I am just wondering, when that happens and the results are known, are you anticipating everyone to buy back in at that time thus boosting the levels of the SP that you have previously stated??????
YES. I believe that with the audited books, particularly if we have a really good Q4 and maybe a break even for FY 2011, the share price should move quickly upward over the following 90 days. Expansion will be completed. New mining law will be done and Minera Panama will be underway again. Heap leaching should be underway. Phases #2 and #3 of reserves expansion 43-101's will be filed. Q1 will be reported October 15th.Portugal should be producing gold. Production should be at a rate of well above 120,000z./yr in Panama. The dollar should be in hell.
I know the situation at the mine; other than normal operations type problems nothing is really hurting efficiencies and the rate of production is growing. I believe that the sell off has nothing to do with the fundamentals. If we go into the $0.30 range I expect to purchase everything I can, if I have to eat rice and beans all summer.
However, I am pretty lousy at predicting short term stuff. I really thought that we would be at $2.00 by the end of this May.
I had completely forgotten about the PP share hold expiring. Also I thought the Iberian deal would be another year away, and not a distraction that it seems to be for some. If we are not at $3.00/share by the end of the year I will be greatly surprised.
All I can say is that I know first hand everything is going according to plan at the project, and the people involved, whether internally or by contract, are first class. The government is deeply involved and committed.
Being old, and having seen many markets over the years, I would caution anyone who needs their money within twenty-four months to not get involved with any speculative equity. Also, this is Panama, and sometimes it can take a year just to get a residence visa when you have all of your information together. I believe VB is right when he says they are not interested in any big promotion until the company is much larger. They may not even do it then. That would come I believe only if they had an eye on a merger or JV. We are fundamentally extremely sound and greatly undervalued IMO. The market doesn't seem to value that?????
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