Did you notice?
Both of these companies have ties to and with Panama and Cobre Panama going back some time. It would be my guess that the 'powers-that-be' have grown tired of Inmet's BOD and Tilk's attitude, that has actually made it more difficult to move things along. Two and three year lawsuits that were ultimately lost in Panamanian Courts, internal disruptions, credibility of Press Releases, etc., etc..
Most of their problems in Panama could have been avoided by a more experienced company. Then of course the shoe fell on them in Spain, where their environmental ex-VP and CEO are convicted and now fugitives over a major environmental problem. Maybe it got to be just to much BS and baggage. Inmet rushed all these big contracts recently to try to shove the project further and are suffering from cash flow problems and project cost inflation. FQM is in much better position to carry things forward for all concerned. Time for a new GM and coach to move the team forward. IMO FQM has made the deal and must now just go through the protocols. No question that FQM will be better for Panama.
The question is whether Petaquilla will be absorbed or become a junior partner of some sort. Either way it will be very profitable for stockholders. My guess is that Pascall is smart enough to see there is no point in throwing away the brand "Petaquilla", since it is a very big deal both in Panama and Andalucia. Once things move...they will move very fast, and so will our share price. The actual float is much smaller than most believe. Absorption would not be a bad deal either since there might be some tax advantages to just trading stock. It would be nice to see a seat on FQM board with Richard Fifer's name on it.
As long as we received an adequate number of shares, most would be happy, and that would make things much simpler for all concerned.
