Martinelli and Varela Visit Petaquilla Gold Mine

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) Petaquilla Minerals Ltd. is pleased to announce that the President and Vice-President of Panama, Ricardo Martinelli and Juan Carlos Varela, visited the Company's Molejon gold mining project yesterday. During their visit to Petaquilla's mine site and tour of the Molejon gold plant, Messrs. Martinelli and Varela were able to observe the successful extraction of and production of gold. Since commercial gold production commenced, the Company has generated employment, greatly contributed to the development of Panama, particularly the mining industry, and has become the largest exporter in Panama.

Editor's Comment: What? Petaquilla is now claiming to be the "largest exporter in Panama"? OK you Petaquilla guys, please contact me. I want to know the details. I suspect you're talking in terms of the dollar value of the gold that's being produced, right? This could potentially be huge from an information management point of view. I would also like to see the numbers and the math - how much money has Petaquilla already paid to the government of Panama in terms of royalties or taxes (whatever it's called) for each ounce of gold produced? What is the true and accomplished production thus far, to date. What is the total projection for 2011? And (doing the math) how much money will the government of Panama expect to receive during 2011 as a result of that production - only talking about the money generated from the concession and taxes or royalties - not indirect which I understand is both significant and quite possibly more important. But from an information management point of view - this line of being the "largest exporter in Panama" is a potential game changer. Please call or write - 6614 0451 or don@panama-guide.com. Thanks.

source : Panama-guide.com