As you know a lot of mining companies cutting down production:MOSCOW (Reuters) -

Two Russian gold miners - Petropavlovsk and Nord Gold - plan to cut production in 2014 as they focus on cost reduction after a slump in the gold price, they said on Thursday.

Many gold producers were hit by a 28 percent fall in the price of gold last year - its biggest annual loss in 32 years - prompting miners to cut costs, delay new projects and hedge, selling their production forward.

"The miners were mining at the highest possible cost because the gold price was going up and when it stopped going up, they had to reduce that. So that means that they will mine less gold," Peter Hambro, Petropavlovsk chairman, told Reuters.

Petropavlovsk expects its 2014 gold production to decline 16 percent year-on-year to 625,000 troy ounces after it sold high-cost alluvial assets, the company said in a statement.

Badge. Let’s review the latest events.
When I find out that we lost L/P - of cause I was upset, that was devastating news to me and everyone else I am sure.
My reaction was proper as we all know what Lomero-Poyatos means for the future of this company.
It was a terrible lost which prompted me to re-examine integrity of the leadership, my investment over all, etc. and my posts reflected that.
As more information come out during the last few days ( as Jal mention in his post regards of L/P) and other sensitive nature
communications - I decided that that my original reaction was incorrect as we (US investors) do not see the whole picture.
We are unaware of a lot of things which happening right now.
Am I happy about everything - no, I wish company would communicate better with investors, I wish gold price were higher,
I wish I knew exactly what is going on in a “War Room” , but I think management doing right job under circumstances.
That why I change my position from sell to buy.
We will know soon , if I am right - we all win, if I am wrong - we all lose.

As you can tell, I'm betting my money on "sooner".

This time I agree, it will be "halted" but for the good reason.
And red will turns green in a hurry.

Does not matter. Everyone is a “positive” here,
Everyone is positively wants to make money here regardless if they whining and complaining or have cheerful attitude.
Too many positive rumors going around.
As much as I disappointed in losing L/P I cannot deny that something positive is going on behind the scene.
( Did I said “positive” enough for you?)
That is why I am pushing “Reset” button and making all those “buys” on PTQMF, yes-it is me.
We will count our chickens in a Spring.
50 K - come to Papa.

Cheers.

Mjk , you been awful nice to them by sharing information they don’t appreciate anyway.
They always blame temporary set backs on you.
I would leave them in a dark , like little children screaming bogie man is coming.

PMC is right in one thing- people on a board are attacking each other like its people’s fall that they lost their money.
Hey, wake up - everyone here drank cool aid, some of you may be liked the taste of it and some didn’t complaining about color or smell - never the less you drink it because you thought that you going to make money regardless who is at the helm.
It’s not MJK fault, or anyone else.
Too fr7$#Ng bad- you have no one to blame but yourself.
Grow up and take responsibility for your actions.

Bottoms up, cheers .

It stopped looking pretty when we lost L/P.
We don’t need to read wade’s posts to know how bad things look.
At this point - who cares what Zacks says anyway - were his latest predictions ever materialized?
All he does just repeats what we already know and warns his followers.
Santa is our only hope.

Bobby , I agree. I would raise both of my hands to sell PTQ.
But unfortunately knowing what I do about Mr. Fifer - he will not put company for sale.
PDI will not going to be spin-off right now but will continue to provide adequate cash for Petaquilla to survive these rough times.
We just going to pluck along until better times.
Those who chose to stay might as well become long term investors.
We need to separate wishful thinking from reality.

You have not a slightest idea what I did with this stock thru the years. You are very immature…
I am not going to call you a jerk, but I am done with you. GL.

I never had communication problem until late.
If you were so smart and had a clue - why you did not sold out long time ago.
It looks idiotic on your part.

At this point I believe what I read.
Unless company comes out and says otherwise and have something to proof - we lost L/P.
Unfortunately as you know IR is not communicating with no one. We are drifting in a sea of miss-information.
Hopefully we will know more by mid-February.

Loj,
Obviously Chen Le is completely unaware what is going on... Petaquilla’s lost of L/P was printed in a few business papers, unfortunately it is a fact.
Company is tight lip and we will not know anything until mid-February.
Some people already bail out, but I am still here taking shots from Badge and Jal ;o).. There is a hope…

I believe Jay. That means what I guess all along - gold mining is partially shut down just to accommodate DD loan and main task is to supply the aggregate to FQM.
In this case Q numbers will be bad.

There is nothing amazing about it. Just facts.
What Petaquilla-story had to offer then other junior:
1) Location, location, location.
2) L/P , = long term prospect, 100K + producer,
3) PDI spin-off,
4) Panama company with government connection.

Today:
#2 is gone,
#3 is not going to happen because it is the only cash source with gold price in a pits.

So, #1 and #4 are left, that is why I’m still here, but story is not the same anymore.

Now, if some magic fairy will wave her wand and gold price goes back to $1600,
and we get other property similar to L/P- then I will be happy to raise the bar.
But today , it is 50/50.

Don’t read too much into my post.
Yes, we still have a trump card left or two, but lost of L/P is devastating for the PTQ future.
Luck of integrity on management side is another huge issue. Still, because of (I stated before) Petaquilla’s strategically land position and PDI - there is a hope that we might make money .
But at this point it is 50/50 chance that we loose also.

Are you saying that you visited the mine last week and talk to people?

Jay, how do you know that? If so, which I
really doubt, could it be the scheduled annual shut down for maintenance
and ball replacement?
Did you call the plant and ask, or Penonome Office,
or Panama City Office? You certainly did not visit the plant for seven days?
There is no sigh "Garage sale" anywhere on Petaquilla property.
And if I were Fifer, why would I wanted to sell company I build for dirt cheap?!
I got PDI, aggregate, Land, FQ needs My Road and government is on my side.
Play by my rules or a few “upset” workers will block the road complaining about bonus check which delayed for one week or something similar.
People on this board easily forget that Petaquilla is Panama Company and FQM is foreign one.
(Remember Inmet!) I am sure Pascal will learn his lesson fast or else.

Bobby, most of people on this board would prefer some kind of sale to occur. But it is not up to us.
We can discuss all we want what and how much, unfortunately decision about it will be made by BOD and Mr. Fifer.
They are in a different situation then average stockholder. Their shares doing much better then ours, believe me.
Production on Moleron site continues as nothing happened ( and what did happened , Spain - has nothing to do with local mine). Gold has been poured and aggregate has been delivered... what if we get half-decent production number?
What if they find local bank to lend them a few mil just get over the hump.
You also have to have a second plan - that sale will not occur.

So we back to :
Petaquilla es Panama.
It is not for sale, Richard will have to get another PP ,loan or large JV .
Hmm … I thought everyone was so sure that we will be sold ..
Not so fast…

Gold: "...While shorts are high on the minds of traders, in Asia and, particularly China, physicial buying continues ahead of Chinese New Year.

But, the run up to this milestone is also expected to add to volatility.

UBS points out that volumes on the Shanghai Gold Exchange have picked up significantly of late, as too have premiums - mostly staying above $20 for the Au9999 contract over the last few weeks.

“The increased activity in China is consistent with typical seasonal patterns, as we head closer to the Chinese New Year at the end of the month. The dip in prices towards the end of 2013 likely encouraged a pick-up in physical buying and therefore a further draw down on existing stocks."

And, while inventory levels are generally considered comfortable, if buying were to pick up, premiums could rise as the window for getting imports into the country in time is narrowing.

“Fresh import licenses are needed for 2014,” UBS explains, “and with the New Year festivities scheduled earlier this year, the time between getting the quotas in place and shipping the metal is limited.”

The fifth factor that is likely to keep market participants guessing is the actions of the Reserve Bank of India.

A number of rumours are circulating about whether or not, or rather, if and when the Indian government will reduce import duties and relax gold import restrictions. Such a move would be positive for gold demand in India and, thus for prices. But, as Steel says, “The return of India as a greater importer would be gold-friendly but it is still not clear when, or even if, the authorities will cut the tariffs on gold. It may also take months for greater physical demand to work thoroughly through the market and support prices.”

By the way - true idiots are those who never like Panama as a country, never trusted management, did not like what company is trying to do and still took their money and invested here.

I’m still in a red, but most "long holders" in $ .40- .50-sh range.
It would not take too much for this stock on a good news to jump $.10 to start mass exodus.
DB does not want us bankrupt - they want gold so they will do everything they can to keep us pouring as long as they can.

We blew the Spain, but we still have Land rights PDI and the Road, so there is a hope for full or partial buyout.
But then again if gold turns around and goes back to $1400 - Moleron will become much more profitable.
But time is not on our side…. so I am sitting on a fence and that is far cry from my previous outlook on this company.

It is sad that I have to agree with 50% of this statement:
“But I have to give CREDIT to some of the former ''positive''people who now realise we got sold a bill of goods....they are at least HONEST enough to admit it and are now just looking to GET OUT and minimise their LOSSES.”
It will be no losses PMC , it will be profits, just not as much as I hope for.

Selling PTQ?!! Not true , I stated my extreme disappointment with loss of Spain . I express luck of integrity on the management side. And denounce PTQ as a “dead money” for the long haul.
I would not sell my shares for today’s price (you are welcome to do that if you wish).
Never the less as we wait for turn of events to unfold- what’s wrong with discussing different scenarios which can happen to PTQ / shareholders?
Part of DD is to be prepare to whatever Board decides to do.
As gold price changing so is argument for keeping company alive gets more valuable…. just talking….. I am not buying or selling, my boat is full.
Sorry JFF that you become a long term holder, I know you prefer to trade which I don’t blame you for it.

Jim Rickards on Bloomberg talks about gold. 2014 might be a turnaround year.
So back to my point, why would anyone wanted to sell PTQ now ?
I understand some of you just want “quick fix” and go away, but I prefer a long view on current situation.
The only negotiations I can see are with another bank for a possible loan or more PP.

http://www.bloomberg.com/video/gold-declining-prices-versus-skyrocketing-demand-iEcm4n5QS7u9bZ2h~Iwwhg.html

Price Drivers

"...The gold price now stands in the heart of overhead resistance and is narrowing its trading range to zero. It is clear that we are on the brink of a strong move either way.

While the Chinese are very happy with the gold prices at these levels, it does not have the power to suppress them. China is a long-term, persistent buyer, trying to access as much gold as it can over the long-term.

But there are supply and demand tides that are maturing, as we write, that will dictate the direction of both the gold and silver prices. These have the potential to change the game completely. When they become visible, the gold and silver price will move strongly and suddenly.
There were no sales from the U.S. based SPDR gold ETF holdings or Gold Trust yesterday, whose holdings remain at 794.621 tonnes and 161.83 tonnes respectively.

The government of India is waiting for confirmation of economic and Balance of Payments data before making an announcement on lowering import duties on gold and silver and easing restrictions on their import. The Ministry of Commerce informed the public that that it will be “soon”. No details have been issued to guide us on this, so we must wait to see. Investors should factor in such an announcement.

The Japanese Yen has fallen to 104 against the U.S. dollar. This is against its peak of 78 in the last two years. It is capable of falling to 120 yen to $1, simply by repeating history. It is in Japan’s interest to do this as the debt levels in that country continue to rise to over 220% of GDP. It is very clear that “Abenomics” may not achieve its aims. There is a great danger that if they do fail we will see a loss of confidence in the Yen. The Yen is one of the four main global reserve currencies. We expect 2014 to show a remarkable performance in the Yen gold price."

Bobby, I am not against buying at this levels, but we have to be careful about this situation.
Why everyone on this board assumes that whole company will be sold. If it does then you , me and everyone else get that final price, but… what if FQ decides that they do not need Moleron , what if they just buy the road from PTQ with PTQ maintaining “use of the road” , and why sell Moleron now when gold prices beginning to go up.
What if gold trades at $1600 next year and all Fifer has to do is survive this year?
All I am saying as long term shareholder I am OK no matter what happens, but those who are hoping for a quick turn around and investing now thinking for a quick buck - might become long term investors if my theory is correct.

Unfortunately we at the mercy of FQM.
Yes we can get few mil. to extend our life from PP.
Or we can negotiate with FQ. And maybe we get some kind of premium on today price if and only if whole company will be sold.
But no one takes under consideration other less plausible scenarios:
Whole company is not sold but Mr. Fifer negotiates some kind of partial sell of the land property or use of the road or whatever just enough to pay all the bills keep PTQ afloat for another year or so, but shareholders will get at the most small divi and SP goes to $.15 …. That’s also possible.

Credit? Are you serious? Who invests in penny companies on credit?
This is my play-money.

One more thing Badge (let discuss this in civil manner).
I stayed with Petaquilla all this years because I trusted my DD and I trusted management to do the right job (and things did look good for awhile).
Ok, I made a mistake and I admit it. But You! You (and a few other ones) you never like this management or the company the way it was going or falling behind on promises. Why the heck did you stay?!!! Why didn’t you sell this baby and get into something else?!!!
This I don’t understand.
Trust is a big issue in my book and once I lose this – I am gone.
You are not going to see me hanging around for years if I don’t trust BOD or people around me.
Why the heck did you stay? All this years!!!
While never trusting them? At least I made a mistake, but you- you knew it all along.!!!
Explain this to me.

It does not help playing Monday quarterback now.
If I knew before what I know now- I would have sell PTQ for $1.10 way back.

Never the less – it is a free speech here. I am aloud to be positive about my investment or negative without you constantly making it personal. At least PMC (RZBF) stays on a subject and does not make personal comment. You can disagree or agree without personal accusation then I will feel as discussing it with you.
No one ever should make investment decision just relying on this board, and if you did – shame on you.

Badge, “Hold your horses right there” I am not offering any excuses for what happening.
At this point BOD fail miserable to inform stock holders what is happening. As usual you like to accuse me for things I have no control.
I simply stating according to Panama people customs – everyone is gone until Monday.
My past positive attitude towards my investment has nothing to do how I feel about it now.
Save you fire to fight people who actually took your money and not fellow board members.
At this point PTQ is a dead investment. Fire sell- all we can hope for.

I am very disappointed with loss of Spain. It could have been a future for Petaquilla
But at this point I don’t see how we will make it with current price of gold, luck of integrity,
luck of money to explore or developed.
We are for sale, just simple as that.
Price? $.10 to .40 make a pick.

OK, so we-shareholders spent almost $ 31 mill worth of 45 mil shares of dilution and got nothing.
But Richard’s stock price average maybe $.05 or 0.10, mine is higher.
If negotiations were going on which I tend to believe- they are not going on now as action by company clothing the road tells me that.
Both sides are not talking at this moment so clothing the road sends a message to come back to the table, but also portrayed PTQ as in desperate condition,… a week one.. what a mess?!

That's what we paid:

Vancouver, BC - August 10, 2011: Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") would like to remind all shareholders of the special meeting (the "Meeting") of the holders of common shares of Petaquilla (the "Shareholders") to be held at the Fairmont Waterfront Hotel, Nootka Room, 900 Canada Place Way, Vancouver, B.C., Canada, on August 31, 2011, at 10 a.m. (Vancouver time).

At the Meeting, Shareholders will be asked to consider and, if thought fit, to approve an ordinary resolution authorizing the issuance by the Company of up to 50,000,000 common shares of the Company, representing approximately 28.3% of the issued and outstanding number of Petaquilla shares as at July 27, 2011, including approximately 44,635,255 shares to be issued as consideration for all of the issued and outstanding common shares of Iberian Resources Corp. ("Iberian").

An information circular containing details of the proposed acquisition will be mailed to Shareholders on August 10, 2011. This information circular will also be available at www.sedar.com.

Iberian

Iberian is a private British Columbia company that owns 100% of the Lomero-Poyatos project through its wholly-owned Spanish affiliate, Corporacion de Recursos Iberia S.L. ("CRI"). Lomero Poyatos is located about 85 kilometres west of Seville, in the north-east part of the Spanish/Portuguese (Iberian) Pyrite Belt. Iberian also owns several other exploration licenses in Iberia through its wholly-owned Spanish and Portuguese affiliates.

An updated National Instrument 43-101 ("NI 43-101") compliant Technical Report in respect of the Lomero-Poyatos mine in Andalusia, Spain, has been completed and is available under the Company's profile on both the SEDAR and EDGAR filing systems.

Lomero-Poyatos Valuation and Transaction Value

The updated Technical Report by Behre Dolbear International Limited ("Behre Dolbear") titled, "NI43-101 Technical Report on the Lomero-Poyatos Au-Cu-Pb-Zn Mine in Andalusia, Spain" and dated July 29, 2011, incorporates a valuation report.

Behre Dolbear carried out a preliminary valuation of the Lomero-Poyatos deposit based on published average global stock market valuations per ounce of in-situ gold resources and value from a comparable acquisition transaction. Taking the average of these two estimates, assuming equal weightings for each, Behre Dolbear concluded that an appropriate current value for the Lomero-Poyatos project is US$53.5 million.

Based on the Company's Volume Weighted Average Price of CAD$0.69 for the 30 trading days preceding August 9, 2011, and the issuance of approximately 44,635,255 common shares of the Company, if approved by Shareholders, the cost to acquire Iberian would be approximately CAD $30,800,000, or approximately 40% below Behre Dolbear's valuation of the Lomero-Poyatos deposit.

Mineral Resource Estimate

Without Spain company worth much much less. Still we have no evidence of any negotiations, hope you are right, thou.

Thanks for posting this article , but we heard that before.
As much as positive this news from Germany sounds - we can not confirm that any negotiations are going on.
Quiet opposite is true at this moment everyone in PTQ headquarter is gone on vacation or other business.
We can only assume ( and German article mentions that also) that FQM is failing behind on aggregate payments, we talking about $ 2 mil.
We all know how desperately Petaquilla needs money , so blocking a road to force FQ make a timely payment makes a sense.
Desperate times call for desperate measures.
PTQ SP going up 10% on a bad news is puzzling to me unless it is a short covering. We will see today…