Petaquilla Minerals Ltd. (fka PTQMF)

[acanuck]

After a year of financial crisis and problems with its workers, Petaquilla Gold restart extracting gold from February 1, 2015.

This after Baseline Financial Group, Inc. and Petaquilla Gold SA, closed a contract to ensure the optimization and development of gold processing project in Molejón province of Colón, reported yesterday the miner said in a statement.

Baseline Financial Group provides a first payment of $ 10 million, with a total investment of up to $ 25 million required for the implementation of the industry.

The aim of the negotiations was to create a trust that will supply the money required to restore liquidity and revive the operations of the mining project to pay wages to employees, including debt to the Social Security Fund, and then to gradually cleaning up the finances company, says the note.

Once the period of fiscal consolidation company completed, the remaining funds will be used to satisfy shareholders of the company.

The contract was signed on January 15, 2015 to make an investment in facilities with profit sharing Petaquilla Minerals 60% and 40% of baseline Financial Group.

10% of the profits will go to the administration of the trust

Easy money from this level!