No question management team is first class.
One need only to review their backgrounds, summarized in the Corporate Presentation, to be impressed with their qualifications.
At the same time that Barrick Gold Corporation - The world's largest gold producer - is shutting down 35% of their operations, selling assets to raise money, while laying off employees to save money they cannot borrow, Petaquilla is growing, staying profitable, and is uniquely positioned to ride out the difficult times while a large percentage of the industry, both big and small, struggle.
The A/P is a little larger than most would like, but it is not aging and accounts are either in friendly hands, or under control. There are no issues of record with any vendor where there is a recognized debt. On the contrary, the pull back of FQM after the takeover of Inmet put great pressure on suppliers of all types in Cocle, and has been commented several times in the press. People are more than pleased that Petaquilla is spending money, providing more jobs, and continuing to expand. With the establishment of the Labor Office by Petaquilla with the government, there was a statement at the press conference, wherein the government informed that there never were before, nor existing now, any labor related payment demands of record.
Participation, engagement, pro-active respectful involvement, are keys to keeping informed. The many conferences allow one on one interaction with experts in the field who control huge capital structures. If one's investment is small and does not merit the investment necessary for personal on site DD and attendance at industry meetings, then one can use the actions of management, large stockholders, and research entities to take the pulse. Petaquilla is frequently commented on positively by these knowledgeable people in the press; they have invested their own, and managed money, in the company.
Sustained growth in equity and profitability is all you can really ask of management. To continue to deliver both in the current climate is something to recognize and celebrate. It is unfortunate that our moderator has to constantly challenge misrepresentation of the facts, but the alternative would be worse.
The facts speak for themselves when posted. Furthermore, at the end of the month, another year of audited books will be on file for all to peruse, if there is any real doubt about our success, and an informative MD&A also under audit opinion is included. There is no point in further discussion.
