Inmet Mining and Petaquilla War Goes On

Panama's government has rejected a request to reject exploration permits and mining operations at the San Juan area.

Wednesday, September 26, 2012

Inmet Mining asked the Department of Mineral Resources of Panama to reject all applications for exploration and exploitation of mineral concessions affecting Minera Panama, a subsidiary of Inmet Mining. This request includes in particular include the San Juan concession, of 11.145 acres, operated by Petaquilla Minerals, a company which Inmet Mining is currently attempting to buy through a hostile bid.

By decision 2012-509, September 25, 2012, the Department rejected the request by Inmet Mining, alleging that it was filed out of time and without merit.

In a press release, Petaquilla Minerals said it is committed to the development of all areas of mineral potential over which it has rights in the Petaquilla mining district

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Inmet Mining Wants to Buy Petaquilla Minerals

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Inmet Mining has announced its offer to purchase common shares of Petaquilla Minerals for $114 million in cash or shares.

The offer represents a premium of 37% compared to yesterday's closing price of Petaquilla Minerals shares on the Toronto Stock Exchange.

A statement from Inmet Mining reads:

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