Petaquilla Minerals Ltd. (fka PTQMF)

[VBgood]

“The proceeds from the private placement will be used for general working capital purposes.”
As far as I concern - it can be used for anything, paying DB loan off or purchasing new machinery for JV.
Let’s rewind the tape , people.
If Progafa would not start new rumor about company buy-out for $.70 - everyone would be satisfy that company raised money in that very tough environment. That would be a good news.
But since almost everyone looked on Progafa as some kind of messiah and bought into his rumor- suddenly prudent move on behave of the company not so good anymore. BOD made very good calculative decision, no matter what happens -
Today - rock is money, BOD did what needs to be done.