PANAMA – For the second consecutive year Petaquilla Gold, a subsidiary of Petaquilla Minerals of Vancouver, has received public recognition for being the largest exporter in Panama in 2011. The designation commemorated at an event in Panama City by the Panamanian Association of Exporters (APEX).
Petaquilla owns and operates the Molejon open pit and processing plant in Panama. It poured its first gold in April 2009, and in the six months ending Nov. 30, 2011, it poured 36,114 oz to go with its stockpile of 63,878 oz. The Molejon project is expected to produce 95,000 oz of gold in fiscal 2012 at a cash cost of between US$500 and US$600 per ounce. The company also has two exploration projects in the country.
Petaquilla is expanding production at Molejon by boosting grinding and processing capacity and adding a third drum scrubber and a new horizontal carbon-in-column (CIC) circuit.
Visit Petaquilla.com for more information on the company’s properties in Panama and Spain.