After the company failed to appear twice, the Ministry of Labor and Workforce Development (Mitradel) of Panama has announced that it will liquidate the assets of the company in order to compensate employees.

Luis Ernesto Carles, head of Mitradel told Panamaon.com that "... Now the bulk of the goods is about to be offered for sale. An audit has already been performed and we are are currently checking financially how much the inventory is calculated to be in order to proceed with the sale of goods. "

Moreover, Jorge Obon, Petaquilla Minerals' spokesman added that "... In effect the company inventory rose a while ago, and last Friday, 4 they requested the copy of this from the ministry, but they have not heard anything regarding the sale of goods. "

Source: panamaon.com

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