I have listed these two PRs as reference in regards to refreshing our memory ..,,,,,
Vancouver, BC - July 17, 2012: Petaquilla Minerals Ltd. ("Petaquilla") today announced that it intends to offer on a private placement basis US$210 million aggregate principal amount of senior secured notes due in 2017 (the "Notes"). Petaquilla intends to use the net proceeds from the offering to finance capital expenditures related to its Lomero-Poyatos mine in Spain and Molejón mine in Panama, to fund a cash investment in Panama Desarrollo de Infraestructuras, S.A. ("PDI") in connection with the spin-off of PDI, to terminate its obligations under its existing prepaid forward minerals contracts, to repay a portion of its existing indebtedness, for general corporate purposes and to pay related fees and expenses.
Vancouver, BC - October 3, 2012: Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") reports that Moody's Investors Service ("Moody's") assigned first-time ratings to Petaquilla consisting of a Caa1 corporate family rating ("CFR"), Caa1 probability of default rating, Caa1 senior secured rating to its proposed US$210 million notes, and a speculative grade liquidity rating of SGL-3, indicating adequate liquidity. The Company plans to use the net proceeds from the notes offering to primarily fund the development and expansion of its mine and mineral exploration properties and repay existing indebtedness. The ratings outlook is stable.
In regards to the July 17 PR, I understand that the PP was put on hold so to speak near the end of the HT, but what the hell is going on with it.? In a few more days it will have been four months Since the PR was put out. Is it the feeling that they will not proceed with the PP until the land issue is dealt with ? By that, I mean they wont need as much money if and when funds comes in from Inmet for land access / purchase ? I bring this up because posters have mentioned as soon as we secured the Caa1 rating, that it was a pre cursor to securing the PP.
Oh and don't forget about the AGM at the end of the month.....that should be interesting.
