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Re: investor20501 post# 22565

Thursday, 10/31/2013 8:05:42 AM

Thursday, October 31, 2013 8:05:42 AM

Post# of 26631
They may or may not expand on this today.

FQM has some major issues in Africa, and the recent fire, so that may take up most of the questions. However, I might add that I believe some of the issues they found in Panama related to at least three things:

1. Location and engineering for the power plant and grid.

2. Location of the major infrastructure for camps, permanent buildings, administration, etc. was in the wrong area.

3. The time lines related to planning were not scheduled 'just-in-time' properly particularly with the roads and electrical grid.

Timing is critical if the project is to be completed on time and within the new budget. Petaquilla obviously stepped up and increased their supply of road building materials and equipment supply to assist FQM in correcting some of the major issues. This was done even at the expense of production and equipment usage at Molejon. This is how companies develop good synergistic relationships.

Those who bothered to archive the Inmet Cobre-Panama plan can compare it with the new FQM plan and you will see there are major differences, both in content and schedule. Inmet was arrogant, disrespectful, incompetent, and way over their heads. Inmet is now in the dust bin of history.

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