Petaquilla Minerals Ltd PTQMF

Ahh Soooooo

[wwadehammer]

Thank you oullins for your excellent posts.  The best news is that the 11 twined drilling holes confirmed previous drilling results  The picture becomes clearer.  So 7 months to a year from now, the plan is to start shipping an average of 1,000 tons of ore per day to Panama.   Based on the previously issued NI 43-101, ore will contain an average of 4.5 grams of gold per ton plus some amount of silver.  They will ship ore to Panama for two years while they build another processing plant in Spain that will average through-put of 1,000 tons of ore per day. Based on that, we should pour 80,000 to 90,000 ounces of gold for the next 12 months which includes an estimate of 18,000 ounces from heap leach.  Assume low end to be safe and you get $40 million in profit for FY 2014 not counting PDI.  That assumes net profit per ounce of $500.  In fiscal years 2015 and 2016 if things go according to plan, the richer ore from Spain will result in an  increase output of gold from the Panama mill to 106,000 ounces.  Add in 18,000 ounces from heap-leaching for a total of 124,000 ounces of gold.  Give that number a net profit of $500 an ounce and you get net income of $62 million a year (25 cents a share profit) not counting PDI.  One year at $040 million and two years at $62,000,000 is enough to finance the cap-ex costs in Spain plus lots left over.  Maybe we don't need to borrow money after all.   Hooray!  All this is based on estimates from company MD&As and oullin's data but it seems reasonable.  Things are looking up but we will have to wait over a year to get there.  Hope it all comes together.