Petaquilla Minerals Ltd. announces preliminary first quarter results
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2011) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announces that gold poured during its first quarter of fiscal 2012 has continued its upward trend totalling 18,014 ounces, an increase of 8% compared to the previous quarter. Actual gold mined equalled 61,227 ounces resulting in 43,213 stockpiled gold ounces for the Company's on/off leach pad project, which commenced production this week as previously forecasted.
Gold sales during the quarter generated approximately US$26.3 million, an increase of 25% compared to the fourth quarter of fiscal 2011, with cash costs per ounce of gold sold continuing to be in the range of US$550 – US$600.