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Canadian miner Petaquilla Gold on a roll over first six months of operations

Wednesday, July 7, 2010


Canadian miner Petaquilla Gold has been on a roll since the Panamanian administration of Ricardo Martinelli approved its permits after a three-year wait.
 
The company launched commercial production on January of this year, since when it has extracted 6,000 ounces of fold a month at prices ranging from $945 to $1,152 per ounce.
 
In the first six months of this year, sales reached $36 million, though production costs reached $21 million. The company says its production costs are some $600 an ounce.
 
Original source (in Spanish): La Prensa