Petaquilla Minerals Ltd. to Begin Gold Production
Petaquilla Minerals Ltd. released news this morning providing details of the progress made at its 100% owned Molejon gold mine in central Panama. As mentioned, the Company is in the final stages of completing its Molejon gold production facility and has scheduled its first test production for the latter part of December 2008.
With respect to the production estimates provided for the first twelve months of production, the Company would like to remind readers that the projections are based on information currently available to the Company. However, the Company does not have a feasibility study and there is no assurance that these projections will be realized. No representation or prediction is intended nor should be implied regarding the economic viability of the Molejon Project based on presently published results.
Petaquilla Minerals Ltd. is an emerging gold producer scheduled to bring its 100%-owned Molejon Gold Project into production in 2008. Anticipated throughput for the project during the first year of production will be 2200 tonnes of ore per day with an estimated gold production of 100,000 ounces. The plant utilizes three ball mills and a carbon-in-pulp processing facility.
