microcrapper, thanks for a well considered post.
It was refreshing to see someone actually put some thought and analysis into their post, and express thoughts without obvious vitriol and envy. Here is how I view things at this moment in response to you enumerations:
1. Exactly on point. I have directly participated in several such scenarios. One can even be in a Chapter 11 and often work out an agreement with lenders that allows a successful outcome for all parties.
2.Can't say it any better.
4.(first one) True statement. Actually though LP is not lost and can move forward if funds to develop it are available, and BOD so chooses. Drilling results are excellent, but at least $150M is needed to bring into production. Portugal can produce with $7M.
3. Pretty much agree, although I do not see gold really falling from these levels. Too much uncertainty in markets and world.
4. (second one) I think you are pretty close. Panama definitely owns all of the land and mineral rights. About 100 million shares of the company are directly or indirectly owned/controlled in Panama. Richard Fifer is in position because of expertise. He is independently wealthy, and has many other interests.
5. Amen!!
6. Pretty much right although they would love to have absolute control of the whole enchilada. Government owns all of the land/minerals to which both companies have concessions and can call all of the shots. Either could be gone with a stoke of Martinelli's pen and a vote in NA. Can be and has been done at other times in 24 hrs. Just the nature of the beast.
7. You are wrong here 100%
8. Agreed it is taking a very long time. No one is declaring any inside information. However, some are more informed and discuss matters that are not privileged with BOD members, have known upper management members for years and generally understand what is going on at the moment. Others visit the offices and Molejon regularly and know a lot from witnessing operations first hand.
9. Agreed boards do not influence SP at all IMO. Purely entertainment and a place to meet like minded people. Overall discounting the idiocy it has been worthwhile. Don't know about 'dumpers', but "pumpers" are by definition criminals and the use of the word has specific legal meaning in legalize in most jurisdictions. Slander is a criminal an not just civil offense in
Panama. Several who post here are well known to authorities would be arrested at the border if they ever try to enter Panama IMO. (Not relevant to PTQ, but a fact no less.)
10. Your characterization is not true for all. Our group has never flipped anything and have been invested steadily for over ten years in the company. Except where there was opportunity to capture tax losses because we had purchased some stock at inflated prices, (DCA), we have never flipped anything. On the contrary we now hold a much, much bigger piece of the company than we did when we thought it might be sold several years ago and wanted $7.50 for our shares. We are happy with our investment and trust management.
On the other hand your statement about this company being excellent for traders is absolutely correct. My good friend Don Winner of Panama-Guide wrote and article about that around five years ago. It is in his archive. Additional points can be made to support your view. Stability of government and stock held by elite families and leaders of all three main political parties. Major stockholders having less than .1% of their wealth invested and able to provide capital easily if needed. The support level may be more sound than that of the USD! LOL!
So again I thank you for taking the time to share your perspective and thoughts. I think you will be surprised by news coming soon...although it surely seems to take forever. Too many players and too many lawyers...(tongue in check, as three of my children are international attorneys and one an alumnus with Richard at Tulane.) But then everyone hates lawyers until they desperately need one. LOL!!
Keep watching SEDAR!!
AI
