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Read the details. Shareholders participate further as price of gold goes up. This is a fantastic agreement and there are Panamanian banks in the wings wanting a piece of it. I want $7.50/share nothing less!!
Fantastic hedge and funding deal! This has been in the works for a while!!! Now it's up...up...up!!!
"TOMORROW! TOMORROW! I LOVE YOU TOMORROW!"[color=red][/color]
Why? Someone is obviously dumping many shares, but someone else has faith to accumulate all of them with hardly a blip in the share price. I think the market absorbed a lot with very little effect. 36 hours to Q3!!! This is not a short term investment...by July you will be much happier.
I want $7.50/share nothing less!!
Why would someone go in after hours and buy at a 21.73% level above the close with the trading levels of the past week??
Anski100: Were you able to find it?
ON INVESTORS HUB MESSAGE BOARD RIGHT ABOVE THIS MESSAGE, AND ON www.BIGCHARTS.com FOR PTQMF. IT IS SHOWN ON BOTH SITES. Trade showing at 4:09PM on 4/09/10 and is listed as after hours. You should have no trouble finding it.
Big Charts repts aftr hrs. trade $0.61 up 21%
Could be...yet they do rate it. Their forecast numbers are just really bad and that is what makes no sense to me. After hours trade is showing at $0.61 so news is leaking out. Everyone I have talked to in Panama tells me everything is fine.
Big Charts financial analysts are projecting a loss for fiscal 2010 of $(0.25)/share. For fiscal 2011 analysts project a loss of $(0.20. CNBC's posted reports show that PTQ is behind $(0.18)/share for the first two quarters of fiscal 2010.
Now if Q3 report Wednesday shows even a slight profit this will reduce the YTD loss thus far. Then when Q4 comes in the annual loss should be much less than all the analysts are predicting, and 2011 should certainly be profitable. It is even in the realm of possibility that the company could break even in fiscal 2010.
The question is: What am I missing? I cannot believe that all of the people who make their livings studying this stuff can be so far off track. I just don't see anything but profits from here forward??!!! Where am I wrong??
Pads are large shallow basins in the ground where very low grade ore is allowed to be perculated over an extended period of time. Once the gold is 'leached' out of the pad and drained away the pad can just be covered over with top soil and reverts to jungle in a couple of years.
Come on Lojiko you have to know this already. You are just bored. Big rumors leaking out of Panama over the weekend...can't repeat them since there is no confirmation!!! But...maybe there will be some sort of official source tomorrow.
Selling over the past week makes sense if you have a loss to capture for taxes. Also there was a lot at the end of the quarter.
This is all just chatter and churning.
Sorry, but I really haven't paid much attention to the share/warrant arrangements so I cannot speak to them. Being in Panama four or five times a year and familiar with the mine and political circumstances, I really based my investment on those fundamentals that I knew were firm.
If stock is available Monday to trade then they can sell them, but it would really be a poor choice. Sort of like selling your racing tickets when your horse is 16 lengths ahead and 100 meters from the finish. If they are warrants that can be exercised the price is probably far above the current trading levels; if they wanted stock they would just buy it on the open market and forget about the warrants.
IN ANY CASE, ASSUMING THE MINE IS VIABLE, WITH THE WORLD ECONOMY IN THE SHAPE THAT IT IS, PTQ SHARES MUST BE WORTH TWICE THEIR HISTORICAL HIGH WHEN THEY WERE JUST A GLEAM IN INVESTORS EYES.
When you think it has bottomed again...buy some more and just hold it for a year or two. It is probably sounder than the Euro and Germany may even ditch that also.
Why would you want to cash out shares if the mine is truly viable and still in its start-up infancy??
My guess is that fiscal 2010 will nearly break even and fiscal 2011, that ends in May 2011, will show earnings of $0.25 to $0.35 having been profitable every quarter of fiscal 2011.
I still want $7.50 for my shares and that will be very reasonable in another 18 months.
Notice your big holders, institutions, and mutual funds are sitting tight.
Stock is now down over 85% from it's historical high. That would make it a seven bagger if it only returns to its old high. A 15 bagger would be at $7.50 and that is were it should be in a year or so.
Patience is the word of the day. You will be kicking yourself in a year or so that you did not sell the farm and buy at these levels.
Remember Lojiko your not supposed to look again until July!
Makes no sense for the few real dollars traded. Must be bad news leaking out and short term investors running for the hills. I suspect we will see $0.30 by Friday PM. Doesn't mean anything for long term investment. If it goes below $0.25 I am getting some more.
New must be out..Look at Canadian volume over one million shares moving sharply lower!!
Charts have never made a lot of sense to me as they exclude a lot of known information that will impact the future of the stock. Looks like the insider exercised options at $0.57 when a short time before he did the same at $0.87. He is just averaging down like the rest of us.
This is probably bullish since he must know that the company is worth at least his average price. Lack of candor from management has everyone running scared.
I am more puzzled about the stock not moving higher when compared to others that are not even close to commercial production. I attribute it to ignorance about Panama than to some hidden information. My concern is a really good Q3 and no movement in the stock!
I find it very strange also. Hope they do not file for a 60 day extension before reporting Q3. Shares should have started moving up already??? I hear no rumors...just silence.
Five trading days to Q3. Any leaks?
LOL...LOL...LOL...Knew you'd read further!!!!
Print is cheap,got your attention didn't it.
Note of information...the huge PQI investments scam, busted and reported in the press over the weekend in Panama and the United States, stands for PINNACLE QUEST INTERNATIONAL and has nothing to do with Petaquilla Minerals.
SEVEN TRADING DAYS LEFT UNTIL Q3. EXPECT SHORT COVERING NEXT WEEK. Q3 WILL HAVE UPDATE ON HEAP PADS, ORO DEL NORTE RESULTS, PRODUCTION RESULTS, INCOME STATEMENT, SOURCE AND USE OF FUNDS, BALANCE SHEET, PROJECTIONS FOR NEXT QUARTER AND ANNUAL REPORTS, STATUS OF PQI, AND A LOT OF REALLY GOOD STUFF. ANALYSTS ARE STILL PREDICTING A LOSS OF $(0.03) PER SHARE. HOPE THAT SOMEONE WITH SOME MONEY ACTUALLY PAYS ATTENTION FOR ONCE.
BY THE WAY...SPIRIT AIRLINES WAS SELLING TICKETS FROM FFL TO PTY FOR $9.00 THIS WEEK!!! ROUND TRIP WITH ALL THE FEES AND TAXES ETC. WAS ABOUT $114.00. THE TICKET ITSELF ONLY ACCOUNTED FOR $18.00 OF THAT TOTAL.
General Panama good news today on gold and copper. Inmet Mining announced private funding of $500,000,000.00 for Cobre Panama and tripled its measured reserves to 20 BILLION pounds of copper and 5 MILLION ounces of gold. Gold and copper stocks in Panama up reflecting,(pun intended),the shine of all the gold and copper there is in Panama. Copper development will be mine on largest reserve in the world.
Government is firmly behind all mining development,and there is lots more gold in Petaquilla's concessions! Inmet Mining now saying they have $5,000,000,000.00 in gold alone.
You were supposed to sleep until July! The stock may drift down to $0.30 before it begins to move up. What difference does it make??
Patience young man...the goose will lay a lot of golden eggs. Going to Panama at the end of the month to take care of some other things and have been invited to tour the mine and Oro del Norte concession.
All the serious institutional investors and mutual funds are very comfortable sitting tight. Don't pay attention to the day/short term trade movements and chatter. Relax...relax...you will be OK and can pay your student loans with $7.50 shares in a couple of years. Maybe even sooner if they decide to sell the mine.
Article is misleading and very old news. 1. The fine was done by previous administration back in 2008. It was covered extensively in December 1, 2008 by Panama-Guide. 2. The mine is open pit as opposed to the picture in the article showing a tunnel. 3. The previous administration was at odds with the company and there were many rumors why.
Whenever an article appears in the Panama media you need to know the agenda of the reporting entity. They will take a statement, like MICI or MEF reports "a", which is good news, and then work in some political opinion or twist the story to suit their limited readership's political agenda.
La Prensa Panama is the largest paper and the best source for accurate news. At the present time, there is nothing but blue sky ahead for the company/government relationship.
Go to Newsroom Panama another small publisher and you can see a report of the same gold production story, published at the some time,without the spin, and with the positive comment that the company will be the darling of the government.
Article was probably on calendar quarters and not fiscal quarters for mine.
Typo...I believe they meant that they processed 1.6mm tons of ore.
Petaquilla is the only authorized gold mine in Panama
7:03 PM Today- Panama City, Panama
Paraphrasing speech by President Martinelli. 'Panama will do what ever is necessary to facilitate mining investment in Panama from Canada, South Korea, and the United States, including changing mining laws where necessary to make them more investment friendly.
We have copper, gold, and silver that must be developed.'
No question...the government is pro-mining. Martinelli's approval rating is in the 70% range and he controls both the National Assembly and the Supreme Court. Tree huggers might as well pick somewhere else...they are out of business in Panama.
IMO everyone is bailing after e-mail comment attributed to Tom Byrne claiming to share goal of increasing shareholder value. This from the guy who oversaw ,in his present capacity, a 94% collapse of share value from $3.40 to $0.21. No more PR's will pump this stock, only real SEC filings or 43-101's. Could see $0.21 again. Over and out! Same comments by Byrne are posted on other sites.
IMO they will not sell it for less than its historical high of about $3.50/Share. Now the private placement makes more sense. With the immediate cash they can establish the value of the Oro del Norte reserves sooner rather than later. This will make it easier to get nearer to full value in the sale. Perhaps the new Panamanian tax laws, that will be signed into law by Martinelli next week, make a sale attractive. I think capital gains is around 10%.
E-Mail on Yahoo presented as from PTQ indicating that the company is for sale and being aggressively marketed. States that that is why Casimir Capital was hired. Under messages PTQMF.OB
No 'they' as in the TSX exchange. Sometimes when there is big news that might be traumatic to the share price, whether good or bad, the major exchanges halt trading for a time to let the dust settle and keep an orderly market. This is also done in the USA on both American and NYSE from time to time. The rumor about the private placement must have started leaking so the exchange halted trading for about an hour, and the period was before and after the official announcement. It keeps the day traders from exacerbating stock price movements. What you have to worry about is being locked in or locked out depending on circumstances.
They halted trading on TSX for nearly an hour around the announcement of the placement so the stock could not crash. We did not have that luxury here. I think the actual deal is not soooo...'earth shaking', but the big question is, "WHY WAS IT NECESSARY IF WE HAVE A GOOD REVENUE STREAM IN PLACE??" Hope they have someone competent and credible issue a PR really quick.
Since commercial production was announced the company has fallen 41% from the high of $0.94 January 11,2010 to about $0.55 today. Obviously market cap has also dropped accordingly and there appears to be little concern from management and no effort to stabilize the fall. Now I know the mine is there...I know the gold is there...I know they are in production...I don't know WTF is the point. I would love to hear that dude that is the corporate/stockholders relations specialist talk his way out of this mess. E-mail asking what is happening is probably a good idea. Certainly, if I was a regulator, I would be asking some questions.
WTF..If I read it right, that is a huge dilution for only $10,000.000.00 USD when they should be producing that much revenue every 45 days. Who put up the money??? Why did they seek it???
With a June production announcement of 40,000,000 oz. in fiscal 2010, that could be announced in the first week after May 31, 2010 year end; the price would have jumped to at least $2.00/sh and they could have sold only 5,000,000 treasury shares to get the same money.
Somebody explain this to me....
Maybe you are right, but at least we should get a PR confirming the results of the independent analysis.
Should see a new 43-101 soon. The independent lab results should be back by now. I expect a PR on this or at least the filing record prior to the Q3 report.
Complete new tax reform package was just passed by the Panama National Assembly one hour ago. Forty votes for 15 votes against. Martinelli will now sign it into law. Very good for business!!! They will raise sale tax to 7% and extend breaks for businesses.
The debate has been ongoing since November, now it is over. Details will be published soon, but I know it is really good news for business as they moved in the direction of taxing consumption and not income!