Lessons for the year;
1. If you share information about PTQ that is logical and factual you will be criticized, ridiculed, and your words will be twisted out of context by those who know, at best, very little about the company, and nothing about current events or future plans.
2. Everyone knows that the decision by the BOD and large stockholders to hold on to PDI instead of spinning it out was probably the best decision for the company and stockholders in the last two years. It has allowed us to maintain a Gross Operating Profit even through the last difficult quarter.
3. PTQ is stronger and more resilient than most have given them credit for over the year. Next week most of the outstanding warrants expire.
4. FQM is learning that they must keep all their commitments to Panama if they are to keep their concession. Judging from their past history and general method of operation, they will do exactly that. PTQ of course, is in that equation.
5. The recent election expanding the BOD and making Don Christopher Colon de Carvajal the permanent new member reaffirmed the judgement of the BOD in the eyes of shareholders the decision to bring him on board and move forward with Spain.
6. PTQ and FQM have been talking constantly for nearly five months concerning the development of Cobre-Panama. This is not done in a vacuum. Each time the teams have come up with a possible solution one or more of the four parties involved have not approved. Several times things were very close, even to the point of finalizing documentation, but then some unforeseen circumstance prevented conclusion.
7. The BOD is well aware of the value of Petaquilla and has no intention of selling the company outright. There are several schools of thought about the best way forward and all are considered. As a group the large shareholders definitely support the BOD and Chairman.
8. The share price fluctuation are predicated and produced on a churning of a very small percentage of the OS. They certainly bear no relationship to the actual value of the company and this is definitely not predicated on the 'value the market places' on the daily share price. Only about 1.5% of the stock is traded on a daily basis.
9. The large shareholders have lost nothing with all these fluctuations since they do not sell or trade their holdings.
Many large shareholders simply accumulate more shares when it seems prudent to do so.
10. For those who trade a few shares and wish to pick up some smaller amounts through their efforts, it has been very profitable to buy around $0.30 and sell around $0.50 for many months. Dollar values are tiny because of the volume but some spending money can be had by those who like that sort of thing.
So...just relax and enjoy the holidays and the bowl season.
Saludos,
