No point to obsess over wealth in Panama.
Petaquilla is much too small to have real wealth deeply involved in trading its shares. Putting aside the high volume of the HT that did attract some interest because of the quick easy money, caused by those who ignorantly thought the company would be sold, and provided a quick little profit, the original NCIB data showed that only about $50,000 dollars of stock is traded daily, world wide.
Four first class tickets Panama to Europe = $12,000.00
Hotels for a week with meals = $10,000.00
Four good overcoats for family (Burberry London)= $11,000.00
One new outfit for each in Paris = $16,000.00
That is more than Petaquilla's average daily trading worldwide just for Christmas shopping for wife and two kids!! When you add gifts for the extended family's children you have quickly spent another $20,000.00-$30,000.00.
The point I am making is that the wealthy class in Panama can easily spend on each family for Christmas more that Petaquilla trades world wide on a daily basis with many, many, individual trades.No one is seriously going to trade the penny stock!!
On the other hand, having one of your people slowly accumulate a large number of shares in the millions over time and hold it for the future is a reasonable goal and I know for certain that some are doing just that. Twenty families putting away two or three million shares would make a lot of sense. Particularly if they are in the loop and understand what the real future plans are for the company and believe it is a reasonable outcome.
Those who actually like to trade stock and commodities do so on the NYSE or in Chicago, London, Hong Kong, and Singapore. There also is/was trading in the Muslim markets, which are open on the western weekend, until the world there caught fire this past year. It is common for those trades to be middle six figures for some individuals on a daily basis.
So we can all look back to the steady progress of our little company that just keeps exploring, digging, processing, and selling, as it grows from a small acorn into a nice oak over a long time. In spite of criticism, we are fundamentally quite sound and have now reached another plateau in our climb to success. Will that be reflected in the share price? Probably not until the macro events in the world sort themselves out. In the meantime...life is good...beer is cold...steaks and langostas are on the "barbie" as Aussies say...and the surf is up!!!
FELIZ ANO NUEVO!!!
Salud...Amor...Pesetas...y tiempo para usarlos!!
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