Honored with a knighthood of the Virgen of Guadalupe, Spain
Richard Fifer …
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Tag Archives: Molejon
Investing in gold mining shares
The Richard Fifer – Gold Mining stocks are a popular way of investing in gold – albeit indirectly.
The perceived advantage of investing in gold mining shares is that their value is usually more sensitive to the price of gold than even a gold bar. This is because gold mining shares are valued on the basis of their anticipated profits through the life of the mine, and these depend on the reserves, and on the relationship between gold mining production costs and the anticipated value of the gold extracted.
Suppose a gold mine has 1,000,000 ounces underground and the above ground value is $1,000 per ounce. If the production cost is $800 per ounce the mine will make $200,000,000 over its life. But if the gold price rises by 20% to $1,200 the mine will make $400,000,000 overall. This demonstrates a ‘gearing’ effect of 4 times – i.e. for a rise in bullion of 20% the share will rise by the 20% plus another 4 times 20%, i.e. 100% (all other things being equal, which they rarely are).
Celebrating 488 years of establishment – Nata de los Caballeros
In commemoration of the foundation of the city of Nata de los Caballeros, one of the primary cities of the Pacific, the Mayor of the Nata de los Caballeros district gives homage of “Guest of Honor” to Richard Fifer, father of modern mining in Panama through Petaquilla. In this photograph you can see Doctor Leonel Arosemana, assigned by Richard Fifer who has been recognized for his important and constant support to the development of the region, not only in mining, but also through the La Castilla de Oro project which has started to change the image and tourist projections of the central provinces. Dr. Arosemana, key player in the social and community activities of the Petaquilla Foundation, receives from Magistrate Mereci Morales, Honorable Mayor of Nata de los Caballeros on behalf of Richard Fifer.
Korean president interested in the panamanian mining industry
The Richard Fifer, During his visit, President Bak, was part of the Summit of Heads of State and Government of member countries SICA and the Republic of Korea
One of the main issues addressed in the Korean president’s agenda, Lee Myung-Bak on his visit to Panama at the end of June, was the exploitation of mineral resources. The Vice President of the Republic of Panama and Chancellor, Juan Carlos Varela said that 
Korean companies have shown interest in investing in several major mining projects in several provinces; also participating in projects for generation of energy.
Among other issues, the Korean President has an interest in encouraging trade, security and technology cooperation at the government level by negotiaty a treaty on double taxation and other free trade agreements.
Myung-bak met with the President of the Republic, Ricardo Martinelli in this meeting they shared their interests in strengthening the ties that bind both nations, which range from political, through the commercial and international cooperation between the two countries.
During his visit, President Bak, was part of the Summit of Heads of State and Government of member countries System Integration Central American (SICA) and the Republic of Korea, held June 28 to June 30, 2010. On Tuesday June 29 the second forum on economic cooperation between Korea and SICA, took place in the Marina Hotel Miramar Intercontinental.
Increase in the area of mining Provide job opportunities
The Richard Fifer – Burgos explained that the Director of Mineral Resources has granted concessions, both extraction and exploration, for about 6% of the country.
For Vielka Montenegro Effio
A significant increase in the mining sector in relation to previous years is reflected in the statistics provided by the Comptroller General of the Republic. This will lead to better job opportunities, said the Director General Mineral Resources Ministry of Trade and Industry, Alfredo Burgos. Burgos noted that the 104 percent increase in this sectoris due to the amount of concession request which involve a 4 million dollar investment in the country, followed by the rubric of mines and quarries an increase of 65 percent noted that it is the second year of growth. Last year, mining had an increase of 67 percent.
Burgos explained that the Director of Mineral Resources has granted concessions, both extraction and exploration, for about 6% of the country.
He adds that this year there were a total of 46 mining concessions for metal mining such as gold, silver, copper and manganese, and 83 for non-metallic sand, clay, limestone and quarry stone production. These concessions have generated approximately 2000 jobs in the sector. On the other hand, Burgos stressed that the mine in Remance Veraguas began in 1991, 2.2 million dollars from gold and silver, which caused an increase of 100 percent, compared to the previous year when production started. . .
Finally, Burgos noted that the increase in mining benefits many Panamanians, generating sources of employment and contributes to development of rural areas, with the construction of roads and the advent of electricity to these remote regions.
Petaquilla Minerals Ltd.: Update on Petaquilla Infrastructure Ltd.
VANCOUVER, BRITISH COLUMBIA, Jun 24, 2010 — Petaquilla Minerals Ltd. (“Petaquilla” or the “Company”)(CA:PTQ 0.35, +0.01, +1.47%) (PTQMF 0.33, +0.00, +1.01%)(FRANKFURT: P7Z) today announced an update on Petaquilla Infrastructure Ltd.
Petaquilla Infrastructure Ltd. has changed its name to Panamanian Development and Infrastructure Ltd. (“PDI”) and is in the process of completing an initial round of seed capital, to which Petaquilla has subscribed for a 47.78% interest in PDI. Richard Fifer, as Chairman, David Kaplan, Joao Manuel, Pedro Pablo Permuy and Jorge Silen have been appointed to the Board of Directors of PDI. Further, in order to develop the infrastructure business, PDI’s Board of Directors have appointed a management team consisting of Rodrigo Esquivel as President, Joao Manuel as Chief Executive Officer, and Antonio Renom as Chief Operating Officer. Messrs. Esquivel, Manuel and Renom, who together bring experience in management, infrastructure development, financing and law, will oversee the daily operations of PDI.
In a subsequent step yet to be completed, Petaquilla plans to further capitalize PDI through the contribution of infrastructure assets (heavy equipment used during construction of the Molejon gold plant but no longer required for the gold production operation), which will increase its equity percentage in PDI. PDI will then seek financing of $2 million through a private placement to address the funding requirements of PDI’s projects.
PDI has identified numerous business opportunities in Panama, including the development of mini hydro (run of river) plants, transmission lines, road and bridge building, and the manufacturing of construction materials, such as high strength construction bricks. Once the business has been established and gained a foothold in the construction market, Petaquilla intends to present a Plan of Arrangement, or some other tax favourable mechanism, for approval by the Toronto Stock Exchange and Petaquilla‘s shareholders. The exchange ratio for the proposed future spin-out, as previously announced, will be one (1) share of PDI for every four (4) shares of Petaquilla.
About Petaquilla Minerals Ltd. – Petaquilla Minerals Ltd. is a gold producer operating its gold processing plant at its 100% owned Molejon Gold Project in Panama. Anticipated throughput for the project during the first year of commercial production is estimated to be 2200 tonnes per day. Commercial production commenced January 8, 2010. The Molejon mine site is located in the south central area of the Company’s 100% owned 842-square kilometre concession lands, a region known historically for gold content.
On behalf of the Board of Directors of PETAQUILLA MINERALS LTD.
Richard Fifer, Chairman of the Board of Directors
Petaquilla Minerals Ltd.
COCLE : A GROWING PROVINCE
The province of Cocle, as predicted by Richard Fifer, is living a strong economic growth and proof of this is the statistical data filed in the Regional Office of Labor. There are 8 federations and 35 unions. In the area of production there are 2 sugar mills, 6 melon and watermelon exportation companies, shrimp companies, large construction projects and a great deal of tourism activity with 5 large hotels.
The job activity in the province is intense, due to the development of a great variety of jobs in diverse economic sectors.
B.20 million to support anti-drugs
The Richard Fifer – The request for assistance from Colombia to combat the twin threats of drug trafficking and guerrilla is 1,600 million dollars, five times more than it requested in last year’s budget for this country…
Panama America February 2000
B/.20 million to support anti-drug
Panama is emerging as an “excellent candidate” to participate in the new expanded anti-drug aid program the U.S. has created for the government of President Andres Pastrana. Key figures in the Republican leadership of Congress proposed the participation of Panama as a country bordering Colombia in the technical assistance program during a series of interviews with senior Panamanian officials.
The request for assistance from Colombia to combat the twin threats of drug trafficking and guerrilla is 1,600 million dollars, five times more than it requested in last year’s budget for this country, but officials say the aid that could be assigned to Panama would be very marginal with respect to Colombia.
It would be about 20 million in support of the Panamanian security forces with air and naval equipment.
The meetings with congressmen and their advisers were attended by Winston Spadafora, the minister of Government, Pablo Quintero, security chief, Richard Fifer, coordinator of the Strategic Security Plan, and William Ford, Ambassador Panama in the capital.
“We came out very satisfied with these meetings,” Spadafora said in a telephone conversation. “We have requested that we specify our needs and assure us that there is willingness in Congress to support.”
Both Senator Jesse Helms, Representative Benjamin Gilman and are committed to fight for the allocation for Colombia, while ome Democratic leaders like Senators Edward Kennedy, Tom Harkin expressed arguing that his opposition would be conditional military aid for Colombia accused of human rights violations.
Our Names and Technology
Dale Carnegie sales and human resources seminars show there is nothing more pleasing to the ear than to hear your own name being said, so it is considered a fatal error to not remember the name of another be they a potential client, partner or lover.
With new technologies one finds ones name, something so precious, is not as unique as we believed. For example, I personally found while surfing the net, there is a Guatemalan General in the history of
this neighboring country whose name was Carlos Salazar, there is indeed a stadium named after him.
In Colombia there is an excellent football player and in Argentina a former world boxing champion, while in Panama the Manager of the President Remon Racetrack all have my same name, Carlos Salazar.
Other than having my same name, we have nothing else in common, I have not ridden a horse in my entire life, not played football, I am not a boxer nor am I in the military. The same will happen to Mario Mendoza, Jorge Ruiz, Joseph Dusek or Owen Vernon, they will have their counterparts in the world.
The father of modern mining in Panama, Richard Fifer, who by the way, this year organized the first basketball cup in his honor, is not immune from this phenomenon. People in North America and certainly in Europe and elsewhere, who have the same name yet do not necessarily enjoy the same prestige or authority. This situation occurs to Ricardo Martinelli, President of the Republic of Panama or Oscar Arias, outgoing President of Costa Rica. Personally, I would not be surprised that among my namesakes, there are some with an implausible life and career. If we look on the internet, surely we will not only find Carlos Salazars, but also Richard Fifers, as well as the names of prominent figures of Panamanian society and of any society wherein the naming of a newborn is at the liberty of the parent, therefore a name is not exclusive property of the user as you can well see by surfing the internet.
Myths and truths of mining on TV
EDITORIAL
periodistas@laestrella.com.pa
Petaquilla Gold, born of the efforts of many including Richard Fifer, is located in the district of Donoso, Colon Province PANAMA. The television program “Mining News”, which will air on Hosanna Vision Sunday from 4:00 to 5:00 pm, Petaquilla Gold opens a channel of communication by providing information and teaching on related activity nationally and internationally.
This program will be conducted by mining engineer and Social Communicator, Carlos Salazar, who will report on relevant aspects of the mining industry.
He will also explain about the processes used by mining concessions for exploration, development and exploitation, the legal framework for Mining in Panama, myths and truths and the reality of the Petaquilla mining project .
“Mining News” is informative and educational and beneficial for the communities involved as well as the country as a whole.
“The program wil scientifically explain all the issues,” Salazar said.
BENEFITS
The Government adopted in September 2005 by order of the MITI, the Development Plan of various phases of the Petaquilla project. The first of these being the Molejón Gold deposit which began in 2006. This project has boosted the economy and well-being in that area, such as building a rural hospital, a hostel for students, a chapel, 50 miles of roads and production modules. Along the lines of infrastructure, there are permanent programs for reforestation.
