Replies to post #10619 on Petaquilla Minerals Ltd. (fka PTQMF)

[Lojiko]

I dunno, Badge. It's pretty complicated.

There's four ways you can look at this.

1. PTQ is right.
2. CMR is right.
3. Neither is right.
4. Both are right(?).

If #1, then no worries. I have an unfounded hunch that CMR might just be scamming people. If they are, they have less to lose by lying (and bilking investors for whatever they can before they fly away and set up shop in Bolivia) than by being honest. I have a bigger hunch that they're not that stupid. They're putting out too many flags to be a scam. They may as well be begging to be investigated. That doesn't mean they're not a scam tho.

Do you watch many of these boards? I learned a lot of my investment lessons the hard way. Once I was invested in a mine in Guinea. Production was delayed for this or that reason, then there was a coup, then they moved operations to a new country ... eventually I called BS and left. You know what that same company is doing now? They're an internet service provider. Tell me that wasn't a scam. Personally, in a fight between a company that doesn't report and one that does, I choose the one that reports to the SEC, etc.

If #2, then PTQ had better come up with a damned good reason for blowing $41M to own a mine we can't mine. I'm sure I could get pretty creative as to why they might do that, but let's just say it would be astoundingly dumb. Worst case scenario, we still have Molejon, we're still producing gold, we're still exploring Oro del Norte, and there was some debate as to whether LomPoy was baked into the price already. I'm guessing it hasn't been, but the credibility slip could hurt PTQ, even if they are making money hand over fist.

Can #3 and #4 even be possible? I dunno ... is it possible to own a property and not own the mineral rights to it? There's a chance that things are set up in Spain such that those of us on this board will never understand the legal esoterica that defines mineral rights, property rights, etc in Spain. #3 could be an issue in which neither owns the rights and this has all been a very weird mistake. Check out this link. According to it, neither Recursos Metalicos nor Corporación Recursos Iberia controls the title to the crown jewel of LomPoy, the El Lomero concession.
http://www.juntadeandalucia.es/innovacioncienciayempresa/sigma/imprimirDerechoCatas?ctl=plK0456ijldf8utijdkdjchchfjd&nreg=3730&codpr=21&fr=0

All of this seems to be going through third parties anyway (Recursos Metalicos and Corporación Recursos Iberia) so how do we know there aren't fourth and fifth parties involved?

The bottom line is, if this deal doesn't go through, PTQ will suffer and recover, imo. We might never reach the heights we dream of tho, if everyone thinks our management is a bunch of idiots who buy a mine they can't mine. We're the pawns in a marvelous game of international corporate chicken. No one said it would be boring.