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Well, don't be nervous. I firmly believe PTQ is sitting in the position of authority here. They got the gold, first and foremost. The fiat money handlers know that gold is going to be the new reserve currency. A perfect hedge for them going forward, so this deal is just as good for them as it is for us. Probably better. I like the fact we have an out clause if gold gets above $1250 because it may not be long before we get and stay above that number. What I still can't figure out is how these PTQ shares are so damn cheap!!! There is no damn excuse for the shares to be trading less than $1
When the deal goes through and the ODN drill results come out I hope to God we get blast off.
Two of my specific questions were concerning the gold for dollars deal. They were...Who the participants were (the banks and the leading player in the global commodities market.) and If the $70 million pay-out of debt refinancing would be in place by the next quarter beginning in June 2010. That would show the Company basically debt free by the end of the next fiscal qtr. if the deal was completed by June 1, 2010.
I've read the PR on the "gold for dollars" deal a couple of times now and the way I see it they are still in the process of finalizing the deal, so maybe all of this will be revealed once the deal is done and agreed to.
I'm very confident PTQ will get this deal done if that's what they want and see them in a strong bargaining position with the gold resources they have at Molejon and in the ground at ODN.
These banks and institutional investors are coming to the realization that it's a good hedge to have the "physical gold" they'll be getting from PTQ in the next five years, as opposed to the $70 million that in the same period will be decreasing in value. The dollar is up now, but that's gonna change in time. When the drop comes it will be hard and fast, kinda like the Euro recently. The mindset is changing now to have hard assets...precious metals, hard/soft commodities, etc.
The handwriting is on the wall with fiat money like the U.S.dollar and it's days are numbered as a reserve currency are numbered IMO. I'm on a rant.
I'll go back to IR on Monday if I don't get an answer. We'll see what happens.
Nothing...not even a confirmation of my e-mail from Janet. If I don't hear anything by Monday morn I go back to her.
Hey, I believe ya...only problem is the masses probably wouldn't.
Gold went up $10 right after her interview.
I was just watching CNBC and they had this lady, Louise Yamada, a VERY respected technical analyist on giving her opinion on where the gold price is headed. She said gold is in a strong bull uptrend and is headed to $1350 on it's way to $1500 then $2000.
As I post this gold is up $10, influenced from her interview IMO.
You guys will want to watch her interview, it is on CNBC Power lunch today. Check is out on their website.
That would be a good thing, but I think they already have the money for the private placement allocated for different things for the mine and ODN.
There was no significant collapse of the PTQ share price yesterday like in many other companies that would have triggered a stop loss or something of that nature IMO. What would really pick me up here is to see Management step up to the plate and buy some shares here. We were trading @.95 just a couple monthes ago, now we're @.45, they need to put a floor under the shares.
Eventhough I know you have a buy order in @.40
LOL...MJ, you're bad!
This IS just the tip of the iceberg with this shit. There is so much crap the Fed has mucked up on the books of the U.S., when all that shit hits the fan gold is going to the moon! and hopefully I'll be buying all the boys down at the mine drinks if it works out the way I hope it will.
The market dropped nearly 1000 points...unbelieveable wow.
Dow down 360, Naz down 98...free falling
The friggin market is tanking bigtime too! Gonna be a very nasty close.
Yes, it SHOULD be a non-issue, however I think it is still hanging over the Company to a degree. Even the fellow that did the review of the Company a couple of weeks ago mentioned it was still a negative for the Company and would have been better if they had Fifer gone altogether.
I would definitely want to hold all my shares at least through two events. Those being the refinancing deal and the 43-101 on ODN. I think either or both of those could and hopefully will move the shares significantly.
Then of course the more shares you're holding for the PTI spin-off the better too. Your alternative sounds like a plan to me.
Good luck in whatever you choose.
Yes, I agree JustforFun. The beauty of PTQ is they are a producing mine and they have plenty of reserves (gold in the ground) too! As the gold mania continues PTQ will eventually be seen for what it has, but as you contend it may take awhile.
That is unless a bigger fish doesn't try and gobble them up first.
Lo, mark my words. This is what will probably happen with this stock. One day, I don't know when, and probably on no big news the shares will just shoot up parabolic. Like they did when the Company annouced commercial production. Somebody is finally gonna "discover" PTQ and when that happens it will be off to the races.
I hate to hear you have sell ANY shares because you deserve to reap the profits on this one.
Gold is spiking up $20 now. I guess we should be glad PTQ is only down less than a penny. LOL
PATIENCE GRASSHOPPER...
Hi Mjkiii, I agree with you, patience is going to be needed with this one and I'm sure before it's all over we'll be kicking ourselves in the ass that we weren't sinking every penny we had in PTQ at these prices.
I currently live in Florida and know a few people that lived down in Panama when we had the Canal Zone. They really liked it and have a "Zonie reunion" every year to recall the good ole days.
Having a stable, reliable government down there now is paramount in moving the PTQ investment forward IMO. It appears Martinelli is the man for the job.
I meant to ask you. My take on some of your posts is that you have a good knowledge of the mining industry. Did you work in the industry or have you just schooled yourself well in it?
There seems to be a strong "German" connection on this board. I like that.
Hello Anski, let me say what I meant by "big boys" are the Company insiders. I know other institutional holders have bought higher and the recent private placement was made at .60 Canadian, so I'm not the only guy underwater.
I totally agree with your view that precious metals, especially gold/silver are going higher with these debt/currency issues going forward. People are now waking up to these problems now that are not going away anytime soon. I don't currently own any physical gold or silver, but that maybe changing soon.
I would think the people in Germany are not at all happy with having to bail-out the weak, insolvent, countries of the EU. This is why it is taking Merkel and others so long to agree to anything firm. As you say, the USA will be in the same boat very soon with insolvent States here. Inflation is the only way they will be able to temporarily fix the problem, so PM's head higher.
FYI, I heard nothing back from PTQ yet on my e-mail questions.
On another subject, I was born in Germany. My father was in the U.S.Air Force and stationed at Landstuhl near Frankfurt. I haven't been back over since my birth, but if I hit it big with PTQ I may be back over for Octoberfest sooner rather than later. LOL
I'm just getting tired and frustrated seeing the day after day slow-bleed of these shares, especially when gold is up near an all time high.
The way the SP is headed we may be @.40 before the end of next week. Why I don't know, because all of the news has been good.
God forbid any bad news should appear!
I would agree that the big boys are still holding, but they are in at much lower prices most likely, so they like you can add more at lower levels. I'm wondering why we haven't seen any insider buying going on? Guess they figure it's not cheap enough yet.
I'm holding long and strong, EVENTUALLY this thing should turn.
What pisses me off about this damn stock is it's a gold miner stock that doesn't follow the POG. Gold was up again today and this fucker is down another 3%.
All we have had is good news and the shares continue to dump. Something has to turn this shit around eventually. I HOPE...
Yes, that's a great list of things an investor in PTQ would want to know.
Why don't you shoot IR an e-mail with that list and tell them you are looking to invest a bundle in the Company, but need to know the details. Maybe you'll get some answers. LOL
O.K., thanks. I know very little about how these PP's work but, I saw that on them saying that someone was interested in thw whole offering. I assume that's bullish.
Yes, I agree. I want to know as much as possible about what's going on too. They're giving PR's, but not being real specific on the finer details. They may be coming out with another PR on the details of the debt payment. I pulled their chain anyway.
O.K., I just sent an e-mail to IR asking for info. on these questions.
1)When will the transaction be finalized and PTQ receive the money to pay off the debt. Is the time frame such that we would
be able to show this on the next quarter beginning in June 2010?
2)The names of the participating banks and the leading global commodity player.
Hey Hmkiii, what's the deal on the timing with the PP? Why the extension? Isn't it better the quicker the PP is over and done with?
I think there is alot of gold at ODN and the drill results are going to confirm it. JMHO
I think we can ask those questions. Let's see what is said.
If we are talking about the latest PP from the PR given by the Company on March 15th it says they are selling @.60 Canadian 19,750,000 shares for gross proceeds of $11,850,000 Canadian.
.60 Canadian is like .57/.58 US I think.
Then they came back with an updated PR saying the PP would close on May 21st.
I just went back and re-read the debt refinancing PR. The way I read it, the deal is done, so really unless they want to reveal who the bank/banks are they're dealing with or give more details on the refinancing I don't know what else they would say. Maybe I will ask them if there will be anymore info. given on the debt refinancing, but the way the PR reads, the deal is already done. Is that the way you read it? What more do we need to ask questions regarding?
I don't think there was anything offical from the Company on when the deal would be completed. I'm aware of the post you're referring to on the Yahoo board and feel it's pretty reliable. The deal should be completed fairly soon I would think. I may shoot IR at PTQ an e-mail to make an inquiry though. I'll come back to the board if they reply with something firm.
You could be right. I'm not real familiar with the way these private placements work, but until this last PP closes on May 21st we may continue to see some volitility in the shares and a floor before then may not be firm. Maybe after that we'll have a solid floor in place.
The only reason I can think of to be selling PTQ here is if gold is going to seriously tank and I don't see that happening.
Especially with all of these sovereign debt issues going on. Gold is a safe haven, when everybody's concerned about countries not being able to pay off their debts. Fiat money printing is on overtime and eventually inflation will run rampant. That's good for the price of gold.
I think the drop today is just weak hands unloading. As I post there have been 138K shares traded and we're down .05
That's not such a big surprise to me.
I added another 2500 shares @.49 this morning.
LOL, Yeah if only I was the "written" word. I say PTQ to $10 in the next year. So it is said, so let it be done!
Well, the markets are selling off bigtime, but gold is only down $3 as I post. These gold miners should trade more in line with the POG, but it doesn't look like PTQ is doing that today.
As usual the irrational market is selling off just for the sake of doing it. It may go up 200 tomorrow.
Right, but the options are compensation like you say, not stock share purchases by management, so I don't think we can read any "good news" into this news.
That brings up another thought from me. I wonder why management isn't accumulating more shares on the cheap here?
I don't think management getting options is the same as management buying shares on the open market here is it?
I think the biggest reason had to be the exploration had already been done at Molejon. How many years had they been sitting there waiting to do some serious mining? They literally had years to put their finger on where the gold was at Molejon.
That is opening the door for ODN now of course.
I agree it makes sense that they would try and "centralize" the plant so they could work both Molejon and ODN concessions from the one plant. There had been talk that ODN was so large that I was wondering if it was feasible for that to happen, but I'll
admit I don't know much about the technical workings. thanks
On this last PR it states that they plan on producing 2200 tons for the first year of production, so it's a little vague as to what happens after the first year, hopefully more/bigger production.
In the same PR they talk about having the heap leaching equipment in place by Q1 2011. That would enable them to add 50,000 oz. annually to production.
Mjkiii, I pose this question to you. When they begin mining ODN I assume they would work the ore out of the Molejon plant? I'm only assuming it would be cost effective to haul ore from ODN to Molejon or is this still way out in the future? I was wondering if at some point in time there may have to be another plant built to handle ODN production.
Speaking of production...if I'm not mistaken aren't they projecting production to go to 5500 tons per day by Jan. 2011?
I think that's the time they have kept posting on the website. I assume they would have a steady upward progression to reach that number as the year goes along. Someone correct me if I'm wrong.
Yeah, erratic price flucuations in the shares are going to be common place until the shares get over $2 or so, but I don't think that's too far away. Once the refinancing and the ODN drill results come out we should have a solid floor under the shares.
I'm buying more shares Monday morning. These prices are a gift.
I didn't see the close yesterday, but in going back and checking the daily chart the sell-off happened in the last hour of trading. It's obvious PTQ is still being heavily day traded here. I think it's going to take some institutional "buy and hold" mentality to come in and put a floor under the shares at some point. That may happen when we get the refinancing deal done, when basically that makes us debt-free. This action is frustrating, but somewhat expected with a penny stock.
A bidding war would be a beautiful thing and a good possibility IMO once the results come out on ODN. Tom @PTQ implied that there would be many interested parties waiting on the outcome of the drill results from ODN, so I think that could be the deal-maker/breaker.
Regardless of that I would think management would be interested in getting some of the ODN gold out asap. I see the POG staying high and going higher for a few more years, but at some point we'll have a blow-off top and prices will decline, so you want to get it while it's high.