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Monday, June 17 2019 @ 03:08 PM UTC

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PTQMF, Green Light by Panamanian Govt to Its Molejon Gold Mine

Gold & MiningPTQMF, X-Tra Hot Stock Alert by PennyOmega.com - PennyOmega.com is pleased to announce its X-Tra Hot Stock Alert! - PTQMF is an emerging gold producer commissioning the operation of its gold processing plant at its 100% owned Molejon Gold Project. Anticipated throughput for the project during the first year of commercial production is estimated to be 2200 tonnes per day. The plant utilizes three ball mills and a carbon-in-pulp processing facility. The Government of the Republic of Panama has granted approval for PTQMF's Molejon gold mine to advance to the commercial production stage. PTQMF's Molejon will be the Panama's first mining project of modern times.
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Petaquilla Gold Mine in Panama Poised To Take Off

Gold & Mining By DON WINNER for Panama-Guide.com - It's been a bit of a roller coaster ride for the Petaquilla gold mining company in Panama. On August 15 2005 the mostly forgotten stock was languishing at 35 cents per share, but with the election of Martin Torrijos the government of Panama passed a new law allowing for the development of gold and copper mineral deposits at their Molejon facility. Shortly thereafter the company began efforts to raise capital to build the project. The stock got as high as $2.64 on 17 July 2006, and then peaked again at $3.33 per share on 24 September 2007. However the company ran into some serious problems with their partners, Inmet Mining and Teck Cominco, and in fact most observers began to have serious doubts that Petaquilla would ever actually become a producing gold mine. There were also lingering doubt surrounding the abilities of Petaquilla's CEO Richard Fifer, a former governor of the province in Panama near where the Molejon gold mine is located. Confidence in the stock whithered. 2008 was a very bad year for the stock. It opened the year at $3.27 any by 8 December 2008 it had been crushed, falling to a mere 32 cents a share. Now it appears Petaquilla might finally be poised to actually deliver on the promises they've been making for the past several years. This is a quick analysis of what happened, and what might be coming next. (more)
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PicksThatMove.com Announces Investment Opinion on Petaquilla Minerals Ltd.

Gold & MiningNEWARK, Del., Nov 18, 2009 (BUSINESS WIRE) ----PicksThatMove is pleased to bring investors special situation stocks which have a high potential for price appreciation. These companies have interesting business models and they have to execute on the business development level to bring value to shareholders. Some of our past picks had soared over 200%. To view some of our profiled stocks, please visit our website at www.picksthatmove.com. At PicksThatMove, our team scours the technical and financials of hundreds of companies to identify those stocks showing the greatest potential for growth. The investment opinions offered below and in this press release are provided by Nick Hunter, RIA, of PicksThatMove.com - Petaquilla Minerals Ltd. (TSX: PTQ), $0.415, +$0.19, 84.44%, is a mining company with main interests in its 100% owned Molejon Gold Project in Panama. PTQ's shares reached a high of $0.44 today, with a current volume of 6 million shares traded, compared to yesterday's close of 1.7 million. Petaquilla announced that the Government of Panama granted approval for PTQ to begin its commercial production stage at the Molejon gold mine, further stating that Molejon will the first mining project of modern times in the country and it encouraged the company to proceed with the highest standards of responsible mining as it opens the way to a socially and environmentally conscious mining industry in Panama.
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Petaquilla Poised to Explode - Probably A Very Good Thing For Panama

Gold & MiningBy DON WINNER for Panama-Guide.com - Today Panama's Ministry of Commerce and Industry (MICI) issued a letter to the Petaquilla gold mining operation (PTQMF) authorizing them to go ahead with full commercial production. Earlier this month most of the Board of Directors of the company resigned from their positions. In response, the company appointed Mr. Joao Manuel as the Company's President and Chief Executive Officer. Knowing what I do about the way things work here in Panama, I suspect the removal of Richard Fifer from the primary positions of power in the company was a prerequisite from the government of Ricardo Martinelli, as a condition before they would issue this letter authorizing the company to go ahead with full commercial production. The stock has been heavily traded over the last two days, and right now it's just over the 52-week low. Apparently it will now be "full speed ahead" for Petaquilla in Panama, which I consider to be a very good thing. The government of Panama stands to make a substantial amount of money from the production of gold - under the terms of the concession they get paid for every ounce produced. As of this writing gold is at $1,148.10 per ounce, and when development first started on this mine they projected it would be profitable if gold was above $300 per ounce or so. And according to their most recent press release, the company said "Since testing of production commenced resulting in the Company's first gold pour on April 7, 2009, the mine has produced a total of 25,699 ounces of gold." Meaning, the gold they have already produced in just seven months has a street value of more than $29.5 million dollars. I expect Petaquilla to finally start producing serious and significant revenues for Panama - in the form of more jobs, increased tax revenue, and additional direct and indirect benefits from increased foreign direct investment. This is exactly why I've been supportive of this project, because in the end the people of Panama will benefit. And of course those who are invested in this project will make about 1.5 buttloads of money. But hey, it's just business, right? Let's hope Petaquilla lives up to their commitments to mitigate potential environmental damage, and that they remain an active partner with the local communities where they are working for the long haul.

Copyright 2009 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

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Most actively traded companies on the TSX, TSX Venture Exchange markets

Gold & Mining(From Two Days Ago - 16 Nov 2009) TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange and the TSX Venture Exchange: Petaquilla Minerals Ltd. (TSX:PTQ). Miner. Down five cents, or 18.87 per cent, to 21.5 cents on 7,746,015 shares. The company's shares traded heavily for a second day in a row after its board appointed Joao Manuel as president and chief executive officer last week. The company's executive chairman, chief executive and most of its board resigned earlier in the month.
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Petaquilla Minerals Ltd.: Panamanian Government Authorizes Commercial Production at Molejon

Gold & MiningPress Release - Petaquilla Minerals Ltd. is pleased to announce that the Government of the Republic of Panama has granted approval for Petaquilla's Molejon gold mine to advance to the commercial production stage. In accordance with Contract Law No. 9 of February 26, 1997, the Ministry of Commerce and Industry of the Government of Panama issued a letter to the Company dated November 18, 2009, authorizing Petaquilla's subsidiary, Petaquilla Gold, S.A., to initiate commercial production at its Molejon gold mine located in the District of Donoso, Province of Colon, Republic of Panama. The Government of Panama highlighted that Molejon will be the country's first mining project of modern times and encouraged the Company to maintain its highest standards of responsible mining as it leads the way to a socially and environmentally conscious mining industry in Panama. The Molejon gold mine is currently in its final stages of full commissioning. Since testing of production commenced resulting in the Company's first gold pour on April 7, 2009, the mine has produced a total of 25,699 ounces of gold. About Petaquilla Minerals Ltd. - Petaquilla Minerals Ltd. is an emerging gold producer commissioning the operation of its gold processing plant at its 100% owned Molejon Gold Project. Anticipated throughput for the project during the first year of commercial production is estimated to be 2200 tonnes per day. The plant utilizes three ball mills and a carbon-in-pulp processing facility. On behalf of the Board of Directors of PETAQUILLA MINERALS LTD. Joao C. Manuel, President and Chief Executive Officer (See Comments)
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Richard Fifer Out of Petaquilla

Gold & MiningVANCOUVER, BRITISH COLUMBIA -- (Marketwire - 11/06/09) - Petaquilla Minerals Ltd. is pleased to announce that Mr. Joao Manuel has been appointed as the Company's President and Chief Executive Officer. Mr. Manuel joined the Company in December 2008 as its Chief Operating Officer after serving as the Chief Financial Officer of Petaquilla Copper Ltd. He will be leading the Company into its future production development phases and the continued exploration of the Petaquilla mining district where it owns a 100% interest in several large mineral concessions adjacent to the Molejon gold mine site. Additionally he will focus on the creation of shareholder value through the spin-off of the Company's fully owned subsidiary, Petaquilla Infrastructure Ltd., which was incorporated for the construction, operation and management of infrastructure facilities required for the development of the mining industry in Panama. The Company is also pleased to announce that Mr. Richard Fifer, who has been involved with the Company's interests in Panama since 1992, will serve as non-executive Chairman of the Board of Directors. The Board of Directors is looking forward to working with Mr. Manuel and Mr. Fifer in their new capacities. In addition to the management changes above, the Company announces that it finalized a US$5,000,000 financing facility to strengthen its capital position as it advances the Molejon gold project to the commercial production stage. In this regard, the Company will shortly be providing a year-to-date report on gold production and an update on moving the mine into full commissioning.
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Inmet's Panama project meets expectations so far

Gold & MiningBy: Liezel Hill - TORONTO (miningweekly.com) – Canada's Inmet Mining is on schedule to have the final social and environmental impact study ready and finalise the front-end engineering and design (Feed) for its Cobre Panama project by the first quarter of 2010, president and COO Jochen Tilk confirmed on Wednesday. The company has completed a drilling programme on the project, and is compiling the data it will need for mineral resource and reserve statements. A reserve estimate for Cobre Panama (previously known as Petaquilla) will have to wait for final pit designs, a mine plan and the completion of the Feed study, but Tilk said that the results of the latest drilling programme have been “very consistent” with Inmet's expectations. “And we are confident that the final mineral reserve will align with our objective of a minimum 30-year mine life at 150 000 t/d throughput rate,” he said on a conference call. The company plans to begin detailed engineering on the project no later than the middle of 2010, Tilk said. Assuming all goes to plan, and permits are not delayed, the company still believes it can have construction completed by the end of 2014. (more)
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Camipa: Mining ban would be unconstitutional - Panama

Gold & MiningBy Harvey Beltrán / Business News Americas - Panama's mining chamber Camipa said that a ban on mining in a large portion of land near the Coiba national park would be unconstitutional. "The constitution of Panama establishes that all references to mineral resources be governed by the mining law and this law clearly allows mining areas to be created," Camipa executive director Zorel Morales told BNamericas. According to Morales, the proposal - which was approved by the national assembly's environmental committee last month - creates a legal contradiction that must be resolved. For Morales the ban only proved that environmental groups want to use this proposal as a taking off point to set up no-mining areas across the entire country. However, Morales said he was optimistic that the bill will not pass the first round of committee debates. "We know the government will not support this type of initiative," he said. Recently, the Panamanian government said it would study the best way to improve the mining sector's development through national mining law reform, but without reducing the nation's fiscal stability.
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Protestors Close Road to Petaquilla Mine for 13 Days

Gold & Mining
Farmers Protest Against Petaquilla Gold Mine
Farmers Protest Against Petaquilla Gold Mine
- By Elena Valdez for the Panama America - Protest - they say they will stay right where they are until they are given a solution. In spite of conversations had between the farmers and the Governor of the Province of Colón, Julio Kennión, the road that goes to the Petaquilla gold mine has been closed for 13 days. The farmers say they will not go away until the mine is closed definitively. The situation in Coclecito has not improved, because while the farmers take turns manning the trenches, the managers of the company have asked for the government in intervene to open the road. The problem - Since more than five years ago, the farmers from different communities, in addition to the local native people, have been against this mining project because they say it is contaminating the environment. It also harms the people who live there because they depend on the earth and water to survive. They have carried out protests, street closings, long marches, and even vigils. Rufo Lorenzo, who worked for the mining company as a security guard, says he is worried because everything the company says is not true. He said they are doing it wrong, because they are contaminating the rivers. The Company - Leonel Arosemena, of the Petaquilla mining company, said that none of the studies realized by ANAM, MICI, the Office of the Ombudsman (Defensoria del Pueblo) or by health authorities have found that the mining company is contaminating the environment. He says they have tried to talk with the farmers, but that they do not want to talk, and on the contrary they have committed acts of vandalism against the company, such as burning down houses and temporary facilities. On the subject, Darío Fernandez, the Governor of Coclé, said he is waiting for the Governor of Colon to say what action will be taken to avoid confrontations between the employees of the mine and the farmers.
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Dominion Purchases 100% of Cerro Chorcha Copper Project from Bellhaven

Gold & MiningNEW YORK, April 20 /PRNewswire-FirstCall/ -- Dominion Minerals Corporation and Bellhaven Copper & Gold are pleased to announce that the parties have consummated a Stock Purchase Agreement, whereby Dominion has purchased Cuprum Resources Corp., the Company that owns 100% of the Cerro Chorcha Concession, from Bellhaven, thereby purchasing 100% of the Cerro Chorcha Copper Project. Dominion purchased Cuprum for a sum of US$2,500,000 and 6 million shares of Dominion. This includes the US$1,000,000 previously paid and 4 million shares previously issued by Dominion to Bellhaven under the Exploration and Development Agreement between the parties. (more)
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Petaquilla pours first gold at Molejon mine in Panama

Gold & MiningBy: Liezel Hill TORONTO (miningweekly.com) – Vancouver-based Petaquilla Minerals poured the first gold at its wholly-owned Molejon mine, in Panama, on April 7, as part of the commissioning process. Pit site preparation and the testing of production equipment at Molejon got under way in January, and the firm has since begun testing the gold-room recovery processes. Petaquilla expects that the processing facility will reach its full rated capacity of 2 200 t/d in June. The Molejon mine is expected to produce 100 000 oz of gold during its first full year of production. Petaquilla also said on Thursday that it continues to work with the Panamanian environmental agency Autoridad Nacional del Ambiente (Anam), “to ensure an orderly transition from pre-production to the commencement of commercial production”. The company reported in November that, although the environmental impact study for the project had been approved, Anam had mandated a number of measures that must be taken by the company, in addition to its existing plans. However, after reviewing the conditions, Petaquilla said that some of the measures were “inapplicable” to the Molejon operation, and that others had already been satisfied by the company. The firm subsequently established a special working group to cooperate with Anam, to ensure that all conditions are satisfied or waived, so that full commercial production can begin as scheduled. Shares in Petaquilla Minerals rose 14,6% on Thursday, to C$0,51 apiece by 15:45 in Toronto. Edited by: Liezel Hill
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Holy Shit! Petaquilla Announced They Have Started Gold Production!

Gold & Mining

By DON WINNER for Panama-Guide.com - I just received the following via email: "What the hell's going on with Petaquilla do you think? Have you heard anything? It's up nearly 70% over the last few days from .30 to .50. Chuck" When I checked, I found this press release from Petaquilla that they put out last Thursday:

  • Petaquilla Mine Commissioning Update

  • Thursday April 9, 2009, 8:30 am EDT

  • VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 9, 2009 -- Petaquilla Minerals Ltd. (the "Company") (Toronto:PTQ.TO - News)(OTC BB:PTQMF.OB - News)(Frankfurt:P7Z.F - News) is pleased to provide an update on the commissioning of its wholly-owned Molejon Gold Mine in Panama. As previously announced the Company had initiated pit site preparation and testing of production equipment in late January. Subsequent testing of the gold room recovery processes resulted in a first gold pour on April 7, 2009. The Company maintains its previous estimate that the processing facility will reach its full rated capacity of 2200 tonnes per day in June 2009.

  • Further to the Company's news release dated January 16, 2009, the Company continues to work closely with the Autoridad Nacional del Ambiente ("ANAM") in compliance with ANAM's Resolution dated November 26, 2008, approving the Company's Environmental Impact Study Category III and will continue to collaborate with ANAM to ensure an orderly transition from pre-production to the commencement of commercial production.

  • On behalf of the Board of Directors of PETAQUILLA MINERALS LTD. Richard Fifer, President and Chief Executive Officer

And, Here We Go... Has anyone told ANAM? Has Petaquilla paid the outstanding $1 million dollar (plus) fine? Does anyone in Panama know that, according to Richard Fifer, Petaquilla is now an active and operating gold mine in Panama? This is going to be good...

Copyright 2009 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

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Petaquilla Announces US$40 Million Convertible Senior Secured Notes Financing and Repricing of Warrants

Gold & MiningVANCOUVER, BRITISH COLUMBIA, Mar 27, 2009 (MARKET WIRE via COMTEX News Network) -- Petaquilla Minerals Ltd. (the "Company") (TSX: PTQ)(OTCBB: PTQMF)(FRANKFURT: P7Z) is pleased to announce that it has negotiated a private placement of Convertible Senior Secured Notes of up to US$40,000,000. Each Note in the principal amount of US$1,000 is convertible into common shares at CAD$2.25 per share. The Notes will bear interest at an annual rate of fifteen percent (15%), of which the first 12 months' interest shall be prepaid in full at the time of issuance of the Note. All interest payments will be grossed up for Canadian withholding tax, if any. (more)
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Dominion Minerals Chief Executive Officer Resigns

Gold & MiningNEW YORK, March 20 /PRNewswire-FirstCall/ -- Dominion Minerals Corporation announced today its Chief Executive Officer, Manuel Jose Paredes, has resigned as the Chief Executive Officer and from the Company's Board of Directors. Mr. Paredes had served as Panama's Under Secretary of Commerce until last year and his responsibilities included oversight of Panama's mining and resource sector. Mr. Paredes is now resigning in order to avoid potential conflicts of interest which may arise as a result of his former position. As a result of Mr. Paredes' resignation, the Company's Board of Directors has appointed Pini Althaus, the Company's former Chief Executive Officer and current Chairman of its Board of Directors, as interim Chief Executive Officer. The Company will resume its search for a permanent CEO, whose focus will be on moving the Company forward with its Cerro Chorcha project in Panama. Dominion would like to thank Mr. Paredes for his service to the Company in his capacity as a Chief Executive Officer and Director. Commenting on his resignation, Mr. Paredes stated: "I am thankful for the opportunity to work with Dominion. However, both Dominion and I believe that it is best to avoid even the appearance of impropriety. I wish Dominion and its employees and management the best of luck and a bright future." About Dominion Minerals Corp. and Cerro Chorcha - Dominion Minerals Corp. is a US-based copper and gold exploration and development company focused primarily on its Cerro Chorcha Project in Panama.
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