Replies to post #15058 on Petaquilla Minerals Ltd. (fka PTQMF)

[Peta bull]

PTQ alwasys said there base scenario was underground mining confirmed by this report. Furthermore this is also the preferred scenario for the spanish authorities. Why would this be negative?

[mjkiii]

Did you read the revised 43-101?

You are easily confused. When the twinning holes are done the next 43-101 will be filed and the open pit will commence on time as explained thoroughly in the revised 43-101. The addtional drilling stage #1 is required to bring record current enough to be used as a 43-101. That will show the open pit for the first eight years will be very nice inasmuch as it was marginal at $330.00oz. gold. At $1,250.00 gold it is very "achievable". As explained in great detail, the time line will not be altered by the need for more drilling that had to be done in any case before production that is four years away would begin. I do not believe you were unable to see that in the revised report and now you appear to be trying to manipulate the share price, perhaps to buy in a little cheaper. I spoke at length with PTQ in Vancouver not more than four hours ago to make certain that my understanding of the revised 43-101 was correct. I would suggest you do the same, if you are truly confused and not just playing a game.

READ THE PRESS RELEASE AGAIN CAREFULLY AND TRY TO UNDERSTAND EXACTLY WHAT IS SAID. IT IS NOT THAT DIFFICULT!

[mjkiii]

Just for you JustForFun7.

May 25, 2012 /CNW/ - Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") reports that a revised technical report relating to its Lomero-Poyatos project (the "New Lomero-Poyatos Report"), prepared by Behre Dolbear International Limited ("Behre Dolbear"), was filed on SEDAR yesterday. The New Lomero-Poyatos Report had been submitted to the British Columbia Securities Commission and addresses the deficiencies noted in the Company's May 3, 2012 , press release. In particular, the New Lomero-Poyatos Report no longer includes the Inferred Mineral Resource Estimate for an open-pit mining scenario that was included in previous disclosures by the Company (at a €50 value cut-off = 20. 6 Mt at 3.1 g/t Au, 69.9 g/t Ag, 3.3% Zn, 1.2% Cu, 1.2% Pb. Containing 2.1 Moz Au) as a result of (1) Behre Dolbear concluding that the previously disclosed open pit resources do not have reasonable prospects for economic extraction at the present time; and (2) not meeting the definition of "mineral resources" under NI 43-101. Accordingly, previously disclosed open-pit resources have been removed from the New Lomero-Poyatos Report. (They will meet the definition after stage #1 drilling twinning the holes and bringing data current.)
In addition, the economic valuation for the Lomero-Poyatos property that had been included in previous disclosures by the Company has been removed from the New Lomero-Poyatos Report on the basis that there is no current economic analysis for the property. (It will be comming after stage #1 drilling!)
The information contained in the New Lomero-Poyatos Report supersedes and replaces all information previously provided by the Company with respect to the Lomero-Poyatos property. However, the Company notes that the Inferred Mineral Resource Estimates in the New Lomero-Poyatos report confirms the Inferred Mineral Resource Estimates previously disclosed by the Company for an underground mining scenario.
Inferred Mineral Resource Estimate
The Lomero-Poyatos deposit is a poly-metallic massive sulphide deposit which, with the application of potential underground mining constraints, is estimated to have an Inferred Mineral Resource Estimate of 6. 07 Mt averaging 4.25 g/t of gold, 88.74 g/t of silver, containing 0.83 Moz Au. (830,000oz. of AU with the combined value of the other metals equivalent to another 830,000oz. equivalency of AU still stands in revised report!) The Inferred Mineral Resource Estimate contains only mineralization within the >25% S mineral envelope using a 1 g/t Au cut-off for an underground mining scenario. The deposit also contains some minor copper, lead and zinc values but, due to increased precious metal prices, the Lomero-Poyatos deposit is considered primarily as a gold project with base-metal by-products.
This Inferred Mineral Resource Estimate was produced by Behre Dolbear working with Gemcom Software Europe Ltd. and is based mainly on the 2001 to 2007 CMR drill-hole data. The mineral resource at the property was estimated by creating a 3-dimensional geological block model of the sulphide deposit based on a >25% S cut-off mineral envelope and then creating a mineral resource block model of the gold-silver-copper-lead-zinc mineralization. The Inferred Mineral Resource Estimate in the New Lomero-Poyatos report is based on a 1 g/t Au cut-off, assuming that the most likely means of production will be by rehabilitation of the existing underground mine workings.
Behre Dolbear believes that the Company should continue to examine the economic viability of open-pit operations of the lower-grade near-surface mineralization in addition to the current underground scenario as the previous studies of the deposit were completed at much lower metal pricing than is currently achievable. (It was marginal at $330.00/oz., it will be very, very good at $1,250.00/oz. and excellent at current POG!)This could potentially expand the defined Mineral Resources at the property if these studies should show that this portion of the in-situ mineralization, which is currently excluded from the estimated mineral resource, could possibly become economically extractable.
There are no known environmental, legal, tax, marketing, political or other factors that might materially affect the Resource Estimate. (Good news!)
The Qualified Person, who has prepared the technical information in the New Lomero-Poyatos Report is Richard Fletcher , from Behre Dolbear, and he is independent of the Company. Mr. Fletcher has approved the technical information, supported by the New Lomero-Poyatos Report, contained in this news release.
About Petaquilla Minerals Ltd. Petaquilla is a growing, diversified gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select

[Implanting]

No doubt a different spin all together. Now it becomes a much more expensive venture to try and mine underground, which wasn't even addressed in the PR. How will these new findings affect what they will do there going forward?

This is the part I don't get. "In addition, the economic valuation for the L.P. property that had been inclued in previous disclosures by the Company has been removed from the New L.P. report on the basis that there is no current economic analysis for the property."

So they don't know or can't give a valuation on a property they just dropped over $40 mill. on? Even if the inferred resources haven't changed the big question now is how much more will it cost to get those resources out of the ground?

So now it appears we have an underground mine, which changes the complexion of this purchase completely. I want to know now what it's going to cost per oz. to mine, export, and mill this Spanish gold. This deal is appearing to not be as sweet as everyone here thought it was. What else is new.