comments on the rulling The ruling was an expected ruling for many present shareholders. However, a lot of people on the sideline could no believe that small PTQ could be right against Inmet and their army of lawyers. So it is very good news and a wake up call for some people.
IMO this puts some urgency for a deal with Inmet. The urgency is not on the PTQ side but on the Inmet side. PTQ can just wait and see, Inmet has to act if they want to bring in a new partner in the Cobre Panama mine.
Inmet has a bit more time since the tender deadline extension to the end of February by First Qantum. So as much Ias I was expecting news this week we may have to wait longer.
PTQ goal is clear, they want to develop their own company and become a player in the gold mining space. They view Inmet or FQM as a great opportunity and they are playing it tight. FQ is well aware of the issue and they communicated that to me by email last week.
An easy out for PTQ is : "Inmet give me some cash for the rights"
Petaquilla is looking beyond a short term deal as they should. They have a lot more to gain long term.
They want work and aggregate purchase from the big mine for PDI (PTQ sub). That can be avery large amount of money
They want access to the new road system built by Inmet. It will open up the development of 3 new gold deposits on PTQ land.
They want access to the new port for the ore shipped from Spain.
They can also do a deal for the processing of the gold produced as a by-product of the copper mine. (not sure how much that is worth)
This is a high stake game for PTQ's future and they got the tiger by the tail. We know a tiger can always bite but the rulling muzzled that cat.
Cheers