Petaquilla Produces 6,000 Ounces of Gold per Month in Panama

Since operations began in January 2010, it has had sales of $36 million, paid production expenses of $21 million and sold each ounce for between $945 and $1,152.

Tuesday, July 6, 2010

The company was granted mining rights on 18 November 2009 and will pay the state 4% of gross earnings over the 20 years it plans to operate.

Each ounce of gold Petaquilla extracts costs the company $600.

Environmental groups remain concerned at the speed in which permissions were granted.

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Petaquilla Enters Leasing Agreement for $ 9.1 Million

October 2010

The gold mine project Petaquilla, located in Panama, agreed a leasing structure with a national bank for the purchase of heavy machinery.

According to a company press release, the agreement was made between the bank and Infrastructural Development Panama, SA (PDI), a company's infrastructure subsidiary.

Panamanian Mine Gets an Additional $11.6 Million

March 2010

Petaquilla Minerals, a Canadian company, has placed $11.62 million, and will invest them in its 100% owned Molejon Gold Project, located in Panama.

In a press release, the company explains that the funds will also be used for exploring the “Oro del Norte” concession, also located in Panama, and for working capital.

Panama: $11.5 Million for Gold Mine

December 2009

Canadian corporation Petaquilla Minerals, owner of the gold Mine Molejón, placed shares for $11.5 million.

In a press release, Petaquilla announced it has negotiated a non-brokered private placement of 24.000.000 common shares at a price of Canadian $0.50 per share ($0.48) for gross proceeds of Canadian $12.000.000 ($11.510.00).

Petaquilla gold mine in Panama ready for operation

December 2008

Petaquilla Minerals Ltd, based in Vancouver, will begin to produce gold in the next few weeks at the Molejon project in Panama.

The project will produce 100,000 ounces of gold in 2009 and will maintain that level for at least six years, Bassam Moubarak, company financial director, said to Reuters.