I have a feeling the hurt is coming on Monday. I don't think there's a single person on this board who is even remotely happy with the Q2 numbers. I can think of a half dozen different ways to spin the results, but when it comes down to it, PTQ fell short and issued PRs/guidance that in hindsight can be described as inaccurate at best, but misleading by most.
All this means to me, tho, is that this is a longer term play than I expected. The debt's about to get retired, production is going up (even if it's not where we want or expect it), and improvements are being made. Everything's lining up nicely. The one factor unlikely to change, that has been the subject of much debate, is management. I'm actually neutral on that subject. On one hand it's impressive that they've got this mine running debt-free on less than 250M shares fully diluted (I actually have no idea what our fully diluted OS is any more), but there have been enough glitches and shady guidance to make people think twice. They're doing OK in some domains, but I think there's plenty of room for improvement.
As such, I wouldn't be surprised to see us take some heavy losses in the weeks ahead. I wouldn't be surprised if we see $0.50 again. If we do, I'm adding more. It's just a longer play now and with the debt out of the way, I still expect good things from PTQ by this autumn.
I don't think this is the time to sell, tho. I think Ricnat played it correctly, liquidating half his shares while we were still $1.15+. No point in selling when the SP falls, unless you can get a better return on what's left of your investment somewhere else.
"I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it." -- Thomas Jefferson
AI
