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Well the PR from PTQ tonight certainly puts a different spin on LP. They need that drilling done before they can start talking about an open pit operation at LP.
We'll pay a price on Monday unfortunately in the share price.
JFF7
CDE / CDM.TO
I have always like Coeur on a fundamental basis since they finished their 5 mine expansion. Even better with new management.
Only drawback I have seen is that this has been a favorite of shorters. You never get the full impact in a run on silver prices.
Very safe bet for a silver stock. Lots of upside if it ever gets some luv from the market.
JFF7
Thanks Loj,
41 cents....nice !
# Orders Shares Bid Ask Shares # Orders
2 6000 0.405 0.410 24000 3
4 6000 0.400 0.415 12500 3
5 14500 0.395 0.420 49500 3
5 21000 0.390 0.450 54500 3
4 57500 0.380 0.470 2000 1
level 2
# Orders Shares Bid Ask Shares # Orders
4 12000 0.395 0.400 4000 2
5 15000 0.390 0.405 75000 4
4 14500 0.385 0.410 8500 2
3 8000 0.380 0.420 47000 2
1 30000 0.375 0.450 4500 2
If anyone has advise on formating, inbox me.
JFF7
MJ, you know for someone that was taking off for the weekend, you sure do put a lot of work in.
Thanks for sharing.
JFF7
is that a technical chart read or a calculation based on expected impact of pending news?
JFF7
Chriss M made hs comments about the target for 2012 being 100 K ounces just as PTQ was revising the target down. People have just been quoting Chris M since then instead of checking the company's revised target. That seems to be the way the media works these days. I find it deplorable myself but what can you do.
a 100,000 shares for sale at .395 that have to be burned through before we get to 40s. More of those low 30s shares for sale.
JFF7
nope. no run at 40 cents today.
big seller from CIBC put the boots to that idea. Maybe they were a big buyer at low 30s. Gonna have to burn through those.
market looked strong at the close. Better volume today in many juniors.
Bodes well for market to continue upwards tomorrow. But as always lately, we are at the mercy of Euro / Greece news.
JFF7
hitting .395 by the close?
Asks are drying up. Could hit .395 before close. 40s here we come.
JFF7
It seems like PTQ got some good recommendations at the mining show in NYC recently. Is this the follow up buying?
Maybe it is pre-news buying.
Either way, I like it. Chart is looking real good now.
JFF7
Second levels - pretty quiet in both directions.
Orders Shares Bid Ask Shares # Orders
2 2000 0.360 0.365 12000 2
2 6000 0.355 0.370 25000 1
2 4000 0.350 0.375 32000 2
3 12500 0.345 0.380 16500 3
1 2500 0.340 0.385 23500 2
JFF7
Here ya go Geico
# Orders Shares Bid Ask Shares # Orders
5 76000 0.360 0.370 4500 1
2 6000 0.355 0.375 55500 3
2 105000 0.350 0.380 90000 3
1 5000 0.345 0.385 2500 2
2 124500 0.340 0.390 34500 3
JFF7
Has PTQ got more opportunities than they can afford to develop?
Is there too much of a good thing?
Does that mean more spin outs coming?
JFF7
Great post Loj.
You make a good case for someone interested in the PTQ story who is willing to take the risks that the resources show up on future 43-101s and that the company executes it's plans. There's value there and that's why I'm here. Just need to bring it to the surface.
JFF7
MJ,
it's funny how all your little mistakes are always one sided.
I'm not interested in convincing others to sell. I want the stock price to go up so I can make a profit. That's why I own PTQ shares.
There is nothing magical about this 43-101. Companies come out with 43-101s all the time and many companies fail to meet them. PTQ would be beating the odds if they did live up to the 43-101. Especially with their recent track record.
Also, you seem to think the 43-101 implies that PTQ will increase their profits 10 fold. But PTQ needs to worry about more than just this one mine. The production from this mine falls off a cliff in 2015 (right there in the spread sheet). Who would invest in a company with only good results for the next two years. So they will need to worry about and spend money over the next two years developing the next two Panamanian concessions. How much will that take away from the supposed 10 fold increase in profits of PTQ. As well they will have to spend capital on drilling and developing the Spanish property. How much is that going to be?
I'm glad Eric Sprott is saying good things about PTQ. Maybe that will drive a few more investors this way. I think Jay Taylor / Chen Lin are also saying good things about PTQ. They are not anywhere near as big a name as Eric but the more investor interest the better.
JFF7
Its a fantasy. Still left with the same problem. PTQ has to execute and meet plan.
And I am not sure why you are comparing fiscal year 2012 figures from the corporate presentation with calendar year 2013 figures from the Behre Dolbear report.
Besides time differences you are pulling net income before taxes from calendar year 2013. You also used that income before tax figure in your prior note when calculating your forward Price / Earnings ratio.
Again, it comes down to PTQ executing the plan. That's the biggest risk of this fantasy remaining a fantasy.
JFF7
I read his profile which said he was an equity analyst and that you could probably figure out who he was. I just thought you might know ...but maybe you don't want to say. That's OK.
Still don't understand what axe he has to grind with Fifer but maybe it is just politics down there.
JFF7
Who is Otto Rocks and why does he have an axe to grind with Fifer?
I hope your fishing is going better than mine. Haven't caught anything I want to eat yet. The fish aren't where they would be normally this time of the year.
JFF7
JAL are you turning in to an optomist?
I suspect not. I think our criticism at times is more a function of a desire to see balance brought to the board in face of rose colored glasses that are usually used to read that everything is fantastic and it is clear sailing ahead with world class management and properties.
In the vacuum of that over zealous outlook, I find myself being more hopeful that things will gradually improve with the new personnel and a change in the direction of the price of gold.
JFF7
PTQ.v
thanks in advance dr_airtime
I think they had three issues that BSCS pointed out forced them to take down their presentations from their web site and revised their promotional materials. They resolved the issue with the Molejon property and may have revised another one but I suspect they will not be able to re-issue their 43-101 on the Spanish property since they just do not have the information without drilling (this is my speculation only). At this point though they do not have a 43-101 on the Spanish property.
I agree with your assessment that institutions will need 43-101 documentation to give credit for the Spanish property. But they can get the Panama mine increasing production and the market will recognize that. The stock is trading at a very low P/E just based on the Panamian mine.
Also like all gold stocks, POG moving to an uptrend will help.
JFF7
that was the bad rumor. No progress on UMU10 yet at partners request. Moving forward with divy though but it will take some more time. Some are selling and will be back when divy is announced officially.
In the meantime the cash just keeps piling up. 12-15 million a month. 4 cents a share being added each month.
JFF7
PTQ.V
If any of the attendees of the Vancouver show stop by the PTQ booth, could you ask them some questions.
They are trading at less than 1.5 P/E right now (trailing) and are planning on increasing production. But last qtr their production was down. This quarter production is supposed to be back to normal (around 18,000 ounces) and they should finish the year at 68,000 ounces.
The infrastructure company PDI is supposed to be spun out next month and they are to start work on the Spanish mine (which will need some financing later) for later this year.
Lots happening but they keep having setbacks. They have added some high level personnel lately that may help with those issues and making sure they don't happen again.
This one has been a nugget in the rough for a while and I just wonder if it can ever be polished.
Questions for them:
1. what is the status of the fourth ball mill.
2. what is the status of the heap leach expansion
3. Has title on the Spanish property passed to them yet? Is the hold up only on the government side (Spanish title transfers behind 2 years) or is there something else?
Thanks for you help.
JFF7
market seems to think it is bad news not good news.
JFF7
27% of the volume and the price still falls. Glad they are buying. I hate to think where the share price could be.
JFF7
Loj,
The point is still relevant until PTQ has the title transferred into their name. As long as the CMR head thinks they have a claim, CMR can potentially get in the way of PTQ starting work on the Spanish property.
Hopefully they can use their political connections to make the title transfer sooner than later.
JFF7
I was referring specifically to an equity financing. The lower the share price, the more shares have to be issued for the capital needed. If any warrants are thrown in, they will also be cheaper to exercise.
JFF7
Maybe Casimir wants the price as low as possible for any financing needed to bring the Spanish property on stream. That would be typical for any institution taking part in future financings.
JFF7
ACanuck, I didn't mean to waste your time. I think it is relevant that another company (CMR) thinks they still have an interest in the Spanish property as of April 26th of last month.
I'm not saying they are right but it is disturbing that they still think they have some rights to the property and PTQ has not confirmed that title has passed to them.
Maybe CMR doesn't have any rights and the title transfer is simply a backlog in government reporting. I hope that is all it is.
I like the companies whose shares I own to have things nailed down when it comes to things like property rights. Is that so wrong?
JFF7
I don't smoke. Thank you very much.
Company filings like government records can be very out of date due to various reasons.
CMR's 2010 year end report was posted to their web site on April 26th, 2012.
Come on Loj, you're smart enough to actually read the document and realize that although the annual report is for year end 2010, the filing was actually from last month. The information in the Chairman's message is not from 2010 but from last month.
JFF7
Spanish property title passed to PTQ yet?
CMR, the supposed former owner of the Spanish property, issued this update last month.
http://www.cambmin.co.uk/CMR%20Annual%20Report%202010_%2026%20April%202012.pdf
PTQ still has not confirmed that title to the Spanish properties has passed to PTQ. Is this "complication" what stopped Fifer from presenting at the last show in Europe?
Questions, questions.
JFF7
looks like PTQ is the only one buying....how much of the daily volume is that?
20s here we come. what does the market know that we don't. what do the seller know that we don't.
a company trading at a 1.5 P/E, with expanding production and an aggressive buyback program that they are executing. Yet still the price falls. This is a strange one.
JFF7
So many possible reasons why we are trading at 1.5 P/E. The market is usually right but it can be wrong sometimes. But for this long?
JFF7
Your guys are laughing at MJ's family?
Your about to be disappeared.
Congrats MJ.
JFF7
Come on MJ, give the guy a break. We're not about to call him anything when he just got in the door. We're going to judge him by his actions and results, like we do PTQ. But if we see him wearing size 16 shoes climbing out of the PTQ VW..... well I might have a hard time holding back.
Speaking of Spain, has the title to the Spanish properties transferred to PTQ yet?
JFF7
"I'm looking forward to selling my stake over a period of ten years or so and making insane profits along the way."
You've officially either become a gold bug or have fallen under the charms of the pied piper.
JFF7
"in short, European rejection of austerity is going to drive the conversion of EUR into USD, which will drive gold lower by default."
that's something that I fear will happen. It's also something I think maybe some powerful people may want. way above my pay grade though.
I waiting to see if they can extract Greece from the Euro with minimal damage. That would give us some time for a POG rebound.
IMO, the revaluation of the gold miners will be heralded by a big uptick in merger / buyouts within the sector.
JFF7
I hope he is here to make their last acquisition work, not to make another acquisition as that will only mean more dilution. They need to get their existing assets working up to plan before they take on any new ones.
They still need to raise capital to bring Spain online. Will that be with more shares? or debt? How much do they need?
JFF7
One of the things I like about the new guy.....
"He is a Qualified Person and an expert on National Instrument 43-101 "
LOL so no more oversights occur.
JFF7
MMT Pipeline map
on page 9 of the latest corporation you can see the pipelines involved.
http://www.martresources.com/wp-content/uploads/2012/04/Developing-Nigerian-Assets_240412.pdf
JFF7
where is LO? Didn't he say he was going to Canada sometime soon? Vancouver?
JFF7