ptygold, perhaps you should stop.

Isn't time you came out of the shadows, revealed who you are, who you work for, what your real goal here actually is, and that your co-worker has already been jailed in Panama? Your false accusations and personal attacks are patently libelous as you well know, but do shine a light on you hiding there in the shadows.

To others on the board: The whipping up of those stockholders who are not well informed to achieve a goal is a dangerous; be careful of those you choose to join in any effort guarding your personal liability. In this orchestrated chaos have any of you noted that the Moderator Digi, who contributed more to the I-Box and the Board than anyone in the past, has departed? Along with him many other educated and informed have also left the building. Seek your own counsel and do a background check so that you are well informed and know exactly who you are following. Sorry to say, there is nothing more to see here...quidado que no se mete un goal...

Saludos, y buena suerte...

Hi Bobby, your questions are reasonable.

Share price is what it is. Some are buying the cheap shares, but the volumes are so small it is not worth bothering with for the most part. The key is not the share price but the volume. Insiders are barred by law as Digi has explained repeatedly with material events in the works.

Production will probably be next to nothing this quarter. I would expect the revenue from aggregate to be more than from AuEq. Next quarter, assuming we receive the money July 6th, and are able to resume production withing 60 days thereafter, should be maybe 4,000oz.Q1. if I had to guess. Q2 (Oct.-Dec.) I would guess 12,000oz. and profitable. Those are just guesses and not reliant on any information that is not public.

Financials will be much better this quarter due to management efforts. You have no idea what Richard Fifer is doing and your prejudice against flying is absurd. All of my family are pilots and we have several planes. What is wrong with that??

Some posters here, especially one in particular were asking for a curtailment of production until the POG was above $1,500.00oz. and now they/he whines.

I am happy if we have a bottom line profit regardless of production rate. Obviously more of both is always better.

You have contractual obligations sometimes that must be honored at all costs. One man's foolish spending might be another's necessary spending. Things are not done in a vacuum.

Nobody took the company anywhere. The company responded, albeit perhaps a little slowly, to unforeseen macro and micro events. They fared better than 45% of the Junior Miners. We are now moving rapidly forward toward resumption of production and profitability. Never a good situation to lose money, but it is being dealt with very efficiently IMO.

My glasses are fine and not making money right now is irrelevant to the future. That fact does not matter at all at this time. You are upset because you are upside down at the moment. But I think you are more sophisticated than that. A return to profitability this calendar year will result in recovery of the SP. The miniscule volume of trading should tell you that is what most actual shareholders firmly believe. I continue to buy as the shares are extremely cheap. Even a profit of only $0.10 for FY 2015 would trigger a nice increase.

The bottom line: Our future is now secure, and we are not going anywhere, so down side risk is not too much at this point. I have no idea where the SP will go between now and July 6th, but it should increase thereafter.

Those soliciting a change of control the viability of which has not even been evaluated by any competent authority, and are going forward without such, are so far out on a legal limb, risking all of their personal assets as well as their investment, that it is comical. It will be interesting to see how that is all resolved in the courts. Certainly with the germane questions I posted and Digi's informative posts they cannot claim ignorance of the pertinent issues, or the law. IMO they will need very deep pockets, and I expect will lose in the end.

Good Luck to you....I think the best of times are before us yet.
Looking forward to the resumption of production!!

Saludos,

Watching the moaning and hand wringing.

Very pleased with how the BOD is leading us out of this difficult time. Better times and profitability coming right on schedule per last PR. Brazil beat Panama 4-0 today, but that was a 'friendly'. Brazil is a great place, you should watch them carefully.

Richard is doing a fine job and will continue to lead the company for many years. It is not my fault that many here do not have any idea of actual events and future plans. Just howling at the moon with no idea of what is going on with your company.

Kind of fun to watch the confusion in a perverse sort of way, I guess. Still buying, still happy, still seeing a great future. If you do not like the way the company is run then sell. But, don't go away...we want you to witness the future.

You need money to play a high stakes game and definitely some intestinal fortitude!! Only sound advice I saw today was advice to buy FQM stock. Now that I agree with wholeheartedly.

Saludos,

Simple to understand, difficult to achieve.

Return to profitability is a simple goal. We had twelve good ones in a row. Two or three more would do wonders for the share price.

The moderator explained very clearly the impossibility of achieving that goal with a change of control and ousting of the board. So that has been put to rest. A restructuring of the board is easily doable and will have a strong effect because of the way corporations function under their by-laws and the duties and powers Officers have. Management will be realigned to facilitate the new areas of concentrated effort. However even if that is not accomplished it would appear to me that we will return to profitability this calendar year. Of course macro events like a big fall in POG could prevent that.

There are some more good things coming down the road that will make the process of resumption easier. They are privileged right at the moment, but may be announced before the end of June. However there absolutely is no great magic pill to be taken. Just a hard slog through the swamp to higher land. I definitely believe we will be operating at a profitable, sustainable rate by the end of the first quarter. (September) Could be a month sooner...The storm has passed and now we pick up the pieces.

It is unfortunate that some here have lost heavily by either risking too much, poor timing, or not being well funded. Blaming others for one's own failings is easier than taking responsibility for ones own actions. Those who have funds and invested prudently are probably well positioned to catch the next wave.

Volume is ridiculously thin and the share price will move abruptly. $62.50 USD moved it 18% yesterday!! The FQM deal confirmed that the actual share price has little to do with the value of the company.

My questions were drawn by our family law firm and posted repeatedly to make certain the were placed in the public record. I did not expect much in the way of answers, but is was a necessary and useful effort to clarify matters. A prudent move on the chess board as one might say.

To the best of my knowledge there may be two individuals who might consider nomination to fill the existing single position open on the board. I don't believe either has stepped forward and offered themselves to the company. Vetting of the company and the insurance will probably take another 60-90 days before either makes a decision as to their willingness to serve. So that can be put on the back burner for now.

It is probably a good time to just sit back, relax, and let the wheels of progress grind slowly forward for a while. I think the universe is unfolding as it should and I am looking forward with anticipation to the money July 6th from FQM and maybe a little more news about events moving us forward again.

Saludos,

Fmeg, Don't know about wands and magic.

The share price may recover when the company is in production and posts a couple of quarters of positive EPS numbers. When one asks pertinent questions about an alternate plan, so that it may be judged as to its feasibility, one is met with insults and vilification. Some of us are of like mind, so we will see how it all turns out.

I believe that I am close enough to the actual situation to understand the quickest way to achieve recovery. I expect that a new well qualified board member will be nominated to replace the one vacancy. IMO opinion that will strengthen the board in the areas that are needed; that we will be in production by August. I continue to accrue shares and will do so as long as in my judgement it makes sense. My money, my risk, my responsibility.

As a guess, I expect the share price to erode further over the summer and then begin recovery in the fall. I don't expect anymore news to be published until the middle of July. Time for family and vacation.

Good Luck with your investment choices.

Same very relevant questions...

1. Who are the individuals you propose to place on the BOD so they may be vetted before commitments are made and money spent?

2. Who is funding this action that may require one to two years to complete, and how much is budgeted and available?.

3. What are the names of the law firms in Panama, Canada, USA, and Germany that have been or are to be engaged, and will the entire ad hoc group be liable under their letters of engagement?

4. Who is paying them now for their preliminary feasibility work and research?

5. What are the estimated costs involved for, research, filings, protocol compliance, and who is paying or will be obligated?

6. Who is replacing the money ($60Million) that was to be provided by MPSA with the cancellation of the agreement that may occur under the terms of the just negotiated deal?

7. What law firm in Panama has given you a report that Panamanian law either will not apply or can be circumvented, and at what cost?

8. Who is fronting the money to pay the side agreements that trigger immediate payment of debt with the proposed change?

9. Who is willing to fund in total over ($100million) with no dilution or promise of repayment? (triggered debt, PP agreement, MPSA agreement,contractual severance.)

10. To what extent are the members of your ad hoc (Thus far unnamed.) group exposed to legal ramifications under Panamanian law; what law firm has been engaged to represent their interest and at what cost?

11. Same question for participating stockholders since this is a complete takeover there are Panamanian liabilities?

12. Who is going to pay for their defense of expected lawsuits?

12. Who specifically is going to inject funds to resume operations with no dilution or plan of repayment?

13. Who is going to recruit, vet, interview and hire new management members; at what cost and with what qualification?

14. What is your time line for resuming production and how is it to be funded given that approval in germane jurisdictions by government authorities may take two years?

15. Who has provided a feasibility study that convinces you this is an achievable plan?

16. Who is providing and what is the cost the insurance to protect all groups referenced herein above?

Simple but necessary questions that must be answered if one is seeking intelligent commitment from shareholders. Most of the items are required by TSX, SEC, and Panamanian rules and laws.

My friend GI with all due respect:

We have known each other privately for some time and both of us are in almost constant contact with the decision makers at PTQ. Our goal is the same, to improve our company. We disagree completely on the best method to do so. Those questions I posed cannot be left to be only your problem. They were drawn by a very professional young man in our family law firm, and genuinely need to be explored and discussed, so that all might better understand and evaluate where you plan may lead. They are everyone's problem who might chose your path; questions that each might have before making a prudent decision. As I said, I post them without regard as to merit or evaluation of prospective outcome, but rather asking for information that would allow vetting of individuals, specifics on financing, and a path to evaluate the proper research with the required law firms, particularly as existing agreements, Panamanian Laws, and existing commitments would impact the firm.

We both have similar knowledge and information that is privileged and very similar in nature. Those things of course are private individually and between us. However, now that this new information has been made public revealing what has been achieved to date, and knowledge that production will soon be resumed at a profitable level, fully funded with no dilution or debt, it might be a reasonable time to reevaluate your plan from a practical mechanical standpoint, without regard to personal feelings toward anyone, and see which way will put a positive EPS on the bottom line quickly and efficiently. As is well known it is what is put on that bottom line that will actually directly affect the retail share price.

Questions for German Investor.

German investor:

Putting aside your personal dislike for Richard Fifer, and the rest of the management team; the merits or lack thereof of your proposal; whether or not it can or will work; please answer in very specific these questions about the mechanics of your plan:


1. Who are the individuals you propose to place on the BOD so they may be vetted before commitments are made and money spent?

2. Who is funding this action that may require one to tow years to complete, and how much is budgeted and available?.

3. What are the names of the law firms in Panama, Canada, USA, and Germany that have been or are to be engaged, and will the entire ad hoc group be liable under their letters of engagement?

4. Who is paying them now for their preliminary feasibility work and research?

5. What are the estimated costs involved for, research, filings, protocol compliance, and who is paying or obligated?

6. Who is replacing the money ($60Million) that was to be provided by MPSA with the cancellation of the agreement that may occur under the terms of the just negotiated deal?

7. What law firm in Panama has given you a report that Panamanian law either will not apply or can be circumvented, and at what cost?

8. Who is fronting the money to pay the side agreements that trigger immediate payment of debt because of the proposed change?

9. Who is willing to donate in total over ($100million) with no dilution or promise of repayment? (triggered debt, PP agreement, MPSA agreement,contractual severance.)

10. To what extent are the members of your ad hoc (Thus far unnamed.) group exposed to legal ramifications under Panamanian law; what law firm has been engaged to represent their interest and at what cost?

11. Same question for participating stockholders since this is a complete takeover and new owners may be liable in Panama.

12. Who is going to pay for their defense?

12. Who specifically is going to inject funds to resume operations with no dilution or plan of repayment?

13. Who is going to recruit, interview and hire new management members; at what cost and with what qualification?

14. What is your time line for resuming production and how is it to be funded given that approval in germane jurisdictions by government authorities may take two years?

15. Who has provided a feasibility study that convinces you this is achievable?

16. Who is providing and what is the cost the insurance to protect all groups referenced herein above?


Once again these are some simple logical questions with no reflection on personal issues, the merit of your plan, or whether or not it may succeed. In fairness to those who are not familiar with the issues discussed above it, would be expected that you would provide such information before asking those unfamiliar with the situation to become involved in something wherein the may incur large financial obligations as well as be challenged in court.


Please do not defer direct answers to specific questions by referencing other actions at other companies. Each case is different and Petaquilla’s is quite complicated. Based on what I see and the legal advice I have at my hand this is indeed an effort more appropriate for Don Quixote. The biggest risk is that it might succeed and immediately shutdown permanently the company and trigger a large number of lawsuits directed against all involved. You cannot go against protocols and laws with impunity.

One International Law Firm with which I have close contact, and has extensive experience in these matters in Panama, might consider an engagement in this effort. However, they would require a good faith escrow deposit of $500,000.00 to begin necessary research and would then issue a feasibility study working from that fund. Please advise if you are interested.


Far more realistic is the plan put forward by the moderator.IMO. It is fully funded,absolutely legal in all jurisdictions, and you will have the detailed production guidance shortly.

Disclaimer:
These statements are to the best of my very limited research merely questions logically assumed, and may or may not reflect all matters that should be discussed before any decision. Do not rely on their accuracy or completeness.

Thanks for bringing sanity here.

In addition, this ad hoc group will have to fund this takeover attempt. If one seeks a qualified opinion for such a total takeover of PTQ, considering the number of entities and jurisdictions involved; the large number of agreements that are germane, a good international law firm will require several hundred thousand dollars in their escrow account to fund an initial conceptual study, before giving an opinion as to whether this idea of firing management and taking over the entire BOD is even feasible. One can rest assured that the total cost to bring the idea to a successful conclusion will require several millions of dollars; then may trigger the many side agreements that may exist for repayments and other obligations with MPSA, PP participants, and current company obligation holders.

The question of Panamanian law is a whole other issue.

I spoke with the founder of a large international law firm just to get an 'off-the-cuff' opinion. A war chest of $5,000,000.00 was recommended to start.

The reality of the situation dictates that the only reasonable recourse to improve and influence the company in the way some wish to do, is to follow the recommendation put forth herein by the moderator.

Soon you will have some more information as to when the company will restart profitable production. There is no additional money needed to do so. All debt repayments scheduled in the agreements made of the last eight months will be possible from internally generated funds.

Saludos

"Lots of sound and fury!"

To make it very simple. Panama will not allow an outside management team to takeover Petaquilla. Varela himself has said so. In addition I assume that none of you are in NYC this weekend, so you have no idea of what is transpiring or what the future brings.

I do not find that out of line.

You must not have talked to Heidrick and Struggles as I suggested.
I even posted a link for those who might wish to explore a change.

Most CEO's and Chairmen, running international companies in more than one country earn more than that. Most packages are well over one million dollars a year. Granted I would like to see something also tied to performance results, but that salary is really not out of line.

I am surprised that you did not tell Redflame that the production guideline was delayed a few days due to ANATI paperwork. That is common knowledge in Panama.

You seem to be very disgruntled, and I wonder if an executive terminated you somewhere along the line and made you bitter. If you check executive compensation packages in Latin America with any good head hunting firm you will find Fifer's package is well below the average. You really think you are going to attract a quality person for less? You are sooooo....out of touch! You may not like our chairman personally, but I can guarantee you it would take twice as much money to bring it anyone with similar education and experience.

POST THE TRUTH:

PER DEPARTMENT OF COMMERCE USA:

FOR MAY 2014 75% PERCENTILE CEO BASE SALARIES REPORT BY HR DEPARTMENTS: $1,171,962. $97,663.50/MO. YOU CAN ADD 25% FOR OVERSEAS PLUS ABOUT 20% MORE FOR PERKS IN FOREIGN COUNTRY.

THEREFORE AS ANY HEAD HUNTER WILL TELL YOU, IT WILL PROBABLY COST YOU ABOUT $140,000.00/MO TO BRING IN A COMPETENT PERSON TO TAKE OVER A COMPANY IN PTQ'S POSITION. TRY AN SELL YOU IDEA SOMEWHERE ELSE, NO EDUCATED PERSON WILL BUY IT HERE. YOUR ENVY IS SHOWING.

BADGE792, I will explain again.

First of all you should read page #7 of the MD&A recently posted. That explains how we got into this problem and you can readily see it was not due to error by PTQ. Therefore I do not fault management for the collapse. They were slow to realize the impact I will give you, but they were able to negotiate their way out of the crisis and will resume production soon. They did not look for the fight and if you remember it was an HT by a very large corporation. I believe it took about $20M in attorney's fees and nine separate major lawsuits to prevail. But, prevail they did and INMET is gone.

To your specific questions:

PR is coming shortly. Again this is not just something that you write and release. It must be vetted and approved by many entities. This has been done and it would be better to release just after a three day holiday than just before, don't you think? It will be conservative with goals that can be obtained quite reasonably.

"Run into the ground", is not too specific and more of an opinion than fact. When you fight and circle the wagons you must still meet contractual commitments especially those with the major player with whom you are negotiating a way forward. Bills do not stop either. To layoff in Panama is difficult and you must go through MITRADEL and continue to pay for months. Many contractual obligations must be maintained. So debt accrues. Fortunately much is in friendly hands. Choosing to stop production of course exacerbated the problem, especially with DB, but it was the right decision.

"...sold a lot of assets at a fraction of the price" is again a difference of opinion. I think we got decent value for what was sold. Others her were calling for a closing of the company and selling off the movables at auction like the one they are having now in Dubai where hundreds of junior minors have closed world wide and selling their equipment 'as is where is'. Instead we obtained all the money necessary to resume operations, generate a profit with no dilution and no debt being incurred. We kept our most valuable assets.


Why did we take 60 mil now but threw the offer back to Inmet?
That one is easy...We have traded well over $3.00/share twice and the future is very promising. We expected to prevail in the BCSC where we did not. We are building a company not running a retail store, looking for a quick buck with a fire sale. There were a lot of macro events that affected us also like the POG and the pendulum always swings back. I think we will be profitable mid-term. $0.60 for the whole company was not a reasonable offer,
as the BOD unanimously concluded.


What is going on with PDI ? Nothing is going on with PDI. We kept the company. It is profitable. Operating results will be reported, probably separated, in next Q filing.

What is the next course of action? Resume profitable operations. Probably turn a profit in Q1 FY 2015 that starts July 1, 2014 or in about 30 days. More information will be disclosed on that plan shortly, certainly before the EOM. We have sufficient money to resume operations and need nothing further.

What are we going to do about the remaining 60 mil ? Some is in friendly hands controlled by investors and will wait. Most have signed off on the 'deal' and will be paid overtime according to that agreement. One party has sued for $1M, but I do not believe it has much merit. It is still in discovery. Over time older debt will be paid from operations and become new debt.

ETC, ETC, ETC. Can't really address that...

Yes this is a difficult situation at the moment, but the worst is past and we survived. A quarter or two of positive earnings will raise the SP quickly since we are very thinly traded. We will have the money we need on July 6th. If you look at our history we have traded from $0.03 to $3.00+ to $0.15 to $3.00+ to $0.20 to $1.29+ and back to where we are now. Now that the crisis is past I am not concerned that we will again see a new ATH in the future.

Personally, I am not feeding you anything and I do not care if you invest, listen, or do whatever you choose to do. It is of no consequence to me and does not affect my judgement. I try to give you an honest answer from my perspective and I risk my money based on that analysis of the situation. If I am wrong then I will lose that investment. One thing you can be sure, either way, I will take full responsibility for my decisions to seek to maintain family wealth and not moan, groan, cry, and complain on a public board. Certainly one should not do that when they do not even have the facts to make a critical analysis of the situation.

If you do not believe in the future then you should sell immediately because the SP may go much lower yet. If you believe in the future then you should be buying as much as you can everyday at these prices. If you have no disposable income with which to invest then you should not be here. Prudent money management is the essence of investment and preservation of wealth. This is a very high risk area as you should know, certainly by this time.

I am satisfied about how things are transpiring and support management. I would like to see a strengthening of the BOD in certain areas. But, I am not looking to change anything until we have posted a profit.


PS: Large stockholders are required to report sales by law or corporate rules.

Still informed, still happy, still buying!

Lots of moaning a groaning, but not a single idea or speck of information about what is actually happening. Expect to buy some more once again at the end of the month. The lower the interim price the more shares I get. You know it will take about 60-90 days to resume production and that we receive our money on July 6th. So why all the crying and hand wringing? You really think Richard is concerned about fighting shareholders?

Com'on Man!! You are more sophisticated than that!!! That has got to be the least concern of all. Don't get caught up in the gutter gossip!! Soon as there is a quarter with positive EPS all will be fine.

Retail price has actually held better than I thought it would so I will up my low prediction to $0.09. My guess is that would be just before July 6, 2014.

In the meantime, summer is almost here. Salmon have returned. Panama is getting plenty of rain, and we are waist deep in mangoes. India will push up the price of gold; Russia, China, and Brazil will push down the value of the dollar!! What's not to like...Life is good!! Big race to see for those flying into Indy. Largest gathering of private jets anywhere in the world in the spring!!

Good Morning PTYGOLD.

I have no point to pick with you. You may be right.

I did not need the Google translator since three of my four children are international attorneys and our family has been in Panama since 1541. Spanish, de Castile, is our first language.

Richard Fifer is actually an employee, if you understand the Corporate Structure, not the other way around. Whether he stays or goes is pretty much his choice is my best guess..

Perhaps I am not very smart as you suggest. However, I would suggest you look at the historical share prices: From $3.00 to $0.03 to $3.33 to $0.20 to $1.29 to $0.13 today all under the auspices of Mr. Fifer. Does it make sense that the latest decline you reference herein below would be cause for him to leave? History would say no. Soooooo...bottom line is that the company will have a restructuring to strengthen the BOD, my guess is the Richard will decide to stay. You will know a little more in a few days.

Although this board has been discussing changes at the top forever, not one single interested candidate has been put forward for any BOD position. In addition the ignorance about international compensation packages for senior executives is extremely apparent. Board members really need to talk to Heidrick & Struggles to be updated. An outside replacement's total package would probably cost the company around $780M to $820M a year assuming a wife and two school age kids in the family. So I don't see much to be gained from that standpoint. $60,000/mo. is about the median, but certainly less than the really good people can demand.

Please to not be concerned about my source of income. PTQ investment is not even one tenth of one percent of net-worth. I think the breakeven is about $0.39 now. Probably doable in the next year or so...

However, if you are moved toward a bailout, I'll take $7.50/share!!

Saludos,

Executive Search, Leadership Consulting - Heidrick & Struggles ...
www.heidrick.com/

Worldwide executive search firm, specializing in chief executive, board of directors and senior level management assignments.

That is amazing news ptygold!

Especially now, after just completing a major negotiation. I wonder why they are going to audit in Panama and Spain at this time since we have had a Big Four auditor for years and just finished our annual audit six months ago? I wonder whom the auditor could be?

That is a very different story from what I have heard was in the restructured organization. I guess I was just not informed as I thought. I will be looking for the news on DAX when the market opens in a few hours, and of course on TSX after the Victoria Day Holiday reopens in the morning. Congratulations on a real coup with significant news!

I guess they will have to pay him the millions of dollars owed in the accounts payable that he had deferred collection to keep the company operating. Can't wait to see how that affects the share price. Plenty of dry powder waiting to use. Perhaps we have a negotiated deal and are finally going private? Would that close out existing stockholders like the GM deal??

Good Luck, hope you have prepared and made the right decision...

PS: NOW I AM REALLY CONFUSED. PANAMA TELLS ME THAT THE RESTRUCTURING AND BOD CHANGES HAVE NOTHING TO DO WITH SALARIES OR RICHARD FIFER, BUT ACTUALLY REFLECT OPENING POTENTIAL POSITIONS, (MORE THAN ONE), WHERE ADDITIONAL SKILLS ARE PLANNED TO BE ADDED TO STRENGTHEN THE BOD WITHOUT SEEKING EXPANSION. GOSH!! IT IS AMAZING THAT NONE OF THE LARGE STOCKHOLDERS NEW ANYTHING ABOUT YOUR INSIDE INFORMATION. GUESS THEY ARE JUST OUT OF THE LOOP TOO!!

Hello Badge, here is my analysis forward.

The Red Kite money is gone and placed elsewhere. They have also been hurt with the GDXJ general decline of 65.44% as of today. Those Juniors that must rely on outside money to advance will probably fail and that is 50% of the ones that are left. Thanks to government policies and manipulation of gold prices the macro events have not been good. That will change in the coming years. Gold is stronger than fiat money and always wins that battle.

Petaquilla is extremely fortunate in that it now has the cash forthcoming to pull itself up by the boot straps and move forward.

Actions I see in chronological order:

1. Restructuring of management and BOD strengthening marketing and communications skills particularly with regard to communication to shareholders. New BOD will strengthen support for Richard Fifer.

2. Restart of production in Panama through heap leaching and some production at the mill. This should reach 4,000 oz. per month by August or September.

3. Once there are positive earnings completion of the two NI 43-101's in Portugal. Portuguese mines are then funded based on the bankable instruments. Portugal is an easy start with probably less than $6M since no mill is required and the deposits are "free" gold only needing shakers. 22,000 meters of drilling is already done so there is no big cost for the reports.

4. Once Portugal is producing more attention will be turned to LP, although some work to insure protection of the resource may begin in six months too.

5. Shipment of ore from LP to Panama with a g/t rate of nearly twice that which SRK reported will mean a overall cost of about $750-$800/oz.

Right or wrong that is how I see things developing. I continue to buy at least once a month and will continue to do so. Looking forward to the next announcement to see how close I am to the actual plan.

As you hear a lot of uniformed opinions suggesting all sorts of absurd things, most of which are not even possible or legal, just consider the background and source of such ideas. Whether it be the drunken phantasm that appears on Friday nights at SH, or the think tank in the CR souvenir shop in BC, they all have their story.

Good Luck with whatever you chose to do.

I leave you with these thoughts:
Go placidly amid the noise and haste, and remember what peace there may be in silence.
As far as possible without surrender be on good terms with all persons.
Speak your truth quietly and clearly; and listen to others, even the dull and ignorant; they too have their story.
Avoid loud and aggressive persons, they are vexations to the spirit.
If you compare yourself with others, you may become vain and bitter;
for always there will be greater and lesser persons than yourself.

Enjoy your achievements as well as your plans.
Keep interested in your career, however humble; it is a real possession in the changing fortunes of time.
Exercise caution in your business affairs; for the world is full of trickery.
But let this not blind you to what virtue there is; many persons strive for high ideals;
and everywhere life is full of heroism.

Q3 numbers are published. No reactions????

Trading single digit in Germany. Next week comes the 'other shoe' as Digi put it. Nice to know what is going on with our company. Exit door still open for those who want to leave. Hope you had fun here. The rest of us are staying.

Have any of you ever even looked at SEDAR!!!??? May 15th 21:23:21

Saludos,

bobby1231, sorry to see you go.

FWIW talked to several stockholders that are calling for a trading halt for 9-18 months. I have no idea if that is possible, but thought I should pass that along. Nothing on SEDAR so far today.

Prografa, I understand now.

Carlosc explains the situation accurately. I would remind those who look at history, that Richard remained in his position when the stock went from $3.00 to $0.03 to $3.33 to $0.25 to $1.29 to $0.16
over an 18 yr. period and I don't believe that will change. I would look a little closer at that family tree, and perhaps the other Corporate Directorships.

I don't want to discourage anyone from taking any action they feel is appropriate for their investment. IMO working within the system has a better chance for a successful outcome for all involved. The restructuring of the BOD could be done without too much of a problem.

Saludos,

Interesting idea...cost for law firm...

will be about $40-$60 thousand dollars. Who will pay this? Who has suggestion for new BOD? Who will conduct the takeover attempt? Who will pay for the required filings and proxy requirements? Total effort seem to be around $150,000 to $200,000 with no guarantee of success. Be fun to watch though...

Perhaps some intelligent, reasonable feedback and dialogue would be better use of time?? Exactly how do you "control" 20,000,000 shares? That seems material to me and requires some filing I believe. I can't seem to find it??

What do you think, should we file Q3 on Thursday, or get an extension that will carry us beyond the current silent period of nine more days allowing more disclosure?? Pros and cons???? Do you even know what I am talking about??

In answer to questions about heap leaching opportunities...here is information that was posted after the set of tests and before the large heap leach pads were constructed. Of course it is in the records, but it is easier to complain about lack of disclosure than actually bother to read the disclosed facts. LOL!!! Actually, I took the trouble to visit the METCON lab in Tucson and personally discussed the results there with both their and our management team. Did any of you even look at phase one or phase two, or even know they existed? Of course not...just complained that there was on 300 ounces obtained from the little 40,000 ton test pad. Of course that was excellent!! Never let the facts obscure the ignorance and agenda!!!


Petaquilla Minerals Ltd. (TSX: PTQ)(OTCBB: PTQMF)(FRANKFURT: P7Z) ("Petaquilla" or the "Company") today announced that it has completed Phase 2 of its Column Leach Test Program on the 'Oxide Gold Resource' at its 100% owned Molejon gold mine.

Results show gold recoveries range between 72.43% and 97.02% from the on-site column tests completed on the Oxide Gold Resource samples.

As announced January 4, 2010, the Company has been working with METCON Research, an affiliate of KD Engineering, on the metallurgical evaluation of its Oxide Gold Resource. Working in conjunction with the Company's mine site personnel, METCON Research has been supervising this metallurgical test program.

Highlights of the results from the Oxide Samples:


1. Crush size of 80% passing 3 inch achieved a gold extraction of 96.81
percent for the QZBX (Quartz Breccia) composite sample. Corresponding
Sodium Cyanide (NaCN) and Calcium Oxide (CaO) consumption was 0.21 kg/t
and 0.93 kg/t respectively.

2. Crush size of 80% passing 3/4 inch achieved a gold extraction of 97.02
percent for the 50% QZBX/50% Andesite composite sample. Corresponding
Sodium Cyanide (NaCN) and Calcium Oxide (CaO) consumption was 0.44 kg/t
and 1.57 kg/t respectively.

3. Crush size of 80% passing 3 inch achieved a gold extraction of 92.40
percent for the 50% QZBX/50% FQPO (Feldspar Quartz Porphyry) composite
sample. Corresponding Sodium Cyanide (NaCN) and Calcium Oxide (CaO)
consumption was 0.14 kg/t and 5.07 kg/t respectively.

4. Crush size of 100% passing 2 inch achieved a gold extraction of 94.97
percent for the Andesite composite sample. Corresponding Sodium Cyanide
(NaCN) and Calcium Oxide (CaO) consumption was 0.34 kg/t and 1.89 kg/t
respectively.

5. Crush size of 100% passing 2 inch achieved a gold extraction of 86.20
percent for the Saprolite composite sample. Corresponding Sodium Cyanide
(NaCN) and Calcium Oxide (CaO) consumption was 0.23 kg/t and 2.44 kg/t
respectively.

------------------------------------------------------------
Summary of Metallurgical Highlights
------------------------------------------------------------
Indicated Gold Recovery
Composite Identification (%)
------------------------------------------------------------
Quartz Breccia 96.81
------------------------------------------------------------
Quartz Breccia (50%) & Andesite (50%) 97.02
------------------------------------------------------------
Quartz Breccia (50%) & FQPO (50%) 92.40
------------------------------------------------------------
Andesite 94.97
------------------------------------------------------------
Saprolite 86.20
------------------------------------------------------------

The results summarized above have validated the initial metallurgical tests completed by METCON Research in their Tucson laboratory earlier this year and now confirm that the Oxide Gold Resources at the Molejon Gold Deposit are amenable to commercial extraction utilizing the heap leach process.

Richard Fifer, the Company's Executive Chairman, remarked that, "These results confirm our internal evaluation of both the importance and the added value that these oxide resources bring to Petaquilla and our shareholders. We have been working diligently on this project internally and with METCON Research for the past 24 months and these results will now move us into the final engineering, design and construction of the Heap Leach Project, which is designed to complement our mill production."

Phase 3 of the Heap Leach Project comprising final engineering and design has already commenced and is planned to be completed by February 2011. Construction of the associated infrastructure is planned to commence February 2011 and continue to June 2011 to take advantage of the traditional dry season in Panama.

These positive results now make available for further evaluation additional National Instrument 43-101 compliant resources of 96.7Mt at 0.21 g/t Au for a total of 641,976 gold ounces (Measured and Indicated categories at 0.1 g/t cut-off) and additionally 95.7Mt at 0.16 g/t Au for a total of 495,885 gold ounces (Inferred category at a 0.1 g/t cut-off) at the Company's Molejon and nearby satellite projects. These resources are in addition to the National Instrument 43-101 compliant resources of 28.3Mt at 1.0 g/t Au for a total of 911,023 gold ounces (Measured and Indicated category at 0.3 g/t cut-off) within the Molejon Gold Deposit.

In conjunction with moving the Heap Leach Project forward into the final engineering and design stage, the Company is continuing its program of updating its global resources estimate. As announced October 25, 2010, this updated estimate is planned to be released in the first calendar quarter of 2011.

Mr. Rodrigo R. Carneiro, P. Eng., Director of METCON Research & Process Engineering of KD Engineering & METCON Research of Tucson, Arizona, is an independent Qualified Person as defined by National Instrument 43-101. Mr. Carneiro supervised the metallurgical testing and verified the relevant data and technical information contained in this news release.

About Petaquilla Minerals Ltd. - Petaquilla Minerals Ltd. is a gold producer operating its gold processing plant at its 100% owned Molejon Gold Project in Panama. Anticipated throughput for the project during the first year of commercial production is estimated to be 2,200 tonnes per day. Commercial production commenced January 8, 2010. The Molejon mine site is located in the south central area of the Company's 100% owned 842 square kilometre concession lands, a region known historically for gold content.

On behalf of the Board of Directors of

PETAQUILLA MINERALS LTD.

Richard Fifer, Executive Chairman of the Board

No stock exchange has approved or disapproved the information contained herein.

Contacts:

Petaquilla Minerals Ltd.

Richard Fifer

Executive Chairman of the Board

(604) 694-0021 or Toll Free: 1-877-694-0021

(604) 694-0063 (FAX)

www.petaquilla.com

Perhaps I read this wrong?

I come up with 4,000/mo from plant by August. 3,000/mo. heap leaching by October. 1,000 per month Portugal by December. LP ore shipments by March 2015. All creditors on board who matter. One small lawsuit without merit. DB on board with extended interest FQM syndicate. Still in silent period for a while. ...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...

...The Company will target production in Spain and Portugal in the early part of next year...

Share price will probably continue to erode until a positive EPS reported for a quarter. I expect $0.03 to $0.04 in the meantime. If you want out...you better go now. Looks like a two year wait in my opinion to return to previous highs. Hard to really tell much else until Q4 audited report about September 15th 2014. Be nice to see unqualified report. Time to put on back burner for a few months. Survived the storm, but that is about it. PDI has some contracts yet. Cost per ounce will drop dramatically over the summer. Always interested in a PP at the right price now that storm has passed. Would like to see more transparency in reporting, but that will not come when every PR is criticized. What is the point?

Maybe make a trip to Spain and Portugal to look over operational progress.

Saludos,

Information you ask not appropriate for PR.

The 'plan' and application of funds would require another PR that goes beyond the detail of the initial PR that was very specific to the agreement.

As Digi said, that was the first shoe.

DB approved this deal and in fact is a source of the funds as FQM showed they are part of the syndicate. Did no one read their published documents?

Everyone is on board with the process accept for the guys with the little lawsuit that think they should be paid for services not rendered. FQM got one of those too for $90M I think. The one for $1M against PTQ has no merit.

Who said PDI has no contracts? Not true of course.

Who said Molejon has been "shutdown"? Not true of course. Does anyone here actually know what would be involved in such an action??? Not continually processing and shutting down are two very different things. Talk to someone with knowledge and experience.

Then there is the P&L impact. How about the millions of dollars that are in the A/P that are non-cash items? They disappear don't they. Do you even know what that means, let alone how many millions there are? It is all in the public records and the various SEDAR filings. If you don't have the education to understand the materials, blame yourself. It is not my fault.

You are aware that all creditors, except the little one, are on-board with the plan.

You should be aware that the reduction of force time line has run according to the laws and with MITRADEL oversight and that there are no workers owed any money. All that information is public.

Sooooo...if you don't like things as they have been done...sell and go away. You are just an annoyance.

First you complain that they should stop producing and then complain when they do. Then you complain that the concessions have no value, and then complain the rights were sold too cheaply. Then you complain that you do not like management; but then are against any restructuring of the BOD or operations.

Then the same complaints are cut and pasted back when the stock went from $3.00 to $0.04 to $3.33 to $0.18 to $1.29 to $0.20 where we are today. Check the chart!! LOL!!

As Digi says, some are here to constructively contribute to the process. Others just try to destroy the company with false statements and purposeful ignorance. Well...you guys lost and the future looks a lot better today by any measurable standard.

Sorry you need a bucket Bobby...are you throwing up or need something to carry money to the bank? Be calm and look at the percent of OS trading back and forth creating all your anxiety.
As Digi said, "Call me when ten or twenty million share are traded."

PTY-BUAY..Yes obviously higher! Wait until all of the information
is out and digested. Don't be panicked by the little cretins!! All is well and we are in good shape to go forward.

Saludos,

Obviously higher only confused clueless doubt.

1. No Dilution, Debt, or fees, More money than current market cap.
2. $0.275 money coming in to resume production.
3. Major gold deposits (Oro del Norte & Pamilla) kept.
4. PDI kept.
5. TERMINATION OF UNPROFITABLE AGGREGATE AGREEMENT!
6. Major exploration concessions kept.
7. Molejon kept.
8 Portugal kept.
9. LP kept.

Those who are bitter and wish ill for those making money will
cry and complain. Such is their lot in life...missed the boat
again!! LOL!!!!!!!!!!

Yes Bobby, I did buy heavily this week including today before the halt. This should be a very good month for both of us. Those shares bought at $0.17 are looking very nice right now!

FQM an honorable company kept their word to MICI.

"PETAQUILLA ES PANANMA"

May 15th is the formal SEDAR filing.

I have said this for weeks. There is nothing left to do between FQM and PTQ. I have said this for weeks. The deal is good for the company and took eight months to complete. I have said this for weeks. The time was about normal for any undertaking of this type. I have said that for weeks. Petaquilla was never for sale. I have said this for years. Yes four continents and jurisdictions were involved. I have said this for weeks. Spain is still there, Portugal is still there, PDI is still there, Molejon is still there, and all of our resources are intact. I have said this for weeks.

The proverb applies: Speak not into the ears of fools for they will despise the wisdom of they words!

The board would do well to listen to those who are engaged and do know the protocols, laws, and the truth. Instead we get vilification, sarcasm, purposeful lies, and patently false statements, like "insiders dumping shares!", "paid too much for LP",(Read the BD valuation report!),and many more stupidities from bitter little uneducated fools.

Those who said they will sell at $0.30 or $0.34 ($90M market cap) please do so and go away. PTQ certainly does not need your support, and you have nothing informed or intelligent to contribute. The criticisms will continue from the ignorant and obsessed, that is why they are on ignore.

Do I predict the share price short term? NO!!! Do I predict a great future for the company? YES!! My shares will still not be sold for less than $7.50/share. When that happens is really not relevant.

Soooo...YES!!! YOU WILL SEE!!!

LTS, there are NO ongoing negotiations.

Carlosc I agree with you.

Varela is a westerner from Herrera and understands the use of land and resources. He has been to Molejon and liked what he saw. Petaquilla is viewed as Panamanian and you know the motto of the Panamanistas. On top of that he is an Industrial Engineer graduate of Georgia Tech University and a "Bulldog!" forever. The US Government does not like him, but that may be a good thing right now. PRD would have been a total debacle for us and I believe Nararro would have shut us down in a minute.

Time to put SEC bumper sticker on car and get a T-shirt!!

Saludos,

ITS OVER!!

Short and simple...

1.FQM news explains impact on PTQ if you talk to them. News is out.

2.Specific PTQ details May 15th.

3.Check the historical record. DCA bi-monthly since 2000 yields a breakeven of $0.24. DCA bi-monthly since 8/2012 (Inmet begins to talk) yields a breakeven of $0.39. Facts and future looks very very good.

4.Arias pulling away. Time to get out the vote!

Long waits for material events block progress.

Those who are inside, and know the facts, are prevented from purchasing the stock. Likewise of course there is no dumping allowed either.

Post the holdings of an institution carrying the name of a leader and the ignorant immediately claim that this is the sole entity wherein this person has equity in the company. Scream, scream, scream total nonsense.

Point out that the addition of a board member to bring needed skills to the company and the ignorant immediately claim that can never help. Never mind it is successfully and routinely done by every large successful company everywhere in the world everyday.

The list could go on and on, but what is the point? Lincoln/Douglas long ago affirmed you need intelligence, education, introspection, and experience ON BOTH SIDES to have a two way debate. That is not found here.

Let's make this accumulation even easier to understand with a specific example. Formulas are way over the head of the other side.

PETAQUILLA
Accumulation since Inmet begins to attempt to take over company.
That would have been about August 2012 when they began sniffing around.

Using historical prices and accumulating shares for a grand child,(for example), and investing at the start of each month a small amount of perhaps $1,000.00 per month, one would have purchased 50,204 shares for $20,000.00. (excluding fees, etc.)

The current breakeven would be $0.39/share.

At this moment with the long struggle for survival coming to an end, and the path forward clear of obstacles caused by actions both micro and macro outside the company, is there really anyone out there that does not believe this will be a successful investment? If there is then you really should not manage your own money!!

In 100% hindsight could things have been managed for a better outcome? Certainly! However, even in baseball batting .300 is considered very successful. A Grand Slam overcomes three strike outs before. Especially if the pitcher was trying to hit you with every pitch. Then they kept changing the rules and moving the fence!

One need not feel sorry for those who did not invest properly and bought a bunch at $1.10 and just sat there and complained, and whined, and ranted while they lost their investment. It is their own fault,period. Certainly not investors by definition. When maybe a couple of years down the road the SP returns to $1.10 they can sell and breakeven having tied up their money for a long, long, time. Hooray!!!!!

Oh yes, then there was the guy who bought IBM at $4.00 and sold to soon at $12.00 two years later!!!I tripled my money and made $500,000.00 back in 1950's!!! Hooray for me, over, and over, and over.....but AH...IBM then went to $200.00/share!!! LOL!!! Mining will have a long life in Panama. Conservative buy FQM, speculative buy PTQ. Pretty simple.

As to traders, that is tough to do. Never has been anything I could accomplish with consistency. However, this has been a great trading stock for many years as Don Winner has often commented. But, it is out of my league.

So when the stock returns to its historical high, which it has done several times,(Check the chart! LOL!!), our hypothetical grandchild above will have a big help to start life thanks to prudent, professional, financial management, based on education, experience, and historical fact. If you do not have it...then hire it.

SURF&TURF FOR EVERYONE ON THE HOUSE MAY 4,2014!!! THINGS FINALLY CAME TOGETHER AND THE FUTURE IS 'GOLDEN'!!!

PETAQUILLA ES PANAMA! NO SE VENDE!!

Looks like your wavering...LOL!!

Lemming panic meets election cycle. OMG!!! Maybe it will go lower!!!
No worries...just a little panic and protection from PRD. Watch it turn around very soon. Recent gains were real. You need to get more involved with those who actually understand current events. Want to bet we will see a big increase next week if events go as expected???
Do not be led astray by false claims and statements about activities and dumping that are just lies. Only caveat left is election and I think CD will win. PTQ is moving forward...relax and have some surf&turf for dinner...life is good!

Yes it is time to buy...but we are running out of baskets to put all this low hanging fruit in today.

Hi DigiTech,

Seems all of our large stockholders, and BOD members, are continuing to buy aggressively with increasing percentages of their holdings. Interesting that some of the major institutional investors are also headed by members of our BOD. Of course they probably are not serious and have no idea about the 'deal' or the future. Just lost souls without a "modicum of Intelligence", education, knowledge, or experience. LOL!!

Top Institutional Holders

Sprott Asset ...
8.0M
$3,826,489 +41% 3.4%
Fifer (Richard)
4.4M
$1,759,780 +22% 1.9%
U.S. Global ...
2.7M
$613,653 +14% 1.1%
Gabelli Funds, LLC
2.5M
$585,970 +13% 1.1%
Dimensional Fund ...
805.3K
$178,583 +4% 0.3%
Kaplan (David)
445.7K
$179,517 +2% 0.2%
Neuflize OBC ...
390.0K
$105,748 +2% 0.2%
Schoellerbank ...
160.0K
$36,911 +1% 0.1%

Did anyone actually ever notice that the ATH of $3.33 was reached well after the much touted 'copper' sale? Those who sold later did sooooooo..much better. Amazing that Rick Rule and Eric Sprott "do not have a modicum of intelligence", memo....Be sure to remind them of the gutter's opinion of them next time we speak. How about those people who spend $5,000.00 just to hear them speak for a couple of hours???? Our largest stockholder and supporter too!!!

I note we are up about 40% now in the last couple of weeks, since we were stupid enough to buy some at $0.17....bet that "serious investor' was glad he sold to us "too soon". LOL!!!

Must be interesting conversation around the 'family' dinner table. I sold all my stock long ago and I have been posting about 8,000 posts on two boards for years trying to hurt the company wherein you all are invested. OH YEAH..I have a residual amount still. (Residual=scum in bottom of dirty pot!!) "Of course I sold, why should I have told you??? You are only family!!!"

VB, the idea would bring positive results.

As you know some of us have been discussing this for awhile. There is not much point in trying to have an intelligent discussion about this matter here.

Reasons:

1. Not many here have any experience with management at that level, never been on a BOD, and probably never even attended a BOD meeting other than perhaps an AGM, which is about as far from a working meeting as one be.

2. Not many here have any concept of how a corporation actually functions. Who reports to the BOD and individual members.

3. Not many here have ever even read our Corporate Bi-Laws, let alone actually understanding them.

Having said the above, you can be certain they have no idea how a board functions, the power and duties of a board member, the legal responsibilities of a board remember. Depending on committees very many positive things can be accomplished.

The last thing that most of the posters on this board want is for our company to be successful, which it will be. As you know there is one individual who has expressed some interest in undertaking the effort and would bring some unique strength and skills to us. It is still a long time until December and a lot of water to flow under the bridge between now and then.

For now, I am very happy with the strong steps we have taken to move forward. Looks like First Quarter was definitely the bottom and that is always a lagging indicator. Much better times ahead and Q2 will reflect that I am sure.

Right now, all eyes are on the election next Sunday. That will have a more profound effect on Petaquilla than anything else on the immediate horizon.

Saludos

Badge792, it is in Public Record in BC.

I am surprised you did not know that:

Agreement was reached with Red Kite for a $140 million loan to developed our assets and complete construction contracts. During that process Inmet tried their Hostile Takeover. When the loan was finalized with Red Kite, Inmet filed an objection with the British Colombia Supreme Court. Their position was that the finalized loan put them at a disadvantage to takeover the company and would close during the open period.

Both Inmet and Petaquilla filed briefs, and made various motions. Hearings were held. The BCSC blocked PTQ from closing and receiving the money. Several weeks thereafter they issued a written opinion that is also on record. Basically they ruled that PTQ receiving the money would make Inmets efforts moot and PTQ's much higher value would put Inmet at a disadvantage. Because of this ruling by the BCSC the loan could not be completed.

If you truthfully are asking about Red Kite, you can go to the public record in Vancouver and get all of the specifics. The hearings were done in public and nothing was sealed. You can review all of the documents if you wish. Inmet was bound and determined to crush PTQ. They won that battle, but lost the war being defeated seven straight times in Panamanian Courts over other issues.

Those who claim otherwise, or say nothing was ever heard, are just lying or were too lazy to follow the matter, that was widely known and done in the light of day in the courts. Some of our larger stockholders and analysts followed the proceeding very closely. The damage the BCSC did to the development of PTQ was the first major battle of this long war that has now concluded. Inmet is gone, and PTQ has survived, although it was greatly damaged.

We are now up 50% from our low in Germany and 37% in Canada. There will be plenty of good news and lots of details to review on May 15th. Maybe a PR before, but I have never liked PR's and always felt the company should only disclose things in accordance with their legal obligations. The next is the quarterly filing. Those who need to know are pro-active and do know...the rest don't matter and it not necessary to spend money communicating with them.

Hope this helps you to understand what happen with Red Kite. If you need more information there are several thousand pages in the public record that explain it in great detail. Anyone else who actually wants to know the facts can find it all right there in the Public Record. However, it is moot and has nothing to do with the future of PTQ, and Inmet no longer exists.

Saludos,

Bobby1231 sorry I confused you.

No, we did not buy the 800 shares. My children live on three continents and our family home is in Cologne where we built it in 1220. I am not sure about what you mean by group, but many whom we talk to daily, trade stocks and commodities in Germany, Canada, Russia, China, and a little in USA. Why that is important to you I have no idea. We have bought shares on the open market and through private placements as we see fit. My statement was truthful and accurate. We do continue to buy regularly and are very happy to acquire shares at these prices. I did not say we bought any yesterday and actually we did not. Does that make you feel better?

No one is 'claiming' anything, you sound like a truculent child.

Not that it is any of your business...but our friends, associates, and family,(guess that is what you call a group), have, I would guess, about 15% of the company or around 40,000,000 shares. Does that make you happy? We may have about 500,000 shares of FQM also. Now, what difference does that make? Does it make you happy? Do you wish us luck? Does is affect anything other than our ability to support our management team?

You talk abut buying 500,000 shares a day...good for you!! That is about the cost of a one week vacation from Panama to Spain for a family of four traveling first class. Better invested in PTQ than spent on Easter Holiday I guess...Navarro spends about that much every month flying his family to Disney World in Orlando in his new private plane.

I don't do level 1, 2, or 3 or whatever...I have a guy who does that kind of stuff. My immediate family's investment in stocks and bonds is probably less than 1% net worth. Not a big deal...we prefer real estate, mostly in BRIC countries lately, except India. Why are you interested and what has this to do with PTQ?

I am sorry you are sick and pissed yourself. Perhaps you should not be investing at all. I really expected more from you, and thought you were more informed. Check SEDAR next week and maybe you will be surprised. But then again you will have missed another chance to increase your wealth.

As to whether the market agrees with you or not...it really means nothing to me. The market knows very little of PTQ and volumes are never very large. That is why things can be volatile. I guess I saw some potential that was just not there....

Yes waiting a very long time...

Reasons:

Thirty-three or thirty-four different entities involved.
MITRADEL involved and a union involved.
Five languages and five legalize translations.
Five continents.
Eight Countries each with their own set of rules.
Between twenty-five and thirty thousand pages of documents.
More or less two-hundred attorneys and government bureaucrats involved.

Anyone with experience at a senior level in international business, would know that this is not just setting up, and setting the price on a lemonade stand in Podunk, Mississippi, or CR, BC. This has taken about five months since the vote of approval at the end of the first week of December 2013 in South Africa. While it may seem frustrating to those who are not informed and or not experienced, it has actually moved forward at a pretty good pace.

As to the immediate impact on share prices, no one knows. It may take a year or two for the plan to be fully implemented and results to show up in the P&L. Perhaps sooner??? The back and forth trading volumes, and share prices, only reflect a very small percentage of the Outstanding Shares that are chased back and forth. Irrelevant to the actual value of the company, that may be reflected when you see the results of selling a few assets. Those who need to know already do and the "deal" was consummated in principle long ago. The easiest guide is to research the filings with MICI and the Courts by both companies long ago. This set the frame work and spirit for all that has been done.

Everyone makes their own choices on whether to buy, sell, or hold. As usual, we continue to buy regularly and are very happy to acquire shares at these prices. IMO you will see some public news from the 'deal' prior to the Webcast of FQM on May 1st. You should be aware that there will definitely be news on May 15th from PTQ, if not sooner. So all the ranting, criticism, and writhing in pain in the gutter of vulgarity and insult really just reflects on the authors. Ignorant, meaningless, and ignored.

The last major project our firm worked on was with CISCO in Brazil; negotiations took three years, because the Japanese were involved. Fortunately we have Koreans in this deal.LOL!!

This is not that big a deal and six to eight months of details after the early December vote to go forward is about normal. Just relax and eat your Easter Eggs...be careful though one is gold and you will break a tooth!!

Looking for that big gold Easter Egg!!!

I know Mr. Bunny must have left it around here somewhere. So much false BS has been slung around here...the weeds are well fertilized by the trolls and it takes a long time to search. I know it is here somewhere though...he never lets me down!!!!

If you have not done so make application.

Following Jal's famous confession and disclosure herein..."If I had any information I sure as hell would not post it on this board!" (paraphrased maybe) The place to learn about the actual facts relative to PTQ are available on the PTQblog.It is an invitation only source of accurate up-to-date information on what is transpiring within the company; formed by the moderator here when it became impossible to continue here because of the false information left to stand herein, poisoning this board as well as SH. If you have not applied, you might want to make yourself available of factual, accurate, information. If you have applied and been turned down because of your past actions do not bother to re-apply. Subscribers are kept abreast of actual events transpiring within the company and other news that has a direct baring on future operations and profitability. Intelligent questions are responded to on a timely basis by experienced, educated members. With the reorganization, it may become a direct line to have your input taken into serious consideration. The above is a personal opinion and not developed from an input either from the blog or the company.

By the way...that was great news we received this week!!! Again, just my opinion...Love that Easter Bunny!!!! Looks like there will be plenty of eggs!!

Must be another personal attack, TROLL ALERT!

VB I have no idea where your post is coming from. I assume a troll attack of some kind from the unwashed and ignored. Don't know why we are counting languages???? Oh well...for the record most of our BOD members speak three or four. Most of our large investors speak the same number. About have of our employees speak two. Personally I speak two and one-half, my children speak mostly speak three, my one daughter speaks nine, my grand children all speak at least three. So that makes me the most uneducated member of the family. Some one needs to explain exactly what that has to do with PTQ???

On another tack, the election is vital to PTQ. PRD's Navarro has pledged to shut down Petaquilla and re-study mining for several years. FAD and the other smaller parties promise to unite and to nationalize us throwing out all foreign interests. Panamanistas have not taken a formal position that I am aware of today. Arias and CD promise to continue as things have been in the past five years. This election is hugely important for our future in Petaquilla and for Panama. That is why everything else is pushed aside with a very close election coming. Here is an editorial this morning from La Estrella explaining the possibilities. You will note the total vacuum created by the USA over the last five years in Central and South America is showing itself as country after country fall toward the Chinese or Russian influence. If you don't think that this will not affect Petaquilla you are very, very wrong. We are fortunate that our company is considered Panamanian by the pueblo. If you know anything about history of Latin America,(Chile, Brazil, Venezuela, Mexico, Bolivia, Nicaragua, Cuba) then you know that FQM is much more vulnerable. Our agreements will become public soon and are very good in company specific matters, but all is overshadowed by this election.

La Estrella 17/4/2014
"If José Domingo Arias was elected president on May 4 there is a set of possible scenarios. All have three common factors will continue with an economic policy that impoverishes the Panamanian population. Foreign militarization continue its pace. The U.S. embassy will continue to lead the country's foreign policy .

If Arias wins, there could be a first scenario : The country would face almost immediately, to an internal struggle between the outgoing president and the new president Martinelli . The struggle will generate a situation of lawlessness that would last the entire five year period. Another scenario is that Martinelli achieves Arias replacement with the vice president ( Mrs. Martinelli ) through an agreement with other political forces. Finally , Arias could win the hand Martinelli , using the resources of the Presidency and the support of the U.S. embassy.

What if a candidate wins the traditional opposition parties? Both have said during the campaign that they would continue with the same policy that is destroying the fabric of the country . The militarization continue its pace. The PRD and the Panamanian Party (1989-2009) signed the first post-invasion military agreements with Washington and promoted the construction of 15 military bases by U.S. No reason to think that would change the role of the U.S. embassy in defining the country's foreign policy.

The current President Martinelli would contest the election victory of the opposition. He would request a recount, accuse judges , political parties and civic groups to mount a fraud conspiracy. Seek support in Washington, the Israeli- conservative lobby in the U.S. capital as well as the far-right groups that surround some leaders of the Latin American region . It is very likely that the U.S. embassy would remind Martinelli that they have no friends, only interests . A statement of this kind would neutralize any move by the Supreme Court of Panama.

Before a remote possibility to triumph FAD (far left) party organized by labor and other progressive sectors of Panama or the independent and leftist Juan Jované candidacy is likely that all the traditional parties would unite to find a way to block the rise of a government of this kind . The FAD or Jované probably pose a serious economic reform. Policies would destroy the 'drip' of neo-liberal ideologues and execute a policy instead of productive employment with huge surpluses that provides the operation of the Panama Canal . Would end the militarization of foreign country. At the same time , foreign policy recover abducted 25 years ago by the U.S. embassy.

In five years , their economic policy , based on a national development plan , double the wealth, making Panama the most prosperous country in the region . Consumption indicators and capitalist profit rate would skyrocket exceed that of the last ten years.

A rule of this kind would be attacked , as was the Popular Unity in Chile in the 1970s , the FMLN in Nicaragua and Venezuela from 1998 to the present. Why? The answer is simple . Speculators lose the ' overruns ' totaling billions of dollars, govern with transparency , multimillion grants for importers , bankers, real estate developers and speculators would be eliminated.

Shock troops SENAFRONT serving domestic and foreign speculators who built with government subsidies hydro-power in the region of indigenous peoples would stop . No soldiers SENAN be mobilized to attack communities of the Gulf of Panama , whose islands ( Pedro González is an example) have become illegal tourism businesses renter families , who never tire of stealing land from peasants.

Arias or any of the opposition candidates of the traditional parties can win in 2014. Jované But the FAD and are laying the groundwork for what will be a struggle to be defined sooner rather than later . The country has to find another way that allows all Panamanians become responsible and productive citizens. The wealth of the country are wasting , creating fortunes based on speculation and at the same time, the street throwing working families in cities and in the countryside ."

Badge792 you are out in left field.

You should be buying, not complaining and selling.

TWO PR's have been released pushing it forward, then yet forward again, then....nothing. Remember the first one's target being the end of FEB. WTF were they thinking.

Things were settled with FQM way back in February. You can check with the London office if they will talk to you. That deal was wrapped up in February as planned.

You have no clue about the complicated entities that are involved; all with their own sets of attorneys. I think there are more than thirty groups; then government regulations and protocols in five jurisdictions. Progress has been made settling issues each step of the way. Perhaps if you actually did DD, or hired someone to keep you abreast of the situation, you would not be wandering in the wilderness. Talk to any of our large stockholders. They make the effort to stay pro-active and well know exactly what has and is taking place. Our Balance Sheet will be greatly improved.

It is MID APRIL and there seems to be nothing on the horizon which causes the POS to sink into the ground.

That is just plain nonsense and diametrically opposed to the facts on the ground, as those involved could tell you. Instead of inquiring, you just ride along with the ridicule and pontification produced on this board. Most is posted by people who have absolutely no knowledge of the actual status of the situation.

You wonder why nothing is shared by those who actually know something? I can give you two good reasons: 1.It is privileged. Therefore disclosure is barred by law. 2. Many are following Jal's statement of his philosophy, and I quote, "If I knew anything I sure as hell would not post it on this board!" That is the attitude that has been prevailing here for some time.

Why do you think that those who have recently been to Molejon, met with management in Penonome, and dined with our people at FQM and PTQ in Panama City, chose to keep pertinent information to themselves? Why do you think information and photos are no longer shared in the I-Box? Think about it? Stockholders have been in Spain, Portugal, Panama, and at meetings in Vancouver all recently. Yet there is nothing posted or shared here.

Buy under $0.30 and sell above $0.50 if you are trading. It is just that simple. If you are long term, plan on being here until Cobre-Panama is up and running, probably 5 X a good PE Ratio by then. Management has been engaged and has put together a very good plan going forward. I am sure you realize that they are major stockholders and heavily invested in the ultimate welfare of the company.

THOSE WHO DO NOT BELIEVE IN THE EASTER BUNNY OR SANTA CLAUS ARE DOOMED TO A LIFE OF MISERY. I CANNOT HELP THEM!!!!

Wonderful day in the neighborhood!

All is quiet waiting for the Easter Bunny. Panama City already starting to empty for the Holiday vacation. Tomorrow the last official work day, but most executives will be slipping out right after lunch, if not before. Around noon Thursday all the Official stuff shuts down. Life is good if you have already booked a room or have a family place to spend the holidays.

Looks like we may have squeezed out the last of the trolls today @$0.168. Seems fitting we will get our new shot at life this time of year. It certainly was a difficult and challenging time. Those who are aware, and see the way forward in the new business plan, are relaxed and happy. Looks like everybody is going to benefit. No time to gloat...just let the numbers flow and speak for themselves.Those who missed the boat are probably used to that sort of thing.

Some are predestined to their lot in life. But, without them life would be more difficult for the rest of us. The only remaining piece of the puzzle is the election. Looks like it will be close, but Arias should pull it off. Varela-gate will pull some more votes to CD as they follow Mireya. No one seems to want to go to PRD.Only ten more days left to campaign before the quiet period.

So if you bought your shares while you had the chance, then sit back and enjoy the show. Lots of notes and details will be in the May 15th P&L's along with the MD&A. Even before then there may be some price appreciation. I was hoping for some single digit days before we turned back up. But that door is closing very fast.

02/1997---$3.05
12/2001---$0.04
09/2007---$3.33
04/2014---$0.16
12/2018---$X.XX ????????

We have been up and down before and our time is coming again. Don't be dissuaded by ignorant, agenda driven predictions. One positive improvement would be a new BOD member, but that is for December. There may be one or two ready to move on and make space. Mining is going forward in Panama no matter what. Just too much money involved. Will be easier under CD, but it will happen even if they lose. The big prize in the west has not even been awarded yet. More Au, Ag, Cu there than everywhere else combined. Indigenous want a piece of the pie and to join together with someone highly regarded by the Catholic Church. Big push coming out of David. Richer parishioners mean bigger collections and that has been the story in Latin America for five hundred years.

So have a great holiday and be sure and thank the Easter Bunny and his helper who guided us through these tough times.

Saludos,