Petaquilla Minerals Ltd. (fka PTQMF)

[Chileanmafia]

If you remember - it was the Ambassador of the US who brought both Martinelli and Varela together to form the Grand Alliance - which say the CD and Panamenista parties join under the same ticket and then went on to beat the PRD in the presidential elections.

Once in power - Martinelli has worked tirelessly to consolidate power - however he still needs Varela to hold on to power. Right now Martinelli wants to change the electoral code - which means that in order to become President (taking into account the new proposed legislation) you need 50% of the vote instead of a popular majority amongst all parties.

Under his proposed system - the PRD (the largest party in the country) and the CD would be the two parties that would face each other in the second round of voting - thus knocking out the Panamenistas - Varela knows this and so his diputados are not supporting this and to slow down Martinelli they have thrown the mining law into the debate.

Martinelli knows he has to be careful with this as he got his ass kicked last March when he wanted to implement Law #8. The problem for us is that the proposed changes in Law #8 had nothing to do with us - meaning PTQ - but we took a beating from it indirectly.

The only group that Martinelli has no control over are the Indians - who make up between 10 to 15% of Panama's population - if Martinelli is going to pass a new mining law he will need their support.

There is a very large group of indians in Panama that support mining on the condition that they get a piece of a project called Cerro Colorado - so hopefully Martinelli will work with these guys and we get a peaceful resolution to the implementation of a new mining law.