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Vancouver, BC - May 14, 2013: Petaquilla Minerals Ltd. and its wholly-owned subsidiary, Petaquilla España S.L. (collectively, "Petaquilla" or the "Company"), announces that it has commenced construction of a mine access ramp at its Lomero-Poyatos Project in the Andalusia region of Spain. The ramp will initially be used for bulk sampling, resource expansion through drilling and infill drilling.
Since completing the titling process for its Lomero-Poyatos Project on November 14, 2012, Petaquilla has also:
Engaged in a drilling campaign of over 20,000 metres;
Completed a twin drill program to upgrade the existing National Instrument 43-101 ("NI 43-101") resource estimate from inferred mineral resources to a measured and indicated basis;
Prepared for dewatering the mine, including conditioning the 300-metre deep Renato Tap;
Advanced towards a NI 43-101 compliant feasibility study through resource upgrade work, environmental impact study, mine plan and all other requirements;
Constructed a project office building;
Improved project internal roads, infrastructure and communications channels;
Adopted personal protection measures in preparation for the initiation of mining activities; and
Implemented key environmental protection measures, including the protection of native flora and fauna.
The start of ramp construction initiates the development of the third mining project, and the second in the province of Huelva, in the Andalusia region in the 21st century and the first gold project centuries after the first gold mining occurred in the Andalusian Pyrite Belt. When Petaquilla acquired the Lomero-Poyatos Project, a former sulphide (pyrite) mine, in 2011, the mine had been inactive for approximately 20 years and the Company plans to restart mining.
The Lomero-Poyatos Project, a poly-metallic massive sulphide deposit with a NI 43-101 inferred mineral resource estimate of 6.07 Mt averaging 4.25 g/t of gold, 88.74 g/t of silver, containing 0.83 M oz. Au (please refer to the Company's news release of May 25, 2012, for inferred mineral resource estimate details), comprises 13 concessions totaling 176 hectares.
Shots? I just state how I see it. Here is another thing I see....your buddy slammed me the other day stating that we didnt lose LP as it hasnt been mentioned by any reputable paper and or PTQ. Well, do you believe him or what you have read? All those articles that you have read are incorrect apparently.
Thanks for the life lesson Dad, but if I choose to slam someone because they are doing a poor job, then I will. I couldn't care less how much money PTQ puts back into the community and or charities. I invested in this company to make money and so did you. I didn't invest here to save the world.
Lets get one thing straight.....I couldn't give a rats ass about Dick......I don't care whether he owns half the world.....I am here to make money, thats it, thats all.
I would suggest the Richard (Aka Dick) would step up to the plate and give them all back. After all, it would be the best transaction for all shareholders that had the wool pulled over their eyes. Too bad it will NEVER happen.
Well, today is Friday Jan 10th, 2014
HOLIDAYS ARE LONG OVER
No new updated Corp Presentation as of yet.
No response to my e mail as of yet in regards to specific questions put forth about operations.
No info from the company in regards to the loss of LP.
Well, all appears to be normal......carry on !
I hope you are right because our options are dwindling away. It is truly too bad that we have to rely on a sale to get our money back (if we are lucky enough). Once upon a time, a long, long time ago, I like others thought that we could succeed on our own merits but that is no longer valid. Some posters are still encouraged by management but at the end of the day, they don't care about you and I. They conduct business to line their own pockets.....plain and simple. You don't need a business / financial degree to know that.
I HOPE to receive a reply email from PTQ this week or month in regards to my questions specifically about the road closure and of course the non developments at LP. I even attached the article via REUTERS for them......trust me, I am not holding my breath !
Ask yourself this.......knowing what you know now about what did not happen at LP.......would you vote the current BOD back into power ? Rob Ford could have done a better job.
I just find the totality of this utter horse shit.
Oh i dont blame you or board members for the loss of my money. People like you, MJ, etc loved to think that the roads were paved in gold and would constantly promote it. The amount of smoke you guys blew up other peoples butts was nausiating. What happened to your caravan and the dogs barking.? I think the caravan just went off of the cliff. My oh my how you have changed your tune. Welcome to reality my friend.
Petaquilla es Panama !
"We have them by the balls"......well, that's what some seem to think but the SP and or the turn of ALL these events would not support that theory. Was the road shut down because we failed to pay our employees, OR was it because we are trying to show FQ who's boss ???? Pick an answer.
And remember when we were relying on the money from the sale of the aggregate to support our income......what's that, that's right, they aren't paying us from the info floating around. So, if they aren't going to pay us, accompanied with poor production numbers, how in the hell are we going to pay the people we owe money too, let alone survive.
In the last month or so there are people on this board who claim they know what is going on behind the scenes, but to date NOTHING has happened other than PTQ holding back valuable info. How come the people in the know on this board didnt know what happened to LP considering it was going on for quite some time according to the article ???????????????????
It absolutely dumbfounds me that the Company does not release a PR on current business events. Some posters will probably say that PRs should only be posted when required.....well, sorry to tell you, BUT IT IS REQUIRED FOR THIS MESS !!!!!! I shouldn't have to find this out via an article on the web.
VB offers an excuse that PTQ is on holidays and that is why they have not responded....well, that is his opinion.
IMO that is BS. If we don't hear anything by at least Monday, we will never hear anything.
Well, I just sent PTQ an email in regards to LP and the road closure looking for answers. Wanna make a bet they don't get back to me.?
Not too much pumping going on about this turn of events......hmmmmmmm.
I wonder if any of the major shareholders who have felt that they have truly been blind sided will initiate a class action against PTQ. One never knows.
Maybe that last uptick had to do with the warrants going bye bye....who the hell knows. Im waiting to see the new and improved corporate presentation about this debacle. Come on ptq, get off your lazy rich butts and put out a PR about the lies that were fed to its investors.
The slower one reads that article about us losing LP, the more I believe that we had the wool pulled over our eyes .What the hell were they doing, or shall I say, NOT DOING. Talk about MISLEADING INVESTORS... FIFER should either be resigning or he should be ousted.
Things are worrisome now....are you out of your mind....it has been like that for a while ! Hey, why don't you call up PTQ and ask them what happened. I am sure they will assist you and answer all of your questions. This company is a P.O.S.
One day we are going to be involved in a JV with FQ, the next day we are blocking the roads to teach them a lesson and then finally we are losing Spain. Totally awesome don't you think ?
I thought you were in the inner circle with MJ but apparently he didnt even see this fastball coming. Its OK VB, ITS A BUYING OPPORTUNITY.
Thats because its bad news which is a reality. How ironic...we hit our low at the very end of the year. It hasn't been this low in a very very very long time. Happy new year PTQ.....great job.
Im surprised someone didn't blame the price of gold for this mess....isn't that the norm around here ?
Miners clash over access road
31 | 12 | 2013
Petaquilla Minerals closed access to their private road since last Friday because Minera Panama failed to fulfill one of their contracts , according to official sources in the industry.
Minera Panama is developing the country's biggest mining project. (Archive)
Writing ( negocios@epasa.com ) / PANAMA AMERICA
black mark
Moody's published the lowest of all scores First Quantum Minerals ( FQM ) , after the company release a press release on November 27, 2013 , with respect to a dispute with certain bondholders. To this is also added the maturity of a loan of $ 2.5 million .
Minera Panama remained incommunicado since last Friday with copper project located in Donoso , not have their own access to the site .
The subsidiary of First Quantum Minerals Petaquilla Gold accused of illegally block his access to the only road that allows them to reach the area where the project will develop .
Petaquilla Gold denied the version without elaborating because existing agreements prevent it.
However , officials clarified that the road to which they claim access Minera Panama is owned by Petaquilla Gold , not a public road.
He clarified that the road has not been closed to the population of the area , only teams Minera Panama .
Panama America also learned that until last Friday , Minera Panama used the road under an agreement Petaquilla Gold goodwill that existed between the two parties.
However, Petaquilla Gold closed access to another mine by incumplientos of agreed issues. " This access is for our mine ," said an official source of Petaquilla Minerals.
But Minera Panama insists that the blockade is illegal and warned that if the problem is not resolved promptly , can have a negative impact on the operations of Cobre Panama project.
" The roadblock is interfering with the movement of supplies and personnel to the mine . There are currently 600 people on the site of the mine Copper Panama project, which can not provide food and supplies because of this blockade , "said Todd Clewett , manager of Minera Panama .
In March, First Quantum Minerals bought Minera Panama through a hostile bid actions against Inmet Mining. The transaction may have reached 4,000 million, at $ 70 a share.
First Quantum Minerals promised a plan of cost cutting and restructuring operation in Panama .
The measure affected the economy of the province of Cocle that before the arrival of First Quantum , going through a boom period .
What are you talking about.......if you are talking about MJ's post then according to another poster he is incorrect. If he is right, then so what. My point is very simple.....if the plant shut down as he stated, then it should be mentioned somewhere by the company. I shouldn't have to know someone, to know what is going on with the company I am invested in. This comes back to transparency.....it doesn't exist with them. Are you happy with your investment because I think up until now, it is a joke.
And people like you slammed people like me when I slammed the experts for making their pie in the sky guesstimates about where the SP would be today......great job Zacks et al. There have been so many changes in their estimates i cant remember what the last guess was....somewhere around NINETY.
What...the company didn't let you know....I guess you aren't in the inner circle.
It would appear that if not today, then very soon we will hit a new low for this fine company. At this point, that seems to be the only thing that is guaranteed. I wonder what the EXPERTS price our company at now.
Four for .25 is now a reality.
So, why is this year going to be any different then previous years. I say that because of the promises that were made, and never met in the past. The unfortunate thing for me is this....I don't believe or anticipate any great things will occur. At this point I am just here to break even and get out. Sad but true. There just always seems to be something that holds us back.......always.
And yes, you have to average down? I do agree with that. However, if the SP never surpasses the averaged down price, then you would still be under water. The loses would not be as great but I am here to make money, not break even, but thats the market for yah !
Remember this motto......expect the worst, hope for the best and you cant go wrong.
So what is your opinion about the approx 24.5 million warrants expiring in a few days. Then, in another month there will be another 8.6 million gone. Do you think it will make any difference or do you think they will just re issue it via a new PP at a much lower price just like a few weeks ago ?
well, with all the great news, you should be able to get that filled either today or tomorrow.
So, let me get this straight......so what you are saying is that NOTHING is happening ? Well, at least we are on par for that.
HA. !!!!!!
"Time to give PTQ a rest".....are you kidding me. Its like they have been on a break themselves for quite some time now. Its time for them to turn the heat up on all fronts. Just remember, just because you don't think about a PROBLEM, doesn't make it go away !
We shouldn't have to wait for FQ for anything, other than a JV. We were here before them and should be able to survive without them, if we smarten up.
So what happened to todays PR. Another let down and viscious rumors.
Thats awesome.....and very funny !
Christmas.....yes it is ! Thats the only thing around here thats a given. But if what you are implying is true, we will all be better off.
HA !!!! Just wait till XMAS, I hear that PTQ is putting coal in everyone's stockings instead of gold. Rumor has it that they couldn't find enough of it to go around...what a surprise. But aren't we SUPPOSED to be fully operational by now...WHAT A FARCE ! What was it...oh yeah, something to do with beefing up production an EXTRA 30 percent some time ago.
No one can ever fault you for being consistent !
Remember all those warrants that disappear in a few weeks??? If what you say happens in regards to a PP, they will just re issue them and say hello to more dilution !!!!!
It's always something with this Company. It has been mismanaged, yet this crew is placed back into power by the majority. I hope to hell they know what they have done. No one can control the POG, but the shareholders can control who is handling the company, and in turn OUR money.
Here is an idea to the BOD...smarten up, pull your boot straps up and fulfill your obligations as a miner.
Talk about DEAD money
If I can add / ask you something about a few points...
Most of use were aware that PTQ went on a spending spree that they couldn't support. Its like giving your wife a credit card and saying to her "have a great day "...bad idea !
I agree, bad luck has entered the picture, but if we would have covered avenues off better, I think we would have been in a better set of circumstances compared to today.
I agree that DB will not force our hand, as they are still getting paid....maybe a little late, but getting paid regardless. Being late makes us look like shmengies if I may add and it is obviously bad business.
Now, the part that everyone is curious about....that is whether or not FQ will be taking over some, and or all of our assets. If everyone is aware of this, then why hasn't our SP gone up on this pending news ? It just makes me chuckle when INMET offered us a price and we shot it down and here we stand again, with our backs up against a wall.
So, whatever happened to us becoming a thriving gold mining company ? Did we just get too greedy.....too big for our boots. We have been established long enough that we are not new and shiny anymore. Someone made some really poor decisions.
In regards to your comment about averaging down...I think most of us HAD to do it and yes it does take balls. Its time for this JV to occur and get the hell out of here.
Thankyou
Thank you for your opinion. It was well said
You honestly think that FQ has too much on their plates......Then what about US ???? We cant handle debt and current operations. Not only do we have to try to keep our head above water, now we have to worry about them, so that we may survive. Its a good thing we assisted them with all of that aggregate instead of boosting our production numbers.
Further, you mention that they are falling behind SCHEDULE.....seriously. !!!!! I have never heard you slam PTQ for doing that, because if I need to refresh your memory, they have never been on schedule.
Its very confusing , isnt it. I think i need a drink...or a script !
From your lips to Gods ears.......because we need to be saved at this point and it will take a miracle.
PTQ never had hopes and dreams of gold sustaining the 1600 bench mark. Their figure for being "profitable was closer to 1300-1350 if memory serves me correctly. The price of gold has never had any effect on the SP anyhow. In fact, the only thing that constantly hurts us are missed deadlines, no funding, and missed projections, blah blah blah. It never ends.
Have YOU EVER read a PR over the years that you/we have been here that you said to yourself....that was awesome......they really did a GREAT job....I don't think so. They talk a good talk but things don't seem to come to fruition.
I can remember without going over the PR's that there was maybe one or two that the PR started off by saying..." We are very pleased to announce..." THAT NEVER HAPPENS ANYMORE....because there is nothing of value to announce, therefore they are not pleased...follow me ?
Now we seem to be in the aggregate business....what happened to us being a mid tier GOLD player that many of you boasted about....and that is captured on their website. Its all BS. This company will remain small potatoes for a very long time.
Now you mention that we will be stagnant because of First Quantums downgrade.....well, they were not always in the picture you know. We should be able to be self sufficient and survive on our own as well as any well managed company does.
Like I said, the only way they will survive, is to get eaten up by a bigger fish.
Can you see me smiling ????????? :)
My my my....how your posts have changed from super positive to waiting another two years. You sound like MJK !!!! 2 years plus 2 years plus 2 years etc. Yeah, that's what I want to wait for...to get my money when Im dead.
Don't you remember when MJ stated a few weeks back, if not longer that the deal was done, signed, blah blah blah. Dont you believe him anymore ????
Yeah, even he doesn't post here anymore but I am sure you converse with him on the "positive board".
If the price of gold keeps dipping, PTQ will be shutting the doors just like a lot of other Juniors because they won't be able to survive. I don't think you will have to wait two years for that to happen !
New fact sheet and Corp Pres updated on their website.....relax, as there is nothing new. I still cant believe that they talk about PDI on the fact sheet as it pertains to the shareholders receiving their free shares. Talk about never happening !
Whether there is a deal or not, there are approx 23.5 million warrants set to expire at the end of the month. There is no doubt that they are gone followed by a bunch in January if we are still around.
Five more days until the AGM.
Well, it would appear that gold was kicked in the crotch today. I thought we had hit a bottom last week...man, was I ever wrong. This does not bode well for any miner....but more importantly, all of us because we are stuck here.
Tick tock RBF......tick tock. Nine more days for the AGM......i hope that a game plan is at least let out of the bag. As you have always stated....we are anticipating something to happen. These guys really have to get their sh#t together once and for all. We need the assistance of a bigger fish to swallow us up so we can at least survive. If we continue on this path we are as good as gone.
Has it made any sense to anyone, that PTQ sinks millions and millions into the Spain project when it would appear that we cant even survive well enough in Panama. Focus on One....make it work well...then spread your wings. Talk about ass backwards !!!!!!!
That is all.