I guess Deutsche Bank must like our prepaid deal - they just did a similar one with Petaquilla

I suppose what`s there not to like, right. Deutsche Bank is rolling in the dough (profits) from the ounces we deliver to them on a monthly basis. I guess it`s a win win as it was key to us getting Lamaque going again. It`s just a matter of time until Century shareholders realize greater benefits also.

Perhaps Deutsche Bank`s prepaid gold deal with Century was a first trial into this specific type of gold venture for their trading division. Maybe they concluded the Century deal to be a successful thus far, hence they have moved this model forward with this additional deal with Petaquilla.


Anyway, here is only part of the Petaquilla NR:


Aug 19, 2010 13:27 ET
Petaquilla Signs Prepaid Forward Gold Purchase Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 19, 2010) - Petaquilla Minerals Ltd. (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) (the "Company") today announced that it has entered into a definitive Forward Gold Purchase Agreement (the "Agreement") with Deutsche Bank, AG, London Branch ("Deutsche Bank"), a major international bank with a large gold trading business. Subject to satisfaction of all closing conditions, Deutsche Bank will fund a US$45 million prepaid gold forward facility.

The facility is a forward contract to deliver 68,243 ounces of gold over a five year term. The schedule of gold payments is as follows: during the first eight (8) months of the term, 562 ounces per month; for the next eleven (11) months of the term, 1,125 ounces per month; for the next twenty-four (24) months, 1,503 ounces per month; for the final seventeen (17) months of the term, 900 ounces per month. The 68,243 ounces of gold that have been committed under this gold facility represent approximately 6.3% of the Company's total gold resources at its wholly-owned Molejon Gold Project in Panama.

Certain components within the Agreement, such as gold pricing valuations, will be finalized at the time of prepayment, which is anticipated to occur on August 25, 2010. As such, a subsequent news release regarding the Agreement will be issued upon the date of prepayment with the minimum and maximum gold prices per ounce expressed. There is no interest payable to the bank during the term of the facility. The Company will pay upfront structuring and finders' fees in the aggregate sum of US$2,250,000.