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Paramount Gold and Silver (PZG) Positive Results In Mexico

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Paramount Gold and Silver (PZG) has been very busy this summer exploring its world class San Miguel Project which completely encompasses one of the top operating silver mines in the world operated by Coeur D'Alene.   
 Paramount's San Miguel Property is located in The Sierra Madre Gold-Silver Belt.  This area of the world is attracting major interest from the big boy miners such as Pan American Silver, Goldcorp, Agnico Eagle Mines, Alamos Gold, Argonaut Gold and the world's richest man Carlos Slim's Minera Frisco who recently acquired the 4.6 million ounce Ocampo Mine.  
 Paramount's high grade 3.3 million ounces are extremely desired by the major players especially their next door neighbor Coeur D'alene.  When this market turns I believe Paramount could be one of the best takeover targets for a major looking to expand in one of the best and low cost areas to mine in the world.  
Paramount's San Miguel already has a published Preliminary Economic Assessment which showed an asset highly competitive and arguably more economic than some of the other miners that were acquired or are currently producing in the Sierra Madre Belt.  The PEA at San Miguel showed an impressive average gold equivalent grade of 3.18 g/t and positive metallurgical recoveries of over 90% for the gold open pit and 80% for the silver open pit.  Even in a lower gold case scenario the mine would be economic with a 24.5% IRR at $1300 gold and $25 silver.  Cash costs are around $513 at that level.  
Disclosure: Author Owns PZG and company is sponsor on author's website.

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