Welcome to our dedicated page for Paramount Gold news (Ticker: PZG), a resource for investors and traders seeking the latest updates and insights on Paramount Gold stock.
Paramount Gold Nevada Corp. explores and develops precious metal projects in the United States, with company updates centered on the Grassy Mountain Gold Project in Malheur County, Oregon, and the Sleeper Gold Project in northern Nevada. News commonly covers gold and silver project permitting, environmental review, technical studies, development evaluations, and local or federal regulatory milestones.
Paramount Gold Nevada updates also include annual meeting results, stockholder voting matters, project-level feasibility and assessment work, and corporate disclosures tied to its NYSE American-listed common stock. The company has described potential paths for its mineral properties that include asset sales, joint ventures with producers, or construction and operation for its own account.
Paramount Gold Nevada Corp. (PZG) announced the acceptance of the Wildlife Resources Baseline Data Report for the Grassy Mountain gold mine in Oregon, a milestone in its permitting process. CEO Rachel Goldman highlighted that this step follows previous approvals, enabling progress toward required regulatory approvals. With 20 baseline reports accepted, further submissions are planned, including groundwater and geochemistry reports. The company anticipates submitting a revised Consolidated Permit Application by summer 2021, building on a positive Feasibility Study completed in September 2020.
Paramount Gold Nevada Corp. (PZG) held its annual stockholder meeting on December 10, 2020, with 62.22% of shares voting. Seven directors were elected, including Rudi Fronk and Glen Van Treek. The meeting also ratified MNP LLP as independent accountants for FY 2021, with 98.83% approval. Additionally, stockholders voted to increase authorized shares from 50 million to 200 million, achieving 85.54% approval. Overall, the meeting reflects strong shareholder engagement and support for the company's future endeavors.
Paramount Gold Nevada Corp. (PZG) announced plans to evaluate restarting the historic Sleeper Mine in response to rising gold prices. Previously, the mine produced 1.7 million ounces of gold at costs below $400 per ounce. Current resources at the site include 3 million ounces of measured and indicated gold and 1.5 million ounces inferred, along with significant silver resources. A comprehensive review of existing data will be conducted by Mine Development Associates to identify prospective drill targets and assess processing options, with drilling expected to commence in H1 2021.
Paramount Gold Nevada Corp. (PZG) has filed a National Instrument 43-101 Technical Report on the Feasibility Study for its Grassy Mountain Gold Project in Oregon. The report outlines robust economics with an annual production of 47,000 ounces of gold and 55,000 ounces of silver. It highlights low cash costs of $584 and AISC of $672 per ounce of gold produced. The after-tax IRR is 26.0% at a base gold price of $1,472, and a net present value (NPV) of $105 million at a 5% discount rate.
Paramount Gold Nevada Corp. (PZG) announced the results of its Feasibility Study for the Grassy Mountain Gold Project, revealing a pre-tax NPV5% of $123 million at an average gold price of $1,472, increasing to $238 million at $1,900. The study shows low initial capital requirements of $98 million and life-of-mine cash costs of $583 per ounce, with sustainable costs at $671 per ounce. The project is expected to produce 362,000 ounces of gold and 425,000 ounces of silver over an eight-year mine life, with an after-tax IRR of 26% at $1,472 gold.
Paramount Gold Nevada Corp. (NYSE American: PZG) has closed its non-brokered registered direct offering in the U.S. and a concurrent agency offering in Canada, totaling 4,807,700 shares at US$1.04 per share, raising US$5 million. The funds will strengthen Paramount's balance sheet and support critical milestones for the Grassy Mountain Gold Project, including permitting and a forthcoming feasibility study. CEO Rachel Goldman announced that drilling will commence at the Frost project pending permit approval.
Paramount Gold Nevada Corp. (NYSE American: PZG) has announced a non-brokered registered direct offering and concurrent best efforts offering in Canada, pricing 4,807,700 shares of common stock at $1.04 each. The expected proceeds are approximately $5 million, intended primarily to advance the Grassy Mountain Gold Project permitting in Oregon and for general corporate purposes. Closing is anticipated around June 30, 2020, subject to customary conditions. The offerings are made under established U.S. and Canadian securities regulations.
Paramount Gold Nevada Corp. (NYSE American: PZG) has initiated a non-brokered registered direct offering to select US and eligible investors, aiming for minimum gross proceeds of $3 million. Concurrently, a Canadian best efforts offering is led by Canaccord Genuity and Cantor Fitzgerald. The closing is expected around June 30, 2020, pending customary conditions. Proceeds will primarily support permitting for the Grassy Mountain gold project in Oregon and general corporate purposes, enhancing future growth potential.