Replies to post #26420 on Petaquilla Minerals Ltd. (fka PTQMF)

[badge792]

So we have apparently secured the money but now our biggest hurdle is possibly losing the concession. Fuck me this is a mess. I guess they will just grease some palms and all will be good.......eventually.

Here is a simple plan.....PTQ pays their debts and everyone is happy....get rid of Dick and the rest of the BOD......then the concession can be given back to them. How hard is that plan to follow ??????? I thought these people were supposed to be smart

[redflame]

So PTQ was declared bankrupt. The article indicates the concrete company withdrew from the court case because the company thought they had a better chance of collecting if PTQ started up production again. That means that the assets weren't near enough to cover back wages other debts. No surprise there.The concrete company probably would have gotten pennies on the dollar in bankruptcy. That means there's still a lot of other debt that will have to be paid off before they build up any cash flow to avoid going into bankruptcy again. Need to see financial statements after they get the $25 million. Don't they get another $5 million from the FQ deal in July? No way to tell if PTQ will stay above water.