Much as I am generally against PRs....
I have to admit that I believe the last three were all significant and needed to be released.
1. The political implications of the visit to PTQ and Minera Panama by the President and Vice-President of Panama, along with the Presidents of Minera Panama, Petaquilla, and Inmet combined with other interested parties was a really big deal, and reinforces the commitment made by MICI in writing the week before. These guys do not travel alone and there was a big entourage and a lot of information leaked out, that was all positive. (I'm sure you noted the reaction at Credit Suisse.)
2. The acquisition binding LOI speaks for itself and had to be disclosed as soon as possible, since the news was leaking out all over Spain. As VB noted, he who hesitates is lost.
3. Last, but not least, the recognition of Petaquilla shown by the invitation to APEX gives major publicity and positive credibility throughout the Panamanian country. This makes Petaquilla the Big Dog in the export world and will bring a huge amount of local support and credibility. It is hard to explain, but "Petaquilla es Panama!", and now nationalism and pride will kick into the equation. There is zero risk of further problems in the operation from the government or anyone else.
Whether this bolsters the share price in the retail market or not, I have no idea. I think Q3 numbers, particularly the Balance Sheet, will take care to that by itself. So, in this case, I vote that the three PRs were a necessary evil. I think we will be processing ore from Spain much quicker than most realize.
Good Luck to all.
AI
