GREY:PTQMF - Post by User
Comment by
wwadehammeron May 03, 2013 9:44pm
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Post# 21338508
RE: RE: Hey WWade
RE: RE: Hey WWade To goldpet and PMC. It was interesting to me to go back and read what Behere Dolbere (my spelling is bad, sorry) had to say about heap-leach. Everything they discussed in the NI 43-101 seems to be happening. The delay in reaching planned heap-leach production is probably caused by clay soil and heavy rain. However, PTQ is building the pads per Behere Dolbere's NI-43-101 and hopefully the heap-leach will produce up to 30,000 ounces of gold plus a lot of silver in 2014 and beyond. The pictures that were posted were eye-opening showing how large the heap-leach pads really are. Quillons (spelling again) posted that it was a lack of cyanide available for purchase that caused a large part of the delay. I hope it contributed to the delay because it seems like an easy fix. There are always big ifs with this company and two of the biggest ifs are Lom Poy and the heap-leach. If Lom Poy doesn't pan out the SP isn't going to go much higher as we become basically a junior gold heap-leach miner and small construction company after two years. If the heap-leach also doesn't work out, we become a just a small construction company in two years with a limited supply of aggregate to sell. Those two big ifs and the drop in the price of gold is why we're at 37 cents today. Based on management failures in the past to meet goals, people will not invest until they see results. Lom Poy is the key, if they can ship ore containing 4.5 grams per ton from Spain to Mojolon for processing at a reasonable cost, then I believe the SP should go to well over $1 sometime next year, probably right after the 34 million warrants at $1.45 expire. With all the bad things that have or could happen like the drop in gold price, there are other good things that could happen like ODN not being as bad as it looks right now or some other big discovery resulting from the drilling program. Yep, like PMC says, this is a Vancouver penny mining company and we could lose a lot or make a lot. We three have the right to post negative comments on this board as management has not delivered on its forecasts on a timely basis and the SP stinks. As stockholders we have a right to complain with the current SP being 37 cents. Everyone has the right to be optimistic and point out the good things and it helps everyone when they share knowledge not available to all but to call us stupid and uninformed when we point out the difference between what management publicly forecasts and actual results is not helpful.