Good News for us, bad for Inmet.

If you go to Panama-America you will see photo of Inmet's disastrous operation in Spain which highlights the establishment of this department. Foot to drop on Inmet soon!

Alberto Pinto (alberto.pinto @ epasa.com) / PANAMA AMERICA
President Martinelli Management

The president, Ricardo Martinelli, said yesterday that will create the Ministry of Energy and Mines, due to the importance that they will have these economic activities in the country in the coming years.

He explained that this portfolio will result from the merger of the Department of Mineral Resources, which now belongs to the Ministry of Trade and Industry, and the Ministry of Energy.

In that regard, he said that next year will be tendered the exploitation of oil and gas in Panama, "we do what we can to lower fuel prices."

He added that in 2015 Panama will be a mining country, and gave the example that a few days ago Donoso Township received $ 4 million, part of one of the mining companies. Added to that next year could be receiving $ 50 million for works in the district of the province of Colon.

"Mining will produce what is causing the Canal. Was going to prove that mining is profitable, well done," he said.

Going to the Loji I-Box...

With gold now at $1,790.00oz. and our need to give 17,820oz. of AU to DB this fiscal year, we can drop $8,910,000.00 right to the bottom line by paying off this gold facility. That is well over $0.04/share. Add that to an augmentation of production of 30% as the expansion kicks in next month and we will be well on track to at least double our EPS for FY 2013. That single return alone would be more than our best quarter ever, and above our last two quarters combined! It is quite conceivable that FY 2013 Q3 would reach $0.10 per share, particularly if Inmet gets its act together and buys some aggregate, and we payoff the AG facility as well.

The rating of the bonds by Moody's was good considering the caveats that they explained, and getting an upgrade to "B" level should be easily achieved. It could come before the end of FY 2013. With all of the brouhaha generated by Inmet, it is good to keep you eye on the ball of development, and realize how much progress we are actually achieving. I imagine PTQ will point that out in their recommendation whether or not to accept Inmet's most generous offer.

Off to the woods!

Saludos,

Just the facts.

1. Molejon is tightly controlled inside Minera-Panama concession.

2. There are no vendors or contracts on site.

3. Offices are miles away in Penonome, La Pintada, and Panama-City.

4. To visit, there is a vetting process in Panama-City and no one is allowed to just go to the site in private vehicle.

5.You are vetted, meet with those in authority in Panama-City and escorted in a company vehicle.

6.There are guards, check points, and paperwork must be prepared days in advance.

To arrange several trips to Molejon in the relatively short time of several months would be a very expensive undertaking for all concerned. Maybe for our German friend or Eric Sprott, or someone of wealth and statue in the world and industry. Normally by invitation only months in advance. Very tightly controlled secure operation. Your investment is safe and well guarded. Comments about visiting plants or operations outside in the jungle are revealing.

Now here is someone who may visit Petaquilla our country's largest exporter with important ties and operations in Spain. Maybe our itinerant poster is traveling with them. LOL!!

PANAMA-AMERICA TODAY:
Prince Felipe met today in Panama with President Ricardo Martinelli and the two discussed the situation of the relations of the two countries in order to strengthen the political and economic improve. Martinelli and Panamanian first lady Marta Linares, received the Prince of Asturias and his wife, Letizia, at the entrance of the Presidential Palace of the Herons, in the old quarter of the capital, where they heard the national anthems of both countries before entering the premises where the meeting took place. then the heir to the Spanish Crown Martinelli met, while Princess Letizia did with the president's wife, who told him in detail the program that promotes employment for people with autism. accompanied Philip of Bourbon Spanish Secretary of State for Cooperation and Latin America, Jesus Gracia while with President Martinelli attended by foreign ministers, Romulo Roux, Commerce, Ricardo Quijano, and Economy, Frank De Lima. thanked President Prince legislative reform that facilitates the Spanish settled residence in Panama and offered the assistance of Spain for the Ibero-American Summit to be held next year in this country. Ties between Spain and Panama are particularly close, when it is almost more than a month for the celebration in the Spanish city of Cadiz XXII Latin American Summit, which the Panamanian leader has confirmed his attendance. Panama in 2013 to host the next summit, which coincides with the celebration of the VI International Congress of the Spanish Language and the Fifth Anniversary of the Discovery of the Pacific Ocean by Vasco Nunez de Balboa, a particularly significant event for the Panamanian people. On the economic front, the relationships are becoming more intense and increasing willingness by both parties, as was evident today in the Second Business ICEX Spanish in Panama, which had previously Prince of Asturias inaugurated. It has been discussed in this forum the significant presence of Spanish companies in the country and great opportunities for the future, with the help express the Panamanian government, keen to facilitate them where possible. Following the two meetings, Panama president and first lady hosted a luncheon in honor of the princes of Asturias. The first day of the official visit to Panama princes today includes the presentation of the Copa del Quinto Centenario, a football match between the teams of Spain and Panama that will be held next November 14. then there will be a symbolic ceremony that will start at the commemoration of the fifth anniversary of the discovery of the Pacific Ocean by the Spanish Vasco Nunez de Balboa, the September 25, 1513. shall in the coastal strip, the promenade of the capital, where he opened a watch to mark the countdown to the commemoration of this historic event. The day's agenda is closed with a meeting with the chief of the Spanish colony at the residence of Ambassador of Spain, Jesus Silva.

Martin your fibbing.....LOL!

Read the rules and protocols before posting.

Your average cost is very good considering that we only traded below that for a very short time at very low volume in the last three years. You should be very happy with your investment. I would recommend that you sell now and take your profit on the open market where you can more than double your money. Obviously, you are a very astute investor and timed this perfectly.

There was a link posted a few weeks or days ago to a 54 page legal business guide that explains exactly how all of this plays out. If you read it, plus the EIS of Inmet, the latest NI 43-101's from 2012 of PTQ, the Behre Dolbear LP Report and Molejon update,and the Annual Report of Petaquilla along with the Inmet Cobre Panama project statement, and their 2010 feasibility, engineering, and feed studies you will be in a better position to make your final decision. You might also read our gold and silver facility agreements that are also on SEDAR, since they will greatly impact our near term EPS depending on the bond offering.

Good Luck to you.

Sorry if my response was too sharp, to your question that revealed no DD or understanding of the protocols, Canadian and SEC laws regulating this process. I should show more kindness. Get back to us when you are up to speed and let us know your decision.

Read Item 4.(C), page #13 Conditions of Offer.

C'MON MAN!!! Extremely important!!!

1. This is not a private placement per se. We are selling bonds.

2. Petaquilla would ask that the bonds be rated.

3. Bond rating determines the interest rate that one must pay.

4. On this volume of bonds each rating sub-notch is about $500,000.00 in interest rates one way or another.

5. The fact that they were rated means that they will probably be sold.

6. The included statement in the rating sets markers for an upgrade that will most probably come to pass and makes them even more attractive.

7. Receiving a Caa1 rating at this juncture in our development is HUGE and Inmet's nightmare!!!

8. Lehmann Brothers situation as a financial institution has no relevance whatsoever to our situation.

9. This rating also opens the door for Panamanian Banks to participate.

10. Learn something about the banking industry in Panama. One of the strongest in the world.

Loji, These boards have not a clue!!!

Hit them over the head with a 4X4 of good news and they still do not get the picture. The news is that we are rated!! Plus, as soon as the expansion kicks in and all other factors remain as they are, (POG, etc.) we will be upgraded to a "B" level. This is great news when you judge our short history and relative size of the company. 99% of our peers are not rated at all!!! No doubt they will be able to place these bonds. This is just too exasperating!!!! With two more quarters of earnings on the books and we will be upgraded out of the "C" category into the "B" ranges. GOOD GRIEF!!!

Circular on SEDAR since 9/28/12.

Also on Inmet's web site. You are probably the only PTQ shareholder who has not read it by now. UBS valuation will be out when it is finished. It may be incorporated into the BOD recommendation that must be mailed in accordance with SEC and SEDAR rules. You can check and see when it is coming to you. That will also be posted on both SEDAR and SEC web sites as well as Petaquilla's. Need to do a little DD to see and understand the rules of the game. It is all there, step, by step.

Perhaps Martinelli wants 'arms length' appearance.

Lucy is the "insider's" insider. Twenty years secretary to Martinelli, several years as Secretary to the Presidency. Obviously something is happening at ANAM. Inmet could be in trouble from at least three directions from ANAM. Also they are in trouble with Recouros Metalicos. Remember one pays very little for a concession. I think its like $5.00/yr./hectaria or something like that. PTQ has no problem paying for that from pocket change. You would think that Inmet would understand foreign investment protocol, especially in Panama. They are still advertising for a 'Government Relations Manager'. A small move up in the share price on volume even only $0.10 would be s signal that something is up. A definite sign would be if Martinelli takes a trip out of the country soon.

Something coming behind the curtain.

"The administrator of national environmental authority Anam, Lucía Chandeck, has resigned.

The date of the resignation is not known. Chandeck replaced Javier Arias in December 2010.

A reason for the resignation has not been released."

Lots of things filed on SEDAR

Not true Gabbs.

Anyone who has invested here since around 2000 when I first invested, or even 2006 when I first joined the board, and invested every month, doubling the amount when it was a buying opportunity and the investment that month was an average down purchase is green at this level. Just go back and do the math. This has been a very excellent opportunity to acquire a large share in the new mining sector of Panama. If you really think that Inmet will acquire Petaquilla for, "50 cents a share or so", you really should not be taking risks with your money. Buy a CD or a bond.

There is very little chance of Inmet seizing the company for the amount you stated. More likely we will either at least double our money by the end of the year at worse case, or we will enter into some sort of agreement that will prove even better over the long run. Just as you ridiculed us when we told you to below $0.35 and get as much as you possibly could...you missed the boat entirely...now you are missing it once again. You have no one to blame but yourself...If you are screwed, then look in mirror at the cause. It is not our fault.

You must be the only person on the boards, not even PMC, who believes that Inmet will buy us out at, "50 cents a share or so".

C'MON MAN!!! YOU CANNOT POSSIBLY BELIEVE THAT YOURSELF!!! JUST CRYING IN YOUR SOUP!!

STILL THINKING PTQ WAS AND IT A GREAT LONG TERM INVESTMENT. JUST HOPING THAT IT REMAIN LONG AND NOT JUST A DOUBLE BY DECEMBER.

Loji, I can almost assure you.

It is 100% and 100% in Panama. Nearly all, if not all Panamanians that hold shares in one also hold shares in the other. That is perfectly logical since both should have a great future here. However I think that is at most 25% of the outstanding shares of Petaquilla. Maybe 50-60 million shares. The vast majority would never sell out the company. (Petaquilla). The matter will be settled outside of Panama and of course the shareholder base is much larger for Inmet, whatever impact that might have. While this whole problem is new to the boards, it has existed for several years and well known in Panama by those with serious interests.

Inmet has been before the regulators and courts since 2008 on this matter. Issues were raised then with the other administration, then again in 2010, and now again in 2012 where they totally lost. This may not end prettily, but it will now end before the end of the year. Inmet is close to OBE as they say in the military. Overcome by Events! Petaqulla is on its way to much large production and viability. Imagine the strength of the company in another couple of quarters.

Inmet is five years behind schedule, has anxious partners now, in serious trouble with their major operations in Las Cruces, Andalucia, and the Panamanian government has China standing by with an open check book. They are gambling it all on being able to be successful with this Hostile Takeover. Many here like Jal, are rooting for Inmet because of class envy of Richard and our BOD. They will sell at anything over one dollar just for spite. I am trusting that those with that outlook really have very few shares and are totally insignificant. Sprott and the other institutions can see the future, along with most in Panama. My guess is that Inmet will fail.

Things are getting very ugly, very quickly. Petaquilla really has only the gold and silver facilities hanging over their heads at the moment. Spain can wait a year or two with no problem. Sixty or Seventy million dollars of PP and the gold/silver facilities problem goes away. Expansion of Molejon and the NI 43-101's coming soon for Petaquilla's concessions and our share price will be out of reach for Inmet. With the smaller PP our EPS will climb dramatically.

News was not the point!

The point was that this is published in today's edition of Panama-America. That is not "old news". It is right there in this morning's paper in the Economic section with a nice picture of Jon Tilk. The point is that Panama-America is turning up the heat on Inmet and their chances of getting a new EIS whether they buy PTQ or not is getting more and more difficult in Panama. They are now firmly on the wrong side of the government.

The Chinese are here in the Trump Tower and have a great relationship with Panama no matter who is in power here. Remember their efforts after Panama first received control of the canal, and all of the aid they have given to Panama. They are more than willing to step into the vacuum is Inmet falters, and their government has committed 500 BILLION dollars to investments in copper, gold, and silver assets, particularly in Latin America, over the next ten years. They are a very big elephant and definitely sitting there in the room. Remember Petaquilla is going to ship all their copper concentrate now to Panama City and then by boat to the Chinese smelter. They have more than enough money to take over this project and bring Petaquilla along for the ride because of the cultural ties to Panama. They could make things very interesting.

Once again, just relax and let this play out over the next thirty days or so.

anski100, Apples/oranges, Zacks not evaluation!

UBS is working up an evaluation. Zacks was a six month TARGET PRICE for the shares. It is not an evaluation of the company. If you doubt me, call Steve Rallston, the guy at Zacks who wrote the report. His number is in the Corp. Presentation. Word of caution though. He is not really up to speed. If you recall his original update he stated on page #14 that the vote for the spin-out of PDI had already taken place. This of course was absolutely untrue. When it was called to his attention, he did not issue a correction. Lots of errors in his work.

Right PETA! PANAMA-AMERICA TODAY!!

Prosecute company executives Inmet Mining
02 | 10 | 2012

The company holds the concession for the copper mine in northern Panama.
Prosecute company executives Inmet Mining Jochen Tilk (Bloomberg)
Jose Antonio De Gracia (jose.degracia @ epasa.com) / PANAMA AMERICA
Offers forces lose

Inmet bid 48/100 for each of the 221 million shares held by its subsidiary Petaquilla Minerals in Panama, Petaquilla Gold. That is, $ 114 million for the entire operation of Petaquilla Gold, which compares with the value of gold produced by the mine in a year.

Inmet Mining, which owns the copper mining concession in Panama and has had several setbacks in its projects in Panama and elsewhere, again facing a legal malpractice harmful to the environment.

The confederation Ecologists in Action, through its website, said the Court # 19 and the Office of Environment of Spain concluded the trial of three senior executives of the Las Cruces copper mine, owned by the multinational Inmet Mining, which are: its former CEO, Francois Fleury, director of Mina, William Thomas, and the Director of Environment, Peace Cosmen, for alleged crimes against ongoing damage and the environment.

This comes after the Guadalquivir River Basin (CHG), in Spain, opened a new proceeding against its subsidiary "Cobre las Cruces" for an alleged breach of the authorization for its drainage and reinjection system (RDS) , by which the mine operates the Niebla-Posadas aquifer, reported at the time the Spanish daily El Mundo.

In Panama, Inmet, through its subsidiary Minera Panama, is in the initial phase to exploit a copper mine in the district of Donoso, Colon.

However, the project also had a setback last week when the National Mineral Resources rejected her request for a field of 11,145 hectares for the location of the tailings basins.

The company in the village of San Juan, district of Donoso, designed and conducted studies for areas including 11,145 hectares that were never officially assigned.

These areas were requested by rival Petaquilla Minerals in 2003.

Personal Comment: WATCH OUT MINERA-PANAMA...LUCY CHANDEK IS PUTTING ON HER BOOTS AND COMING TO "STOMP ALL OVER YOU!!!". Just like Nancy Sinatra!! Perhaps we should thank our Advisory Board member Christopher Colon who watches out for us in Spain. Seems they are twisting Inmet's 'junk'. Inmet is much closer to being tossed out of Panama than they realize. PTQ and the Chinese can also mine copper, and they have a smelter too!!

Totally not true again.

1. Korean agreement is very specific and should be read so that it can be understood. It is filed in Panama.

2. This matter is infra-departmental and the President is not taking any calls about final resolution. You do not understand Panamanian laws or protocols.

3. There is no provision in any agreements that would require Korea, Singapore, or FN to add additional funds to buy out PTQ.
Documents are of record.

One should read the publish record, laws in Canada, USA, and Panama to understand what can and is being done by those participating in these matters. It is highly regulated and structured.

More news coming soon,

Saludos

Facts are confused again.

1. Just getting San Juan does not solve Inmet's problem.

2. PTQ is not negotiating a sale of Panama assets. It is a Hostile Takeover.

3. Nowhere in any agreements are there provisions for mediation of any issue! There will never be a mediator.

4. Inmet is barely capitalized for what they need to do for their cap/ex.. They are not able to pay large amounts for anything.

There are many things going on behind the curtain. It is best to just wait, relax, and let the news unfold. The fact that Panama-America is following the story and not the other papers, tells you that the government is on PTQ's side, and that most news will be coming from that paper. Speculation based on zero understanding of the facts on the ground, the Public Record, the Panamanian Laws, etc., just confuses the issue needlessly for many people.

More news will be out by the end of the week.

Saludos,

Peta, I have been wondering a point.

UBS can certainly work up a present value evaluation of our Panama assets and resources. However, how can they place a value on the huge leverage that we have over Inmet with their dire situation of needing lands that we control, and potentially having their EIS rejected and resulting in a shutdown of their project? In would seem to me that this is at least as valuable as our cap/ex and resources. Considering the billions of dollars that stand to be made by Cobre Panama, and the six billion cap/ex they are planning, I assume we would not be interested in selling our company for its stand alone value. Having in our hands the lynch pin to pull down their whole project has to be worth much more than the total of our assets and resources. I do not think they can come up with the kind of cash that it should take to buy their way out of the corner they have put themselves in, but I nice big piece of their pie going forward would make us all friends again!!! err...maybe not so much, but a least tolerable neighbors. 10% of their project has a nice ring.....

That would be a lot of dilution.

I doubt if their stockholders would buy that idea, and I would imagine it would definitely take a vote. Much more logical to JV and allow future earnings to bring benefits. I would not want to be Jon explaining why I was paying 45,000,000 shares for something that I tried to takeover just the previous month for 2,500,000 ShEq.. This will not drag on very long. It will all be over and done before the Super Bowl. Q2 production is the last one before all of our expansion kicks in and we will be long gone if they do not act this quarter.

Inmet does not have the money.

Unless the HT succeeds they will have no reasonable alternative other than to JV with us and give us a nice chunk of the pie going forward. They do not have the cash to pay us anything close to what we will be valued by UBS. For the good of Panama both mines need to move forward and there will be much government pressure to reach some sort of agreement, probably in December.

In the meantime our share price could move up to over $1.50 where Jal and others here have promised to sell and move on. There will be an effort to make the deal as tax efficient as possible for the large shareholders. There is just too much synergism to go any other direction. Once again October will prove to be a very interesting month for us.

Q1 numbers will be filed on the 15th and the evaluation and recommendation will be published ASAP, since the sooner it is out there the greater its effect on potential sellers. No point in holding it back and allowing Inmet free rein. Zack $1.70 does not look too unrealistic now for the end of the year. The rest of us will just settle back, and enjoy being part of the birth of this great new mining sector in Panama. One would have to be groveling for money to sell anything at this point.

Did anyone notice that IMN is down 14% since all of this came to a boil?

Anski100, I have no legal opinion.

However, I am glad that they mailed their offer at $0.48 instead of $0.65 since that gives us a better opportunity to hold onto the company. At $0.65 many who bought shares over the previous four or five months would jump at the offer.

It would seem to me that we just need to sit back for a couple of weeks and see how all of this unfolds. I have heard that there is more bad news in the pipeline for Inmet concerning their concessions, and a lot of good news regarding progress with our expansion. There seems to be various ways that the company can block the offer" (1) Issuing "rights", (2) Spinning out PDI, (3) going forward with the PP or other debt/equity matters. The evaluation work of UBS should also be published I would imagine and be included in the formal company recommendation to Inmet's offer.

There have been rumors that ANAM is about to drop the other foot on Minera-Panama concerning some work that has been done too soon, and also with the new published resolution invalidating certain specifics from the EIS, could result in the whole EIS be placed in jeopardy. If Inmet has gotten themselves on the wrong side of the government because of their criticism and attacks, the could be in real trouble in Panama, the least of their worries Petaquilla.

The underlying principle to remember is that for the benefit of all three parties, government, Petaquilla, and Minera-Panama, this needs to be worked out. There is too much money involved for all parties, to let this drag out very long. I am sure by the end of the year we will know exactly what is going to happen. The one place I disagree with PETA, is that he feels the company is for sale at $2.00/share. I do not think that is true. We could have sold it to Inmet for $2.50/share a long time ago, when we were much weaker as a company.

Good time to take a vacation for a couple of weeks and let things sort themselves out. A lot of speculation is just that.

Saludos,

Don't worry fellows...It's in the mail!!

Neither Inmet nor MPSA has received notice from PGSA or PTQ advising that either such party has or is asserting any
rights to a “Gold Deposit” under the Molejón Agreement.

One for Lata and about three more coming!! "Dear Inmet, we might as well dig up all your concessions, before we use a single one of our deposits."

MUSHROOM ALERT! READ 32-36 CIRCULAR ON INMET'S SITE.

Now you will be all up-to-date!!

anski100, I'm not aware of any.

I don't think that canvassing and identifying potential stockholders that would tender their shares would be the same as pre-bid purchases. I am not an expert by any means on Canadian laws and found your link very informative. Those whom I have spoken with who are close to Inmet tell me that they are very confident with their approach. It is their understanding that Petaquilla is not interested in selling the company to them and wants to spin out PDI as has been planned for a long time.

Our BOD and team feels that we have made it over the last hurdle and with the expansion coming on line in November we will never look back. For many of the reasons that have been discussed here lately this is totally unacceptable to Inmet. All I hear from my friends at Inmet is confidence. If they are wrong they will fall hard. However, the lack of a drop in their share price seems to buttress their position. The lack of further acceleration of our share price and in fact some drifting at low volumes does not bode well.

This will all be fought out in Canada, a long way from Panama where we continue with normal operations. MIPSA and Molejon people live in the same towns, and eat together in the same places. All wonder just what the hell is going on in Canada.
The legal issues have been settled here. The wheeling and dealing is way up north and we are out of the loop.

I don't know the answer.

All I can tell you is that is what they have been reported to be saying to those who ask. I cannot think of another reason they would go forward with this offer unless they were pretty confident. While they made a mistake with the Panamanian law and have been addressing this issue since 2008 and again in 2010, they are not accustomed to losing or making large errors. They obviously know something and appear to be quite confident that this is the way to go. If they had any hope of reaching a sale agreement with PTQ management they would not have gone forward with this very expensive process. If there was any thought that $0.48 was not sufficient they could easily have raised it today with the mailings and they chose not to do so. It would be a great shame to lose the company so cheaply, but not a great surprise.

Inmet confirms much churning.

At the conference, Inmet's position is that much of the volume has been churning of the same shares and that they have identified large blocks of shares that have been purchased and held for a long period at prices well below their offering. They only require 50.1% and feel that they will have no trouble collecting that many tenders in the allotted time. Many of the shares going back to earlier days were bought below $0.10, some as low as $0.04. They are not concerned with those who bought at the higher levels over the last twenty-four months or so. Most of those who bought at very high levels are long gone.

The big question is whether or not current actual holders will take the recommendation of management and vote "no". They seem to feel that they only need 10-15% more shares than they have accounted for by their survey. If successful, they can squeeze out the smaller shareholders forcing them to take what they are offered.

I would advise you to buy nothing at these levels until you see the evaluation the company will be presenting. Even then this might be a large risk.

FACTS FOR INTERESTED MUSHROOMS!

REPUBLIC OF PANAMA
MINISTRY OF COMMERCE AND INDUSTRIES
MINERAL RESOURCES NATIONAL DIRECTORATE
RESOLUTION Nº 2012-509
September 25, 2012

THE MINERAL RESOURCES NATIONAL DIRECTOR
CONSIDERING:

That the PETAQUILLA MINERALS, S.A. society, through their special representative filed on this 22 day of December of 2003, formal request to be awarded "MINING EXPLORATION CONCESSION (gold and others) y five (5) zones with a total area of 11,145.66 hectares, located in the townships of Cocle del Norte and San Jose del General, district of Donoso, province of Colon and in the Township of El Harino, district of La Pintada, province of Cocle, Republic of Panama, identified with the symbol ARS-EXPL (gold and others) 2003-32.

That after completing the legal formalities to that effect, the Mineral Resources National Directorate, through Resolution Nº 2007-22 of March 1, 2007, resolves "… To declare PETAQUILLA MINERALS, S.A. ELEGIBLE according to the provisions of the Mineral Resources Code, for the exploration of metal minerals (gold and others), in (5) zones with a total area of 11,145.66 hectares, located in the townships of Cocle del Norte and San Jose del General, district of Donoso, province of Colon and in the Township of El Harino, district of La Pintada, province of Cocle, according to maps identified with the numbers 2006-01, 2006-02, 2006-03, 2006-04, 2006-05", which is final and enforceable and not mediated in the terms of article 178 of the Mineral Resources Code, any timely opposition to it.

That through statement filed on the 3rd day of September of 2008, PETAQUILLA MINERALS, S.A. society (currently MINERA PANAMA, S.A.) through their special representative, filed request "… for an immediate denial of any and all requests of temporary or permanent concession, for the exploration and/or extraction of metal and/or nonmetal minerals and about Cerro Petaquilla that affect the zones in which MINERA PETAQUILLA, S.A. (currently MINERA PANAMA, S.A.) has planned for the due development of the Project stipulated in the Contract Law, …".

That through a brief presented on February 3, 2010, PETAQUILLA MINERALS, S.A. society (currently MINERA PANAMA, S.A.) through their special representative, formalized request "…for an immediate denial of any and all requests of temporary or permanent concession, for the exploration and/or extraction of metal and/or nonmetal minerals and on the surrounding of the Area of the Cobre Panama Project in the surrounding of Cerro Petaquilla that affect the zones in which MINERA PETAQUILLA, S.A. (currently MINERA PANAMA, S.A.) has planned for the due development of the Project stipulated in the Contract Law, …".

That the statements filed on September 3, 2008 and February 3, 2010, respectively, represented by MINERA PETAQUILLA, S.A. (currently MINERA PANAMA, S.A.) are nothing more than obvious untimely oppositions to the concession request of PETAQUILLA MINERALS, S.A., since both were filed after over a year of the expiration of the opposition term allowed by article 178 of Mineral Resources Code.

That Article 324 of the Mineral Resources Code provides that "It will be applied as a supplement to the matters covered by this Code if they are not contrary to other laws of the Republic."

In the provided direction, articles 67, 201 numerals 92 and 202 of Book II of Act 38 of July 31, 2000, which establishes the administrative procedure according to articles 481, 507, 517 and 987 of the Judicial Code, require this authority to declare the untimeliness of the opposition initiated by MINERA PETAQUILLA, S.A. (currently MINERA PANAMA, S.A.) through the provision of a mere obedience or resolution of a mere obedience as defined by Act 38 of July 31, 2000; this kind of resolution given its nature doesn't require to be notified to the parties nor accepts any resources so that its enforcement is immediate.

That in fact the Plenary of the Supreme Court, in copious jurisprudence, which we would extract some statements, expressed:

"The Court shares the criteria from the First Superior Court that it is not necessary to notify the advocate, given that the diligence parade is a provision of mere obedience that can't be appealed and for that reason doesn't need to be notified.

……………………………………………………………….The Court has already stated in numerous jurisprudences that, as a general rule, the provisions of mere obedience can't be subject to the action of protection and the current case there is no doubt that falls within the known general rule. "The most immediate reason not to accept the protection action that was filed was that this was aimed against a provision of mere obedience that doesn't accept any type of appeal. The implementation of article 476 of the Judicial Code by the Circuit Judge proves it; also article 697 of the same Code establishes that if the pending incident was manifestly inadmissible the Judge should reject it as a fact without further process. This is what is known as the in limine rejection of incidents. The previous reasoning proves that it is not possible to accept an appeal against a provision of mere obedience, because doing otherwise would distort the nature of it by accepting a means of objection against it and on the other hand, it would provide the opportunity to access an instance already precluded." (The Acts Subject to the Action of Appeal, page. 22 and 23, by Edgardo Molino Mola)." APPEAL OF CONSTITUTION RIGHTS ACTION PRESENTED BY MR. GIONANI E. FLETCHER, REPRESENTING EUDALDO CARABALLO GENERAL, AGAINST THE ORDER IN RESOLUTION OF OCTOBER 7, 1996, ISSUED BY THE FOURHT CIRCUIT DISTRICT ATTORNEY OF COLON. PRESENTING MAGISTRATE: EDGARDO MOLINO MOLA, PANAMA, JULY SECOND (2ND) NINETEEN NINETY SEVEN (1997). "The Superior Court starts accepting that the resolution where the Judging orders the filing of an intestate succession, constitutes a provision of mere obedience with was notified through edict, situation that according to A*quo, gives the nature of ruling, therefore, makes emerge the right to appeal in the concerned parties. Regarding the above, the Plenary notes that what the first instance Court said is not correct, given that if we start from the assumption that actually, the original judicial resolution aimed with an appeal is a provision, even if it would have been processed as a ruling, against it, the filing of any type of appeal will not proceed, given that, article 1126 of the Judicial Code clearly states, in the second paragraph that: "A resolution that must be issued as a provision is not appealable that does not admit appeal, even though it is issued as an appealable resolution", that subject to specific rules that the same norm cited determines." APPEAL OF CONSTITUTION RIGHTS PRESENTED BY MR. CARLOS SUMOSA MARENGO, REPRESENTING GOE G. KARNANI, AGAINST SECOND JUDGE OF CRIMINAL CIRCUIT OF THE FIRST JUDICIAL CIRCUIT, APPEAL. MAGISTRATE: JOSE A. TROYANO. PANAMA, THIRTIETH (30) OCTOBER TWO THOUUSANDS (2000). "The legal process uttered by the Judge limits to deny, because it is extemporaneous, the proofs presented, as for the secretarial report cited, after verifying that it had passed more than a month since the preliminary hearing, on April 19 of 2001, that established a on extendible term of five (5) days of probatory term. The legal basis of the accused procedural action is article 476 of the Judicial Code. This articles states that if the judge estimate that the written is presented on time, will give the corresponding course; otherwise, that is, if the written is considered extemporaneous, will declare so, by decision of mere obedience, in such case the written presented won't have any value. The previous considerations make us conclude that the judicial official limited, as stated by the Judicial Code, to impart the processing performance to that action. That indicates, without doubts that we are before an act purely procedural. The First Superior Tribunal, when issuing the appealed act, has just confirmed what has been the object of numerous jurisprudence by the Full Supreme Court, that against the actions of mere obedience, proceeding or procedural initiative cannot be presented a guarantee for protection (see decisions of May 4, 1994, December 11, 1995, April 25, 1996, July 2, 1997, June 4, 1998, June 12, 1998, July 16, 1998, September 11, 1998, May 31, 2000 and September 20, 2000, among others). The Court has reiterated that such appreciation is based in the definition of the article 974 of the Judicial Code that states that the decisions are resolutions of mere obedience and enforceable instantly, and does not admit any appeal." APPEAL OF CONSTITUTION RIGHTS PRESENTED BY MR. CARLOS HERRERA MORAN, REPRESENTING LIZCA MOSERRAT TRELLES GUILLEN, AGAINST RESOLUTION OF MAY 21, 2001 DICTATED BY THE SECOND JUDICIAL COURT OF THE FIRST JUDICIAL CIRCUIT OF PANAMA, CRIMINAL BRANCH. MAGISTRATE: ADAN ARNULFO ARJONA L. PANAMA, FOURTHEEN (14) OF SEPTEMBER OF TWO THOUSANDS ONE (2001). "The decision states that the legal remedies are contrary to the resolution of mere obedience, as this one does not admit appeal,………….." (Decision of October 30, 2000, Mag. Jose A. Troyano)…………………………………………………………………………………. With respect to this, the alleged order to do, does not has such quality, as it is just a resolution of mere obedience, situation clearly defined by law……" (Decision of August 27, 2004. Magistrate Arturo Hoyos). APPEAL OF CONSTITUTION RIGHTS PRESENTED BY LAW FIRM BERRIOS & BERRIOS REPRESENTING ENRIQUE ANTONIO SANCHEZ MAHONEY AGAINST THE SEVENTH JUDICIAL CIVIL COURT OF THE FIRST JUDICIAL COURT OF PANAMA, ABRIL TWENTY SEVEN (27) OF ABPRIL OF TWO THOUSAND SEVEN (2007). Following this criteria, the Superior Court did not admit the action considering that the recurrent had the possibility of appealing the act by means of reconsideration resource, as the act was a resolution. However, the facts and judicial arguments presented are not sustained by that premise, as we will warn. The Superior Court begins accepting that the resolution when the Judge orders the archive of one intestacy, constitutes a resolution of mere obedience that was notified by edict, situation that according to the A-quo, grants the character of providence, therefore, gives the right to challenge to the interested parties. To this respect, the Full Court states that it is not right what said the first instance court, as if we assume that in fact, the original judicial resolution attacked by means of guarantee for protection is a resolution of mere obedience, even though it was processed as a providence, against this one, does not proceed any type of impugnation, as article 1126 of the Judicial Code clearly states, the in second paragraph that: "It is not challengeable a resolution that shall be dictated by resolution of mere obedience that does not accept resources, even though it is issued as an appealable resolution", that subject to specific rules that the same law states. CONSITUTIONAL GUARANTEE FOR PROTECTION PRESENTED BY LAW FIRM BERRIOS & BERRIOS REPRESENTING MARIA ROSA PITI DE EHRMAN, AGAINST THE SECOND COURT OF THE JUDICIAL CIRCUIT OF VERAGUAS, CIVIL BRANCH. MAGISTRATE: HARRY A. DIAZ – PANAMA, TWENTYFIRST (21) OF JUNE OF TWO THOUSANDS ELEVEN (2011).

In consequence, the undersigned Mineral Resources National Director, using her constitutional and legal rights:

RESOLVE:

FIRST: Declare, as in fact declares extemporaneous and hence without any value, the opposition written presented by the law firm MORGAN & MORGAN, on name and representing MINERA PETQUILLA, S. A. (today MINERA PANAMA, S. A.) the days September 3 , 2008 and February 3, 2010, refereed to that motivates this Resolution.

SECOND: This Resolution has the character of "Mere Obedience" and as such does not admit any recourse.

LEGAL BASIS: Articles 178, 324 and concordant of the Mineral Resources Code. Articles 67, 201 numeral 92 and 202 of Second Book of Law 38 of July 31 of 2000. Articles 481, 507. 509 and 987 of the Judicial Code.

COMPLY.


ENG ZAHADIA BARRERA
Mineral Resources National Director

ZB/MNC

BOTTOM LINE IN SIMPLE TERMS: INMET YOU ARE SCREWED!!! DEAL WITH IT!!! YOU CANNOT APPEAL THIS RULING!!! KISS MY LOYAL PTQ A%#@%!!!!

Thank you redflame for your contributions.

You have far more patience than I for this board's questions and I thank you again for making things simple for others to understand. The BOD will do what they can to block this HT and our 'plan' from 2006 is one of the best. I still feel this will all eventually settle out at some form of amalgamation or JV.

Saludos,

READ THE POISON PILL INFORMATION!

DO YOU NOT UNDERSTAND HOW A "RIGHT" WORKS?? C'MON MAN!! YOU HAVE TO BE ABLE TO READ AND COMPREHEND STANDARD INVESTMENT MATERIAL. PETAQUILLA IS STILL NOT FOR SALE! THAT IS WHAT THIS IS ALL ABOUT. GO BACK TO THE 2006 DOCUMENTS AND READ THEM AGAIN!!

I love all the entertaining chatter.

If it goes to this XXX I am going to sell!!
We should get XXX, no YYY.
We should keep Spain...we should sell Spain too.
I'm going to do this...or I am going to do that...

Folks should realize that you will get exactly what the people who count say you will get, under the conditions that they determine, and you will take it and be quiet. The BOD and Management are acting in good faith and doing exactly what you elected them to do.

If they decide to take $0.50 and some future warrants, or $0.10 and some stock down the road, that will be what happens. If they decide to not sell at all then that will be the deal. They might take $0.15 per share and some stock that must be held four or five years. There are endless combinations. So everyone can just wait and see how much of the pie you will get, and under what circumstances.

Have some more popcorn and sit back to see how this unfolds. You can bet the big dogs are going to take care of themselves. You can bet that Inmet will not pay out a whole lot of money either way until their project is up and running in 2016. They might give you a nickle a quarter until then with a warrant or cash payment in 2016-2018. All those things have been discussed. They 'who-are-to-be-obeyed' will decide.

REMEMBER INMET DOES NOT HAVE ENOUGH MONEY TO BUY/PAY ALL THOSE "RIGHTS" UNDER THE POISON PILL!! THAT IS WHY WE PUT IT TOGETHER TO BEGIN WITH. NOW WE CAN MOVE INSTANTLY.

Patience and health was the best advice given today.

Saludos,

Yes, they can do whatever the want...

as fast as they want, however they want, in an instant. I am thinking that they did not have confidence in all those who would sell us out for a quick 200-300% profit without consideration of the real potential of the company. I have no idea just what they plan to do, but now they are flexible to do almost as they please.

No one will be in a position to mount any kind of a challenge. I believe that they still cannot tier payments depending on various criteria. However, they can close a deal on a moments notice. If you are going to negotiate you sure don't want to have to go back to the unwashed masses that are generally ignorant and greedy to get approval while you have the company stolen out from under you.

Someone who is expert on Canadian law should weigh in with a specific explanation. I trust management and Richard to look out for our interests.

I have a friend, who does not have a dog in this fight, meeting with Inmet's people tomorrow to get an understanding of their intentions, and what they want from PTQ.

Clear the decks! Battle Stations!!

The BOD just decided to do what they want, when they want, and how they want! Now if we just knew exactly what they want we would know what the the impact would be. This is coming to a head very very fast!!! So much for analysis, evaluation, or consultations!! GAME ON!! Obviously, they have had enough BS and are moving now.

SHAREHOLDERS ARE NOW OUT OF THE LOOP. THIS IS IN BOD AND MANAGEMENT HANDS.

Stockwatch: 2012-09-27 15:51 PTQ 0.57
In the News
Taylor refreshes buy of Petaquilla Minerals

WOW! A whole $19,000.00 traded today on PTQMF!!! Seems like the boys are just a little behind the curve. A little more than that on T.PTQ up north: $1,725,000.00. I guess that says a lot about relative significance.

Can't argue with that success, 6 bagger!

$3.00 would be a seventy-five bagger,(75 bagger), from all those shares bought for $0.04 in the fourth quarter of 2001! Plus we already got the money from the first copper spin out. $4.00 though would be a 100 bagger! WHOOT!! WHOOT!! That is a $1,000,000.00 return for every $10,000.00 invested and held for twelve years. Yep!! Dollar averaging is the only way to go!!! $10.00/share in a couple of more years as Loji is looking for today would be a two-hundred-fifty,(250 bagger!!)bagger. Or it's actually a $2,490,000.00 gain on each and every $10,000.00 investment in about 15 years!! That was about the price of a small car in 2001.

Oh Yeah! I forgot you guys are short term traders and weren't interested back in 2001 when all us Banana Republic guys saw the future!!! ROFLMAO!!!!!!

Only decision is truck or ship the money to the bank, as we laugh all day long. LIFE IS GOOD!!!!

Stupid post of the day!!!!!

When PTQ starts getting revs from Inmet concession ore then I'll say it got done and not before.

ALL 100% OF REVENUE PETAQUILLA HAS GOTTEN TO DATE HAS COME FROM INMET'S CONCESSIONS. MOLEJON ITSELF IS BUILT ON INMET'S CONCESSION PETAQUILLA HAS NEVER, EVER, EVER, PROCESSED ONE OUNCE OF GOLD FROM A PETAQUILLA CONCESSION!!!!! LOOK AT THE DAMN I-BOX. IF YOU CAN'T READ, AT LEAST YOU CAN SEE IN THE PICTURE EXACTLY WHERE ALL OF THE ORE HAS COME FROM TO THIS DAY. INMET'S CONCESSIONS!!!!! This is absolutely pathetic I guess we should just feel sorry for this fellow, he just is not all there.

Certainly your right to sell.

I strongly think it is a poor decision. I am confident at things unfold that most who have large holdings and tax consequences will probably keep what would be certain return over time. I wish you luck and hope your diversity strategy, combined with taking quick profits works out for you. If this unfolds as it may with a thirty year JV with Inmet, Petaquilla stock will soar much higher than a ten bagger over time and no taxes will be involved.

I personally have a distaste for diversity as I have found while it limits risk, it limits reward. I guess it is that old concept of 'put all your eggs in one basket, and then hold the basket'! The one thing I have told Richard is that he should never have let more than 50% of the stock get out of his hands, and into the general public. It of course takes many more years to grow without letting that happen.

I am sure the company is "Not For Sale!" and I think enough people with a long view will stop the HT and we will see a JV. In the meantime all the commotion may drive the stock to a level you can sell yours and walk away with your money.

Good Luck.

LOJI, notice board's sentiment this morning.

Maybe we can get two or three dollars a share!!! OMG let's sell
quickly!!! I'm going to make $500.00!!!!! What bunch of friggin' idiots!!

Petaquilla does not have to undertake consideration of total development and takeover of Cobre Panama. Not that it could not be done, because it definitely is within the competence of our team, but it would set back the project five to ten years at least. That is not good for any interested party. If the HT fails, and that is a big if with the sentiment of many of our stockholders, there will be some sort or a JV between us to advance the development of the mining sector in Panama and all will kiss and make up singing, "I Want To Buy The World A Coke!" on the side of Cerro Petaquilla!!

Then everyone declares victory, everybody but Jal, Goldpet, and PMC loves Richard Fifer, Jon Tilk gets a raise, and CD carries the election by 25%!!!! The screen fades with the fat viking singing "Get Cash Now!!"

Loji, does this make my point?

jalbiglog1 Member Profile jalbiglog1

Thursday, September 27, 2012 9:33:22 AM
Re: Lojiko post# 17289
Post # of 17292
How are you coming to the conclusion that Inmet loses their ore deposits to us?

Inmet: The horse is gone!!

LOL!! Inmet has just posted a new position...seems they need someone to handle their problems with the government!! LOVE IT!!!

http://www.infomine.com/careers/jobs/job836216/government.relations.manager.aspx