Do we know which side is delaying the closing??? When you are talking about 'big dogs' the drifting or bouncing share price where the little 'ticks' live is not relevant. You will notice that Wells Fargo, Walnut Street, and the other thirty or so 'big dogs' have not sold a share, but just continue to vacuum up the cheap residue while the same four or five million shares roll over, and over, and over, every week. Sometimes up and sometimes down.

I do not understand your logic. I would be glad to take 19,000,000 shares at $0.60 and rights to 9,500,000 more @ $0.85 anytime up to two years in future.

There is no way you could go out in the open market and pick up 19,000,000 shares at anything close to $0.60 and 9,500,000 shares at the end of fiscal 2012 for $0.85, would yield an enormous profit.

Everything that has happened since March 15, 2010 has made the deal more attractive. Surely you cannot believe that the current share price based on thin market trading somehow weakens the deal.

My guess is if the deal does not go it is because the company is so flush with cash from production that they just decide to walk away. This would not be done from a position of weakness.

Did you read the terms of the Private Placement offer????

Canada and Germany are both even or up. I am going blind watching this thing. Still no PR! If Friday is met with silence I will be very surprised.

Spoken too soon, JINXED!

Tom Byrne said that he was working on one ; the extension deadline for the Private Placement filing with Canada is Friday
May 21, 2010, so I assumed they would issue a PR before or on Friday. I think it was Thursday or Friday that I spoke to him.

Thanks, but I would worry that I could not always be on top of things. PTQ SHOULD BE ISSUING A POSITIVE PR ANYTIME THIS WEEK!
Who will see it first??

Possible, but doubtful. Plenty of reserves to cover the loan without Oro de Norte. It just takes a while to complete the DD. I am very interested in seeing the PR coming out in the next few days.

The deadline for the $12,000,000.00 private placement filing is Friday. With the current price of gold and the production that has been alluded to over the past several months, I wonder if the company might just decide to forget it with $70,000,000.00 in the pipe line.

The company must have sales of at least $18,000,000.00 this quarter and at least that much coming next quarter so on and so forth into the future. The company must be expecting at least $100,000,000.00 in revenues in the next 12 months.

I am waiting for that first $0.50/share dividend!! Maybe next May 2011.

I would be very surprised if they sold the company in spite of rumors that they might be shopping it. I think they really hired the consultants to help shop for money, either for future warrants, gold production, or very minority interest.

I have no personal knowledge, but I suspect that the powers that be have a large interest in the company and will use it as a vehicle to develop the resource; help the locals as they do now; and make serious money for the stockholders over the next few years. Panama has the most secret and private system left in the western world and it is impossible to know who really owns what in many cases.

Shares traded on the open market are a very tiny percentage of the shares outstanding. I have seen reported that there are 35 to 38 large block holders. Again I have no personal knowledge, but having worked in Latin American for many years I imagine many of them are Latins and probably Panamanian.

Advantages for Petaquilla:

1. Further public record of administration's commitment to mining expressed on foreign soil. (A cultural but important thing.)

2. Petaquilla is a Canadian company and this tightens ties between company and administration. (Tree huggers hit the road!)

3. FTA strengthens Petaquilla's position to bid and obtain more mining concessions in Panama. (Mining companies from outside Canada can't compete.)

4. Huge advantage in bringing in assets needed on ongoing basis, such as trucks, motors, steel, parts, machinery,chemicals, etc., etc., all the things needed to run a large physical plant. (Now there is a 35-50% tariff on many things, such as ore trucks, parts.)

Plant and equipment cost are in the millions now and there will be much more spent as other existing concessions are development, now with a great discount.

5. Barrier to entry for other mining companies not from FTA states.

Bottom line...lower cost of development, expansion, operations, and leverage with the administration. THINK MORE PROFITS!!! This is a big deal.

Remember Petaquilla is the only gold mining company currently allowed to operate in Panama. It will be very difficult for another gold miner to get approved. Anyone want to speculate on who the 38 big block stockholders are???

Go to www.Panama-Guide.com and scroll down to whole article from today. It is third article.

Saturday, May 15 2010@ 01:02 PM EDT
Panama-Guide

Mining Sector Will Benefit From New Panama-Canada FTA

'The mining sector in Panama could be one of the major beneficiaries of the new bilateral Free Trade Agreement signed this week between Panama and Canada. The agreement was signed in the Canadian capital by trade ministers from Canada and Panama, Peter Van Loan and Roberto Henriquez, respectively, and once it is ratified by the parliaments of both countries tariffs of bilateral trade will be reduced by more than 90%. The Canadian Prime Minister Stephen Harper attended the signing....Henriquez said the arrival"of Canadian investment in Panama is sure to grow explosively," especially now that the Central American country "has also decided to develop a serious policy in the mining sector, because Canada is the world's miner."....

Very good news for Petaquilla Minerals!!!

Sorry, I don't believe in passing on unfounded rumors and only offered the comment to explain the rush to sell of speculators and day traders that were capitulating; thereby offering a great opportunity to buy a few extra shares.

If you did real DD, went to Panama, actually looked at the site, and talked to some engineers and those who did the exploration then you probably would not be upset by volatile fluctuations on very low volumes compared to the number of outstanding shares.

Without any real knowledge or education behind a lot of traders it would not be unreasonable for stock to drift down the $0.30 where I have read commented on this board as a solid floor. It is also possible to see a jump of 100% in eight hours as has happened before.

Management is busy mining, pouring, and selling gold and not really interested in volatility of day to day or month to month short term share prices. There have not been any significant sales of anyone holding 500,000 to 1,000,000 shares, as these people are well aware of future returns.

As Warren Buffet has said from his old pick-up,"Don't hold a stock for ten minutes if you are not willing to hold it for ten years."

In a year or so, this company will probably be paying an annual dividend higher than today's share price. As an investment it is probably the best junior minor out there although soon it will be mid-tier.

It has been fun sharing comments and participating on this board; I wish all of you good luck...except those who are short. In a week or so I am going back and will think of you all as I tip back another Balboa!!

Hasta luego...Nos vemos.

Unfounded I suspect and I will not pass on. Martinelli pretty much gave the cold shoulder to all the tree huggers yesterday at a big meeting and they are not happy.

Just spoke to Petaquilla management a few minutes ago and all is normal and well. Did not ask specifics obviously, but was told a PR would be coming out in a few days with updates.

If I had any more disposable I would be buying at every dip. God if it would only go to $0.25 I would even sell the dog.

Finally capitulation of the day traders. Now we will have only investors left in this stock.

Heard some rumors but do not want to pass on with no reliable source. Lot's of manipulation with little volume. Long term if they get the debt money to continue operations the gold is definitely there. Would not surprise me to see $0.30 before any news is out. I believe management really doesn't care about interim share price.

Rebut not worth the effort. Family has been in Panama since 1541, have a ranch twenty miles from Petaquilla. Long on PTQ.

The price of gold fluctuated on the open market for everyone except US citizens who were forbidden by the government from purchasing gold under severe penalty. When I ran a company in Mexico in the early 1960's we paid every two weeks either pesos, dollars, or gold. Those crazy workers always took the gold at $35.00/ oz.!

The price of a fine tailored suit cost one oz. of gold in 1900 and so it does today. The main result of returning to the gold standard is that the presses come to a screeching halt. Suddenly there has to be something real and no more fiat money. My guess is that we will see $3,000.00/oz. gold long before the USA considers abandoning the dollar. Anyone with ideas for a new currency name?
How about 'loonies'? No wait...Canada already uses that...

Five Trading Days left until the TSX extension on the PP ends. Maybe a PR this weekend or at least before Thursday. Only ten more Trading Days until the end of fiscal. TIME TO FISH OR CUT BAIT GUYS!

You are correct...think Argentina, Chile, Japan, Germany, Mexico, Greece, Portugal, Spain, Italy, UK, and pretty soon the USA. Several countries are positioning themselves to go back on the gold standard.

Manager of Corporate Relations...Manager of Investor Relations...depends on who you talk to on a given day.

He has been there since way back in 2006, so he has watched it drop from $3.40 to $0.21 during his time in office.

That was post #1269 back on May 5,2010. To the best of my knowledge we do not have a specific definitive answer to a single one of the twelve questions. Gold is at $1245.00 and we cannot climb to $0.50!

Until someone from the company is willing to address the legitimate concerns and questions we are going nowhere. I am tired of obfuscating answers like, "I'm a shareholder too." 'We are working hard to raise the share price.' 'We are all concerned.'


HE DUDE...WE ARE DOWN 86% SINCE BEFORE WE HAD A PERMIT OR STARTED PRODUCTION!!! INVESTOR RELATIONS DEPARTMENT IS A JOKE!!!

Good article on Yahoo Finance right now about gold investing. Make the point about high leverage available from owning miners.

I'm not sure but probably between $15.00 and $21.00 depending on the expected life of the mine. I really have no confidence in the dollar and could see $3,000.00/oz. in three or four years.

Want to dream a little...200,000 oz./yr @ $3000.00/oz. gives $600,000,000.00 top line. Subtract $100,000,000.00 cost of production leaves $500,000,000.00 gross profit. That should make a dividend of about $3.00/share after setting aside a bunch more for development and exploration.

I could live on $3.00/share dividend per year without too much difficulty.

I absolutely agree to long term value of the stock. The gold is there and it is not going away. However, a letter of engagement is not a deal; it is an agreement with certain parameters wherein both parties agree that it is worth exploring with DD to see if an agreement is good for both parties.

Short term I don't see any real support until way down around the $0.30 level, God forbid! I am holding out for at least $7.50/share, but I may have to wait quite a while longer. Then again circumstance could change in 24 hours. The fear of missing an opportunity caused me to grab another 10,000 shares this morning and raised my average cost which was probably an error...but what if....it goes up 200% in the next week!!! OMG how did I miss out!!

If there is only a letter of engagement and gold jumps to +$1250.00
why would anyone enter into an agreement with the parameters outlined originally?? I do not view the increase in gold as bullish for the stock short term.

That is why no one is sucking up shares and it continues to drop. The ability to continue operations still bears a great financial risk. We could still drift for awhile until some of the financial issues are resolved.

I hope you are right...I think I sold everything but the dog to buy a really large stake. No diversification...put all of your eggs in one basket and then watch the basket. I expect to go to Panama early next month and take a look at the mine for myself.

A long time ago in another life I was the Director of Operations Planning and Control for a fortune five-hundred company in Europe and Latin America. If I remember it right we had to have three different sets of books.

Bottom line I know that they will not be able to con me and I will find out just what the facts on the ground really are, and what the real expectations are for the operations. Until then I think I might just fade out and let my blood pressure return to normal.

I agree with your reasoning. If they don't respond I will e-mail them on Wednesday with my twelve questions and allude to their obligation to keep the street informed.

I noted in the old press release that they only had a letter of engagement that was subject to DD and other regulations. Until they have a legally binding contract with someone this is not worth the paper it is printed on today. Bottom line...all the letter of engagement does is tell us that they and another company or companies,(i.e. banks),have agreed to explore the idea. This makes me nervous as a lot of time has passed with nothing said.

Have a good weekend.

If you go back on Monday you might try to tie down specifics on the PP and the gold for dollars deal. We are way past the time for those things to be closed and we don't even have the names of the participants, let alone when the cash is available.

I'm starting to get a little nervous about the financial risks. If the financial systems freeze up again with the trouble in Europe we could be left at the altar!!

If everything is as they have projected obliquely, then what is the big friggin' secret??

Heck! I said that six months ago. Why don't they interview me!!

Wells still holds a lot of shares. Could have been some sort of a reaction to collapse of market yesterday triggering some margin calls. Lots of chaos on the street yesterday afternoon. Many people were automatically cashed out of a lot of positions that they wanted to hold. Hang on for the ride....

I do not know exactly what caused the market to drop 1000 points in one/half hour. However, I do know that the USA has somewhere between $40,000,000,000,000.00 and $50,000,000,000,000.00 unfunded liabilities that make Greece look like child's play.(That is 40 to 50 Trillion.). In a few years it will take all of the money that anyone who actually works in the USA makes each year just to service the debt.

There are only two ways out of this mess. One is to default on all our obligations,(never happen), or print our way out of it. I believe the politically correct term is monetization of the debt.

The strength of the dollar is only short term. I don't know the answer or even the real scope of the problem. However, I can tell you to invest in stuff that doesn't rust, rot, or eat, and hang on for a rough ride for a number of years.

I lived in Chile in the early 1970's and I have seen inflation of 20% a day!!


$2,000.00 gold is very, very conservative.

Relax...McDonald's will be paying $50.00/hr. and you will be able to pay your student loans very quickly.

EOM7 the problem is that the last item has not been finalized and/or filed with SEDAR or the SEC. As soon as that happens I will sell the farm and jump in all the way.

THIS IS JUST THE START. YOU ALL ARE TOO YOUNG TO REMEMBER GERMANY & JAPAN AFTER THE WAR OR CHILE AND ARGENTINA IN RECENT HISTORY. GOLD UP $35.00. EURO IS TOAST. USA IS IN WORSE SHAPE THAN GREECE. QUICK LET'S NATIONALIZE SOME MORE STUFF & RAISE TAXES!!

GOLD IS OVER $1,200.00/OZ.!!!!

Lojiko...McDonald's is hiring. Remember even dollar you spend and don't invest in PTQ is $7.50 in a couple of years.

Fifer is non-executive Chairman and is not running the company. Charges such as these were common under old administration particularly if you were viewed as 'non-cooperating' for want of a better explanation. Re-organization of company was required by new administration before operating permit was issued. THIS IS A NON ISSUE.

Sorry Anski but I don't agree. The Income Statements on CNBC for the last three quarters reveal the following:

All costs related to production are 'lumped in' under Cost of Goods Sold. That means everything that is incurred as a direct cost from the mountain to the pour.

Depreciation, Depletion, and Amortization are just accounting entries to reduce taxes and the actual cash so reflected is available for all of the exploration, etc., etc. that is not related to current gold production.

Selling, G&A numbers are more or less the same over the last three quarters regardless of production and therefore may be treated as a constant for this analysis.

The only open question is the cost and actuality of debt service and financial risks which we have been trying to get a straight answer about for some time.

Soooooo.... I think you are way underestimating the 'real' profits that the company is producing and the current value that ought to be around $4.00 or $5.00 right now. Add in the Oro del Norte reserves that should be covered in a 43-101 soon and the value goes up to at least $7.50/share.

HOW DO YOU MAKE THE REST OF THE WORLD SEE THIS??? PATIENCE, PRODUCTION, AND AUDITED BOOKS.

Was ist los?? My family home is Overstolzenhaus in Koln. See you in October 2012 in Munich.