Petaquilla Minerals Ltd PTQMF

Christmas Present - Gold or Coal

[wwadehammer]

Don't know how to take this.  On the one hand, the projections for 2nd quarter were way off in a negative sense but at least there will be a conference call soon.  If the upcoming CC is like the last one, the SP will drop like a rocket.  Fifer needs to explain why heap leach number was so low and why production forecast wasn't met.  Share buy back stopped when SP was at 90 cents.  Could be PTQ looked at the production numbers and realized that they could buy back at lot cheaper when 2nd quarter results were released or realized that they weren't going to have the cash to make any meaningful purchases.  It's obvious now that PTQ has not increased its production capacity. With the price of gold so high, PTQ should have done everything in its power to increase production but for some unknown reason hasn't.  There is no way PTQ can finance the CAPEX costs of LP with these numbers.  MY prelim estimate of profit is $3 million or 1 cents a share.  That's 4 cents a share annualized which puts the SP at around 40 cents at ten to one P/E. Lets hope the CC takes away some of our gloom and doom.