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IMO all of this drifting is just the chatter of a penny stock that has not yet proven itself sufficiently to substantially move up. Every one is just too anxious to make a few cents on the short term.
In a couple of years when gold is $2,000.00/oz. and the mine is producing 200,000 oz./yr. the value will be reflected in the SP.
Remember...the mine is real...the gold is there...the government is stable and pro-mining...the country is stable and safe. Everyone's blood pressure would be better if the SP was only reviewed once a month.
I agree the Euro is on the way out and of course there will be inflation in the USA as well. The USA population is rapidly moving to the right, but inflation is unavoidable. It may get to 18% or so for a couple of years.
As for buying gold bullion...better to own the goose than buy the eggs. When you buy PTQ you are probably paying no more than $50.00/oz. and you don't even have to dig the hole in your yard to bury it!!!
You might consider moving from Germany to Panama...nice weather...low cost of living...lots of Europeans doing just that.
By the way Lok...that goes for your too. Florida State and Louisville both have campuses and total cost of education is about 1/3 of USA with same degrees!!
My we are not meek and humble today. I have a nice fat order at $0.40 and we should be there soon! Patience...we need answers to my twelve questions; probably another year before we have great production and audited books. None of the big investors has sold a single share.
Too late...bundle already invested.
Thanks...Need to know list:
1. 43-101 Oro del Norte filing.
2. PP finalization and results.
3. Quarter to date production.
4. Status of PQI as year has passed since incorporation.
5. Oil for Gold loan filing, results, and names of participants.
6. PQI backlog of work and list of assets.
7. Status of heap leach pads and test results.
8. Status of SAG mill and completion/commission date.
9. Fiscal 2010 earnings guidance.
10. Fiscal 2011 earnings guidance by quarter.
11. Status of environmental fine/suit.
12. Date for audited books.
This is all normal stuff and should have already been addressed if they are serious about attracting any real investment money.
For some reason they did not get the PP done within the time frame allowed by Canadian rules. They then asked for an extension until the 21st of May. They indicated that they had interest in someone taking the full amount they were seeking, but did not say who that was. I also would like to know what the hell is going on, before I get in any deeper.
Petaquilla did not disclose the name of the bank on the gold for cash $70,000,000.00 loan.
Petaquilla did not say they would close the $12,000,000.00 private placement on May 21, 2010, but rather they asked Canadian exchange for an extension until then.
Petaquilla has positive operating income this quarter and reports will depend on how all of the accounting stuff is reflected. They are producing and have a gross profit that more than covers their G&A expenses. When you add back the depletion/amortization they are generating plenty of cash now.
If they can get rid of the debt carrying costs it will be a very good quarter.
I keep wondering when the 43-101 for Oro del Norte will come out. That should boost the PPS more than anything else. We already know they can produce gold @$550.00/oz. We need to know how much gold is present!!
Canada is way over a million shares traded and down about 8%. I would like to get a bunch more at $0.40.
So you have said...so let it be written!!!
I wonder why someone sold 500,000 shares at a 7-10% loss just now. Check Canada & USA.
Options are generally a way to compensate management without spending any money by giving them a vested interest in doing a good job so that they can reap the reward of a higher PPS than the options grant. There are also deferred tax implications.
Date on the 400,000 options was way back on November 18, 2009. They were just filed on May 3, 2010. Most of the others were 50,000 options and at a current price of $0.52 not a very big deal. Looks more like routine end of year bonuses.
They are just cleaning up the books before year end. November 18, 2009 was part of fiscal year 2010 ending at the end of this month.
Many corporations have fiscal years different from December 31, 2001 for many different reasons. Check out the fortune 500 list.
I am sure the physical plant was located in the best area as determined by engineering requirements and cost analysis. The entire footprint of all their concessions is actually quite small and the plant appears to be near the center.
I do not believe any of this has any relationship to or impact whatsoever on the value of the company or the share price.
They should be able to work everything out of the one plant. While all of their concessions cover 850+ kilometers squared, remember it takes 2.599 to make a square mile. All of their concessions would make only a medium sized ranch in western USA.
Any decent engineer would have built the plant with the idea of processing from all of their contiguous concessions.
I do not believe that any work has been started on the additional processing equipment that would have to be constructed in order to process the extra tonnage. They have indicated that such construction had been engineered in their original plans and would be accomplished with a SAG mill, when feed was available.
My guess is that they have been concentrating on other things. 5500 tons per day and the heap leach pads would put them in the 200,000 oz./yr. production range. They may want to show ODN reserves and a life of 20+ yrs. before adding the processing capacity.
By the way..Australia is talking about a new 40% tax on mining profits effective immediately,(AP reports today). That will stop things cold there and investments will go other places...maybe some to Panama.
Well it is a week later...same post still applies; we are at $0.51. Big volumes are just day traders pushing the numbers around. Check back around the end of July. Until production gets up around 10,000 oz./mo.no one is paying attention. Patience...I still want $7.50/share...maybe in 2012?? Mean time just keep buying a little more every month...sort of like funding a 401K. The gold is there and the next 43-101 will help SP a little.
All that pumping and excitement and we are back at $0.50. This well just won't prime!!
Lojiko you forget the 50,000 oz./yr or 4000+oz./mo. that they will start producing from the leach fields in January 2011.
Fiscal 2011 will be over 100,000 oz. and if they get the engineered expansion finished so that they can process 5500 tons/day; they may well reach 200,000 oz. in calendar 2011.
If you look at operating profit we will definitely be making money this quarter. If you take Q3 numbers for gross profit, subtract out the G&A expenses, add back the depletion and depreciation, you have a quarter where the operating income was just below break even at $(54,000.00).
With the interest expense going away with the gold production deal and the mill increasing output, Q4 will be very profitable. Don't forget depletion and amortization/depreciation are just accounting entries.
PTQ will be producing at mid-tier rates by calender 2011. You can take that to the bank, but you will have to explain it to them!!
President Martinelli speech at opening of Annual Conference of Business Executives: '"mining is important and has a great future in Panama." He said his government will promote responsible mining and oil exploration, so that they "pay dividends to the State, respecting the environment, and with an orderly development."'
Source: Panama-Guide 11:20AM 4/21/10.
Same article mentions further on that: "there is at least one mine on line and producing, (Petaquilla), a huge copper deposit is about to be developled,(Inmet)..."
Every mention of Petaquilla being on line and producing is helpful.
Only you me and fifty other people in the whole world know this unfortunately well kept secret!!!
WTF www.bigcharts.com has now posted a $(0.06) loss estimate for the current quarter,(Q4). I cannot understand what that is based on! After you pull up PTQMF just click on their analysts in the center and there it is. For several weeks they were showing loss of $(0.03) estimate for Q3 and now they show $(0.06) loss for current quarter!!! This is not helpful.
PTQ Shareholders Meeting?? Doesn't the PQI spin out still have to be approved via a meeting? The first two were canceled in February and March.
Oro del Norte reserves added in,(43-101 coming soon),+ plus gold in rest of concessions they already hold.
Also PTQ is expected to get a good piece of the pie from the next government offerings now in pipeline. You may want to go to Panama and talk to the people there to appreciate the potential of this company.
The 6-k reports were filed with SEC 4/16/10 yet the date and MD&A are not yet reported on Yahoo, Big Charts, CNBC, or anywhere else accept the company web site and SEDAR. No one knows they up and running, much less any of the subsequent event information. This stock is still way, way, under the radar.
SORRY, I MISSED THE DATE.
Andrew Mickey, Q1 Publishing issued buy alert on PTQ. Says it is selling for $25/oz. in ground not counting ODN and others years from production are selling at twice PTQ.
Take out the one time sale of equity in 2008 Q2 and earning (loss)for last seven quarters are as follows: (0.15),(0.23),(0.14), (0.12),(0.07),(0.08),(0.05)!!
What's not to like about this start up trend? Q4 will be profitable with increased production and no debt costs. You will see at least $0.40/share profit for fiscal 2011 that ends in May 2011. Back we go to my $7.50/share offer!
Wait until phase #2 kicks in with 5500 tons/day and 4 times the reserves. That is what a potential buyer is looking at for the next twenty years. What would that be @gold 1600-1800/oz.? Hmmm...maybe I need the 60' boat instead of the 40' one.
Nice GoldStockMania article today. Financial reports finally posted on company web site.
Yes you should...and dig a bigger hole in your yard to bury all the gold they will be producing. I wonder if we have to take a dividend in cash??? Gold would be nice instead!
By capitalizing to the maximum they prevent a paper allocation of around $0.03/share to earnings that potentially could be part of a taxable amount. Now that money, being capitalized, is available for depreciation use before whatever taxes might be incurred. Remember your financial guy is a Wharton graduate...all of their accounting and policy adjustments are ahead of the curve and excellent.
Up 16.25% in Frankfurt this morning on decent volume. Numbers are on Sedar now.
8000/month was for 100% production. They are currently at only 70% or so with no heap pads yet. I imagine letter just misunderstood what they were looking at. I doubt if they lied. 100,000 oz/yr is just a little over 8000 oz/mo. and that is the target until they build another mill that has already been engineered and then production doubles.
I can find nothing anywhere. I have looked at five different sources. Company told me this AM that reports went out this morning and should be posted on their web site "anytime" and that they would probably "show there first.". Can't tell you anything else.
TALKED TO MAIN OFFICE, REPORTS HAVE BEEN FILED. SHOULD SHOW UP ON INTERNET ANY MOMENT. SUGGESTED THAT COMPANY WEB SITE WILL PROBABLY SHOW THEM FIRST.
No reports filed anywhere I can find. Stock dropping again on medium volume. Anyone know what the hell is going on???
EXACTLY! 35 large block holders now average more than 1,000,000 shares each; insiders, mutual funds, and institutions are only buying and holding shares. Those who understand investing are just biding their time and looking long term. I am considering raising my offer to above $7.50/share.
I believe "on or about" means "on or about". Maybe tomorrow or by end of week. This stock doesn't even stay up on good news. Maybe someday....
We have traded as high as $0.62 and are up 21.22% right now. Canada and Germany following us up. Go to www.cnbc.com
Go to www.cnbc.com we are up $18+% right now.
LOJIKO!!! YOU ARE ABOVE $0.60 RIGHT NOW!