Badge, I think we all can agree that culprit is a gold price.
When Zacks was giving his first recommendation ($ 1.40-sh if I remember correctly) gold price was in the neighborhood of $1600. Zacks second evaluation came in below $1 (.98?) while our production (slowly but) was increasing.
With gold price below $1300 – it would not surprise me to see it in the low $.80
But worse then that, we all know that rotation into commodities, particularly into gold mines have not happen yet. Soo if gold mine sector was popular again and money were coming in – we would not have a problem to see SP going up and every one singing kumbaya, unfortunately situation is different.
We all know how hard it is for miners to get a loan these days. We are bombarded by analysts that price of gold is going to $1200, some other industry analyst are raising the issue with true cost of production which sometimes two or three hundred dollars higher then companies like to report.
All fundamentals of Petaquilla look good and MJK correct in that, but it is price of gold which makes situation sour.
We are fortunate to have PDI which as much as some posters do not like to give credit to, but Fifer deserves a big one in that area, this is our trump card.
