Petaquilla Minerals Ltd PTQMF

Workers Not Paid

[wwadehammer]

Zack article confirms that PTQ workers protested and shut down access to the plant because they weren't paid in late December 2013.  That's less than a month ago.  PTQ is still on the ropes.  December 31, 2013 was the end of the second quarter.  How many weeks of production were lost due to the shutdown.  It's obvious that the second quarter was a disaster like the first quarter if payroll couldn't be met.  Gold production hasn't come back yet.  This just keeps getting worse and worse.   Zack doesn't say anything about FQ withholding $2 million in payments caused the failure to meet payroll.  Isn't that what some posters over on IHUB were saying?  We've got to be very close to bankruptcy if we can't pay the workers.  Why Zacks gave them a neutral rating instead of a sell rating is beyond me.  Management must of given Zacks something to project a target price of 73 cents in the next six months.  I would like to know what that was.  Can't think of anything except management showing results to date of negotiations to sell the company.  Very strange.

Oh, and Zacks says management is considering sueing over the loss of Lom Poy.  Good luck with that given that PTQ doesn't have enough money to go to a trade show or pay it workers much less paying fees for lawyers.  What a circus.