969 0 Kommentare Petaquilla Minerals Ltd. Announces Increase in Revenue and Reduction in Cash Cost for Its Fiscal 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2013) - Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announces its fourth quarter and annual operational and financial results. Currency is reported in United States dollars unless otherwise indicated.

	Fourth Quarter FY 2013⁽¹⁾				FY 2013⁽¹⁾
Gold Production			11,912 ounces			67,493 ounces
Gold Equivalent Production			12,191 ounces			69,181 ounces
Cash Cost		$	540		$	569
Total Revenue		$	24.1 million		$	110.7 million
Revenue From Gold		$	20.4 million		$	95.9 million
Revenue From Aggregates and Construction Services		$	3.7 million		$	14.8 million
Operating Profit		$	0.5 million		$	36.0 million
EBITDA		$	(4.4 million	)	$	23.1 million
Adjusted EBITDA		$	0.0 million		$	35.0 million
Average Spot Gold Price		$	1,473		$	1,601

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On August 19^th, 2013 the Company announced a change of its fiscal year-end from May 31^st to June 30^th and consequently, 4^th Quarter of fiscal year 2013 and the total fiscal year 2013 include operations for a period of 4 months and 13 months, respectively. The British Columbia Securities Commission, the Company's home-country securities regulator, has accepted and approved the presentation of a 13 month period ended June 30, 2013.

In fiscal 2013, compared to fiscal 2012, the company saw increases in revenues, operating margin, Adjusted EBITDA and reduction in cash costs. This has been substantially due to the economic benefits derived from a new and promising cash-flow stream generated by the aggregate business of the Company, compensating for the reduction in gold prices during the last quarter of fiscal 2013. Although maintaining its plans for the future spin-out of Panamanian Development of Infrastructures, S.A. ("PDI"), the Company will assess all alternatives to best allocate its capital taking into account the short- to medium-term volatility of gold prices and the potential for the Company of PDI's new aggregates business with First Quantum Minerals ("FQM"). The spin-out of PDI can only be executed upon the repayment of all the outstanding Deutsche Bank debt and the Company is currently negotiating several financing alternatives toward this objective.