Petaquilla Minerals (PTQMF) Posts Gold Production Results and Forecasts
Petaquilla Minerals Ltd., a gold producer operating in Panama, today announced that its gold production for the fourth quarter of fiscal 2011 was 16,735 ounces, an increase of 30 percent compared to the third quarter of 2011. The company’s previous estimate for the fourth quarter was gold production between 16,000 and 17,000 ounces. During the fourth quarter of fiscal 2011, the company installed a new horizontal Carbon-in-Column Circuit designed to improve the efficiency of gold recovery from the milling system. In addition, the company reported a 5 percent increase in gold sold, reaching 14,533 ounces and representing a 12 percent…