Petaquilla Minerals Ltd. (Petaquilla), is engaged in the acquisition, exploration, exploration management and sale of mineral properties. The Company is active in the production and sale of gold from its open pit mine at its Molejon gold project. During the fiscal year ended May 31, 2012 (fiscal 2012), the Company mined 3,217,378 tons of ore with a content of 1.34 gram per ton of gold, totaling 138,152 ounces of gold before recovery. In fiscal 2012, it produced 68,002 gold ounces and sold a total of 62,870 gold equivalent ounces. As of May 31, 2012, the Company had 19 subsidiaries. On September 1, 2011, it acquired properties in Spain and Portugal, the Lomero-Poyatos mine in Andalucia, Spain.