Peta will be right once again!
Some never understand that PTQ will not be sold, even though FQM would be very interested in the Spanish assets, with their huge facility right next door at Las Cruces, and the billions of tons of copper ore that is Minerva's. Most likely there will be some sort of deal worked out to process our ore there. That would extend the life of Las Cruces 20-25 years. Can't wait to see the new NI 43-101 that will show the billions of dollars in copper. We are lucky to have a capable processor next door. Check out Las Cruces on Inmet's site before it disappears. So convenient for FQM, I am sure they would rather have our Spanish assets than the ones in Panama, but neither are for sale.
Hopefully the Inmet commercial agreement will more forward with FQM. That is a lot of cash exchanging hands and paid directly to Petquilla and Oullins pointed out it would have a great impact on Q4 FCF. In addition the relief of royalties that are on the books and add another big chunk to the the bottom line as it is recognized. You can't knock direct payments and exchange of cash! It takes a little high school accounting to see the numbers, but we get a very large direct cash payment and book a large reduction in A/P, so both land right on the bottom line!!!That probably flies right over the head of some so don't expect the retail market to understand. Large stockholders, analysts, and institutions do and that is all that is important.
I saw on SH that some idiot tried to equate the value of the company to its retail market cap!!!! Now that wins the prize for stupidity when you see trading volumes of 100-300 shares moving the market cap 5%! How do these people manage to get through a day without a keeper? Loji, has explained several times that there is no fixed relationship to the value of the company and its retail market cap. How hard is that to understand?
The $400 million dollars is going to PDI from two directions, we can ascertain from the laws in Panama, and the statements from Mr. Pascalls and FQM. FQM has said over and over that they will reduce cap/ex while they develop Cobre Panama. This is what they are most known for in the industry. They say they will save 1.5 billion dollars. They will build no quarries, but rather buy aggregate from us. Secondly, the very strict law in Panama says that our companies get priority treatment the in award of contracts. We are there, we have the labor, we can compete with anyone's bid. We are substantially lower than others who must travel many Klm's to try to do the same work. Finally, we have great experience in the jungle.
So FY 2014 looks to be a good year from all directions. Don't let the clueless, confused, ankle biters, shake your judgement or confidence. When you have a little extra money buy shares as Loji and others are doing. Even if things take a little longer than we hope, 300-400% return is in the bag in a few years. Some of us believe it will be much more that that. These guys may not be smarter than a two-year old, let alone a five-year old. Plus they have zero information at their disposal...not that they can process what is there on the public record now. Just thank God they are not in position of authority as they would sell off the company at about 10% of its value!! At least their stupid reasoning lets the rest of us make money......
