Petaquilla Minerals Ltd. and First Quantum Minerals Ltd. In Discussion Over Panama Operations Property Rights
Vancouver, BC - March 31, 2014: Further to its news releases of February 18, 2014, and March 3, 2014, Petaquilla Minerals Ltd., and certain of its wholly owned subsidiaries (collectively, "Petaquilla"), announces that it is in discussion with First Quantum Minerals Ltd., and certain of its subsidiaries (collectively, "First Quantum"), with respect to the relationship between Petaquilla and First Quantum in order to ensure the development of the Cobre Panama copper project is optimized.
Vancouver, BC - March 3, 2014: Further to its news release of February 18, 2014, Petaquilla Minerals Ltd. confirms that negotiations are continuing on a material agreement. Agreement was not reached by the end of February 2014 as previously indicated but all parties are now hopeful that if the negotiations are successful it will be during March 2014.
Petaquilla Minerals Ltd. Nears Closure on Material Transaction and Informs All Parties are Committed to Closing by the end of February 2014
Vancouver, BC - February 18, 2014: Petaquilla Minerals Ltd. confirms the Company is in the advanced stages of a negotiation process, the conclusion of which will result in a major material event for the Company and its shareholders. All parties involved expect the aforementioned negotiations to close by the end of February 2014.
Petaquilla Minerals Ltd. Provides Notice of Trading Suspension and Cease Trade Order
Trading Expected to Resume Next Day
Vancouver, BC - November 25, 2013: Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") announces that the Toronto Stock Exchange has suspended trading of the Company's securities as a result of a Cease Trade Order ("CTO") issued on Friday, November 22, 2013, by the British Columbia Securities Commission ("BCSC").
Vancouver, BC - November 21, 2013: Petaquilla Minerals Ltd. Announces that it has negotiated and closed a non-brokered private placement of 14,285,714 Units at a price of $0.35 per Unit, raising gross proceeds of $5,000,000. The proceeds from the private placement will be used for general working capital purposes.
Welcome to Petaquilla
Petaquilla Minerals 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. Petaquilla’s 842 square kilometre concession area is located in the Donoso District, Colon Province of Panama, 130 kilometres west of the Panama City. The Molejon mine is adjacent to First Quantum Minerals’ world-class $6.2 billion Capex Cobre Panama copper project, which is being developed by Minera Panama, S.A. (MPSA).
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. Lomero-Poyatos is fully permitted, with bulk sampling expected to begin in FY 2014. The company’s Portuguese gold projects, Banjas and Jales-Gralheira, are former 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. PDI is well positioned in Panama’s infrastructure and emerging mining services sector, particularly the Cobre Panama copper project and Panamanian civil projects. PDI is currently engaged in aggregate mining and sales to MPSA with a minimum of US$75 million and up to US$100 million over three years. The company plans to spin out PDI to Petaquilla shareholders with plans to go public 12 months after the spin out.