Basing decisions on information from Q3 2013?
It would seem that things have changed in both the Macro and Micro worlds since Dec. 2012 and Jan.-Feb. 2013 that would preclude making judgements based on very old outdated data. There are several mico events covered by PR's since then:
Petaquilla Minerals Ltd. and FQM (Akubra) Inc. (formerly known as Inmet Mining Corporation) Execute a First Amendment to the Commercial Arrangement Term Sheet
May 30, 2013
Petaquilla Minerals Ltd. Signs Aggregates and Screened Rock Purchase Agreement With Minera Panama, S.A. Through Petaquilla's Wholly Owned Subsidiary Panama Desarrollo de Infraestructuras, S.A.
May 28, 2013
Petaquilla Minerals Ltd. Commences Mine Access Ramp Construction at its Lomero-Poyatos Project
May 14, 2013
Petaquilla Minerals Ltd. Announces 18% Increase in Revenue, 15% Increase in Net Income and 46% Increase in EBITDA for the Third Quarter of Fiscal 2013
April 17, 2013
Why Invest
As of Jul 23, 2013
"PTQ: A Mining Pioneer
Petaquilla pioneered the Panamanian mining industry
842 square kilometres concession area in Panama 130 km. west of the Panama City
A Consistently Profitable, Low-Cost Producer
Profitable every quarter consecutively since Q3 FY2011, with compelling multiples
Established low-cost gold producer with cash cost of US$550-US$600 per gold equivalent oz. sold
Heap leach process in Panama will increase production
Strong Upside Potential
Currently annual production at 70,000 gold equivalent oz. at Molejon mine in Panama with plan to increase mine life with the Botija Abajo and Palmilla deposits
Cooperative new relationship with First Quantum Minerals, owner of the $6.2 billion Capex, Cobre Panama copper project, next to Petaquilla’s Molejon mine
Petaquilla’s wholly-owned subsidiary, Panama Development of Infrastructures (PDI), has US$75 million to US$100 million Aggregate and Screened Rock contract in place with Minera Panama S.A.
Plan to spin out PDI to shareholders. Shareholders will receive 1 share of PDI for 4 shares of PTQ they own
Geographically diverse with the Lomero-Poyatos development project in Spain and Banjas and Jales-Gralheira exploration projects in Portugal
Diverse and Friendly Mining Jurisdictions
Panama is an established and stable dh3ocracy with historic ties to the United States, has the fastest growing economy in Latin America, and uses the U.S. dollar as its currency
Both Spain and Portugal are European Union countries that are supportive of mining."
In addition, the macro world is very different and obviously would not look favorably on pursuing money to fund something that is not urgent. It would make no economic sense to payout DB with the current price of gold and incur those extra costs. I guess that is not obvious enough for some to reach that conclusion. Progress reports from the moderator and others who have visited Spain, and were kindly posted here, affirmed that great progress was underway and sufficient funds were available to complete scheduled exploration and to build the ramp necessary to ship ore. Steve Ralston also reported the same information on Zacks.
As I posted twice this day: 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. Thus in just fifteen more trading days, there will be valid information covering everything up to the middle of this month.
The moderator indicated that his information was less than twenty-four hours old. That's good enough for me. I would venture that the above referenced information all coming out after the heretofore referenced Q3 Dec.- Feb. SEDAR filing would constitute announcements and follow up on plans and projections, or at least certainly mentioning them again. FWIW, I too feel PDI should be held back until GDXJ improves.
