Vancouver, BC - October 20, 2014: Petaquilla Minerals Ltd. announces that it does not expect to file its audited annual financial statements for the 13 months ended July 31, 2014, and its management's discussion and analysis relating thereto (collectively, the "Required Filings") before the prescribed deadline of October 29, 2014.
Vancouver, BC - October 1, 2014: Petaquilla Minerals Ltd. Announces that it has arranged a bridge loan of US$18 million (the “Bridge Loan”), which is expected to close within the next few days, to provide funding for general corporate and working capital purposes. The Bridge Loan represents interim financing to support the operations of the Company and shall be repayable by the Company one year from the closing date.
Vancouver, BC - July 22, 2014: Further to its news releases of May 8, 2014 and May 27, 2014, Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") announces the closing of the amendment to the Commercial Agreement Term Sheet dated May 23, 2013 (the "Second Amendment") executed May 8, 2014, between the Company and Minera Panama, S.A. ("MPSA"), a subsidiary of First Quantum Minerals Ltd.
Vancouver, BC - May 27, 2014: Further to its news release of May 12, 2014, Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") announces that it has executed the early payout of the existing gold and silver prepayment agreements, as well as the convertible loan previously negotiated with Deutsche Bank AG and, consequently, has obtained the full release of all existing encumbrances on the Company's assets.
Vancouver, BC - May 12, 2014: Further to its news release of May 8, 2014, Petaquilla Minerals Ltd. (“Petaquilla” or the “Company”) announces that its commercial agreement with Minera Panama, S.A., a subsidiary of First Quantum Minerals Ltd., both formalizes their commitment to the economic and social development of the Petaquilla mining district in Panama and provides the Company important capitalization to advance its growth strategy.
Welcome to Petaquilla
Petaquilla Minerals Ltd. is a gold producer that operates its wholly owned Molejon gold mine in Panama and owns exploration and development stage projects in Spain and Portugal. The Molejon mine commenced commercial production in January 2010 and has production capacity of approximately 3,500 tonnes per day. The mine is located in the Donoso District, Colon Province of Panama, 130 kilometres west of Panama City and is adjacent to First Quantum Minerals Ltd.’s world-class $6.5 billion Capex Cobre Panama copper project.
The Lomero-Poyatos Project is a polymetallic deposit located near Huelva in the Andalusia autonomous community of Spain in the prolific Iberian Pyrite Belt, which extends from southwestern Spain into Portugal. The Company also is moving forward with the nearby San Telmo project, which was historically mined for principally zinc and some gold credits in the 1960s. The Portuguese gold projects, Banjas and Jales-Gralheira, are formerly producing mines located near the Oporto region.
Panama Development of Infrastructures, S.A. (“PDI”) is the wholly owned infrastructure, mining services and construction subsidiary of Petaquilla Minerals Ltd. PDI is an active participant in Panama’s infrastructure industry and is well positioned in the emerging mining services sector. PDI is currently engaged in aggregate mining and sales. The company is analyzing new business opportunities to increase PDI’s portfolio of projects and to resume its plans to spin out PDI to Petaquilla shareholders with plans to go public 12 months after the spin out.