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Inmet needs cash, not an exchange of minerals.
JFF7
ORT.TO +.07 +3.18% 2.27
I was wondering why my bid at 2.08 was not getting filled. You were buying at 2.09. I had to move to 2.10 to get filled yesterday. Not sure why this is moving now but there must be some rumors somewhere. I can't find them.
Good one Bob.
JFF7
INA.V I'm in at .365 Great fundamental story. More cost surprises / delays in the North Sea than I like but just way too undervalued to ignore.
JFF7
I always go to this Traders Expo ( for the last 5 years). Part education, part vacation, and partly to meet people.
Will be attending this years Trader Expo, Nov 14th to 17th at Caesar's Palace.
JFF7
ORT.TO
Looking to roll some MMT.V divies into ORT to get me up to a full position. I like the story. I just want it to become reality over the next couple of years.
JFF7
But where is the positive news (like increased production, revenues and earnings) that will push the share price higher?
I don't mind waiting but I am obviously waiting for different things.
JFF7
Your right a reverse split would be necessary in that case to give a reasonable share price.
JFF7
Why? because people need to think for themselves about the investments they make. they can't just take the word of companies or analysts. It's good thing to openly discuss investment risks.
I believe a convertible is possible and that would make a big difference in any investment decision in this company. That's why I mentioned it.
If a convertible is totally out of the question, why didn't they just rule it out in the news release. It would have eased my mind a lot.
Hopefully we will get more details before the month is out. If they pull it off without being convertible, that's great. I would then buy more stock. Until then I am holding what i have.
JFF7
I'm not saying i expect dilution, only that it is a distinct possibility.
Nobody said that they would do the debt financing with dilution on purpose. Of course they would want to avoid that.
As for you examples, most of those companies have billion dollar market caps. Or they are not mining companies, let alone Gold mining companies. Not exactly a good comparison.
JFF7
well they managed before to avoid dilution by putting in place a a forward gold sale and then selling their silver. Now they are discarding the forward gold sale to be replaced by what?
We're at a crossroads, either the financing includes a convertible or they have pulled off a brilliant debt financing for 210 million. For a company with a 80 million market cap that would be a great thing.
As to them being clear and upfront about dilution in the past. I guess they are clear about it until they aren't.
JFF7
Well I guess it comes down to our individual opinion of PTQ 's credibility. I believe they are good at telling us the things we want to hear but their track record on delivering doesn't justify much credibility.
We see some day soon. As I said if they are able to pull off the financing without a convertible in there, it will be real accomplishment.
JJF7
Loj
in regards to the convertible clause that doesn't exist. Yes your absolutely right that it doesn't exist in the PR but there aren't really any terms disclosed are there. Why would we preclude a convertible? If they were clear before, why won't they be clear now and rule it out in the PR?
In the past their financings have been smaller (<100 million). Now they have one for 210 million. Their market cap is not really all that big (80 million according to Google finance). What is securing this 210 million dollar loan? In my investing experience with mining companies, I can't remember such a large ratio of new debt to market cap without a convertible being part of it.
I'm not saying it is a given because PTQ does seem to have a lot of connections with banks. But it also makes some sense don't you think?
The good thing for me is that even if it is a convertible, I don't see the share price dropping that much. It's already so low. For me I think a convertible would just take away a lot of the upside potential.
JFF7
Oullins (Digitech) deserves the real credit. He did a lot of the ground work that got Cormark interested in MMT. That was st the start of the recent take off (from 1 dollar). Oullins provides Chen a lot of any new information Chen gets on MMT.
They are both great people for sharing the information they obtain through hard research.
JFF7
My big question remains, what are the terms of the debt financing?
If there is a convertible clause in there, even if it is at 50 cents, that's a lot of new shares which would effectively put a lid on share price appreciation for some time. I won't add any more until I see the terms.
I can't see the current shareholders being in favor of convertible debt financing but they needed the money. They got a lot of it. Let's hope they just have banker friends with deep pockets. IF they get it without any convertible, I will be very impressed.
JFF7
Good series of posts guys!
JFF7
Let's not forget that we still don't know the terms of the new debt. If they are convertible debentures at 50 cents or something like that (no idea if they will be convertible or at what price) that could also hold back the price.
Let's face it, there are a multitude of reasons both macro and micro that could contribute to the current share price.
JFF7
Let the games begin. Good luck to all the athletes involved.
Looks like a good day for fishing.
JFF7 (gone fishin')
Arf ! Arf! This dog don't hunt.
Not reacting well to the increase in POG. 160,000 of shares on the near ASK and only weak BIDs.
JFF7
# Orders Shares Bid Ask Shares # Orders
1 1000 0.385 0.395 52500 5
4 21000 0.380 0.400 112500 8
2 4000 0.375 0.405 20000 1
4 22000 0.370 0.410 2000 1
1 4000 0.365 0.425 16500 2
MMT.TO
the company's PR is fine. Your interpretation of it is incorrect. You do not "own" a stock until your buy trade is settled which takes three days after you buy initially buy it. If you buy it today, your trade settles and you officially own it as of the 26th. That's just the way it works.
JFF7
I don't think it can be underestimated how important it is to clean things up. The market does not like sales contracts and hedging etc. This will go a long way to making things clearer to investors wondering why the valuation is so low.
Add in getting the extra ball mill going and adding some more completed leaching cycles later this year, PTQ should look pretty good. Toss in a rising POG (if it happens this year) and you had all the sails full.
JFF7
I think he might mean the conversion price. Yes we donèt know for sure there is one but the market action seemed to suggest there would be one at around 37 cents. Stay tuned for more details....eventually.
In answer to his question, I donèt think they would see it as a problem. This is a much bigger debt financing.
JFF7
Your right, we do have different perspectives on how to create wealth. You may want to bury yours in the backyard and wait a generation or two for it to grow but I would like to create mine in my lifetime while I am young enough to enjoy it. I think the majority of investors feel this way. But I could be wrong about that. I am here to make some money, not to plant some acorns.
JFF7
I don't think you would you expect an announcement from the company on that. If they are already putting out another update then they may include a line about where they are at but not a PR for that in of itself.
Martguy is just informally keeping you up to date on where they are at.
JFF7
ORT.to
to what degree do you think the HPA plant will have on pricing of the end product? I think in the beginning there may not be much impact but as they add capacity, the price will be driven down substantially. That may force some of the competition to look for ways to lower their costs and may drive them to a licensing of ORT technology?
JFF7
VB, still need to know the terms before we know how good a deal this really is. Just getting the money will make it a good deal for PTQ because with so many irons in the fire, they need capital to keep things moving. The pace of profits to date was not doing the job. When we see the terms and who is involved, we will have a better understanding. Still looks like a major move one way or another though.
It's possible that the terms (pricing of conversion) are still being worked out and that is why there is some downward pressure on the stock price. Enhance the terms for the PP holders.
JFF7
"Just a question of knowledge, understanding, and patience...but isn't that what investing is all about??? "
Nope, investing is about making money.
JFF7
"...provided the terms are decent"....ah yes. the age old question....so what's the catch?
JFF7
well they always keep us guessing. No nailing down PTQ future.
I really don't know if this is good news or not for us shareholders. There is till lots of info and details to come. The good points are:
- putting financing for the Spanish mine in place. This means the timeline can probably move up on it. Production could be as close as 18 months away (exclusive of any ore they may send to Panama for processing).
- the upside is now more leveraged to the price of gold and silver since they reworking the deals with Deutsche Banks and others
- preparing for processing other Panama ore (if MJ is right) or perhaps some of the Spanish ore (used to be a metals mine).
I wonder what the terms of the PP are? what interest rate? right to convert to shares? what fees and expenses have been occurred because of this (you can bet someone (lawyers and bankers and middlemen) will make a lot off this.
I remain hopeful that it is in the best interests of the shareholders (as in we see a rise in the share price before the year is over).
Lastly, who are these PP investors with 210 million to play with? It would seem that management and these investors (overlap?) both believe that the price of gold is going to take off soon.
JFF7
I thought we were already passed the date where you have to have already owned the shares because of settlement dates. At least that was the way I interpreted the conversations when I read them quickly.
Also that would explain the little dip inshore price from over 40 cents to 37 cents. People selling some shares that no longer have price shares attached to them or because all they wanted were the PDI shares.
JJF7
ORT.to Loneclone
thanks for the link. I have parked my ORT investment where I won't touch it. This is one I want to hold through next year and see how far it will take us. Too many ways to win and many things have already been de-risked.
JFF7
so if enjoytheride is right and insiders are now selling the PTQ shares they received on the sale of the Iberian property to PTQ, would they not have to report their shares as insider sales?
JFF7
Look at this way. If they find it so easy to hold us at 40 cents, think how easy it will be for them to take us to a dollar when they want to.
Beautiful.
JFF7
Thanks Bob for your opinion. My DD will continue.
JFF7
Bobwins - ORT.to
I watched the video. The more I look at this stock, the more I am interested in it. Only have a starter position so far.
do think this is very speculative? Have been burned before by new technology processes. I remember THAI with PBG was supposed take the industry by storm but never panned out. Seemed to have a lot of advantages but they could never scale it up.
ORT seems to feel they have already proven it on scale according to presentation.
Also, does the REEs process come with the HPA that they plan to commission in Dec 2012 or is that something that is to be added later? Dates discussed at all?
JFF7
welcome aboard Gold80302 !
JFF7
Ratio ofbids to asks is setting up nicely. Volume is nice on PTQ.
(grin) it is sure is easy to get a rise out of you lately. You seem rather tightly wound.
Why on earth would you want to discuss anything while putting constraints on time? You should never discuss profitability unless capacity and time are unconstrained. That's what the real world is like isn't it? Unfettered access to time and capacity.
JFF7
"I do not know if that will come from grades milled, heap leaching, plant expansion, or somewhere else I have not thought of today. "
How many times do we have to tell you. Grades make no difference!
LOL, JFF7
I am seeing increasing signs of POG gaining traction. Perhaps based on the fiat banking system losing their ability to keep a lid on it or maybe just the smell of more QE coming. Perhaps both.
Either way, my spidy-sense is starting to work overtime. Not sure what is happening but gold stocks are starting to appear to be the beneficiaries.
JFF7
I thought PTQ only owned 57% (or something like that) of PDI right now. Just going from memory of the company presentations.
JFF7