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Petaquilla Minerals closes forward deal on gold from mine in Panama

Friday, September 24, 2010

Vancouver-based Petaquilla Minerals has completed a $45-million prepaid forward gold purchase agreement with Deutsche Bank.

The company, which started production early this year at its Molejón gold project, in Panama, will deliver 66 650 oz of gold to Deutsche Bank over a five-year term.

The ounces committed represent only about 6% of the firm's total resources, Petaquilla said.

Original source: Creamer’s Mining Weekly