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3/31/14

You may be wondering what's happening over at Petaquilla Minerals (PTQ.to)

According to the company, all is calm and they're in this somewhat protracted negotiation with First Quantum (FM.to). No matter that the company said they'd have a deal in February. And then by the end of March (hint: today's the end of March). All is well, you can trust us, we're a gold miner etc.

According to locals, the workers at the mine haven't been paid any monthly salary since before Christmas and now the company has sent the workers home, the mine is practically abandoned and the scumbag Fifer who runs the shop is trying to annul all its contracts. Oh, and he's busy writing $250k cheques to his wife that subsequently bounce. Oops.

And according to the books, PTQ owes a veritable shitload of money in financial loans due this year (working cap negative $111.5m as at Dec 31st). Which may be something to keep in mind.