Petaquilla Minerals Ltd. (fka PTQMF)

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In three years the price of the shares of Petaquilla Minerals has lost 70% of its value on the Toronto Stock Exchange, Canada.
The roles of the company that was awarded the concession to extract gold in the Molejon mine in the district of Donoso, Colon Province, in 1997, closed on Friday December 5 in 0,037 bps, when on 15 February 2011 was exchanged in 1.26 dollar.
Petaquilla Minerals comes by dragging a situation of low liquidity, a crisis which has reached its breaking point at the end of 2013, when the company decided to suspend the removal of gold due to the fall in the price of ore in the international market; coupled with the increase in production costs, especially in the electricity bill.
The decline in activity in Molejon was reflecting on the value of gold exports of the country. In 2011 Panama exported gold for a total of $108 million, while in 2013 the figure fell to $66.4 million. In 2014 only exported gold in the first quarter, by a figure of over $1,000,000 .
Spokesmen for the company ensures that the mining you will receive an injection of capital before the end of the year, allowing you to cancel the debt keeps with suppliers and former employees. In the last year Petaquilla gold declined by 50% its payroll and currently employs 600 workers. In October, the Ministry of Labor and Workforce Development ordered the precautionary Petaquilla goods that kept in his office located in the town of Penonome, province of Cocle, to ensure that the company will cancel the payment arrears to its workers, as well as the payment of wages to the collaborators who had been dismissed.
The company has accepted that owes some $3.5 million to former employees, but indicates that the labor authorities cannot put the sale of a company's assets to cancel that debt.
Shareholders of the company have requested that the board of directors, headed by Richard Fifer, allow a restructuring of the mining because of the paralysis which maintains in Molejon.
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