ptygold, what you say is true.
Most here have no grasp of what is involved in a very complicated agreement that must be vetted by five entities, represented by five different law firms. It just takes time. There are no remaining issues. You cannot expect these ignorant or agenda driven posters to be grateful for the information you provide. They resent education, experience, or a willingness to share facts on the ground. I believe there are over 52,000 documents on file in the public records. You can probably be sure they have read none!
Morgan&Morgan will go very slowly with DD and vetting. They do not want to get burned again after suffering defeat in court to Petaquilla seven times over the past years. This has to come to a conclusion soon to help justify the two billion overrun FQM will be reporting from their initial estimates for development of Cobre-Panama. Acquisitions from Petaquilla are a big part of that allowing them to expand their operation/project nearly 20%. FQM is obligated to make a statement by the end of March.
Of course none of this can be extrapolated to an increase in share price. However, it should guarantee the company will be profitable again in Q4. I believe they turned in 12 consecutive profitable quarters, before suffering the recent losses caused primarily by the decrease in gold prices, sector decline, and the British Colombia Supreme Court blocking the Red Kite loan. A cleaner balance sheet and bottom line positive earnings should be good news. Our group is still buying regularly as we have for years and will participate in the development of the Panama mining sector.
Buying FQM shares at this time might also be a good place to park extra cash, as they will also benefit from the settlement of all of the issues and the continued ramp up of Minera-Panama. There is a lot of development opportunities in the north now as one, with credentials, can drive from the Pan American Highway all the way to the Caribbean coast in the north. But that is a whole other issue and opportunity to make very large profits with the right purchases.
Thank you for making the effort to share, in spite of the fact most of us have given up on providing information to this board. Have a thick skin as they like to attack the messenger. They will ask questions and then criticize the answers you give them. Put the fools on ignore....
