Just trying to be helpful.

Many large investors in Petaquilla come from non-financial backgrounds, especially in mining and some will take advantage of this opportunity. I thought it appropriate to bring it to the boards attention in case others might want to participate. I did not consider it off topic since financing is one of the major issues before us.

Our people would be participating in teaching not learning. Perhaps if you review the backgrounds of our financial people you will be better able to understand their unique qualifications. They are listed below by position.

"Why don't you forward the information to the Toronto office and maybe someone might notice and get a little education. Maybe that's their problem? They don't know how to do it. That's the only reason it could be taking this long IMO."

WHICH OF THE FOLLOWING DO YOU NOT FEEL IS QUALIFIED FOR THEIR JOBS, AND NEEDS TO,"get a little education", since in your opinion that is the only reason we do not have more financing in place? Whom do you feel would be better in the respective positions? Will you be attending the AGM and bring this issue to the floor?

For you information, several PTQ stockholders will be attending the sessions. I have an MBA in Finance from a top tier school in the States, but I am sure that I could learn a lot from these sessions, as they are specifically tailored to the mining industry and its unique problems.

Rodrigo Esquivel
President
13 Years at
Petaquilla
•
Partner and founder of Esquivel, Fernandez & Associates
•
Former Executive Vice President of
Exploraciones
Geotecnologicas
, S.A.
•
Former Advisor to Panama’
s Ministry of Finance and Treasury/Legal Adviser to the Ministry
of Health

Joao Manuel
Chief Executive Officer
5 Years at
Petaquilla
•
Previously served as COO of
Petaquilla
Minerals Ltd.
•
Former CFO of
Petaquilla
Copper Ltd.
•
Over 20 years management experience in large multinational corporations worldwide,
including GE, ITT, Nokia

Ezequiel Sirotinsky
Chief Financial Officer
3 Years at
Petaquilla
•
Former Director of Finance of Silver Standard Resources Inc. (Mina
Pirquitas
Project)
•
Previously served as Finance Manager of AngloGold Ashanti Limited (Cerro
Vanguardia
Project)
22
Experienced Management and Board of Directors
www.petaquilla.com

Andrew J.Ramcharan
Executive Vice President,
Corporate Development
1 Year at
Petaquilla
•
Over 12 years experience in mining industry
•
Former Corporate Development at IAMGOLD, Consultancy and Investment Banking in USA,
and operations at
Dynatec
/FNX JV in Canada
•
Closed over $700M M&A deals at IAMGOLD; completed 50 due diligence reviews globally

Especially for Petaquilla investors.

There have been a lot of questions about our financing or lack thereof in the past month. Here is an opportunity to understand exactly what is involved with the issue.

We are delighted to announce the dates and locations for our upcoming Mining Finance Masterclasses.

New York: 11th – 12th November 2013
Toronto: 14th – 15th November 2013
London: 20th – 21st November 2013

This two day intensive training course will give you all the information you need to understand mining finance. A series of presentations and case studies will teach you the principals of mining finance and allow you to interact with the course trainer and draw on his extensive knowledge.

What benefits will you gain from attending?

Understand mining finance terminology so you can apply it in business discussions
Examine different types of mining finance and what is suited to particular projects
Assess when mining finance is required and in what form
Discover how finance is structured for mining companies
Save hours of research time
Leave with a folder full of reference information and advice on where to further your learning

Download the programme for more information.

Cannot express it any other way.

"The strategy should be to buy low and sell high based on how the business is doing. And on that front all is exceptional.
I have been investing for 40 years and don't remember ever buying or hanging around in a company/stock I didn't like. Seems like a pretty stupid investment strategy."

One cannot control nor accurately predict the POG or SP as they are absolutely out of the control of investors or the company. One can only seek to invest where fundamental progress is steady and the company is sound. The vicissitudes of the market are impossible to time. However, over the long term value and progress count in the fundamental scheme of things.

Some invest on emotion instead of research. Some here have invested, coming late to the game, and are now far, far, underwater and have nothing left to average down. They are locked in and will only breakeven someday, when the values are reflected in the share price. They do not have the courage of their convictions to just sell and move on, without trust in their judgement to pick a better opportunity.

Considering the difficult climate over the last couple of years, Petaquilla has prevailed in both growth and expansion of reserves.
Soon many warrants will expire, and as Digi pointed out in his last post, the climate and opportunity for investment is excellent. While some others are close, I have not found another company that has all the things going for it, as were discussed in the July 23, 2013 letter posted on the web site. With the publicly known metrics, it is obviously a great place to invest.

Those who only look in the rear view mirror miss the future. Sitting on shares purchased at over one dollar and refusing to average down when there have been opportunities below $0.30 makes little sense to me.

However, if there were no such people in the retail market, then it would be more difficult for the rest of us to excel. I hope everyone does well in the future, but just holding shares from above one dollar, and not taking advantage of the opportunity with all of the information that is available, is self-defeating.
Each is responsible for their own decisions, and will be bound by the result. As they say, some fish, some cut bait.

GLTA!!!

Jales update from Steve Ralston.

Zacks Small Cap Research – Tue, Jul 9, 2013 7:00 AM EDT

"...In Portugal, two rigs are turning at the Jales-Gralheira concession located in Vila Real District of northern Portugal, approximately 330 kilometers north-northeast of Lisbon. The concession encompasses 1,540 hectares and contains an area of historic mining operations. In modern times, the Jales mine has produced 830,000 ounces of gold and almost 3 million ounces of silver between 1933 and 1992. The first mining operations at Jales-Gralheira date back to Roman times in the 1st and 2nd centuries A.D. Petaquilla is advancing studies toward an updated NI 43-101 compliant resource estimate. The last technical report filed by Kernow Mining in November 2007 estimated a resource (at a 3 g/t Au cut-off) in the combined Measured and Indicated categories of 101,593 ounces Au and 446,567 ounces Ag, along with an Inferred resource estimate of 147,786 ounces Au and 483,621 ounces Ag."

Does a hole in the ground count as vault?

I have this big hole in Cocle province Panama where my gold is stored. It is very safe there I believe. As to paying bills, I do not like to use modern stuff. Too much risk. If you want to be paid by me you must find me in the back country. Sorry....

LOL! Jal,so now more news is out.

As those who have visited Portugal and reviewed the documents already knew. You can add another 4,500oz. AuEq. to that January 2015 number I was using. That was why the one fellow had 21,911oz. for January 2015 in his estimate, but I did not want to include it, since no one had yet spilled the beans on how much gold we would be getting from the first mine in Portugal, starting in another year and one-half. We were relying on the moderator's discretion. So now you can throw another 52,000oz. into the CALENDAR 2015 mix. Everyone who has bothered to do the DD is aware of what the potential really is. Remember the 2010 estimate at the Press Release Video and the newspaper articles in Spain. 5,000,000 to 7,000,000 ounces over in Iberia.

An annual rate of 200,000oz. AuEq. is actual very doable an really was not a WAG at all.

More news to come soon.

Saludos,

Check was returned 'unclaimed'.

Computer deleted your account. Surplus cash was used to buy more PTQMF stock. Please submit new invoice along with notarized time sheets. Fax is not acceptable for payment.

Jal, they have the money for the ramp.

There is no big cap/ex between current levels of production and 200,000oz. Au.Eq. rate of production. What are you talking about???
We are a profitable company and nothing much is in the way but some water that has already contracts in place to remove.

Review the numbers and discussions.

True they project 100,000oz. AuEq. for Fiscal Year 2014. That ends in May 2014. That is when the ore from Iberia starts arriving. You will find, I am sure, that they have projected and shown in the presentation at several conferences, including a color presentation handout, that they will do 130,000-140,000oz. AuEq. in CALENDAR 2014. With the new heap leach pad also coming on stream about that time 16,666 oz.AuEq. for January 2015 is not much of a stretch.

Don't forget that there are seven months left in 2014 after the end of the Fiscal Year. Production has ramped up 30% with the 4th ball mill. Digi just told you it will be increased another 25% over the next few months to 5,000 t/d. That was also in the newspapers in Panama. The ore grades from Iberia are fantastic and we are shipping at a rate of 240,000 tons per year by the end of Calendar 2014.

SURE ANYTHING CAN HAPPEN BEYOND THE CONTROL OF THE COMPANY. LIKE AN EARTHQUAKE LIKE WE HAD THIS MORNING COULD BE CENTERED IN COCLE. However, planning is done based on what is known and what can be controlled. The plan is for an annual rate of 200,000oz. AuEq. starting no later than January 2015.Your opinion that this is a "pie-in-the-sky projection" is certainly as valid as anyone else's opinion.

I base my opinion on the facts that I know currently. You base yours on past failures to meet projections. We each make our own investment decisions based upon our judgement. Personally, I and others are, whom I communicate with, steadily accumulate all the shares we want at very low prices. Those selling to us probably share your vision for the future of the company, and have just given up or grown tired of waiting. As VB likes to say, "glass half full or half empty".

GUESSING AND PLANNING ARE NOT SYNONYMS.
Planning synonyms, Collins English Thesaurus: noun. = scheme, system, design, idea, programme, project, proposal, strategy,
method, suggestion, procedure, plot, device, scenario, proposition, contrivance. It is a formal function very necessary to successful operations of a manufacturing or processing entity. Our plans are for 16,666oz. AuEq. January 2015. God willing and the creek don't rise!!!

JAL, READ THE POST AGAIN SLOWLY...

I said the "rate" of production will be 200,000 AuEq. by calendar 2015. That is 16,666 oz. AuEq. for January 2015. The numbers are all out in the public and you can do the calculation yourself. Only thing not "officially" available to you from the company, but posted by those who have seen the numbers, in the new LP 43-101, are the ore grades from Spain and Portugal. You already have the volume to be milled. You know the ore grades projected from Molejon from the Behre Dolbear 2010 Molejon Report and the I-Box. You know the amount of ore that will be shipped into Panama. Just do the calculation for yourself and tell me where you have a problem.

You know the capacity of the mill, the heap leach forecast production, the ore grades, the conversion to AuEq., the conversion of grams to ounces. We are not talking about share price or price of gold...just the RATE OF PRODUCTION IN JANUARY 2015.

Several other posters on this board have done the calculation and reached relatively the same number of ounces. Specifically they were: 16,970oz. 18,477oz. 21,911oz. 19,652oz., for January 2015.

I picked a rounded 200,000 oz. AuEq. rate that was on the low end even at that. Please do you own calculation and tell us where you think the numbers are wrong. I have no idea about the future price of gold or the share price at that time, but I have a good handle on the production. Profitability is another question, depending on the POG from $875.00 to $2,000.00/ounce, and of course the Share Price that you know can be irrational.

Fascinating discussion about FQM buying PTQ.

Here are some factual considerations:

1. As you posted herein FQM is struggling to get long term financing for the $2.5 Billion short term loan the needed to pay Inmet stockholders in accordance with the offer.

2 Everyone who follows the news must be aware of the huge cap/ex expenditures that Zambian mine and smelter are requiring, especially now that the government is taking a bigger cut, and the other entity has been brought into the mix.

3. While the Cobre Panama Engineering Report is fast becoming moot as the plant site, power plant, camps and most other things are being moved, the size of the operation is not changed. With the new reserves proven within the Minera-Panama concessions the mine now has a life of over forty years running at full capacity.

4. Those who have studied the 1960's UN reports and have some geological understanding of the batholith throughout Cobre Panama would come to the conclusion that there is a very large amount of copper on Petaquilla's concessions. Several of those deposits have been discussed publicly and investors are well aware of the value.

Inasmuch as there is no access, land use, or any such issue between PTQ and FQM; inasmuch as FQM has committed to the Panamanian Government that they will not pursue PTQ in a HT manner; inasmuch as the vast majority of stockholders know the value of the assets; it is difficult to see a scenario where a majority of PTQ shareholders would sell off at an 88-92% discount. Much less would it be feasible for FQM to want to commit to a large purchase of reserves that would not be touched due to capacity constraints for 40 yrs.

More likely I believe is that down the road a few years you will see FQM join PTQ in an attempt, working through the Catholic Church in David, to secure an agreement with the natives to develop Cerro Colorado. The Chinese have already inquired about shipping that ore through Panama City to Asia. They have also indicated a willingness to build a new port to the west just for such a purpose.

In the meantime, the huge reserves that are being drilled in Panama at the targets both on Minera-Panama and Petaquilla concessions assure plenty of AuEq. for Petaquilla. Digi was kind enough to reveal the plans for the new 5,000,000 to heap leach pad. I believe that will give us something near 6,000,000 tons of pad capacity, or as he stated 35,000oz./yr. at a very low cost.

The g/t numbers from the new 43-101 LP report and the g/t that will be coming out of Portugal, (still can't pull up those pictures in my I-Box), combined with the higher ore grades under the aggregate should put us well over 200,000oz. annual rate AuEq. by calendar 2015. In the mean time it is just continued steady progress.

Petaquilla is doing very well and life is very, very, good.

Loji went to TJ without passport! STUCK!!

Check is in the mail,,,

but honestly, photos did not appear in my I-Box...must be something wrong with my system. At least we have been entertaining without company complaints while waiting for news.

Saludos,

Patience grasshopper, out for printing.

Be mailed to you very soon!

Fact.

On TSX 319,000 shares traded at or substantially up from yesterday. Only at the end of the day, a trade of 9,000 were sold to lower close. Interesting.

Ask and you shall receive, smile.

Photos of Portugal project??? LOL!

Can't agree more, lets stop the feeding....still talking about a CC call from four years ago?? Give me a break.

Thus ends a very nice Monday!

0.35 +0.025 +7.69% PTQ.TO

45.20 +3.68 +8.86% GDXJ

0.34 +0.01 +3.72% PTQMF

0.25 +0.02 +7.76% P7Z.F

Two more gold pours and Q1 Fy 2014 is in the history books!!
Twelfth consecutive profitable quarter!!! Lots of good news
coming out in the next three weeks. Just in time as money begins
to rotate back into the sector. Let the audited and third party official filings speak for themselves!

PETAQUILLA ES PANAMA!

“International supervision over the issue of U.S. Dollars should be introduced and a new, stable, and secured global reserve currency may also be an option to avert a catastrophe caused by any single country.” -China’s official news agency Xinhua NATURALLY THAT CURRENCY WILL BE BACKED BY GOLD. STRONG SUPPORT FROM BRICS AND MUSLIM COUNTRIES.

Thanks I was not aware how it worked.

I see now there has been one small trade on PTQMF. About enough for a nice family weekend at the beach. I get a kick how the boards jerk the market cap around based on thin pocket change trading!

Even Canada took 88 trades to get to $50,000 USD. Seems like a trader would wear out his fingers and only make minimum wages at those trade volumes. Makes it nice for slow long term accumulation in nice little bites.

IH Board shows Support 2, Support 1, Pivot, Resistance 1, Resistance 2, all at $0.33 along with the one trade @$0.33. Fascinating!!

Perhaps PTQMF trading halted rumor true?

0.345 +0.020 +6.15% PTQ.TO

45.49 +3.97 +9.56% GDXJ

0.3278 0.0000 0.00% PTQMF

0.25 +0.018 +7.76% P7Z.F

Lots of nice volume and upward movement everywhere else. GDX guys also going up. NO TRADING ON PTQMF.

Usual for PTQMF. TSX PTQ up 4.6% Good Volume.

Whoops...make that 6.15% now....average daily volume already in this morning. Problem may be those trading on PTQMF have no money!!! Or perhaps they have been regularly accumulating over the months and years and have reached their investment goal. Time to buy FQM.

GDXJ UP A NICE 9.4%...COME TO DADDY!....IF GOLD TOPS $1360 WE MAY HAVE TURNED THE CORNER.

OK, now I see what you mean.

However, FQM already resolved the land issue last fiscal year as far as they were concerned. Without a desire to mine there is no reason to have the concession. Now it is possible that another entity could buy the company. I do not see anyone, except maybe the Chinese ensconced over at the Trump Hotel for a year, willing to make an offer that would recognize the fundamental value of the company, and be a price that the majority of stockholders would accept. Cultural issues aside, I don't see it selling for less than $4.00-$5.00 a share for the assets in Panama. There is no one on the horizon willing to pay that, and a large majority of the stockholders, realizing the future opportunities, and the leverage in Panama, would not sell for less.

Sure the little guys in the retail market would do somersaults just to get $2.00/share, but the deep pockets have no need for money, and see the future from a different perspective. I can't speak for them, but that is the feeling I get, anytime I speak to those with at least seven figure investments. You have five groups: 1. Germans, 2. Elite Panamanians, 3. Large stockholders of record, 4. Company Management & insiders. 5. Small retail stockholders. I think groups one through four represent about 85% of the stock.

When the GDXJ returns to new highs it will be a whole different story. Eventually Ben will run out of ink, paper and gas for the chopper.

I guess I do not understand.

The Supreme Court has ruled that Petaquilla cannot sell or transfer any of its concession rights to a third party. The concession right can only be used for mining and associated infrastructure required. FQM has already acquired use, access, and other specifics needed for their project in an agreement approved by the three government entities involved. Inasmuch as there are no other parties involved I do not understand how any "land rights" could have value or actually be utilized by a third party. I have reviewed the pertinent filings and do not find them either precedent setting,or opening any further non-mining development by a third party.

As you must know there are various groups of natives living a subsistence life on portions of the concessions, but there is no development in the usual sense. The company may not clear, harvest lumber, farm, or raise cattle on the concessions. The company does not have title to, nor will it be paid for the lands taken for the new northern highway across the concession. The biodiversity corridor agreements also place very strict limits. I just do not see any value other than that which has been obtained from FQM, other than that to be gained from the extraction of Cu, Ag, and Au.

Geico, you are right on real estate.

Tried to explain that to the board three years ago. Several large PTQ investors purchased land on north shore and near Penonome. Here no one was interested. Some was sold recently for forty times investment in just three years.!! One ten hectaria parcel purchased for $200,000 USD sold for $14,000,000 USD for a new resort. Well connected Panamanians are doing very well in real estate.

Concerning Petaquilla concessions, they cannot be sold or used for anything other than mining. Even then everything must be presented to ANAN, MICI and the new mining oversight cabinet department for mining. (Can't remember the name off hand.). Cobre Panama land is owned by the Panamaian Government and cannot be sold. After 30 years the concessions can be extended for another thirty for mining only, but cannot be sold. I think there will be mining on Cobre Panama for at least 40 more years. Lots of copper and gold targets well established since UN study in 1960's. Minera Panama has 30 yrs. LOM on their known concessions alone. Like in Spain where whe have our deposits they have been mining this area in Panama for at least 2,000 yrs.. Lots of good ore left.

When I was young in the late 1940's we used to walk along the river bed walls and see when the natives only mined the gold veins as far as their arms could reach back into the rock! You could shine a light in and see the gold veins.

Factual updates JULY 23, 2013.

PDI Update - Plan to spin out PDI to shareholders. Shareholders will receive 1 share of PDI for 4 shares of PTQ they own. Petaquilla’s wholly-owned subsidiary, Panama Development of Infrastructures (PDI), has US$75 million to US$100 million Aggregate and Screened Rock contract in place with Minera Panama S.A.

Company Panama Operations Update - Profitable every quarter consecutively since Q3 FY2011, with compelling multiples.

Established low-cost gold producer with cash cost of US$550-US$600 per gold equivalent oz. sold. Heap leach process in Panama will increase production.

Currently annual production at 70,000 gold equivalent oz. at Molejon mine in Panama with plan to increase mine life with the Botija Abajo and Palmilla deposits.

Cooperative new relationship with First Quantum Minerals, owner of the $6.2 billion Capex, Cobre Panama copper project, next to Petaquilla’s Molejon mine.

RED KITE LOAN TO PAY OFF DB - Widely known fall of POG has made it obvious to all parties, and the public who follow such matters, that the advanced payment of DB loan is obviously not a reasonable or viable proposition. It is unnecessary to make further comment. As the moderator has stated and the company verified there is sufficient money to do cap/ex necessary to ship ore to Panama. Any prudent Financial VP would obviously wait for better terms and times while managing a PROFITABLE company under no presser to borrow money.

Follow up detailed report of progress.

The following is a list of project improvements undertaken and completed as noted since the titling of LP at the end of 2012. This is a thorough list and was provided by the Spanish team and the company five months into calendar 2013.

I recall no response to this list although statements have been made the the company never follows up with information on projects.

Since this May report the 20,000 meter drilling campaign,(1),has been completed; (3) dewatering contract was let and reported in the press. The newly activated Seville Portal allows public to keep updated on subsequent activities and progress.

SIX MONTH PROGRESS REPORT ON LP ACTIVITY

"1.Engaged in a drilling campaign of over 20,000 meters;
2.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;
3.Prepared for dewatering the mine, including conditioning the 300-metre deep Renato Tap;
4.Advanced towards a NI 43-101 compliant feasibility study through resource upgrade work, environmental impact study, mine plan and all other requirements;
5.Constructed a project office building;
6.Improved project internal roads, infrastructure and communications channels;
7.Adopted personal protection measures in preparation for the initiation of mining activities; and
8.Implemented key environmental protection measures, including the protection of native flora and fauna."

I find it difficult to find fault with such communications. The facts speak for themselves.

Basing decisions on information from Q3 2013?

It would seem that things have changed in both the Macro and Micro worlds since Dec. 2012 and Jan.-Feb. 2013 that would preclude making judgements based on very old outdated data. There are several mico events covered by PR's since then:

Petaquilla Minerals Ltd. and FQM (Akubra) Inc. (formerly known as Inmet Mining Corporation) Execute a First Amendment to the Commercial Arrangement Term Sheet
May 30, 2013


Petaquilla Minerals Ltd. Signs Aggregates and Screened Rock Purchase Agreement With Minera Panama, S.A. Through Petaquilla's Wholly Owned Subsidiary Panama Desarrollo de Infraestructuras, S.A.
May 28, 2013


Petaquilla Minerals Ltd. Commences Mine Access Ramp Construction at its Lomero-Poyatos Project
May 14, 2013


Petaquilla Minerals Ltd. Announces 18% Increase in Revenue, 15% Increase in Net Income and 46% Increase in EBITDA for the Third Quarter of Fiscal 2013
April 17, 2013

Why Invest
As of Jul 23, 2013

"PTQ: A Mining Pioneer

Petaquilla pioneered the Panamanian mining industry
842 square kilometres concession area in Panama 130 km. west of the Panama City


A Consistently Profitable, Low-Cost Producer

Profitable every quarter consecutively since Q3 FY2011, with compelling multiples
Established low-cost gold producer with cash cost of US$550-US$600 per gold equivalent oz. sold
Heap leach process in Panama will increase production


Strong Upside Potential

Currently annual production at 70,000 gold equivalent oz. at Molejon mine in Panama with plan to increase mine life with the Botija Abajo and Palmilla deposits
Cooperative new relationship with First Quantum Minerals, owner of the $6.2 billion Capex, Cobre Panama copper project, next to Petaquilla’s Molejon mine
Petaquilla’s wholly-owned subsidiary, Panama Development of Infrastructures (PDI), has US$75 million to US$100 million Aggregate and Screened Rock contract in place with Minera Panama S.A.
Plan to spin out PDI to shareholders. Shareholders will receive 1 share of PDI for 4 shares of PTQ they own
Geographically diverse with the Lomero-Poyatos development project in Spain and Banjas and Jales-Gralheira exploration projects in Portugal


Diverse and Friendly Mining Jurisdictions

Panama is an established and stable dh3ocracy with historic ties to the United States, has the fastest growing economy in Latin America, and uses the U.S. dollar as its currency
Both Spain and Portugal are European Union countries that are supportive of mining."

In addition, the macro world is very different and obviously would not look favorably on pursuing money to fund something that is not urgent. It would make no economic sense to payout DB with the current price of gold and incur those extra costs. I guess that is not obvious enough for some to reach that conclusion. Progress reports from the moderator and others who have visited Spain, and were kindly posted here, affirmed that great progress was underway and sufficient funds were available to complete scheduled exploration and to build the ramp necessary to ship ore. Steve Ralston also reported the same information on Zacks.

As I posted twice this day: At the end of the month, another year of audited books will be on file for all to peruse, if there is any real doubt about our success, and an informative MD&A also under audit opinion is included. Thus in just fifteen more trading days, there will be valid information covering everything up to the middle of this month.

The moderator indicated that his information was less than twenty-four hours old. That's good enough for me. I would venture that the above referenced information all coming out after the heretofore referenced Q3 Dec.- Feb. SEDAR filing would constitute announcements and follow up on plans and projections, or at least certainly mentioning them again. FWIW, I too feel PDI should be held back until GDXJ improves.

No causal relationship with SP. Chart irrelevant.

The facts speak for themselves when posted. Furthermore, at the end of the month, another year of audited books will be on file for all to peruse, if there is any real doubt about our success, and an informative MD&A also under audit opinion is included. There is no point in further discussion.

No question management team is first class.

One need only to review their backgrounds, summarized in the Corporate Presentation, to be impressed with their qualifications.
At the same time that Barrick Gold Corporation - The world's largest gold producer - is shutting down 35% of their operations, selling assets to raise money, while laying off employees to save money they cannot borrow, Petaquilla is growing, staying profitable, and is uniquely positioned to ride out the difficult times while a large percentage of the industry, both big and small, struggle.

The A/P is a little larger than most would like, but it is not aging and accounts are either in friendly hands, or under control. There are no issues of record with any vendor where there is a recognized debt. On the contrary, the pull back of FQM after the takeover of Inmet put great pressure on suppliers of all types in Cocle, and has been commented several times in the press. People are more than pleased that Petaquilla is spending money, providing more jobs, and continuing to expand. With the establishment of the Labor Office by Petaquilla with the government, there was a statement at the press conference, wherein the government informed that there never were before, nor existing now, any labor related payment demands of record.

Participation, engagement, pro-active respectful involvement, are keys to keeping informed. The many conferences allow one on one interaction with experts in the field who control huge capital structures. If one's investment is small and does not merit the investment necessary for personal on site DD and attendance at industry meetings, then one can use the actions of management, large stockholders, and research entities to take the pulse. Petaquilla is frequently commented on positively by these knowledgeable people in the press; they have invested their own, and managed money, in the company.

Sustained growth in equity and profitability is all you can really ask of management. To continue to deliver both in the current climate is something to recognize and celebrate. It is unfortunate that our moderator has to constantly challenge misrepresentation of the facts, but the alternative would be worse.

The facts speak for themselves when posted. Furthermore, at the end of the month, another year of audited books will be on file for all to peruse, if there is any real doubt about our success, and an informative MD&A also under audit opinion is included. There is no point in further discussion.

Fortunately PTQ is very profitable @$1,300/oz.

The settlement of all issues regarding land,access, and aggregate sales with FQM, that was accomplished last year in FY 2013, guarantee a diversified FCF for years to come. Low grade or high grade ore makes no difference, as it is the low cost of production and capacity that actually generate profits. With a very low cost of production, Petaquilla has a very enviable place in the market. The addition soon of the very high grade ore from Spain will make us even less susceptible to vicissitudes of the market. Barrick Gold announced this week that they will shutter 12 of their 27 mines because of costs of production. As the supply diminishes in the market place PTQMF looks even better with its sustained growth. Whether or not the short term share price goes up or down is really irrelevant to investors, and of course out of control of the company.

Posted supporting your and VB statements.

Lots of effort and research. Post was deleted. LOL. Guess that's what get for agreeing!! Asking IH to just cancel my participation
further. Good luck!!

As usual at variance with the facts.

You should have listened to the conference call this morning from FQM that specifically addressed some of the points you wrongfully addressed. The replay is still available. You can get the number from the web site.

No bill problems, land deal was finished and paid for last fiscal year, PTQ not marginal, but very profitable last 10 consecutive quarters, no new restrictions or demands from creditors relative to PDI or payment schedules, stockholders equity increasing along with production, POG up from $1212 to $1347 last 30 days well above DB ceiling.

Sources: Public Records Panama, audited by Ernst&Young financial filings on SEDAR, MD&A associated and governed by TSX along with BCSC, FQM filings, Press Releases and web casts, Kitco 30day chart.

Thanks VB, long term good news for PTQ.

I believe the vocational training a joint effort by FQM and PTQ. Road building is continuing as it is relatively low cost and there will be a big push in the dry season. The power plant will also supply us and we will get out of the high expense diesel fuel business. PDI's experience and expertise on site is a benefit to FQM with all of the transmission work to be done.

FQM Slows development of Cobre Panama.

This may well affect PDI work and sales. Guess someone should tell Reuters that Cobre Panama is in Panama and not Peru!!! LOL!!

Reuters, July 31, 2013: "...Production in the quarter was boosted by First Quantum's takeover of smaller rival Inmet Mining Corp, which it completed in early April, winning access to one of the world's biggest untapped copper deposits, the Cobre Panama project in Peru.

First Quantum is betting its hands-on approach to procurement and construction can dent development costs for Cobra Panama that Inmet had pegged at $6.2 billion.


On Wednesday, First Quantum said it has already "considerably" slowed cash outflow at the project and plans to give a full update in the fourth quarter."

Philip Pascalls on Marketwire: "At Cobre Panama, we have maintained our corporate responsibility program, and have now applied our steadier practical approach to project development. As a result, the cash outflow has slowed considerably and our team is confident that we can achieve the outcomes we had envisioned. We expect to provide a full update on the project in the fourth quarter of this year."

Don't forget the conference call tomorrow morning wherein Cobre Panama and Petaquilla will be discussed. It is obvious that the idea of FQM buying PTQ is total fantasy, just from looking at their struggle to meet current liabilities. It was good that they were able to pay back the 2.5 billion short term loan needed to acquire Inmet.

There have been articles in the Panamanian press about the slow down of funding Cobre Panama and its affect on local business.

Anyone want to clarify this?

Corporate Presentation July 2013, states that 23,399,402 warrants expiring December 2013 ARE exercisable @ 1.3 shares each.
(Footnote #2 at bottom of page #7.) Share Structure under Investors heading on web site states that 23,300,402 warrants expiring December 2013 are NOT exercisable @ 1.3 shares each.

Share Structure further states that 157,600 warrants also expiring in December 2013 ARE exercisable at 1.3 shares, contrary to the Corporate Presentation which states they are NOT exercisable at 1.3 shares.

We are talking about a potential of 7,000,000 shares one way or the other. I guess it really doesn't matter since most will go away in December and all of them if we are below $0.60, but it is a bit confusing.

Let me try...

#21085. unfortionately (sic) when money was flooding into the gold market-in the biggest gold boom in history-what happened to PTQ?[check the 3 year chart]...and if it didn't THEN-

False source PTQMF @ Yahoo $1.30/share

#21118. [when you quadruple the sharefloat-you decrease the value by 75%].

False source Investments 101 UND share increases are increases in value if used to increase assets.

#21044. FAILURE to keep shareholders informed in a timely manner.

False source WWW.Petaquilla.com, SEDAR, SEC.

Question is, when does repeated willful attempts to mislead the public and damage holdings of investors rise to the level of liability for the individual, as well as the board, that tolerates such activity knowing that it is misrepresentation designed to damage stockholders.

Huge PETAQUILLA facilitating news in Andalucia!!!

Petaquilla directly involved and representatives present at introduction of this great achievement!!!

PETAQUILLA INFORMATION NOW AVAILABLE TO THE GENERAL PUBLIC IN ANDALUCIA VIA THE PORTAL. THIS WILL GREATLY ENHANCE THE VALUE OF OUR PROJECTS AND ALLOW US TO MORE FORWARD EXPEDITIOUSLY IN ACQUIRING ADDITIONAL RESERVES. THIS WAS A MUCH NEEDED AND VITAL ADDITION DIRECTLY LINKED TO OUR COMPANY. SOME OF THE SAME DIGNITARIES PRESENT THAT WERE AT OUR 2010 PRESS CONFERENCE WHEREAT CREATION OF THIS PORTAL WAS DISCUSSED. CAN'T GET MUCH MORE DIRECT OR RELEVANT TO PETAQUILLA-SEVILLE!!!!

Andalusia, 25/07/2013

Image portal launched today in Seville by the Secretary General of Innovation.
The Ministry of Economy, Innovation, Science and Employment has launched today in Seville Andalusia Mining Portal, a unique tool in Spain with real-time information and digital mapping. The presentation has been made by the Secretary General of Innovation, Industry and Energy, Vicente Fernandez, who has ensured that this page "improving existing content on the website of the Information System of Andalusia Geological Mining (SIGMA) with access to various services related to mining activities in the community, such as administrative, geographic services, mining registry, map viewer, news or bulletins. "

Fernandez has considered the initiative a "milestone" in the actions it has set the regional government in the mining sector and assured that "responds to our commitment to modernization and innovation in the sector".(This commitment was made to Richard Fifer, Don Cristobal Colon de Carvajal,Caballeros de Guadalupe, member and Chairman of our BOD!)

Also noted that only in regard to the Inventory of Records Miners (Invemin), already more than 380,000 scanned documents, facilitating the location of documents for all management professionals and greater efficiency relation to companies. "It is therefore a unique portal in Spain, and tool dedicated mainly to mining entrepreneur so as to facilitate and streamline the management of the public domain".

Portal Utilities

The website, which has an English version, to have updated information on line and real-time mining rights in each territory. Moreover, as there is a mapping associated grids can be overlaid permission to occupy any land geological studies and even maps indicate the presence of ore. At the same time, thanks to the map viewer also have access to environmental information that occupies the surface, such as the existence of public forest or protected areas.

By mapping from the Cartographic Plan of Andalusia, it is possible to know what the nearby villages, road and transport infrastructure available, lakes and reservoirs, rivers or other.

The portal Andalusian mining is proposed as a tool for interacting with management, an open forum in which to resolve questions directly responsible for the services of the Directorate General of Industry, Energy and Mines of the Government of Andalusia.

The presentation was attended by the Director General of Industry, Energy and Mines, María José Asensio, of territorial delegate of the Ministry of Economy, Innovation, Science and Job, Aurora Cosanao, and representatives of the mining table (Confederation of Businessmen of Andalusia, CCOO and UGT). Also attended the event many professionals and business representatives Andalusia.

In about 120 days shares fully diluted will decrease 15%.

That will bring us all the way down to about 236,000,000 fully diluted. When the warrants started expiring we had about 278,000,000 fully diluted. Seems we are actually not diluting at all and stockholder's equity went from $7MM to $50MM FY 2012.

Combine that with the purchase of assets in Portugal and Spain!!

There should be some rule about willfully posting disinformation to poison the board and mislead potential investors.

Major impact on Petaquilla, note implementation date.

Asamblea Nacional de Panamá aprobó ley que inmoviliza acciones al portador
29 | 07 | 2013 Por Panamá/Acan-EFE

La ley establece que las polémicas acciones al portador, serán puestas en un plazo de dos años en custodia de entidades autorizadas para que pueda establecerse su propietario en los casos en que se requiera.
Asamblea Nacional de Panamá aprobó ley que inmoviliza acciones al portador Pleno de la Asamblea Nacional. Foto/Cortesía
La Asamblea Nacional de Panamá aprobó hoy en tercer y último debate un proyecto de ley que inmoviliza las acciones al portador en este país, con lo que espera no ser incluido en listas discriminatorias de paraísos fiscales.

El pleno de Asamblea Nacional de Panamá aprobó el proyecto de ley por aclamación, en presencia del ministro panameño de Economía y Finanzas, Frank De Lima, en una sesión que fue transmitida por el canal de la televisión parlamentaria.

La nueva ley, que debe ser sancionada por el presidente panameño, Ricardo Martinelli, y publicada en la Gaceta Oficial para poder entra en vigor, busca "adecuar la legislación panameña a los más altos estándares de la industria internacional en materia de transparencia", según el Parlamento.

La ley establece que las polémicas acciones al portador, criticadas por los organismos internacionales porque pueden ser usadas para evadir impuestos u ocultar patrimonio, serán puestas en un plazo de dos años en custodia de entidades autorizadas para que pueda establecerse su propietario en los casos en que se requiera.

Los representantes de la banca y el derecho pidieron que su entrada en vigor fuera en un plazo inferior a dos años, pero los diputados no modificaron ese artículo del proyecto.

Un sector de abogados especializados en la materia advirtió anteriormente que la ley generará perdida de competitividad del centro financiero internacional de Panamá y que en la Organización para la Cooperación y el Desarrollo Económico (OCDE), que exigía se aprobase esta norma, hay países que tienen acciones al portador.

El viceministro de Finanzas de Panamá, Darío Espinosa, explicó previamente que la ley busca salvaguardar el sistema financiero y advirtió que, de no aprobarse y de Panamá no pasar la revisión paritaria del Foro Global de la OCDE, las líneas de crédito y corresponsalías de los bancos en el país se verían afectadas y el coste de los créditos aumentaría.

La ley busca la mejora de la imagen de Panamá como país cooperador en la lucha contra el mal uso de los servicios financieros y diseña reglas acorde con los estándares internacionales para brindar seguridad a los inversores.

Igualmente, adopta un régimen que permite preservar las acciones al portador mediante la custodia de sus certificados de manera privada por un custodio autorizado, con la finalidad de poder tener certeza de su propietario en casos concretos sin afectar su libre circulación de manera reservada.

Panamá ha firmado una veintena de acuerdos para prevenir la doble tributación y de intercambio de información fiscal con países de la OCDE y sus socios comerciales con el fin de no ser incluido en las lista de jurisdicciones que no cooperan con la lucha contra la evasión tributaria en el mundo.

My thoughts also.

For those interested and/or who care about it, the web site is now on line with the latest information. Of interest to new potential investors is the, "Why Invest in Petaquilla?" letter of July 23, 2013 that contains compelling information, and has a pretty picture of 'The Cat' in Panama Bay. Life is good....

Notice up on web site now.

Preliminary numbers coming soon per IR. Wonder is our PE Ratio will drop even lower. Need more than $0.02 for that to happen.