Petaquilla Minerals Ltd. (fka PTQMF)

[DetVicMackey]

I tip my hat to those who predicted for a NR before the AGM. This financing news is very good since all doubts of the debt being repayed are now crushed. PTQ won't have to pay 18% interest on the outstanding debt. The $30M can also earn 4 months of interest before it is applied to elimate the debt given our grace period into March. However, management may decide to close the debt before November 30 just to make the balance sheet look clean for FYQ2 earnings. Either way, PTQ can now promote itself as a debt free 100koz+ producer. Dilution of 30M shares is not that big and now cashflow from Molejon can be reinvested for heap leach and exploration. It seems PTQ will now have sufficient working capital going forward.

The pricing @ $1.00 is very nice considering that it could've been priced lower several months ago with more dilution. Management did well for shareholders by being patient and waiting for the stock price to rise. I also like the pricing of the $1.45 warrants too.