Petaquilla Minerals' flagship Molejon Gold Mine is located in the Colon Province of Panama approximately 130 kilometers west of Panama City.
Gold production started in April 2009 and reached commercial production in January 2010. On/off heap test leach pads were successfully started in the beginning of September 2011 with full production anticipated by the end of the year.
|
QUICK FACTS |
|
|
Location: |
Panama |
|
Type of Mine: |
Open Pit |
|
FY 2011 Gold Production: |
55,566 ounces at $634 Cash Cost per Ounce |
|
FY 2012 Production: |
68,002 ounces |
Production
During the first quarter of Fiscal 2013 Petaquilla sold 17,230 ounces of gold and 24,300 ounces of silver representing sales of $25.5 million and $0.5 million, respectively. Cash cost per ounce of gold sold during the first quarter of Fiscal 2013 ranged from $550 - $600, as originally anticipated.
Production and Financial Highlights
|
Q1 2013 Preliminary results |
|
|
Gold ounces mined: |
33,475 - increased by 6% compared to previous quarter. |
|
Gold equivalent production sold: |
17,597 ounces - increased by 13% compared to previous quarter. |
|
Gold ounces stockpiled as at August 31, 2012: |
112,266 - increased by 17% compared to the end of previous quarter. |
|
Gold production inventoried: |
4,691 ounces - increased by 35% compared to previous quarter. |
|
Revenue: |
$25.5 million - increased by 6% compared to previous quarter |
|
Cash cost per ounce of gold sold: |
$550 - $600 |
|
Cash position as at August 31, 2012: |
$12.5 million - increased by 4% compared to the end of previous quarter |
|
Fiscal Year 2012 (ended May 31) |
|
|
Net income: |
$22.4 million, increased by 683% compared to fiscal 2011. |
|
Gold production: |
68,002 ounces, increased by 22% compared to fiscal 2011. |
|
Gold equivalent production: |
69,503 ounces, increased by 23% compared to fiscal 2011. |
|
Gold stockpiled: |
95,897 ounces, increased by 282% compared to fiscal 2011. |
|
Revenue: |
$94.3 million, increased by 32% compared to fiscal 2011. |
|
Cash cost per ounce of gold equivalent sold: |
$574, decreased by 8% compared to fiscal 2011 |
|
Operating margin: |
$34.9 million, increased by 74% compared to fiscal 2011. |
|
EBITDA: |
$24 million, increased by 289% compared to fiscal 2011. |
Resources
Revised Technical Report for Molejon, Vancouver, BC - May 8, 2012
Molejon Gold Mine – UPDATED
|
QUICK FACTS |
|
|
Location: |
Panama |
|
Type of Mine: |
Open Pit |
|
FY 2011 Gold Production: |
55,566 ounces |
|
FY 2012 Gold Production: |
68,002 ounces |
Petaquilla Minerals' flagship Molejon Gold Mine is located in the Colon Province of Panama approximately 130 kilometers west of Panama City. Gold production started in April 2009 and reached commercial production in January 2010. The company completed an expansion of its plant in late 2012 with the addition of a fourth ball mill and currently operates at a rate of 3,500 tonnes per day. The company expects to further increase production through its on/off heap leach pads facility with full production during FY 2014.
During FY 2013 the company anticipates to produce between 75,000 to 80,000 ounces of gold equivalent ounces at a cash cost guidance between $550 to $600 per ounce gold equivalent.
Production and Financial Highlights
|
Q3 2013 Preliminary results |
|
|
|
18,000 ounces |
|
Gross Revenue |
$27.5 million |
|
Net Income: |
$15.8 million |
|
Cash cost per ounce of gold sold: |
$637 |
|
Earnings per share |
$0.07 |
|
Fiscal Year 2012 (ended May 31) |
|
|
Net income: |
$22.4 million, increased by 683% compared to fiscal 2011. |
|
Gold production: |
68,002 ounces, increased by 22% compared to fiscal 2011. |
|
Gold equivalent production: |
69,503 ounces, increased by 23% compared to fiscal 2011. |
|
Gold stockpiled: |
95,897 ounces, increased by 282% compared to fiscal 2011. |
|
Revenue: |
$94.3 million, increased by 32% compared to fiscal 2011. |
|
Cash cost per ounce of gold equivalent sold: |
$574, decreased by 8% compared to fiscal 2011 |
|
Operating margin: |
$34.9 million, increased by 74% compared to fiscal 2011. |
|
EBITDA: |
$24 million, increased by 289% compared to fiscal 2011. |
Resources
Revised Technical Report for Molejon, Vancouver, BC - May 8, 2012