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JAL, mining is a tough business, as you know. The majority of mining companies have some difficulties making plan at some time or another. I think the street rewards companies who meet their plans consistently with a premium. Consistency for me is icing on the cake.
I guess we have to wait till mid April for the next quarterly results.
VB, I would agree that production levels are moving up lately. That is a positive. Plans are in place to improve production rates. That is a positive.
JFF7
with their lack of consistency in meeting plan and the civil unrest they frequently experience, PTQ has to show an increase in production and that the civil unrest is not going to impact the delivery of that production. Demonstrating an ability to make plans and to deliver on them is icing on the cake. Only then will PTQ start getting the respect many think they deserve.
Consistency commands a high premium. Lack of consistency demands a large discount.
JFF7
Jal,
quit being so logical. Your spoiling MJ's party.
JFF7
MMT.TO Mart Resources
Weekend Edition: Me and My Money
All good things come to the surface eventually. JFF7
http://www.beatingtheindex.com/weekend-edition-me-and-my-money/?utm_source=rss&utm_medium=rss&utm_campaign=weekend-edition-me-and-my-money
"BeatingTheIndex is featured this week! I would like to give a big thank you to Larry MacDonald for featuring BeatingTheIndex in the “Me and My Money” section of the Globe & Mail. Thanks for giving me the opportunity and for doing a great job with the interview.
Welcome Globe & Mail readers!
For those of you visiting for the first time, here are a few of my favorite posts written lately:
Xtreme Coil Drilling: Undervalued Drilling Company on the Cusp of Strong Growth
Investing in Canadian Well Completion & Drilling Companies
Hyperion Exploration Carries Strong Operational Momentum into 2012
Palliser Oil & Gas: Rejuvenating Old Oil Fields Using a Game Changing Methodology
DeeThree Exploration: Are Investors Missing the Forest for a Tree?
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In other news, last week the TSX Venture Exchange released the “TSX Venture 50? for 2012 which includes the 10 top performers in each of several activity sectors. In establishing this ranking of the 2250 registered companies, the Exchange assigns equal weighting to market capitalization growth, share price appreciation, trading volume and analyst coverage. Here are the top 10 companies in the Oil & Gas sector:
Petrolia Inc. (PEA)
Azabache Energy Inc. (AZA)
WesternZagros Resources Ltd. (WZR)
Americas Petrogas Inc. (BOE)
Aroway Energy Inc. (ARW)
Petro One Energy Corp. (POP)
Compass Petroleum Ltd. (CPO)
Painted Pony Petroleum Ltd. (PPY.A)
Mart Resources Inc. (MMT)
CGX Energy Inc. (OYL)
Before rushing out to take a position in any of these companies, please remember that past performance does not guarantee future results. Case in point is Bowood Energy who was part of the list last year, just take a look at the chart…."
MMT.V Institutions finally starting to show up
still small holdings but it's a start
JFF7
http://investors.morningstar.com/ownership/shareholders-major.html?t=XTSX:MMT®ion=CAN
too bad...he seemed like a good one.
Good to hear PTQ production is now impeded. I assume they can stockpile any output while this political mess is cleaned up.
JFF7
mind you some of the Elliot wave believers think POG has no choice (if it is going to ever break current resistance) but to retest the low between Dec 2 and now which is about 1525 or so.
I don't think it will happen but these number guys are spooky some time.
JFF7
hopefully we do not take too big a haircut on PTQ today. Whatever happens, it will be short lived.
JFF7
this is part fo the risk profile of Panama.
JFF7
mjkiii,
I think you underestimate how much your passion for Panama carries into your investment in PTQ.
I have stopped accumulating PTQ shares until this civil disruptions run their course (things may get worse before they get better).
The flip on PDI roll-out did not help either. Not that I am big on PDI but I just saw it as a nice little added bonus that had some speculative potential which I am not in the position to judge accurately.
Good luck to all.
JFF7
so if I read this right Martinelli will get his hunting party approved by getting his three judges installed but that we can expect the opposition to fight this all the way. The judges need to be approved by the National Assembly which means we can expect the same b/s demonstrations the opposition arranged for preventing Bill 402 from passing.
I hope for Panama that Martinelli and his supporters are better than the corrupt ones they will be hunting for. Wouldn't want one crook to be replaced by another. As an outsider, I would be making an assumption that Martinelli and his supporters are the good guys and not just another wolf in sheep's clothing.
Sounds like Don Winner is a little worried about the tanks rolling in once the hunting party has begun. Could things get nasty on the streets of Panama ?
JFF7
214,000 lost / stolen oil represents about 6% of the approximately 3 million barrels produced from the UMU field in 2011. That's much less than the 11 % AGIP was asking for to cover this.
the momentum on the stock has been lost for the moment so the MOMo crowd sells off. It will take a little time to clear these out and any other weak hands. When the one time dividend and the pending Shell processing agreement are announced that will put some lift under the share price again.
As well, when the third party export terminal gets their capacity issues resolved, that will also provide some upward lift.
Buying opportunity if you were not already in. Close at 90 cents today, hopefully. Exactly where we started the year, even though we have confirmed a much larger oil reserve by the deep well results.
JFF7
can they drag it out a few more days...I am still accumulating but I need to free up cash.
Good to see there is a chance of minimal dilution for the Spanish mine. Market is still digesting the last round. Once the market gets that clear of its gullet, things should move nicely.
PDI in February or March? How much time do i have?
JFF7
CGA.TO
agreed...good company...steady eddy with lots of gold and always expanding. No need for dilution either. wish I had held from earlier.
JFF7
yes why would they be making changes to allow for another term if he wasn't interested. He seems pretty power hungry to me...at least from this distance. Of course he would deny until it it is possible and the timing is right.
Martinelli is a little bit scary. Consolidating absolute power. Without enough check and balances that can lead to a lot of corruption. (More?). On the other hand, he will have to power to push though a lot of changes the country probably needs and it will only take him a few years instead of decades. 2-3 years of that may be good for the country. As long as they don't feel too comfortable about their position of power. Everyone needs some boundaries.
Picked up a little more PTQ at 61 cents. Building the war chest. Decided to add on weakness but not as much as I thought I would. Want to own gold stocks which are self funding for expansion. Not clear to me how much equity would have to be issued to raise funds to develop the Spanish mine if they want to move ahead quickly.
JFF7
Valuations of Gold Juniors.
here a good link to someone following the valuations of the micro-cap gold stocks. PTQ is too big but it does give you an idea of how junior golds are being valued and how that is changing (or not as the case may be).
http://www.stockhouse.com/Columnists/2012/Jan/20/Junior-golds-valuation-table-updated-Stockhouse-TT
JFF7
well I haven't stuck around for the last three years so I probably have a little more patience. I have come back once or twice before but did not stay long when things did not move. If your money is not busy, your not making money. The only way I stick around with a company whose share price is not moving within a reasonable amount of time is if I see the fundamentals improving making the case to own even better.
I've started accumulating again, so if your selling I guess I know who I'm buying from.
JFF7
I think this is the weakness that Lojiko asked for so he could pump up his holdings. Since he is not here to pick up his shares, I'll step up and take some more.
JFF7
back in for more shares at 63 cents.
looking forward to some PDI shares and share price appreciation driven by increases in POG. Who knows what the company will do on a fundamental basis since it's the wild west in Panama.
Come Zacks, send out an update.
First we have to get those invisible sellers. Not sure their motivation. Keep the price low to accumulate? Keep the price low so they can participate in equity issue? Who knows, I certainly don't. But eventually their reason will dissolve and the share price will run.
JFF7
so what made the share price pop yesterday? General market conditions?
How much longer before AAA needs more financing?
JFF7
Good post VBgood. Valuable info.
JFF7
CIAM seems to be a non-profit organization of environmentalists. Does their opinion on the constitutionality of the investment agreement really have any direct impact on anything. How much political weight does their opinion have?
JFF7
we will have to see the majors go higher before the juniors as a whole move significantly higher. You can see from the price action that some people are anxious for the juniors to rally because of the quick gains that occur when the POG moves up but the rise in share prices are quickly given back as well for now.
Goldman just issued a commentary on what it will take for gold stocks to move higher. I usually take what they say with a good dollop of pessimism but the article seems to make some sense.
JFF7
http://www.zerohedge.com/news/gold-vs-gold-stocks-goldman-releases-2012-gold-odyssey-year-ahead
MMT.V Mention of Mart Resources as a pick
"Mo Dawoud: Yeah, definitely. I mean, rather than hard assets, I was relating to commodities such as oil. One oil company that we like is Mart Resources (Toronto: MMT), and they're a junior oil producer based in Nigeria. They produce light sweet oil, and that kind of oil is very rare nowadays. It's because it's easy to refine, so the cost is low.
It's over the counter on the US exchange. Mart Resources I recommend, because first of all, as I mentioned, they make light sweet crude oil, and they have no depletion for the next two years. They are possibly thinking about giving out a dividend payout next year, because they are sitting on so much cash from pumping all this oil from the well.
The only disadvantage on this stock is that it's in Nigeria, which is an unstable country. If you're diversified enough, you won't have too much exposure to that kind of risk."
http://www.moneyshow.com/investing/article/44/DailyGuru-26090/A-Better-ETF-for-Metals-Investors/
JFF7
Anam approval. Nice.
JFF7
many factors and a lot of volatility. I am getting a feeling that trying to call the direction is a fools game for the time being.
I want to get into gold stocks since POG started looking like a bottom was forming but it is a rough ride. Time to step away and watch the weekly charts rather than the daily charts. More stability that way. Maybe the direction will be clearer.
JFF7
would it be fair to say that some people (and therefore some investment money) believes the improvement in some economic indicators (like jobs) in the US is a reason for POG and gold stocks to move lower?
Additionally there may be a more direct connection between the improving economic indicators on the strengthening US dollar which in turn has a negative impact to the POG?
Maybe that same money is reluctant to push POG and gold stocks higher.
JFF7
There you go again. Are you bi=polar or something or is it the drink that has a hold of you? Blue sky potential one day right around the corner and next day, new 52 week lows expected.
You gotta get some balance to your postings.
JFF7
If you investing in resource stocks, BNN kicks Bloombergs', Fox Business', and CNBCs' asses, Lots of good interviews and leads come from BNN when looking for resource stocks. That should be expected since they have such a high concentration of resource stocks listed on the TSX and the Venture.
JFF7
Funny, I was referring to the man not the country. This is exactly why you are not a good source of information about the state of this company as to you it is an extension of your country and your heritage. It can do no wrong.
JFF7
Pitiful.
JFF7
MMT.to
I don't think that is what he meant but it may be true. I think what he meant is that there are now interested buyers watching and nibbling at the stock. Will they wait for a pullback or will they buy after any further news. Three trading days left in December.
JFF7
Thanks that does help put things in perspective. Good thing the development agencies are involved. That keeps the equity financing by sale of stock to an acceptable amount.
JFF7
equity capital?
how much capital is needed? or expected to be raised ?
JFF7
MMT.v Digitech
.05 cent quarterly is 20 cents a year (ha ... all those math teachers said I was hopeless). What sort of price target are you thinking of to support that size of dividend. That's a ..... ummmm....2 carry the 1 .... 10% dividend at 2.00 dollar share price.
JFF7
The fact that you are only hoping for him to speak the truth speaks volumes.
JFF7
Humour DR. Link. Humour.
Doesn't always translate well in text form.
JFF7
acanuck....."(12) Seriously"
Goood one. My first morning laugh of the day. Keep em coming.
JFF7
Fifer is not going anywhere. If you think so, you are vastly under estimating his control of this company and his influence in Panama.
JFF7
and I think that 1673 boed was on a 3 1/2 inch choke. They are going down to those levels with much bigger intentions with UMU-9 drilling.
UMU-9 is over 2.5 kilometers away and they have confirmed oil at the higher levels. UMU-9, UMU-10, and UMU-11 have all been derisked.
Hopefully they find oil at the 10-11,000 foot level as well. Huge impact to reserves.
Come on pipeline deal.
JFF7