Petaquilla Minerals Ltd. (fka PTQMF)

[mjkiii]

FQM has been studying steps since September.

When they finally received access to the data room at Inmet they were able to confirm many of their plans. They will move very rapidly to extricate themselves from agreements where they have their own expertise.

"...that saw it pledge to slash costs at the open pit operation by employing in-house expertise rather than Engineering, Procurement, and Construction Management (EPCM) firms."

These are not areas where we interacted with Inmet and we will probably benefit from FQM's more lean operation techniques. They will not waste money on cap/ex they do not need. (i.e. Quarries) and certainly work with us instead of wasting money trying to buy us out, as some here keep dreaming. They committed to the Government and the Panamanian people to work for the benefit of all parties.