 482 square kilometers of rights. I believe this is old news.
This is a huge area and I am sure that there is a lot more gold to extend the mine life many years. I am not sure that this is a new revelation as many long time investors are well aware of the size and existing rights of PTQ. The problems had never been the lack of confidence in the resource. It was the financing and political climate.
That is the first I have heard of this. I seriously doubt that it is true, and would be very surprised. If it is so, I would love to read that agreement. It would probably take 15,000 pages to spell it out to everyone's satisfaction.
I think there is a drawing somewhere, maybe it was in a corporate presentation, that shows the PTQ concessions overlaid in a small corner of the copper property. That may be what the gentlemen is referring to with his post. Specifically, that PTQ's holdings were carved out of the large copper concession. Your guess is as good as mine.
Herrera the PRD candidate last time was a Chavez plant/clone. I would be concerned, that with the money flowing in from Venezuela/Cuban/Bolivian group, that the far left might get control of the PRD and potentially return to power. CD with their coalition has agreed to support Varela the current VP in the next election, but after that there is no certainty.
With the ex-communist activist getting elected in Brazil, who is strongly against the USA and becoming allied with Iran, we could see a well funded effort to get control of Panama for obvious reasons. I am old, so nine years is probably after my life, but I warn my children to stay alert and nimble. Things can move very fast in Latin America and very violently also. A left wing PRD victory would be followed by nationalizations. I lived in Argentina during revolution and in Chile, before Allende, during Allende, and after Allende.
Again, for nine years we are good. After that we shall see.
Saludos
This is 21 Century. The USA is a 'sound democracy' and look at the mess we have here. I know things are secure for the next nine years in Panama, but I would worry after that especially if PRD reforms and gets back into power then.
My family came to Panama in 1541 so we have seen a lot of changes.
Plant was engineered and constructed so that all future gold ore can be easily trucked to the facility. Capacity will be 5,500 T/D and even that could be easily expanded, if warranted. Statements to that affect were in some of the old press releases. Project was well planned and well engineered.
The immediate result of all the exploration is to extend mine life at a production level of about 200,000 oz./yr., when heap leaching and full operations are completed. This was all in the public venue four or five years ago. The "rumored" hold up had always been the political situation and the POG. That is all off the table now and another eighteen months will bring the project to full fruition.
Ultimately this project will have a twenty year mine life @200,000 oz./yr. as originally planned. The unknowns are the political climate nine years from now and the POG over the next few years.
You are right that they would not throw one million dollars a month into exploration if the gold was not there in large quantities. They also have a lot of other PMs that are not spot lighted now.
How do you get there? Here is my projected PR schedule:
1. October production update first week of November.
2. AGM November 29th with PDI and refi news.
3. Q2 production update by December 15th.
4. Q2 reports filing by January 15th.
5. 43-101 reserves filing by February 15th.
6. Heap leach update by March 5th.
7. Q3 production update by March 15th.
8. Q3 reports filing by April 15th.
9. Annual production update by June 15th.
PLEASE FORWARD THIS POST TO TOM BYRNE SO THEY STAY ON SCHEDULE.
Lojiko! $10.00 by end of next year!!!Did you read that post??
Please read again. Now my $7.50 LT prediction is not so far fetched.
May we hold our gains tomorrow!
Saludos
There are very strict protocols from both SEDAR and SEC that must be followed and reviewed by independent 'Qualified Persons' using approved statistical norms categorizing results recognized under measured, inferred, and implied reserves. PTQ is fortunate to have a 'Qualified Person' on staff who controls exploration efforts to facilitate approvals.
Bottom line...It will officially recognize using internationally approved methods that we probably have 3 to 4 Billion in gold reserves instead of the 1.8 Billion now on record. This of course means a 20 year mine life instead of 7-10 years.
Did you notice in the release the one line paragraph,that the company is funding solely 100% exploration costs? Usually Junior Miners cannot do this and sell off a percentage of the finds to the exploring entities. WE ARE NOT SHARING!
You are right. Very important to only talk to those who actually have a substantial stake in company and have been involved for several years. Lot of ankle bitters out there. By the way, what happened to our trolls? Sort of miss them!
Update of global resources to be issued first calendar quarter of 2011. This will be a nice boost from the uptick received from a profitable Q2 to be released January 15, 2011. Word on the street is that resources may be much larger. IMO the company would not be investing one million dollars a month into exploration unless they were sure of results.
This morning: Berlin +5.06%,Stuttgart +4.40%,Frankfurt +4.71%. Looks like this could be a good day for the USA as we are well behind both Europe and Canada. Dollar is weakening.
24hgold now rating PTQ this morning at +50 on their trend meter.
(-50Bearish to Bullish+50) It does not get any better than that.
Movement has been increasing steadily from -34 two months ago to the +50 rating today. Lots of good exposure.
$7.50 34/mo. FY posted 8/2013. Patience!
Rely on G-20 meeting in Korea now to not reach a real agreement to support the dollar. China is not on board. Thought you were sleeping until January 15, 2011! Get ready for finals, PTQ will take care of itself.
P7Z on Yahoo Finance for Munich,Dusseldorf,Frankfurt,Berlin,Stuttgart, etc.
Each city market is on Yahoo Finance for the particular
city with associated data. You enter P7Z.(city code), you can add up the numbers.
Over 500,000 shares traded in German markets before 5:00AM EDT. European trades continue to drive this stock. 39,000 shares will buy a small car in Panama and we just had the annual auto show with the lowest prices of the year. Maybe it was for a down payment on a house. In any case, with millions of shares now traded daily, I doubt the small sale by an insider is any cause for worry.
Thanks for keeping an eye on the insiders.
BINGO!!I have been preaching to the choir that long term PDI is where the future lies. Korea money+ movers/shakers with a stake+ Martinelli controls legislative, judicial, and executive branches of government. They write the laws and award the contracts. What more can you ask for in an investment???? Fifer and Martinelli were founders of the Cambio Democratico ruling party. Watson...do you see the picture!!!
Latest from Korea:
“In connection with mine development, Martinelli vowed to make an effort to facilitate the advancement of competitive foreign businesses - including Korean companies - into the mining industry in Panama through the speedy revision of relevant laws,” the press release said. The Panamanian leader also promised Korea access to the country’s raw materials, such as gold, silver and nonferrous metals, said Kim Hee-sun, the Blue House spokeswoman. “He also said shipbuilding and hydropower generation are industries in his country in which Korean companies can actively participate.”
I think that as part of the pact PDI has the inside track to use some of the Korean money that will be coming soon.
There seems to be some interest in Germany and Canada, however, I think the PR just confirmed to most serious investors what we already knew. Stuff happens when doing this kind of a project in a remote jungle area. The company is moving forward albeit a little slower than we had hoped...but it is moving.
In my mind the big game changer will be the 43-101 that hopefully shows some 'take to the bank' reserves. We already know that they are successfully refinancing the debt. The start up wrinkles are being smoothed out. Eventually we will get to maximum production.
The two big imponderables are: Will the price of gold hold up?? I have absolute confidence in the present administration to screw the dollar further!! How much gold is available nearby that can be processed with our existing expanded plant?? ORO DE NORTE 43-101 AND OTHERS ON THE TWO ADDITIONAL AREAS THEY ARE EXPLORING WILL TELL THE TALE!!
GIVE ME A TWENTY YEAR MINE LIFE AT A 450 OZ. POUR/DAY, (after expansion), AND THEN THE STOCK WILL RALLY TO REFLECT VALUE. KEEP THE FAITH A FEW MORE MONTHS!
This market is so thin for PTQ that the share price can be pushed around with a couple of thousand dollar. Just ignore it and go fishing. It will only have meaningful moves when news breaks, either good or bad. During the rest of the time some little ankle biters shove the price around and make or lose their $2000.00 stake.
No worries...look again after the next PR.
Germany, USA is a rival China attacked both campaigns networks last month. Yesterday, they raised interest rates that will hurt the USA and the dollar. Canada,(no offense to Canadians intended), is viewed in China as USA "north" because of close cultural background and history. Maybe you are on to something and the Asians are buying Petaquilla. I don't care I just want them to pay more!!!
To buy into Petaquilla you don't need deep pockets. Just a small watch pocket half full will suffice. You can still buy 100,000 shares for less than $60,000.00, about the price of a decent Beamer or a Corvette.
24hGold just moved Petaquilla on their recommendation scale.
Bearish -50 to +50 Bullish to a very high +44.
It has moved from a -37 all the way to +44 over the last four weeks.
This again is more good news. Why US investors are not interested is something I just can't explain. However, Canadians and Germans are now on board the train and US investors are waving good bye!!
Martinelli is talking up mining and investments in Panama all over the Asian continent.
Martinelli is in Asia for ten days. I have no idea where the trades originate. I do know, as confirmed by Janet, that it is impossible to know or track who is buying. Whomever it is, they obviously are looking at the investment positively and that is the most important thing of all.
With Stuttgart,Berlin,Munich,&Frankfurt you get 3,046,364 shares traded and up nearly 8%. The US market not much of a player here.
Lots of gold in them thar hills!! Company is not now for sale, maybe after PDI spin-out and full production at 175,000-200,000oz.
per year, with twenty year mine life. No point in holding on beyond that as there are other fish to fry and that will allow immediate, albeit present value discounted, maximum return. Probably FY2014 as Cobre Panama ramps up and PDI becomes big brother. PTQ is just fuel for the engine.
When production doubles to 5,500 T/D, and heap leach comes on board, poured gold will double in FY 2012 or the following year. Lots of gold available in concessions and mine life will be twenty years.
Plug in those assumptions and the result looks better. We are just seven months from FY 2012.
Have followed your analysis from time to time on Stockhouse board. Never posted there. Some of those guys just rant and scream with no real logic or thought. We have one or two here, but all in all this is a rational group trying to understand and make reasoned decisions.