Hello Badge, here is my analysis forward.
The Red Kite money is gone and placed elsewhere. They have also been hurt with the GDXJ general decline of 65.44% as of today. Those Juniors that must rely on outside money to advance will probably fail and that is 50% of the ones that are left. Thanks to government policies and manipulation of gold prices the macro events have not been good. That will change in the coming years. Gold is stronger than fiat money and always wins that battle.
Petaquilla is extremely fortunate in that it now has the cash forthcoming to pull itself up by the boot straps and move forward.
Actions I see in chronological order:
1. Restructuring of management and BOD strengthening marketing and communications skills particularly with regard to communication to shareholders. New BOD will strengthen support for Richard Fifer.
2. Restart of production in Panama through heap leaching and some production at the mill. This should reach 4,000 oz. per month by August or September.
3. Once there are positive earnings completion of the two NI 43-101's in Portugal. Portuguese mines are then funded based on the bankable instruments. Portugal is an easy start with probably less than $6M since no mill is required and the deposits are "free" gold only needing shakers. 22,000 meters of drilling is already done so there is no big cost for the reports.
4. Once Portugal is producing more attention will be turned to LP, although some work to insure protection of the resource may begin in six months too.
5. Shipment of ore from LP to Panama with a g/t rate of nearly twice that which SRK reported will mean a overall cost of about $750-$800/oz.
Right or wrong that is how I see things developing. I continue to buy at least once a month and will continue to do so. Looking forward to the next announcement to see how close I am to the actual plan.
As you hear a lot of uniformed opinions suggesting all sorts of absurd things, most of which are not even possible or legal, just consider the background and source of such ideas. Whether it be the drunken phantasm that appears on Friday nights at SH, or the think tank in the CR souvenir shop in BC, they all have their story.
Good Luck with whatever you chose to do.
I leave you with these thoughts:
Go placidly amid the noise and haste, and remember what peace there may be in silence.
As far as possible without surrender be on good terms with all persons.
Speak your truth quietly and clearly; and listen to others, even the dull and ignorant; they too have their story.
Avoid loud and aggressive persons, they are vexations to the spirit.
If you compare yourself with others, you may become vain and bitter;
for always there will be greater and lesser persons than yourself.
Enjoy your achievements as well as your plans.
Keep interested in your career, however humble; it is a real possession in the changing fortunes of time.
Exercise caution in your business affairs; for the world is full of trickery.
But let this not blind you to what virtue there is; many persons strive for high ideals;
and everywhere life is full of heroism.
