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This upcoming announcement may effect the POG....not for the better
Background
The programme known as Quantitative Easing is due to be halted at the end of October, coinciding with the next meeting of the Federal Open Market Committee which is scheduled for 28/29 October 2014. Monetary policy plays a big role in gold’s fortunes and so the strategies put in place by the central banks around the world need to be watched very carefully.
The Federal Reserve
St Louis Fed President James Bullard has suggested that tapering could be put on pause as inflation is not running as high as expected. However, he is only one member of the committee and we would expect the Fed to stay the course and end QE, it could then re-evaluate the situation with the data coming through towards the end of the year. The Fed has often said that their strategy is data driven and so far the jobs numbers, for instance, have achieved an acceptable level in their eyes.
However inflation has not achieved the Feds target and the fear of deflation casts a dark shadow over the economy in the United States and across the world. The Fed has also stated that it will raise interest rates and it’s a question of when and not if; mid 2015 has been touted by some for the first increase. The problem arises when the economy falters, unemployment rises and inflation turns into deflation.
In the absence of a major event we would anticipate that the Fed will go ahead and end QE and will also talk in hushed words about the timing of an interest rate increase.
Gold
The end of QE and the talk of an interest rate rise will be supportive of the US dollar and inversely will put downward pressure on gold prices. This is just one factor that deserves consideration when trying to assess gold’s future movements. There are also a lot of other factors that go into this melting pot such as the slowing of the economies in Europe and what action Mario Draghi may take, the effect of the trade sanctions with Russia, the unrest in the Ukraine, the growing strength of ISIS, supply and demand, governmental restrictions on gold imports, etc.
The price of oil must also be kept in focus as it has fallen 20% in the last three months; which usually helps to curtail inflation and thus gold tends to trade lower.
Conclusion
Those of us who lived through the inflationary times of the late 70s and early 80s will remember just how high interest rates had to go before inflation was curbed. The base rate back then was around the 19% level prior to putting an end to gold’s historic rally.
So the point is that if and when the Fed decides to take action on interest rates then gold, silver and the associated mining stocks will take a tumble.
The Fed constantly reminds us that they are data driven and should the data turn soft then we could see the re-introduction of QE. This would indeed be the turning point that we have been waiting for and the catalyst, that just isn’t there at the moment, to ignite gold prices. Once we are sure that this sort of action is on the cards then we will hit the acquisition trail with some gusto. Until then we will continue to hold cash and trade to the short side.
It is important in these times not to be a ‘perma’ anything but to remain flexible and be able to trade in either direction at any given time.
In terms of timing; the summer doldrums have not been followed by a ‘fall’ boom for precious metals which in turn has caused more suffering for the mining sector. The Gold Bugs Index; the HUI has been a horror show losing 2/3rds of its value in the last 3 years as the chart below shows:
The HUI currently stands at 182 which is only 32 points above the low of 2008. Is it conceivable that the HUI could lose another 17% of its value? Absolutely and for those who have the cash this move down will present fantastic buying opportunities.
There are times to be fully invested and times to exercise a little caution. Right now we are not prepared to adopt a cavalier approach to investment in the precious metals or their associated producers as they have produced numerous of false dawns over the last few years and so we remain wary of them.
The next few days may give us an insight what the Fed have in store for us by way of monetary policy, which is in our view is the single most important element for gold bugs to watch.
Got a comment, fire it in, especially if you disagree, the more opinions that we have, the more we share, the more enlightened we become and hopefully the more profitable our trades will be.
Go gently.
Disclaimer: www.goldprices.biz makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents our views and replicates trades that we are making but nothing more than that. Always consult your registered adviser to assist you with your investments. We accept no liability for any loss arising from the use of the data contained on this letter. Options contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. Past performance is neither a guide nor guarantee of future success.
Read more at http://www.stockhouse.com/opinion/independent-reports/2014/10/28/the-end-qantitative-easing-and-price-gold#6ir6MrKokhh8GcSR.99
DIJI......you have been quiet for a while. Do you have anything to offer other than what we read in La Prensa / La Estrella. Do you have any info about the alleged financing that seems to be bogus at this point.
What are your thoughts about PTQ still not paying the hard workers at the site. They must have had more pressing debt after they revived the funds from FQ as compared to paying the workers. Or perhaps, this is the way this Company treats their workers. They apparently give all this money to the community as a good will gesture, but in turn screw the workers who live in those same communities !!!!!!!!!!!
It seems to me that this company will not rise from the ashes. I realize that I am very negative but it is with supporting evidence to support my views.....year after year after year.
It is evident from all the articles, there is no money nor any new funds coming in. Even the retard from PTQ is quoted as saying they are facing a difficult situation. That says it all.
Just end this already for F sakes.
DEADBEATS
Didn't that donkey from PTQ say in the last article the money was paid. Now the property has been seized.
This is a very reputable company.
Good nite
27/10/2014 - SANTA ANA, GRAFFITI, Cocle. - The Ministry of Labor and Workforce Development (Mitradel) intervened Monday to Minera Petaquilla Gold, ordering a seizure of property, so that the fulfillment of the rights of workers to have about 600, half of which closed again the road to La Pintada.
From early in the morning and more than eight hours workers closed the road and prevented the passage of vehicles, all in demand for the company to comply with the payment of two fortnights backward and cancellation of their settlements.
According to workers, the company owes them for services rendered, salaries and settlements over $ 3 million.
After the intervention of Mitradel give a deadline agreed on Wednesday to pay what they owed.
Eric De Leon, a spokesman for the workers of the company Petaquilla Gold, said that for months have faced the same situation of late payments and settlements or mutual agreements are met no reason why they are forced to take to the streets to their problems are resolved.
After announcing its arrival since morning, it was not until 1:00 pm that arrived Labor Minister Luis Ernesto Carles, accompanied by officials of the executing court, and the national leadership working for an assurance goods and proceed with a dialogue between employers and employees.
According to the Minister, acting under the provisions of the law and to guard the rights of workers, an agreement between union representatives and the company was signed on Wednesday October 29 is paid in the first half and another 31 on Friday fortnight.
One securing property that are in the business was conducted, an action that made the court clerk, a process that takes another instance in Mitradel, Carles, while said his presence was to ensure payment to the workers said.
Petaquilla Gold says it has despite setbacks and delays some payments have never ceased to take responsibility and has always paid its employees, even with "the difficult situation they face."
According auditoríarealizada by Mitradel, the company must pay about 603 employees their back wages, benefits and settlements.
Anybody look at this POS today. Down over thirty five percent on the TSX. I told you they pumped it with a bogus PR to inflate the SP. Some people would call this a fraud. Then down down down again.
How do you go from .04 to .12 then all the way back down....simply amazing.
New all time low by the end of the week.
Let's face it, there is nothing in the fryer with these guys.......absolutely nothing.
This latest PR about the extension is just pushing the inevitable forward.
Great job PTQ...keep up the great work....bozos
Does this POS EVER have ANY good news articles. It's the same bull shit day after day with PTQ. The issue with not paying the employees is never ending and has been going on for quite some time. How do they expect to secure workers in the future IF they ever become operational again. Would you work for a bunch of fraudsters if you knew you weren't going to get paid ???? That's what I thought !
Hey VB, where is your buddy.....is he still loading up, or is he having lunch on the beach with Richard ?
Do you remember when certain people around here explicitly stated that we didn't owe our employees anything and the reason for the road blocks was for other non related issues???
Sorry to tell you that I don't believe the rep from PTQ when he states that the debt has been paid. He is just trying to do damage control AGAIN because the company was once again caught with their pants down. Absolutely disgusting....all of them.
With friends like him, who needs enemies.
Does anyone have any intell about this financing deal ???
Digi.....what the hell is going on ????
Does the delay in the books mean a delay with the alleged financing ???
I know a left a few million dollars around here. ...has anyone seen it? Richard, could you please check your pockets......
So basically in a nut shell, there will be no further developments and or news until the end of 2014, if they are lucky. Something fishy is going on with the funds coming in. If the funds aren't here yet, then I think it is safe to say they are not coming anytime soon, if at all.
If we don't secure these funds it will be time to close the doors.
Like I said before, someone made some good money when the news was released about the financing. It crept up to around 12 and now look where we are. Heading back down into the trenches. Same old same old.
Is there even any heap leaching going on right now ??????
Heres the funny thing about that author.....He's not even one of the guys that really, really, really dislikes Richard ! Ha.
Holy shit.......but I bet their pay checks come in on time. These guys are truly a bunch of clowns. With all the delays over the years, how do they find the time to mine.....oh yeah, thats right...THEY DONT MINE !
I would have believed them more if they just would have said that their dog ate the documents.
Well its going to be another buying opportunity yet again.
May 12 PR.......it is now the end of Oct.
Concurrently, Petaquilla will position itself for future growth in the Iberian Peninsula by focusing on mineral resource expansion and development of its Iberian properties, positioning them to generate cash flow in the shortest order possible. In Portugal, Petaquilla has completed approximately 12,000 metres of drilling at its Jales-Gralheira project and will soon engage an independent consultant to prepare a NI 43-101 compliant resource estimate, expected to be complete three months from commencement. The Company is also working towards a NI 43-101 compliant resource estimate at its Banjas project having completed a drill program of approximately 9,300 metres. The Company will target production in Spain and Portugal in the early part of next year.
WHERE ARE THE NI 43 101 's for this concession ?????????????
D day plus 19 days and counting.
You are right about that VB....they did screw it up. But here's the kicker, why didn't PTQ tell any of the shareholders about what had happened at the time. Why did we have to hear about it elsewhere ??? As MJ always said "it's in the public record". That's great, but if you say something in a PR hoping for something to happen and it doesn't, put out another PR explaining WTF happened......it's not difficult !!!!!!
They should have kept their mouths shut until they secured some type of financing, THEN tell the shareholders it is complete in a PR. They always put the cart before the horse and then they look like donkeys when it falls through, which is all the time.
Reminder....it is Now Oct 16 and the PR was put out two weeks ago. So much for a few days !!!!!!!!!
And don't get me wrong, I know that these things take time but then why do they consistently give these ridiculous time lines ????? I guess they like egg on their face?
Par for the course my friend.
I already had my opinion in a prior post about these funds. Let's face it, these guys are absolutely positively disgraceful about giving out info. If the funding fails, you probably won't hear anything about it......just like red kite. That was swept under the carpet. The SP is now slowly retracting because as the days go on, people are doubting this transaction.
OR.......they will announce it at the end of the month when the numbers are released. Good news to wash out bad ?????
It would appear that the world is imploding in regards to the TSX and the DOW. If this persists one would think that people will return to the safe haven of gold.. There is a lot of doom and gloom on the horizon which can only help the POG escalate.
Well DIGI...what are your thoughts about what the internet has divulged in regards to where our funds are allegedly coming from.......are you personally familiar with these guys coming on board and the investment company they are attached too ?
And yes, I do take what is on the internet with a grain of salt, however it is a valuable resource.
Thank you in advance
This truly does not look promising what so ever. I truly wonder if PTQ knows what the hell they are doing.
Google imppetrol investment S.A......nothing exists other than the most recent articles as it pertains to PTQ. Isn't that strange ????
And what is the date today because the PR dated Oct 1 stated that that the bridge financing was to close in a few days....not a few weeks.
If this falls through, someone made out well on the share price before it tumbles.......just saying.
Jail, this is what I don't get when it comes to LP. We had it, then apparently we lost it according to the media. Putting that aside as previously discussed we still have it according to PTQs webpage. So, in regards to the funds we secured as it pertains to the amount of gold we are supposed to mine, Spain had to have come up. If we don't have Spain, where are we going to get 300 000 in three years ? If Spain is still ours, it had to have come up when the lenders did their DD right ??? Would you as a lender give them money if you knew one of the concessions that potentially had mineable gold was " iffy ?"
Do we even need Spain or do they have something else up their sleeves ??????????????
That's great Digi in regards to the final word coming from the courts, but the point is the "ordinary shareholder" has no idea what is transporting in regards to LP. The rights to this concession have been all over the map for some time with no clear cut answer. We had it one day, lost it another, and now we are in court over it. What a debacle don't you think ??????
At least you know what's going on because the rest of us are in the dark and obtain our info through the media because we have no other outlet to obtain it at this point. Does PTQ not think it is of any relevance to advise the shareholders ??????
Par for the course my friend....par for the course. I would like to say I am surprised by their actions, but I am more frustrated then surprised.
How about this one from their website which is still up.....but what I don't understand is that the guys that recently loaned the money were obviously privy to this info......unlike the rest of us shmucks.
Spain
Lomero-Poyatos
Petaquilla Minerals Ltd. added the Lomero-Poyatos Project to its holdings through its acquisition of Iberian Resources Corp. in 2011. The Lomero-Poyatos massive sulphide deposit is located in the prolific Iberian Pyrite Belt, which has a long history of mining dating back to Roman times and features several mines currently in operation. The project is located in the Andalusia autonomous community in southern Spain, about 500 kilometres southwest of Madrid, 85 kilometres northwest of Seville and 60 kilometres northeast of Huelva. The area surrounding the project features very good infrastructure and logistics with grid power, sealed roads and a deep water port at Huelva.
The concession of Lomero-Poyatos at present is in full effect. Administrative initiatives taken by the Directorate of Mineral Resources of Andalusia are in the process of review to determine their merit. This initial review is also subject to appeal.
NI 43-101-compliant Inferred Mineral Resource report by Behre Dolbear in May 2012 (*)
The Lomero-Poyatos mine historically produced approximately 2.6 Mt of pyrite ore, mostly by underground mining methods, for use as sulphuric acid feedstock. It has been closed for over 20 years.
Lomero-Poyatos project highlights:
Resource
Lomero-Poyatos property has an Inferred Mineral Resource of 6.07 Mt at 4.25 g/t Au, 88.74 g/t Ag, as per May 2012 NI 43-101 compliant Technical Report(*)
PTQ has completed over 6,000 meters of drilling to update the currently inferred resources to measured and indicated resources and then advance to reserves level. This drilling was done for geotechnical purposes, metallurgy, in fill drilling, twinning and resource expansion.
Twin drilling program completed in February 2013 with a view to upgrading resources to the Measured & Indicated category in FY 2015 and, subsequently, a NI 43-101-compliant feasibility study
(*) 1.17M Au equivalent oz. as per NI 43-101 Technical Report on the Lomero-Poyatos Au-Cu-Pb-Zn Mine dated May 21, 2012, by independent consultants, Behre Dolbear International Limited. Disclosure approved by Andrew J. Ramcharan P.Eng., the Company's Executive VP Corporate Development, a Qualified Person as defined under NI 43-101.
Admit to it....are you kidding me. The lies with this Company never stop. Read the second to last paragraph at the end.
Vancouver, BC - May 12, 2014: Further to its news release of May 8, 2014, Petaquilla Minerals Ltd. (“Petaquilla” or the “Company”) announces that its commercial agreement with Minera Panama, S.A., a subsidiary of First Quantum Minerals Ltd., both formalizes their commitment to the economic and social development of the Petaquilla mining district in Panama and provides the Company important capitalization to advance its growth strategy.
The US$60 million derived from the agreement allows the Company to completely address its senior credit facility, effectively eliminating its secured debt and precious metal and loan obligations, and strengthens the Company’s balance sheet by reducing short term liabilities.
This recapitalization has also enabled the Company to restructure and to focus on future growth. In Panama, Petaquilla is focused on increasing gold production through plant and leaching operations at its Molejon gold mine to 4,000 gold ounces per month within the next 90 days. The Company has sufficient reserves at its Molejon gold deposit to continue production at that rate for a further five years. In addition, 152,000 gold ounces slated for leaching are presently stockpiled at Molejon.
Concurrently, Petaquilla will position itself for future growth in the Iberian Peninsula by focusing on mineral resource expansion and development of its Iberian properties, positioning them to generate cash flow in the shortest order possible. In Portugal, Petaquilla has completed approximately 12,000 metres of drilling at its Jales-Gralheira project and will soon engage an independent consultant to prepare a NI 43-101 compliant resource estimate, expected to be complete three months from commencement. The Company is also working towards a NI 43-101 compliant resource estimate at its Banjas project having completed a drill program of approximately 9,300 metres. The Company will target production in Spain and Portugal in the early part of next year.
The Company is undertaking a comprehensive production review and will provide further production guidance for its 2015 fiscal year within the next 10 days.
Trust is a powerful word and currently, that does not exist. Not while a pirate is at the helm of the ship. For now, at least other outside parties are coming on board and have their hands in the mix to oversee their own interests. It's the only way they won't get raped by this predator.
I wonder how much it costs to hire SEAL Team 6 ????
Actually there have been a lot, and I mean a lot of shares traded on the TSX.
How the hell are they ever going to repay 300 000 oz !!!! We have never done that is our existence so what makes them think they can do it now. More smoke and mirrors in my opinion. Didn't we produce like 300 oz last year..........or am I being generous...HA !
Thanks JFF
VANCOUVER, BRITISH COLUMBIA, Oct 01, 2014 (Marketwired via COMTEX) -- Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") (PTQ) PTQMF, +5.00% (frankfurt:P7Z) announces that it has arranged a bridge loan of US$18 million (the "Bridge Loan"), which is expected to close within the next few days, to provide funding for general corporate and working capital purposes. The Bridge Loan represents interim financing to support the operations of the Company and shall be repayable by the Company one year from the closing date.
Pursuant to an executed Term Sheet, this Bridge Loan is to form part of a larger financing (the "Financing") totaling US$60 million to be disbursed over a period of one year and linked to a gold purchase and sales agreement (the "Gold Agreement") with Imppetrol Investment S.A. ("Imppetrol") as the buyer of 300,000 gold ounces, which the Company shall deliver over a period of three years commencing January 2015 at a price per ounce set at the London Bullion Market Association (LBMA) gold a.m. price fix on the day of sale less a discount of ten per cent (10%). The Bridge Loan shall be rolled into the Financing, which shall bear an interest rate at the 1-Year London Interbank Offered Rate (LIBOR) plus two per cent (2%), and mature three years from closing.
In connection with the Financing, Felix Salas, President of Power Blue, LLC, an affiliate of Imppetrol, and Jose Miranda, Chief Executive Officer of Imppetrol, will join Petaquilla's Advisory Board to its Board of Directors. In addition, Pascual Montanes, who presently serves as President of Iberian Resources Corp. and as Chief Executive Officer of Corporacion Recursos Iberia S.A.U., both subsidiaries of the Company, will join the Company's Board of Directors replacing Raul Ferrer.
On other matters, Petaquilla advises that it has changed its financial year-end from June 30 to July 31. As a result of this change, the Company will have a transitional 13-month financial year ending July 31, 2014. The change in the financial year end results from a longer than expected completion of an agreement executed by the Company in May 2014. The timing of various transactions forming components of the agreement, mainly associated with the public registration of asset ownership transfers in Panama, led to delays in accounting for the subject sale and corresponding delays with respect to the receipt of funds pursuant to the agreement. These delays have had the effect of deferring works related to the Company's year end audit.
Further details regarding the change in financial year end, including the Company's interim reporting periods, are available in the Company's Notice of Change of Financial Year End prepared in accordance with Section 4.8 of National Instrument 51-012 and filed on SEDAR at www.sedar.com.
About Petaquilla Minerals Ltd. Petaquilla is a growing, diversified gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates a surface gold processing plant at its Molejon Gold Project, located in the south central area of Panama. In addition, the Company has exploration operations at its wholly-owned Lomero-Poyatos project located in the northeast part of the Spanish/Portuguese (Iberian) Pyrite Belt and several other exploration licenses in Iberia.
Disclaimer. Certain statements in this press release constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might", "will" or "are projected to" be taken or achieved) are not statements of historical fact, but are forward-looking statements. Forward-looking statements relate to, among other things, the estimation of mineral resources and the realization of mineral resource estimates; all aspects of the development and future operation and production of the Molejon gold mine and the development of other deposits; the outcome and timing of decisions with respect to whether and how to proceed with such development and production; the timing and outcome of any such development and production; estimates of future capital expenditures; estimates of permitting time lines; statements and information regarding future feasibility studies and their results; production forecasts; future transactions; future metal prices; the ability to achieve additional growth; future production costs; future financial performance, including the ability to increase cash flow and profits; future financing requirements; and mine development plans.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of the Company contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein as well as: there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions, political change, protests by native or environmental groups, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at the Molejon gold mine and other deposits being consistent with the Company's current expectations; prices for gold and silver and costs of labour and supplies being consistent with expectations; and the accuracy of the Company's current mineral reserve and mineral resource estimates. A variety of inherent risks, uncertainties and other factors, many of which are beyond the Company's control and may be known or unknown, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include fluctuations in the price of gold and silver; the need to recalculate estimates of resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; the availability of qualified personnel; the Company's ability to obtain and maintain all necessary regulatory approvals and licenses; the Company's ability to use cyanide in its mining operations; risks generally associated with mineral exploration and development, including the Company's ability to develop its deposits; the Company's ability to acquire and develop mineral properties and to successfully integrate such acquisitions; the Company's ability to obtain financing when required on terms that are acceptable to the Company; challenges to the Company's interests in its property and mineral rights; and current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in the countries in which the Company operates; and general economic conditions worldwide.
Forward-looking statements speak only as at the date of this document. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements.
On behalf of the Board of Directors of
PETAQUILLA MINERALS LTD.
Richard Fifer C.
Executive Chairman
NO STOCK EXCHANGE HAS APPROVED OR DISAPPROVED
THE INFORMATION CONTAINED HEREIN.
Contacts:
Petaquilla Minerals Ltd.
Phone: (604) 694-0021 Fax: (604) 694-0063
Toll free: 1-877-694-0021
www.petaquilla.com
Check SEDAR
Guess I was wrong again....well, I would have been right until they changed it on us.....again !
PETAQUILLA MINERALS LTD.
Suite 1230, 777 Hornby Street
Vancouver, BC Canada V6Z 1S4
September 22, 2014
NOTICE
(a) Notice is hereby given, in accordance with Section 4.8 of National Instrument 51-102, that
Petaquilla Minerals Ltd. (the “Company”) intends to change its year end from June 30 to July 31;
(b) The change of the financial year end from June 30 to July 31 results from longer than expected
completion of an agreement executed by the Company in May 2014. The timing of various
transactions forming components of the agreement, mainly associated with the public registration
of asset ownership transfers in Panama, led to delays in accounting for the subject sale and
corresponding delays with respect to the receipt of funds pursuant to the agreement. These
various delays have had the effect of deferring works related to the Company’s year end audit.
(c) the Company's old financial year end was June 30;
(d) the Company's new financial year end is July 31;
(e) the length and ending date of the periods, including the comparative periods, of each interim
financial report and the annual financial statements to be filed for the Company’s transition year
and its new financial year are as follows:
Transition
Year
Comparative
Annual
Financial
Statements to
Transition
Year
New
Financial
Year
Comparative
Annual
Financial
Statements to
New
Financial
Year
Interim
Periods for
Transition
Year
Comparative
Interim
Periods to
Interim
Periods in
Transition
Year
Interim
Periods for
New
Financial
Year
Comparative
Interim
Periods to
Interim
Periods in
New
Financial
Year
13 months
audited
annual
financial
statements
for year
ended
07/31/2014
13 months
audited
annual
financial
statements
for year
ended
06/30/2013
12 months
ended
07/31/2015
13 months
ended
07/31/2014
3 months
ended
09/30/2013
3 and 6
months
ended
12/31/2013
3 and 9
months
ended
03/31/2014
3 months
ended
08/31/2012
3 and 6
months
ended
11/30/2012
3 and 9
months
ended
02/28/2013
3 months
ended
10/31/2014
3 and 6
months
ended
01/31/2015
3 and 9
months
ended
04/30/2015
12 months
audited
annual
financial
statements
for year
ended
07/31/2015
3 months
ended
09/30/2013
3 and 6
months
ended
12/31/2013
3 and 9
months
ended
03/31/2014
13 months
audited
annual
financial
statements
for year
ended
07/31/2014
(f) the filing deadlines, prescribed under sections 4.2 and 4.4 of National Instrument 51-102, for the
annual financial statements and interim financial reports for the Company’s transition year are as
follows:
(i) The filing deadline for the Company’s annual audited financial statements for the 13-
month period ended July 31, 2014, is October 29, 2014; and
(ii) Interim financial reports must be filed on or before the 45th day after the end of the
interim period.
PETAQUILLA MINERALS LTD.
Per: “Ezequiel Sirotinsky”
Ezequiel Sirotinsky,
Chief Financial Officer
The trading patterns for this stock are more than confusing. I'm referring solely to the TSX. Some days people are spending literally a few hundred dollars and other days, hundreds of thousands of shares. It doesn't make sense with a non functioning mine that owes a shit load of money. People buying at these levels are just hoping that they aren't going out of business and should subsequently make a few bucks if it goes the other way
We should be getting a PR sometime this week, if not, then next week.
Petaquilla es Panama !!!!! What a bunch of BS.
That is what we have known all along....wouldn't you ? If you had morals, values etc you wouldn't keep drawing a pay check, but look who we have. Dude, he is paying himself before anyone else so what does that tell you. There is almost no value in this POS, yet he is taken care of very well. He should be a politician.
This is truly a sad state of affairs JFF. I hope karma creeps up on that fool. Better yet send him to Syria !
I don't think the financing will be a reality with the dufous in control......using the word control is an oxymoron because he has no control. Who is going to give this pirate another dime....LOOK what he has accomplished! or shall I say what he has destroyed.
Last one who leaves, please make sure the lights are turned off.
Just wait until the numbers come out soon with a follow up PR "explaining" this debacle. WTF is going on with HL ???? I am even going to got out on a limb and say the numbers will not be filed on time. They probably couldn't afford the bill for the accounting firm.
Not me, I'm what you call a bag holder with lots in it.......my fault, no one else's. Prepare for a rougher ride, if that's even possible with the numbers coming out, no production, POG tanking, huge outstanding debt load, nothing new on the horizon, no loans, no financing, no H/L results probably because there is zero going on at the mine, no drill results issues, still paying employees from past work completed, next to no workforce, ...we sold a lot of assets for a song....and last but not least......wait for it............
DONKEYS running this company !
In the next few PRs that come out, PTQ will blame the falling POG for their failure. We all know that is not true, however that is how it will be spun. It doesn't matter how much lipstick you put on a pig to make it look better, it's still ugly.
We DID IT !!!!!!!
That's right....A new low for the company.
Congrats PTQ !
You will hear about it in the paper before anywhere else !!!!!!
These boards act with their own set of rules...you know that RBF...just look what happened to Adrian Resources. Same old BS.
I understand and appreciate the part about the POG floundering. However, the rest is pure BS. It would appear to me unless someone can pull a rabbit out of their ass,it does not look good what so ever. I love getting updates from the media outlets as opposed from PTQ....very professional. I think they are just moving the ore from point A to point B to say that they are doing something.
I truly hope that there are things in play behind the scenes to get us a float. The article mentioned about getting financing....are you kidding me !!!!
This should be on their to do list.....
Number 1 ...terminate DICK
Number 2 ...terminate DICK
Number 3 ...terminate DICK.
To all the promoters of the POS.....GFY !
WE ARE FINISHED. Goodnight and so long
15/09/2014 - Petaquilla Minerals confirmed that currently does not extract an ounce of gold in Molejón district of Donoso, province of Colon mine.
The company, operating since 2009, warns that the activity is not profitable for two reasons: the low gold price and rising fuel costs.
Along with these explanations stand criticism from investors who argue appalling administrative decisions that have put the company in the current situation.
A group of shareholders created an online forum, and have captured him discomfort over the course of Petaquilla Minerals in the hands of the current management led by Richard Fifer.
The ounce of gold was sold last week to 231 thousand away from reaching $ 900 billion in early 2012.
The little activity in Molejón has taken its toll on the company's shares on the Toronto Stock Exchange, Canada, whose value has fallen 83% in the last year and stayed in 4/100 on Friday.
Jorge Obon, spokesman for Petaquilla Minerals in Panama, said the company is not bankrupt, and said that in the coming months could resume processing tasks.
"The mine is not stopped, what we're doing is stacking the material that had already been extracted and is ready to process, but at the moment we are not mining gold," he said.
In the financial statements for the first quarter of 2014, stated that the mining had 152 thousand ounces of gold deposits.
Between January and March, Petaquilla reported a loss of $ 11.6 million, compared with $ 15.8 million earned in the first quarter of last year.
The Comptroller General's Office reported that in the same period, the value of gold exports fell 98% compared with January and March 2013 when it reached 29.9 million.
To stay afloat the company agreed last May, with its Canadian counterpart First Quantum Minerals, the sale of assets of $ 60 million.
Of the total, First Quantum Minerals anticipated $ 32 million; and the remaining $ 28 million will be canceled in four installments over the next three years.
The transaction included the transfer of 483 thousand hectares and rights that had cash Petaquilla copper Botija Down Arm, Balboa, Colina, and Valle Grande Botija, or any other deposit located in the residual area of ??the concession area Molejón.
Additional, removed stone is purchased by Minera Panama, a subsidiary of First Quantum, which builds the infrastructure needed to launch its copper mining project, also in Donoso, due to start in 2017.
In addition to the stone material, Petaquilla is processing to manufacture tiles and clay tiles, a product marketed by the company Petarcilla.
Without specifying the number, Obón indicated that a percentage of workers dismissed in Petaquilla was hired to extract stone and clay.
At the peak of activity between 2011 and 2012, 200 thousand people worked in Molejón, while at the end of June the number had fallen to 620 employees.
This year has been steady street closures by Petaquilla workers. Report the late payment of employee benefits.
Last week the third meeting between the workers, the Ministry of Labor and Workforce Development, and directors of Petaquilla was performed to determine how the company will tackle the late payment of bonuses and other benefits.
Despite the downsizing, Petaquilla spokesman says the same number of inspectors who monitor and provide treatment tailings tubs, where sediments and chemicals that result from the processing of gold deposited is maintained.
In addition to the $ 32 million already received from First Quantum Minerals, Petaquilla negotiate new credit lines with banks to resume gold mining.
This not only plans cover the cost of return, but to change some of the machinery in the mine that is worn by weather conditions.
"We will continue to take gold, the mine has a productive life of 20 years and will continue to support the community in which it has already invested $ 13 million in infrastructure," said Obon.
As for the draft law submitted by the independent MP Ana Matilde Gómez, proposing a moratorium on open pit mining and seeks greater environmental monitoring projects already operating, the spokesman said Petaquilla approved a new framework regulatory, the company will comply with the new legislation.
The draft No. 10 proposes that concessions open pit operation to undergo a process of international audits to verify compliance with industry standards.
It appears that not extract Petaquilla gold until 2015.
RBF....can you tell me what happened to Adrian Resources as I wasn't around back then. I don't mean that it was folded into PTQ......I mean what were the events that lead up to that point. Did they drive that Company into the ground as well ?