The bottom line is price of gold.
Regardless how some of us think about management, let’s face it commodity cycle is over.
We would not have this conversation if gold was above $1600.
Does that spells death to Petaquilla – absolutely not : "what goes up must go down" and vice versa. Commodities will come back and so is gold.
When it will happen? – Who knows, two or three years from now I suppose. We actually extremely lucky (a lot of juniors will go bankrupt) PTQ will survive because of PDI and its strategically geographical position you should all thanks Richard for, as much as some of you hate to admit.
If PTQ can strike some kind of deal in the beginning of 2014 – it will benefit tremendously to company future going forward with Spain/Portugal.
If not – we still do OK by concentrating on selling aggregate and paying DB , by second part of 2014 gold obligation will go down substantially helping bottom line.
I hope rest of your portfolio doing great, as mine does, (PTQ is the only my exposure to mining sector).
Merry Christmas everyone.
