Paramount Gold - Ausbruch möglich?
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June 25, 2009 Paramount Gold and Silver Corp. Added to Russell Indexes OTTAWA, CANADA--(Marketwire - June 25, 2009) - Paramount Gold and Silver Corp. ("Paramount") (NYSE Amex Zunge rausstrecken ZG)(TSX Zunge rausstrecken ZG)(Frankfurt Zunge rausstrecken 6G)(WKN:A0HGKQ) is pleased to announce, effective June 29, 2009 that it will be added to several Russell indexes including the Russell 3000 and Russell Global. Christopher Crupi, CEO of Paramount Gold and Silver Corp. stated, "We are looking forward to being added to the Russell indexes and the institutional interest that will now follow the Paramount story." Paramount currently has no weighting in the Russell Index. About Russell Indexes: Over the past 25 years, Russell's innovative methodology has helped their indexes become the benchmarks most used by institutional investors. Currently, institutional investment professionals responsible for over $4.3 trillion in assets use Russell indexes to guide their portfolios CONTACT INFORMATION: Paramount Gold and Silver Corp. Christopher Crupi, CEO Chris Theodossiou, Investor Relations 866-481-2233 / 613-226-9881
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Paramount Gold & Silver (PZG) slipped under $1.50 this week when another newsletter editor recommended to his subscribers to sell half of their shares. To his credit, he got them in between 75 cents and $1 a share, and now he wants them to take some or all of their initial stake off the table.
My experience is that a stock does not know where you bought it, and does not care. It is going to go where it is going to go, with our without you. Selling winners is an amateur’s game, so I was surprised to see him fall into that trap. As far as I know, he did not turn bearish on gold, and if you like gold, you have to love PZG. They will be updating their resource statistics in the fall - I am going to get an exact date out of them - and the stock will skyrocket. PZG remains a Top Buy under $2 for my $10 minimum target.
Paramount Gold and Silver Corp Signs Definitive Agreement to Expand its San Miguel Project
OTTAWA, CANADA--(Marketwire - July 8, 2009) - Paramount Gold and Silver Corp.(WKN:A0HGKQ) has signed definitive agreements to acquire the Guazapares project located in southwestern Chihuahua, Mexico from Mexoro Minerals Ltd. (OTCBB:MXOM) for a purchase price of $3.7 million.
The Guazapares project comprises 12 claims surrounding Paramount's San Miguel discovery which can be seen in the map at the following link http://www.paramountgold.com/projects/images/temoris2.jpg. The first payment will be released from escrow when certain conditions are met. An additional payment is due to Mexoro if, within 36 months the project is put into commercial production or the project is sold by Paramount.
Paramount CEO, Christopher Crupi stated, "We are extremely excited with the acquisition of these concessions immediately surrounding our flagship San Miguel project. With drilling expected to commence soon, our team will have many new targets at the Guazapares project and we expect that this will add to our growing resource and resource potential."
The following is a link to the updated land status map of Paramount highlighting the new concessions http://www.paramountgold.com/projects/images/temoris3.jpg
CONTACT INFORMATION:
Paramount Gold and Silver Corp.
Christopher Crupi, CEO
Chris Theodossiou, Investor Relations.
866-481-2233 / 613-226-9881
Paramount Gold and Silver Corp. Commences Drilling at their San Miguel Project Focusing on Gold-Rich Targets
CHIHUAHUA, MEXICO--(Marketwire - July 14, 2009) - Paramount Gold and Silver Corp. ("Paramount") (FRANKFURT (WKN:A0HGKQ) is pleased to announce that the drilling campaign on the San Miguel project was restarted. This drilling program will be conducted in 2 distinct stages, target testing and follow-up resource delineation. Exploration drilling is focusing on the gold-rich parts of the San Miguel mineral system with the goal of defining 2 million gold ounces within the next 12 months. It is anticipated that a significant silver credit would accompany successfully attaining this goal. The initial target testing stage is utilizing 1 diamond core drill contracted from Layne de Mexico S.A. de C.V.
Ongoing surface exploration and compilation of past drilling have identified 7 target zones and additional work is expected to identify more zones. Three different geological concepts have been recognized among the identified target zones:
- Synvolcanic structural basins with gold concentrations along the basin margin in veins, breccias and as detritus within the basin (Monte Cristo Target).
- Quartz veins with localized high-grade gold concentrations in plunging shoots distributed along the strike of the vein (GdlR Target, San Francisco Target, La Tinaja Target, and San Miguel Target).
- Sheeted quartz vein zones where a broad zone of subparallel quartz veins provides potential for bulk minable targets (San Antonio Target, Alisitos Target).
It is anticipated that the ongoing surface exploration will identify additional target zones. These areas will be compared to existing opportunities and the best targets will be tested. The initial target testing is designed for 8,000 meters of drilling and is expected to be completed in October. The resource delineation stage of the program would begin upon completion of this first stage of drilling.
Exploration activities at San Miguel are being conducted by Paramount de Mexico personnel under the supervision of Bill Threlkeld a Qualified Person as defined by National Instrument 43-101. An ongoing and rigorous quality control/quality assurance protocol is being employed during the program including blank, duplicate and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed at ALS Chemex., Vancouver, B.C., using fire assay atomic absorption methods for gold and aqua regia digestion ICP methods for other elements.
Paramount Gold and Silver holds a 100% interest in several North American gold projects. The Corporation's principal asset is the San Miguel property in Chihuahua State, Mexico. For more information on the Corporation visit the Company's website at http://www.paramountgold.com.
CONTACT INFORMATION:
Paramount Gold and Silver Corp.
Christopher Crupi
CEO
866-481-2233 / 613-226-9881
or
Paramount Gold and Silver Corp.
Chris Theodossiou
Investor Relations
866-481-2233 / 613-226-9881
CHIHUAHUA, MEXIKO--(Marketwire - July 15, 2009) - Paramount Gold and
Silver Corp. ("Paramount") (NYSE/TSX: PZG) (Frankfurt: P6G, WKN:
A0HGKQ) freut sich, bekannt geben zu können, dass die Bohraktivitäten
im San-Miguel-Projekt wieder aufgenommen wurden. Dieses Bohrprogramm
erfolgt in zwei klar definierten Phasen: Probebohrungen in den
Zielgebieten und Nachfolgebohrungen zur Ressourcenbeschreibung. Die
Explorationsbohrungen konzentrieren sich auf die stark goldhaltigen
Gebiete der San-Miguel-Mineralisierungen, und zwar mit dem Ziel
innerhalb der nächsten 12 Monate 2 Millionen Goldunzen zu bestimmen.
Es wird davon ausgegangen, dass das erfolgreiche Erreichen dieses
Ziels auch von bedeutenden Silbervorkommen begleitet wird. In der
anfänglichen Testphase kommt ein Diamantkernbohrer zur Anwendung, der
von Layne de Mexico S.A. de C.V. vertraglich zur Verfügung gestellt
wird.
Aufgrund der laufenden Oberflächenexploration und der Daten
zurückliegender Bohrungen sind 7 Zielgebiete identifiziert worden,
wobei durch zusätzliche Untersuchungen weitere Zielgebiete ausfindig
gemacht werden sollen. Ausgehend von den bereits identifizierten
Zielgebieten sind drei verschiedene geologische Prinzipien erkennbar:
- Synvulkanische Becken mit Goldablagerungen entlang dem Beckenrand
in Gängen, Brekzien und als Detritus innerhalb des Beckens (Monte
Cristo-Zielgebiet).
- Quarzgänge mit örtlich begrenzten hochwertigen Goldablagerungen in
die Tiefe abzweigender Gänge, die sich entlang der Streichung des
Gangs erstrecken (GdlR-Zielgebiet, San-Francisco-Zielgebiet,
La-Tinaja-Zielgebiet und San-Miguel-Zielgebiet).
- Zonen mit geschichteten Quarzgängen, wo eine breite Zone mit
subparallelen Quarzgängen ein Potenzial für größere Mengen abbaubarer
Zielvorkommen bildet (San-Antonio-Zielgebiet, Alisitos-Zielgebiet).
Es wird davon ausgegangen, dass durch die fortlaufende
Oberflächenexploration weitere Zielgebiete identifiziert werden
können. Diese Gebiete werden dann mit bestehenden Gebieten verglichen
und in den besten Gebieten werden Probebohrungen vorgenommen. Die
anfänglichen Probebohrungen sind für 8000-Meter vorgesehen und sollen
im Oktober abgeschlossen sein. Unmittelbar im Anschluss an diese
erste Bohrphase würde dann die Programmphase der
Ressourcenbeschreibung einsetzen.
Die Explorationsaktivitäten in San Miguel werden von den Mitarbeitern
von Paramount de Mexico unter der Leitung von Bill Threlkeld, einer
im Sinne von NI43-101 qualifizierten Person, ausgeführt. Während des
Programms wird ein strenges Protokoll zur ständigen
Qualitätskontrolle/Qualitätssicherung befolgt, einschließlich
unbeschriftete Proben, Duplikate und Standardproben in jeder
Untersuchungscharge. Die Analyse für 10% der Proben wird durch ein
zweites externes Labor gegengeprüft. Die Proben werden im Labor von
ALS Chemex in Vancouver (B.C.) untersucht, wobei für Gold
Flammen-Atomabsorptionsmethoden und für andere Elemente
ICP-Spektroskopie mit Königswasser zur Anwendung kommen.
Paramount Gold and Silver besitzt einen 100-Prozent-Anteil an
mehreren nordamerikanischen Goldprojekten. Der
Hauptvermögensgegenstand des Unternehmens ist die
San-Miguel-Liegenschaft im Staat Chihuahua, Mexiko. Für weitere
Informationen zum Unternehmen besuchen Sie unsere Website unter
http://paramountgold.com.
Paramount Gold and Silver Corp.
Christopher Crupi, CEO,
Chris Theodossiou, Aktionärspflege
866.481.2233 / 613.226.9881
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Copyright © Hugin AS 2009. All rights reserved.
Paramount Gold and Silver Corp. Commences Drilling at their San Miguel Project Focusing on Gold-Rich Targets
CHIHUAHUA, MEXICO--(Marketwire - July 14, 2009) - Paramount Gold and Silver Corp. ("Paramount") (FRANKFURT Zunge rausstrecken 6G)(WKN:A0HGKQ) is pleased to announce that the drilling campaign on the San Miguel project was restarted. This drilling program will be conducted in 2 distinct stages, target testing and follow-up resource delineation. Exploration drilling is focusing on the gold-rich parts of the San Miguel mineral system with the goal of defining 2 million gold ounces within the next 12 months. It is anticipated that a significant silver credit would accompany successfully attaining this goal. The initial target testing stage is utilizing 1 diamond core drill contracted from Layne de Mexico S.A. de C.V.
Ongoing surface exploration and compilation of past drilling have identified 7 target zones and additional work is expected to identify more zones. Three different geological concepts have been recognized among the identified target zones:
- Synvolcanic structural basins with gold concentrations along the basin margin in veins, breccias and as detritus within the basin (Monte Cristo Target).
- Quartz veins with localized high-grade gold concentrations in plunging shoots distributed along the strike of the vein (GdlR Target, San Francisco Target, La Tinaja Target, and San Miguel Target).
- Sheeted quartz vein zones where a broad zone of subparallel quartz veins provides potential for bulk minable targets (San Antonio Target, Alisitos Target).
It is anticipated that the ongoing surface exploration will identify additional target zones. These areas will be compared to existing opportunities and the best targets will be tested. The initial target testing is designed for 8,000 meters of drilling and is expected to be completed in October. The resource delineation stage of the program would begin upon completion of this first stage of drilling.
Exploration activities at San Miguel are being conducted by Paramount de Mexico personnel under the supervision of Bill Threlkeld a Qualified Person as defined by National Instrument 43-101. An ongoing and rigorous quality control/quality assurance protocol is being employed during the program including blank, duplicate and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed at ALS Chemex., Vancouver, B.C., using fire assay atomic absorption methods for gold and aqua regia digestion ICP methods for other elements.
Paramount Gold and Silver holds a 100% interest in several North American gold projects. The Corporation's principal asset is the San Miguel property in Chihuahua State, Mexico. For more information on the Corporation visit the Company's website at http://www.paramountgold.com.
CONTACT INFORMATION:
Paramount Gold and Silver Corp.
Christopher Crupi
CEO
866-481-2233 / 613-226-9881
or
Paramount Gold and Silver Corp.
Chris Theodossiou
Investor Relations
866-481-2233 / 613-226-9881
Paramount Gold and Silver Corp. and Klondex Mines Ltd.
Announce Business Combination
Ottawa, Ontario and Vancouver, British Columbia – July 20, 2009 – Paramount Gold and Silver Corp. (NYSE /TSX: PZG) (Frankfurt: WKN: A0HGKQ) (“Paramount”) and Klondex Mines Ltd. (TSX:KDX; Other OTC: KLNDF) are pleased to announce that they have entered into a binding letter agreement (the “Letter Agreement”) to combine the two companies under a plan of arrangement, in a transaction valued at approximately C$80 million (the “Transaction” or the “Paramount Transaction”). The Letter Agreement has been unanimously approved by the Board of Directors of each of Paramount and Klondex, as well as by the Special Committee of the Board of Directors of Klondex.
Pursuant to the Letter Agreement, each Klondex share will be exchanged for 1.45 Paramount shares, implying a purchase price of C$2.32 per Klondex share using closing share prices on the TSX on July 17, 2009. The Transaction represents a premium of 33.3% to the closing price of Klondex shares and a 30.3% premium to the implied value of the unsolicited proposal by Silvercorp Metals Inc. (“Silvercorp.”) as of July 17, 2009. The Silvercorp proposal was announced on June 8, 2009, and was rejected by the Klondex Board of Directors as providing inadequate consideration for Klondex shareholders.
Klondex recommends that shareholders SUPPORT the Paramount Transaction and REJECT the Silvercorp offer by NOT TENDERING their shares to the Silvercorp offer. Any Klondex Shareholder who has tendered their Klondex Shares to the Silvercorp offer should WITHDRAW those Klondex Shares.
A shareholder meeting will be scheduled for Klondex shareholders to approve the Transaction. Klondex shareholders with questions on how to support the Paramount Transaction may contact David Collins, Ratula Velez Roy or Jim Leahy at Jaffoni & Collins toll free at 877-882-2587 or 212/835-8500 or via e-mail at kdx@jcir.com.
William Solloway, President and director of Klondex stated, “The Transaction with Paramount is the result of our strategic review process and delivers significant value to Klondex shareholders while creating a powerful North American Gold & Silver Exploration platform with substantial growth potential. We are very excited to be associated with the Paramount team and are confident that the Transaction will provide substantially greater value for Klondex shareholders than was contemplated in Silvercorp’s hostile bid. We urge all shareholders to join us in supporting the Transaction, which combines two high-quality gold ore bodies in the Americas, proven exploration professionals and avoids many of the risks inherent in the Silvercorp bid.”
Highlights of Combination
Christopher Crupi, CEO of Paramount stated, “The combination of Paramount and Klondex will create an exciting new company focused on developing high-grade gold projects in North America. Our two major projects will be located in excellent mining jurisdictions, near major producers and close to infrastructure. Both projects have unusual potential for growing resources with compelling economics. Our largest stockholder, Albert Friedberg, provides a strong and proven track record with the financial leadership to bring the combined company to a significantly higher valuation over time.”
The combination of Paramount and Klondex will move Paramount closer to its goal of increasing value for its stockholders through property acquisition and aggressive development. The Transaction adds Klondex’s Fire Creek and other projects in Nevada to Paramount’s existing San Miguel property in Chihuahua, Mexico, which significantly increases the combined entity’s resource base. In addition to the 2.65 million ounce gold-equivalent inferred resource Paramount has established at San Miguel, Klondex has established a high-grade resource at Fire Creek of 1.64 million gold-equivalent ounces in the indicated category, grading 10.11 g/t Au(eq.) at a cut off of 5 g/t, plus an additional 0.51 million ounces in the inferred category, grading 8.63 g/t Au(eq.) at a cut off of 5 g/t. Summaries of the mineral resources contained on Paramount’s properties are available in Paramount’s public filings with the United States Securities and Exchange Commission (“SEC”) at www.sec.gov and with the applicable Canadian securities regulators at www.sedar.com, and summaries of the mineral resources contained on Klondex’s properties are available in Klondex’s public filings with the applicable Canadian securities regulators at www.sedar.com. Other highlights of the combined entity are:
• Expanded and diversified operations with significant reserve/resource upside on two flagship projects, San Miguel and Fire Creek;
• Expanded resource base of 1.69 million ounces indicated and 3.15 million ounces inferred
• Paramount’s experienced personnel is poised to aggressively explore and develop its flagship projects;
• Enhanced market presence with pro forma market capitalization of approximately C$210 million; and
• Strategic position and management experience to enhance market valuation of the combined entity under Paramount.
Upon completion of the Transaction, Paramount will have approximately 132.4 million shares of its common stock issued and outstanding. Existing Paramount stockholders will retain approximately 62.4% ownership while Klondex shareholders will have approximately 37.6% ownership in the combined company.
Both Paramount and Klondex have agreed to obtain support agreements from each of their respective directors and certain of their shareholders to vote any shares which they control in favor of the Transaction. Shares to be voted with respect to support agreements would represent approximately 29% and 18% of the shares outstanding for Paramount and Klondex, respectively, on a fully diluted basis.
Transaction Details
The Transaction is expected to be structured as a statutory plan of arrangement. Under the terms of the Transaction, Klondex shareholders will receive 1.45 shares of common stock of Paramount for each common share of Klondex. All options and warrants of Klondex outstanding at the time of the Transaction will also be exchanged for options and warrants of Paramount on the same basis. On closing of the Transaction Klondex will become a wholly-owned subsidiary of Paramount. Following closing of the Transaction, one Klondex director, Robert Sibthorpe, will join the Paramount Board of Directors.
The letter agreement setting out the Transaction includes a commitment by Klondex not to solicit alternative transactions to the proposed Transaction. Paramount has also been provided with certain other rights customary for a transaction of this nature, including the right to match competing offers made to Klondex. The letter agreement also provides a reciprocal break fee of US$2.85 million to be payable by each of the parties under certain circumstances.
The letter agreement will provide a basis for the preparation of a definitive agreement which will also include representations and warranties and covenants customary for a transaction of this nature.
Klondex & Paramount have agreed to hold meetings of their shareholders to secure their approval by not later than October 31, 2009, and the Transaction is expected to be completed in the fourth quarter of 2009. Completion of the Transaction is subject to a number of conditions, including: the approval of the Supreme Court of British Columbia, the approval of not less than 66 2/3% of the outstanding shares of Klondex being voted in favor of the Transaction at a meeting of Klondex shareholders, the approval of not less than 50% plus one of the outstanding shares of Paramount being voted in favor of the Transaction at a meeting of Paramount shareholders and certain customary conditions, including receipt of all necessary regulatory approvals and third party consents.
Dahlman Rose & Company, LLC (“Dahlman Rose”) is acting as financial advisor to Paramount, and the Board of Directors of Paramount has received an opinion from Dahlman Rose that the exchange ratio contemplated in the Letter Agreement is fair, from a financial point of view, to Paramount. Gowling Lafleur Henderson LLP and Troutman Sanders LLP are acting as legal counsel to Paramount.
Scotia Capital is acting as financial advisor to Klondex, and the Board of Directors of Klondex has received an opinion from Scotia Capital that the consideration to be received by Klondex shareholders pursuant to the Letter Agreement is fair, from a financial point of view, to Klondex. Lang Michener LLP is acting as legal counsel to Klondex and Lawson Lundell LLP is acting as legal counsel to the Special Committee of the Board of Directors of Klondex.
Full details of the Transaction will be included in a management information circular to be filed with the regulatory authorities and mailed to Klondex shareholders in accordance with applicable securities laws. Investors are cautioned that, except as disclosed in that management information circular, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.
Klondex shareholders are cautioned that an arrangement where Klondex shareholders will receive Paramount shares directly may result in a taxable event for Canadian shareholders. The parties have committed to establish a structure for the merger before the execution of the definitive agreement, having regard to relevant securities, corporate and regulatory laws, stock exchange requirements and the tax planning considerations of each of the parties and their shareholders, including in particular, consideration of a share exchange structure to allow Klondex shareholders to receive Paramount securities on a tax-deferred basis. There is no guarantee the parties will be able to establish such a structure. Shareholders should consult with their own advisors.
About Paramount Gold and Silver Corp.
Paramount Gold and Silver Corp. is a precious metals exploration company listed on the Toronto Stock Exchange (TSX) and the NYSE Amex under the symbol "PZG", and listed on the Deutsche Borse under the symbol "P6G" (WKN: A0HGKQ).
Paramount holds a 100% interest in the San Miguel Project and has completed 47,560 meters of diamond drilling on 213 holes and 3,743 meters of exploration trenching at San Miguel since the summer of 2006. Paramount has recently expanded its land holdings by acquiring a 100% interest in the Temoris Project from Garibaldi Resources; a land package of over 54,000 hectares. Paramount's land package now includes most of the ground surrounding Coeur d'Alene Mines (NYSE:CDE) Palmarejo Mine project and is in excess of 140,000 hectares.
About Klondex Mines Ltd.
Klondex Mines Ltd. (TSX: KDX; Other OTC: KLNDF) is engaged in acquiring, exploring and developing high-grade gold and silver properties in North Central Nevada and has to date identified an Indicated Mineral Resource in excess of 1.6 million ounces of gold and an Inferred Mineral Resource of over 0.5 million ounces of gold via its deep drilling program at its 100% owned Fire Creek Property.
Klondex is focused on the exploration and development of Fire Creek on the Northern Nevada Rift in North Central Nevada, an area of substantial mining activity which has produced in excess of 100 million ounces of gold. Klondex's property portfolio covers over 12,615 acres or 19.7 square miles and includes three other gold exploration located in areas with strong gold exploration prospects. For more information, visit www.klondexmines.com.
Paramount Gold and Silver Corp. Klondex Mines Ltd.
Christopher Crupi, CEO William Solloway, President
866-481-2233 / 613-226-9881 604-638-3273
David Collins, Ratula Roy, James Leahy
Jaffoni & Collins Incorporated
KDX@jcir.com
212-835-8500
Additional Information About the Transaction and Where to Find It
In connection with the Transaction, Paramount expects to file with the SEC a proxy statement which will be sent to the shareholders of Paramount seeking their approval of the merger. In addition, Paramount may file other relevant documents concerning the Transaction with the SEC. Security holders are urged to read the proxy statement and other relevant documents when they become available because they will contain important information about the Transaction.
Security holders of Paramount may obtain free copies of these documents through the website maintained by the SEC at http://www.sec.gov. Security holders of Paramount may also obtain free copies of these documents by directing a request by telephone or mail to Paramount Gold and Silver Corp., 346 Waverley Street, Suite 100, Ottawa, Ontario Canada K2P OW5 (telephone: (613) 226-9881) or by accessing these documents at Paramount's website: www.paramountgold.com under "Investors". The information on Paramount's website is not, and shall not be deemed to be, a part of this release or incorporated into other filings made with the SEC.
Paramount and its directors, executive officers and members of management may be deemed to be participants in the solicitation of proxies from the shareholders of Paramount in connection with the Transaction. Information about the directors and executive officers of Paramount is set forth in the proxy statement for its 2009 annual meeting of shareholders filed with the SEC on January 8, 2009. Information regarding the interests of these participants and other persons who may be deemed participants in the Transaction may be obtained by reading the proxy statement regarding the Transaction when it becomes available.
Cautionary Note to U.S. Investors Concerning Estimates of Indicated and Inferred Resources: This press release uses the terms “indicated resources” and “inferred resources”. We advise U.S. investors that while these terms are defined in and permitted by Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
Statements in this document regarding the Transaction, the expected timetable for completing the Transaction, benefits and synergies of the Transaction, future opportunities for the combined company, expectations regarding the value and benefits of the Transaction and any other statements about Paramount or Klondex managements’ future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: the ability of the parties to consummate the Transaction and satisfy the conditions thereunder; the ability to obtain, and the timing of, the necessary exchange, regulatory and shareholder or stockholder approvals for the Transaction; the impact of any actions taken by Silvercorp. or any other party to complicate, delay or prevent the Transaction; the ability to realize the anticipated synergies and benefits from the Transaction and the combined company; and the other factors described in Paramount’s Annual Report and Annual Information Form on Form 10-K for the year ended June 30, 2008 and its most recent quarterly reports filed with the SEC available on www.sec.gov and applicable Canadian securities regulators available on www.sedar.com and Klondex’s filings with the applicable Canadian securities regulators available on www.sedar.com. Except as required by applicable law, each of Paramount and Klondex disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.
Eine kurze Erklaerung auf Deutsch eines anderen Users
Die letzten Ereignisse die Parampunt betrifft, naehmlich die Uebernahme von der Firma ‘ KLONDEX ‘, wird Paramount als Firma tatsaechlich veraendert.. Klondex wird als Tochterfirma eingegliedert. Damit vergroessert sich Paramount erheblich. Zusammen wird es dann eine Bewertung von Kanadischen 210 Millionen Dollar sein.
Die gemeinsame Aktienzahl wird so ungefaehr auf 132 Milionen laufen.
Klondex befinded sich in Nevada / Amerika. Ihr Hauptprojekt ist ‘ FIRE CREEK ‘ ( neben 2 anderen Projekten in Nevada und ergiebt 1.6 Millionen ‘INDICATED’ Goldunzen. Parammount’s San Miguel Projekt, hauptsaechlich both Clavos 66 und 99 zeigt soweit 2,65 Millionen Unzen ‘ inferred Gold equivalent Zusammen wird das 4,3 Millioneb Unzen ergeben. Paramount’s Ziel ist 10 Millionen Unzen.
Gold wird wohl equivalent Werte in 3 veschiedenen Kategorien eingeteilt.
Das Hoechste ist die ‘ PROVEN “ Kategorie. Nach deren Zahlen wird der eigentliche Wert einer Firma errechnet.
Die ersten Bohrungen und deren Kermwerte sind in der ‘ inferred ‘Kategorie. Das sind mehr oder weniger intelligente Schaetzungen der Geologen. Hiermit hat man dann schon den Beweis wo noch genauere Zwischenbohrungen stattfinden sollten. Meistens werden diese Bohrungen noch nehr konzentrrierte Stellen wahrnehmen Viele dieser Loecher werden in gewissen, kalkulierten Winkeln schraeg gebohrt. Die Ergebnisse kommen dann in die ‘INDICATED’ Kategorie. Nach noch mehreren fein ausgekluegelten Bohrungen konzentriert nach geologischen Rechnungen koennen die explorierten Daten dann in der glaubwuerdigen ‘ PROVEN ‘ Kategorie sein.
Albert Friedberg ist momentan der groesste Aktionaer mit Paramount. Seine Firma hat massig Geld durch explorationen gemacht.
Ohne Gewähr....
OTTAWA, ONTARIO UND VANCOUVER, BRITISH COLUMBIA--(Marketwire - July
23, 2009) - Paramount Gold and Silver Corp. (NYSE: PZG)(TSX:
PZG)(FRANKFURT: P6G)(WKN: A0HGKQ) ("Paramount") und Klondex Mines
Ltd. (TSX: KDX)(OTCBB: KLNDF) sind sehr erfreut, den Abschluss einer
schriftlichen Vereinbarung (die "schriftliche Vereinbarung")
bekanntzugeben, gemäß derer sich die Parteien zu einem
Zusammenschluss der beiden Unternehmen verpflichten. Der Gesamtwert
der Transaktion wird auf etwa 80 Millionen CAD geschätzt (die
"Transaktion" oder die "Paramount-Transaktion"). Die Aufsichtsräte
von Paramount und Klondex und das Spezialkomitee des Aufsichtsrates
von Klondex stimmten der schriftlichen Vereinbarung einstimmig zu.
Ausgehend von einem Anschaffungskurs von 2,32 CAD je Klondex-Aktie
wird in Übereinstimmung mit der schriftlichen Vereinbarung jede
Klondex-Aktie gegen 1,45 Paramount-Aktien eingetauscht werden. Die
Preise entsprechen den Aktienkursen zum Börsenschluss der TSX am 17.
Juli 2009. Die Transaktion umfasst somit einen Aufpreis von 33,3 %
gegenüber dem Schlusskurs der Klondex-Aktien und einen Aufpreis von
30,3 % gegenüber dem implizierten Aktienwert, der im Rahmen des
unaufgeforderten Transaktionsangebots von Silvercorp Metals Inc.
("Silvercorp.") vom 17. Juli 2009 diskutiert wurde. Das Angebot von
Silvercorp wurde am 8. Juni 2009 veröffentlicht und aufgrund
inadäquater Berücksichtigung der Klondex-Aktionäre von Klondex'
Aufsichtsrat abgelehnt.
Klondex empfiehlt seinen Aktionären ausdrücklich, die
Paramount-Transaktion ZU UNTERSTÜTZEN und das Angebot von Silvercorp
durch eine NICHTZEICHNUNG der Aktien gegenüber Silvercorp ABZULEHNEN.
Jeder Klondex-Aktionär, der seine Klondex-Aktien infolge des
Silvercorp-Angebots dem Unternehmen zum Kauf angeboten hat, sollte
dieses Kaufangebot von Klondex-Aktien umgehend ZURÜCKZIEHEN.
Eine Gesellschafterversammlung wird ebenfalls einberufen werden,
damit Klondex-Aktionäre die Transaktion offiziell absegnen können.
Sollte Ihnen als Klondex-Aktionär nicht klar sein, wie Sie die
Paramount-Transaktion gezielt unterstützen können, so wenden Sie sich
bitte an David Collins, Ratula Velez Roy oder Jim Leahy bei Jaffoni &
Collins, die unter den gebührenfreien Rufnummern 877-882-2587 bzw.
212/835-8500 oder per E-Mail an kdx@jcir.com erreichbar sind.
William Solloway, der Präsident und Direktor von Klondex, erklärte:
"Die Transaktion mit Paramount ist das Ergebnis unseres strategischen
Überprüfungsprozesses und bietet Klondex-Aktionären beträchtliche
Wertvorteile, während wir gleichzeitig eine leistungsstarke
nordamerikanische Gold&Silber-Explorationsplattform mit erheblichem
Wachstumspotenzial schaffen können. Wir sind begeistert, nun zum Team
von Paramount zu gehören, und zudem davon überzeugt, dass die
Transaktion im Vergleich zur angedachten feindlichen Übernahme von
Silvercorp für Klondex-Aktionäre erhebliche Mehrwerte bietet. Wir
bitten alle Aktionäre, diese Transaktion mitzutragen, in deren Rahmen
sich zwei hochwertige, in Nord-, Mittel- und Südamerika tätige
Golderz-Körperschaften zusammenschließen und ihre bewährten
Expolorations-Experten kombinieren. Durch diese Transaktion können
zudem viele der mit dem Angebot von Silvercorp zusammenhängenden
Risiken umgangen werden."
Höhepunkte des Zusammenschlusses
Christopher Crupi, der CEO von Paramount, erklärte: "Der
Zusammenschluss von Paramount und Klondex wird zum Aufbau eines
wirklich aufregenden neuen Unternehmens führen, das auf die
Weiterentwicklung von erstklassigen Gold-Projekten in Nordamerika
spezialisiert ist. Unsere beiden Hauptprojekte befinden sich in zwei
Bergbaugebieten mit hoher Rechtssicherheit sowie in unmittelbarer
regionaler Nähe zu den wichtigsten Weiterverarbeitern und bedeutender
Infrastruktur. Beide Projekte verfügen im Hinblick auf wachsende
Ressourcenvorkommen und die überzeugenden wirtschaftlichen
Gegebenheiten über ungewöhnlich hohes Potenzial. Unser Hauptaktionär
Albert Friedberg blickt auf eine eindrucksvolle, langjährige
Erfolgsgeschichte zurück und verfügt nachweislich über
Führungsqualitäten im kaufmännischen Bereich, mithilfe derer er dem
zusammengeschlossenen Unternehmen zu einer beträchtlichen
Wertsteigerung verhelfen wird."
Der Zusammenschluss von Paramount und Klondex wird Paramount seinem
Ziel näher bringen, den Gesellschaftern des Unternehmens durch
Eigentumserwerb und aggressive Entwicklungsstrategien Mehrwerte zu
bieten. Im Rahmen der Transaktion werden die Klondex-Liegenschaft
Fire Creek und weitere Projekte in Nevada mit der bestehenden
Liegenschaft San Miguel von Paramount in Chihuahua, Mexiko,
zusammengeschlossen, woraus sich beträchtliche Steigerungen der
Unternehmensressourcen ergeben. Zusätzlich zu den 2,65 Millionen
Unzen an angedeuteten Goldäquivalenten, über die Paramount in San
Miguel verfügt, konnte Klondex ein erstklassiges Vorkommen in Fire
Creek von 1,64 Millionen Unzen an angedeuteten Goldäquivalenten mit
einem Grading-Wert von 10,11 g/t Au(eq.) und einem Cut-Off-Wert von 5
g/t sowie ein vermutetes Vorkommen von 0,51 Millionen Unzen mit einem
Grading-Wert von 8,63 g/t Au(eq.) und einem Cut-Off-Wert von 5 g/t
erschließen. Zusammenfassungen bezüglich der Mineralreserven in
Paramounts Liegenschaften sind im Rahmen der öffentlichen
Einreichungen von Paramount bei der United States Securities and
Exchange Commission ("SEC") über die Website www.sec.gov und bei der
zuständigen kanadischen Regulierungsbehörde über die Website
www.sedar.com verfügbar. Zusammenfassungen bezüglich der
Mineralreserven in Klondex' Liegenschaften sind im Rahmen der
öffentlichen Einreichungen von Klondex bei der zuständigen
kanadischen Regulierungsbehörde über die Website www.sedar.com
verfügbar. Zu den weiteren Höhepunkten dieses
Unternehmenszusammenschlusses zählen:
- Ausgedehnte und diversifizierte operative Tätigkeit mit
beträchtlichen Vorteilen bezüglich Vorkommen/Ressourcen im Rahmen der
beiden Vorzeigeprojekte San Miguel und Fire Creek;
- Größere Ressourcenbestände in Höhe von 1,69 Millionen Unzen
(angedeutet) und 3,15 Millionen Unzen (vermutet)
- Der erfahrene Mitarbeiterstab von Paramount steht bereit, um diese
Vorzeigeprojekte aggressiv zu erkunden und weiterzuentwickeln;
- Verbesserte Marktpräsenz mit einem Pro-Forma-Börsenwert von etwa
210 Millionen CAD; sowie
- Die nötige strategische Positionierung und Managementerfahrung zur
Verbesserung der Börsenbewertung des unter Paramount
zusammengeschlossenen Unternehmens.
Sobald die Transaktion abgeschlossen ist, wird Paramount über etwa
132,4 Millionen emittierte und ausstehende Stammaktien verfügen.
Bestehende Aktionäre von Paramount werden etwa 62,4 % der Anteile
halten, während Klondex-Aktionäre einen 37,6-prozentigen Anteil am
zusammengeschlossenen Unternehmen halten werden.
Sowohl Paramount als auch Klondex haben ihr Einverständnis erklärt,
Unterstützungserklärungen von jedem ihrer jeweiligen Direktoren sowie
bestimmter Aktionäre darüber einzuholen, ihre Stimmrechte zugunsten
der Transaktion auszuüben. Der Stimmrechtsanteil aus Stammaktien
würde im Zusammenhang mit diesen Unterstützungserklärungen etwa 29 %
bzw. 18 % der ausstehenden Paramount- und Klondex-Aktien
einschließlich aller Umtauschrechte ausmachen.
Einzelheiten zur Transaktion
Die Transaktion wird voraussichtlich als "Statutory Plan of
Arrangement" abgewickelt werden. Laut der vertraglichen Absprachen
bezüglich der Transaktion werden Klondex-Aktionäre für jede
Stammaktie von Klondex 1,45 Aktien aus dem Bestand an Stammaktien von
Paramount erhalten. Alle zum Zeitpunkt der Transaktion ausstehenden
Bezugsrechte und Optionsscheine von Klondex werden auf gleicher
Grundlage gegen Bezugsrechte und Optionsscheine von Paramount
eingetauscht werden. Sobald die Transaktion abgeschlossen ist, wird
Klondex eine 100-prozentige Tochter von Paramount sein. Nach
Abschluss der Transaktion wird sich ein Direktor von Klondex, nämlich
Robert Sibthorpe, dem Aufsichtsrat von Paramount anschließen.
Die schriftliche Vereinbarung, in deren Rahmen die
Transaktionsdetails fixiert werden, enthält zudem eine
Verpflichtungserklärung von Klondex, neben der vorgeschlagenen
Transaktion keine weiteren alternativen Transaktionsvorschläge
einzuholen. Wie im Falle einer derartigen Transaktion üblich stehen
Paramount zudem weitere Rechte zu, darunter beispielsweise das Recht,
das eigene Angebot an möglicherweise bei Klondex eingehende
Konkurrenzangebote anzupassen. Im Fall eines Vertragsbruchs sieht die
schriftliche Vereinbarung eine für beide Seiten greifende
Vertragsstrafe in Höhe von 2,85 Millionen USD vor, die von beiden
Seiten unter bestimmten Umständen bezahlt werden muss.
Die schriftliche Vereinbarung dient als Grundlage für die
Vorbereitung des endgültigen Vertragswerks, in dessen Rahmen die für
derartige Transaktionen üblichen Repräsentanzen, Zusicherungen und
bindende Verpflichtungen geregelt werden.
Klondex & Paramount haben der Einberufung von
Gesellschafterversammlungen bis spätestens zum 31. Oktober 2009
zugestimmt, um die Bewilligung ihrer Aktionäre einzuholen. Die
Transaktion wird voraussichtlich innerhalb des vierten Quartals 2009
abgeschlossen sein. Der Abschluss der Transaktion hängt von einer
Reihe von Bedingungen ab. Hierzu zählen die Zustimmung des Obersten
Gerichtshofs von British Columbia, die Zustimmung von nicht weniger
als 66 2/3 % der Inhaber von ausstehenden Klondex-Aktien im Rahmen
der Gesellschafterversammlung von Klondex, die Zustimmung von nicht
weniger als 50 % plus Eins der Inhaber von ausstehenden
Paramount-Aktien im Rahmen der Gesellschafterversammlung von
Paramount sowie weitere gewöhnliche Bedingungen wie der Erhalt von
allen nötigen Zustimmungen von Regulierungsbehörden und
Einverständniserklärungen von Dritten.
Dahlman Rose & Company, LLC ("Dahlman Rose") fungiert als
Finanzberater von Paramount. Dem Aufsichtsrat von Paramount liegt ein
Gutachten von Dahlman Rose vor, in dem der im Rahmen der
schriftlichen Vereinbarung angedachte Wechselkurs in finanzieller
Hinsicht als fair für Paramount bezeichnet wird. Gowling Lafleur
Henderson LLP und Troutman Sanders LLP fungieren als Paramounts
Rechtsbeistand.
Scotia Capital fungiert als Finanzberater von Klondex. Dem
Aufsichtsrat von Klondex liegt ein Gutachten von Scotia Capital vor,
in dem der im Rahmen der schriftlichen Vereinbarung festgelegte
Gegenwert für Klondex-Aktionäre in finanzieller Hinsicht als fair für
Klondex bezeichnet wird. Lang Michener LLP fungiert als
Rechtsbeistand für Klondex und Lawson Lundell LLP fungiert als
Rechtsbeistand für das Spezialkomitee des Aufsichtsrates von Klondex.
Die kompletten Detailvereinbarungen der Transaktion werden in einem
Informationsschreiben der Geschäftsleitung enthalten sein. Dieses
Informationsschreiben muss zunächst bei den zuständigen
Regulierungsbehörden eingereicht werden und wird dann gemäß gültigen
Wertpapierrechts auf dem Postweg an Klondex-Aktionäre zugestellt.
Investoren werden ausdrücklich darauf hingewiesen, dass
veröffentlichte oder zugestellte Informationen über die Transaktion,
die nicht Teil des Informationsschreibens sind, unter Umständen
unzutreffend oder unvollständig sein könnten und deshalb
unzuverlässig sind.
Klondex-Aktionäre werden ausdrücklich darauf hingewiesen, dass eine
Absprache über den direkten Transfer von Paramount-Aktien an Klondex-
Aktionäre für kanadische Aktionäre ein steuerpflichtiges Vorkommnis
darstellen kann. Die Parteien haben sich dazu verpflichtet, ein
Rahmenwerk für den Unternehmenszusammenschluss auszuarbeiten, bevor
das endgültige Vertragswerk festgelegt wird, insbesondere im Hinblick
auf relevante Wertpapiere, gesellschaftsrechtliche und behördliche
Vorschriften, Börsenvorschriften sowie Überlegungen, die in die
Steuerplanung beider Parteien sowie ihrer Aktionäre einfließen. Dies
bezieht sich in erster Linie auf die Ausarbeitung einer speziellen
Struktur zum Aktientausch, so dass Klondex-Aktionäre Wertpapiere von
Paramount steuerfrei erhalten können. Es besteht keinerlei Garantie,
dass die Parteien bei der Ausarbeitung einer derartigen Struktur
erfolgreich sein werden. Aktionäre sollten sich diesbezüglich an ihre
persönlichen Finanzberater wenden.
Informationen zu Paramount Gold and Silver Corp.
Paramount Gold and Silver Corp. ist ein in der Exploration von
Edelmetallen tätiges Unternehmen, deren Aktien auf der Toronto Stock
Exchange (TSX) und dem NYSE Amex unter dem Tickersymbol "PZG" sowie
auf der Deutschen Börse unter dem Tickersymbol "P6G" (WKN: A0HGKQ)
gehandelt werden.
Das Projekt San Miguel befindet sich zu 100 % im Besitz des
Unternehmens. Diamantkernbohrungen in über 213 Bohrlöchern mit einem
Gesamtumfang von 47.560 Bohrmetern sowie Grabenaushebungen zu
Explorationszwecken von insgesamt 3.743 Metern wurden seit dem Sommer
2006 im Rahmen des Projekts San Miguel durchgeführt. Paramount hat
seinen Grundbesitz kürzlich weiter ausgedehnt und einen
100-prozentigen Anteil am Projekt Temoris von Garibaldi Resources
erworben. Das Gebiet erstreckt sich über 54.000 Hektar Fläche. Der
gesamte Grundbesitz von Paramount umfasst nun auch den Großteil der
Umgebungsfläche des Minenprojekts Palmarejo von Coeur d'Alene Mines
(NYSE: CDE), das sich insgesamt auf über 140.000 Hektar Landfläche
beläuft.
Informationen zu Klondex Mines Ltd.
Klondex Mines Ltd. (TSX: KDX)(OTCBB: KLNDF) beschäftigt sich mit dem
Kauf, der Exploration und der Weiterentwicklung von erstklassigen
Gold- und Silber-Liegenschaften im zentralen Norden Nevadas und
konnte bisher angedeutete Mineralressourcen von über 1,6 Millionen
Unzen Gold sowie vermutete Mineralressourcen von über 0,5 Millionen
Unzen Gold im Rahmen seines Tiefbohrprogramms auf der Liegenschaft
Fire Creek erschließen. Das Projekt befindet sich zu 100 % im Besitz
des Unternehmens.
Klondex konzentriert sich auf die Exploration und Weiterentwicklung
von Fire Creek in Richtung des Northern Nevada Rift im zentralen
Norden Nevadas. Dieses Gebiet zeichnet sich durch erhebliche
Bergbauaktivitäten aus, in deren Rahmen bereits über 100 Millionen
Unzen Gold produziert werden konnten. Das Liegenschaft-Portfolio von
Klondex deckt 12.615 Acres bzw. 19,7 Quadratmeilen Land ab und
umfasst drei weitere Goldexplorationen, die in vielversprechenden
Gebieten mit hohem Goldpotenzial liegen. Für weitere Informationen
besuchen Sie bitte www.klondexmines.com.
Zusätzliche Informationen zur Transaktion und wo Sie diese finden
können
Paramount plant, im Zusammenhang mit der Transaktion bei der SEC eine
Legitimationsübertragung einzureichen, die dann an
Paramount-Aktionäre zur Einholung der Zustimmung zu dieser Fusion
zugestellt werden wird. Darüber hinaus wird Paramount möglicherweise
zusätzliche relevante, die Transaktion betreffende Dokumente bei der
SEC einreichen. Wertpapierbesitzer werden dringend darauf
hingewiesen, diese Legitimationsübertragung sowie alle weiteren
relevanten Dokumente zur Kenntnis zu nehmen, sobald sie
veröffentlicht werden, da diese Schriftstücke wichtige Informationen
über die Transaktion selbst enthalten werden.
Wertpapierbesitzer von Paramount können kostenlose Kopien dieser
Dokumente über die von der SEC geführte Website www.sec.gov
erhalten. Wertpapierbesitzer von Paramount können ebenfalls
kostenlose Kopien dieser Dokumente erhalten, in dem sie sich
schriftlich oder per Telefon an Paramount Gold and Silver Corp., 346
Waverley Street, Suite 100, Ottawa, Ontario, Kanada K2P OW5 (Telefon:
(613) 226-9881) wenden. Die Dokumente können außerdem über die
Unternehmenswebsite von Paramount: www.paramountgold.com unter der
Rubrik "Investors" abgerufen werden. Die auf Paramounts Website
veröffentlichten Informationen sind weder Teil dieser Bekanntmachung
noch anderer Einreichungen bei der SEC und sollen auch nicht als
solche betrachtet werden.
Paramount und seine Direktoren, Hauptgeschäftsführer sowie weitere
Mitglieder der Geschäftsführung gelten bei der Einholung von
Legitimationsübertragungen von Paramount-Aktionären als an der
Transaktion beteiligte Personen. Informationen über Paramounts
Direktoren und Hauptgeschäftsführer wurden im Rahmen der
Legitimationsübertragung für die jährliche Gesellschafterversammlung
des Jahres 2009 dargelegt, die am 8. Januar 2009 bei der SEC
eingereicht wurde. Information bezüglich der Kapitalbeteiligung
dieser beteiligten Personen sowie weiterer Personen die unter
Umständen ebenfalls als an der Transaktion beteiligte Personen
gelten, können in der Legitimationsübertragung für diese Transaktion
nachgelesen werden, sobald sie veröffentlicht wird.
Warnhinweis über als "angedeutete" und "vermutete" Ressourcen
ausgewiesene Schätzwerte für US-Investoren: In dieser
Pressemitteilung werden die Begriffe "angedeutete Ressourcen" und
"vermutete Ressourcen" verwendet. Obwohl diese Begriffe im Einklang
mit kanadischen Rechtsvorschriften stehen und ausdrücklich zugelassen
sind, weisen wir US-Investoren darauf hin, dass diese Begriffe im
Rahmen des "SEC Industry Guide 7" nicht erwähnt werden und daher im
Normalfall weder in bei der SEC eingereichten Berichten noch in
Registrierungsunterlagen verwendet werden dürfen. "Vermutete
Ressourcen" unterliegen einer Vielzahl von Unsicherheiten
hinsichtlich ihrer tatsächlichen Existenz sowie ihrer
wirtschaftlichen und rechtlichen Bedeutung. Es kann unter keinen
Umständen angenommen werden, dass alle oder Teile dieser "vermuteten
Ressourcen" jemals zu einer höheren Kategorie von Mineralressourcen
gehören werden. Außer in sehr seltenen Fällen dürfen Schätzungen
bezüglich "vermuteter Ressourcen" laut kanadischem Recht niemals als
Grundlage für Durchführbarkeitsstudien oder
Durchführbarkeits-Vorstudien herangezogen werden. Im Normalfall
erlaubt die SEC Emittenten, nicht mit dem "SEC Industry Guide 7"
konforme Mineralreserven nur dann zu melden, wenn diese als
Raumgehalt mit Güteklasse ohne Bezug zu Maßeinheiten ausgewiesen
werden. US-Investoren werden daher ausdrücklich vor der Annahme
gewarnt, dass entweder Teile oder aber das gesamte Mineralvorkommen
in dieser Kategorie zu einem bestimmten Zeitpunkt in echte Reserven
umgewandelt werden wird. US-Investoren werden zudem ausdrücklich vor
der Annahme gewarnt, dass "vermutete" Ressourcen teilweise oder in
ihrer Gesamtheit tatsächlich existieren oder entsprechend
wirtschaftlichen und rechtlichen Vorschriften abgebaut werden können.
SAFE-HARBOR-ERKLÄRUNG UND VORAUSSCHAUENDE AUSSAGEN
In diesem Dokument getroffene Aussagen, die die Transaktion selbst,
den geplanten zeitlichen Rahmen für den Abschluss der Transaktion,
Vorteile und Synergieeffekte aus der Transaktion, zukünftige Chancen
und Möglichkeiten für das zusammengeschlossene Unternehmen, den Wert
und die Vorteile der Transaktion betreffende Erwartungen sowie
weitere Aussagen bezüglich der zukünftigen Erwartungen der
Geschäftsführungen von Paramount oder Klondex und deren
Überzeugungen, Ziele, Pläne und Vorhaben sind als vorausschauende
Aussagen im Sinne des United States Private Securities Litigation
Reform Act von 1995 und anderen gültigen Wertpapiergesetzen zu
verstehen. Jede Form einer Aussage, die nicht auf historischen Fakten
beruht (einschließlich Aussagen, die die Begriffe "glauben",
"planen", "vorausahnen", "erwarten", "schätzen" und ähnliche Begriffe
enthalten), sind ebenfalls als vorausschauende Aussagen zu
betrachten. Eine Vielzahl von bedeutenden Faktoren könnte dazu
führen, dass die tatsächlichen Ergebnisse oder Ereignisse wesentlich
von den im Rahmen von vorausschauenden Aussagen angedeuteten
abweichen. Hierzu zählt u.a.: die Fähigkeit der beiden Parteien, die
Transaktion abzuschließen und die zugehörigen Bedingungen in vollem
Umfang erfüllen zu können; die Fähigkeit und der Zeitpunkt, die für
die Transaktion benötigen Zustimmungen von Börse, Behörden,
Gesellschaftern und Anteilseignern einholen zu können; die möglichen
Auswirkungen von Maßnahmen, die Silvercorp. oder eine andere Partei
ergreifen könnte, um die Transaktion zu verkomplizieren, zu verzögern
oder zu verhindern sowie die Fähigkeit, die geplanten Synergieeffekte
und Vorteile aus der Transaktion und dem Zusammenschluss der
Unternehmen tatsächlich realisieren zu können. Hinzu kommen weitere
Faktoren, die im Rahmen von Paramounts Abschlussbericht sowie dem
Formular für jährliche Informationen näher beschrieben werden und für
das Geschäftsjahr zum 30. Juni 2008 über das Formular 10-K zusammen
mit weiteren Quartalsberichten kürzlich bei der SEC (verfügbar über
www.sec.gov) und den zuständigen kanadischen Wertpapierbehörden
(verfügbar über www.sedar.com) eingereicht wurden. Klondex'
Einreichungen bei den zuständigen kanadischen Wertpapierbehörden
enthalten weitere Faktoren und können über www.sedar.com eingesehen
werden. Sowohl Paramount als auch Klondex lehnen jegliche Absicht
oder Verpflichtung bezüglich der Aktualisierung von vorausschauenden
Aussagen infolge von Ereignissen, die nach der Veröffentlichung
dieses Dokuments eintreten, ausdrücklich ab - es sei denn, die
Unternehmen sind aufgrund von geltenden rechtlichen Bestimmungen zu
einer Aktualisierung verpflichtet.
Ansprechpartner:
Paramount Gold and Silver Corp.
Christopher Crupi
CEO
866-481-2233/613-226-9881
Klondex Mines Ltd.
William Solloway
Präsident
604-638-3273
Jaffoni & Collins Incorporated
David Collins, Ratula Roy, James Leahy
212-835-8500
KDX@jcir.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Paramount Gold and Silver Corp. Discovers Bulk Mineable Gold Targets at San Miguel Project
Delineation drilling to begin immediately on disseminated gold deposits
Chihuahua, Mexico - (MarketWire) – January 7, 2010 The initial phase of target test drilling at Paramount`s 100% owned San Miguel Project in the Palmarejo Mining Camp, Chihuahua State, Mexico has discovered a new, gold-rich, bulk-mineable style of deposit with the potential to meet Paramount`s goal of adding two million ounces of gold resources in the current program.
The test phase has to date drilled 10,191 meters of core into seven different targets. Three of these targets with bulk mineable potential have been moved to the next phase of work-- resource definition drilling-- to begin in January 2010 using a diamond core drill and a reverse circulation drill both contracted from Layne de Mexico SA de CA. Another three targets will continue in the test phase.
Chris Crupi, CEO of Paramount, commented that "our efforts during the past year have focused on understanding the different target styles within our very large property position and identifying the controls governing gold concentrations. With these questions largely answered, we can now focus on resource expansion at the highest priority targets. We are most excited about a new, gold-rich bulk deposit style which could rapidly expand the size and quality of our project." The bulk targets were defined by the following drill hole intersections:
Drill Hole Number Drill Hole Length From (meters) To (meters) Interval Length Au g/t Ag g/t
SF-09-01 362.75 116.0 124.7 8.7 1.01 38.4
151.8 163.6 11.8 2.10 9.4
SF-09-02 356.65 109.0 112.2 3.2 1.01 65.3
157.0 188.0 31.0 1.35 7.2
GU-30* 194.00 51.3 54.4 3.1 1.27 16.8
103.60 106.6 3.0 2.38 22.4
135.6 190.8 55.2 0.74 9.5
Diamond drill hole GU-30 was completed by a previous operator and re-split and sampled by Paramount, results are Paramount re-assay results.
Paramount owns a 100% interest in the 188,461 hectare (approximately 466,000 acre) San Miguel property in the Palmarejo District of northwest Mexico, making it the largest claim holder in this rapidly emerging precious metals mining camp. Four target styles are now recognized on the San Miguel Property which have evolved out of surface work by Paramount geologists, compilation and interpretation of past drilling by Paramount and previous operators and the first phase target testing just completed.
1. Disseminated gold-dominant synvolcanic occurrences: This style of target is intimately associated with intrusive feeder zones to fissure eruptions and small volcanic dome complexes that follow roughly east-west trending structures. These occurrences are represented by quartz veins, stockwork and breccia that surround and crosscut the intrusive rocks. Mineralized bodies are believed to be several hundreds of meters along strike and up to 100 meters across. (San Francisco area and Monte Cristo area)
2. Gold-rich quartz sulfide veins: These targets are restricted to north-northwest or north-northeast trending structures, in well developed and discrete quartz veins. Pyrite and chalcopyrite are the principal sulfide minerals associated with this occurrence. This style of occurrence is found along the margins of subvolcanic intrusive within vein structures. (North San Miguel Vein)
3. Polymetallic silver veins: This target type is restricted to north-northwest or north-northeast trending structures, in well developed and discrete quartz veins. Pyrite, galena, hypogene hematite and carbonate minerals are associated with this occurrence. (San Antonio Target)
4. Polymetallic silver-gold veins: These targets are restricted to north-northwest or north-northeast trending structures, in well developed and discrete quartz veins. Sphalerite and argentite with less abundant pyrite are the key minerals in this occurrence. This style of target is recognized as a later event superimposed on the previous target styles. (La Union Target)
The resource delineation program will begin in the San Francisco area, drilling three disseminated gold-dominant targets. It is anticipated that this stage of drilling will be completed by the end of March, 2010. Target testing will continue on a fourth target at San Francisco, on the Monte Cristo target area and on North San Miguel Vein. Results from these targets are expected in early March and if warranted, would be included in the delineation drilling program during April 2010. Geological modeling and resource estimations will be initiated as results are received and completion of a revised National Instrument 43-101 resource report is expected in the third quarter of 2010.
Exploration activities at San Miguel are being conducted by Paramount de Mexico personnel under the supervision of Bill Threlkeld a Qualified Person as defined by National Instrument 43-101. An ongoing and rigorous quality control/quality assurance protocol is being employed during the program including blank, duplicate and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed at ALS Chemex., Vancouver, B.C., using fire assay atomic adsorption methods for gold and aqua regia digestion ICP methods for other elements.
Paramount Gold and Silver holds a 100% interest in its principal asset - the San Miguel Project in Chihuahua State, Mexico. For more information visit the Company’s website at www.paramountgold.com.
Paramount Gold and Silver Corp.
Christopher Crupi, CEO
Chris Theodossiou, Investor Relations.
866.481.2233 / 613.226.9881
Bin auf nächste Woche gespannt! Umsätze in Deutschland könnten noch etwas höher sein...
Good Luck
Optionen
| Boardmail an "icetea" |
Wertpapier: Paramount Gold and Silv |
Optionen
| Boardmail an "icetea" |
Wertpapier: Paramount Gold and Silv |
Hallo, Ich versuche mich gerade an der technischen Analyse und habe mir diesen chart vor ein paar Tagen angeschaut. Interpretiere ich das richtig, das wenn sich der Wert über der 1,30€ Grenze hält die Aktie weiteres Potenzial bis 1,67€ hat ?
Auch wenn hier eine gewisse Kausalität gegeben ist, liefert Dir der FFm Chart falsche Ergebnisse!
Ggw. notiert Para im überkauften Bereich (RSI), Korrekturen also nicht ausgeschlossen, Stabilisierung wohl im Bereich 1,90 - 1,95 Dollar!
ABER: Paramount wird geshortet (Ende Dezember 2,5 Mio Stücke). Wenn die 2 Dollar Marke nachhaltig überwunden werden sollte, dann kann es hier ganz schnell nach oben krachen...
We will see
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ju,, ich hab die Dinger auch,, die 1,95 ist ok,,
ich selbst habe mir aus dem Chart die 1.88 erlesen ( für Frankfurt )
ju,, warten wir mal ab was kommt,, in jedem fall ich bleib dabei.
grüße Beny
Program Designed to Expand/Upgrade Resources and Define Economics
WINNEMUCCA, NEVADA--(Marketwire - Sept. 13, 2010) - Paramount Gold (NYSE:PZG)(TSX: PZG) (Frankfurt:PG6)(WKN:A0HGKQ) ("Paramount") announced today a $3 million exploration program designed to expand and upgrade resources at our 100% owned Sleeper Gold Mine Project in Nevada. Paramount is also commencing a study to determine the feasibility for near-term exploitation of the property`s large surface mineral inventory of gold in tailings and heaps. The Sleeper Project was acquired in the recently completed takeover of X-Cal Resources. (See our news release announcing the closing of the acquisition dated August 23, 2010 (http://www.paramountgold.com/news/press_release.asp?ID=100194)).
The exploration program has three main objectives: (1) definition drilling to up-grade resources at the West Wood deposit and prepare it for a Preliminary Assessment ('PA') of its economic potential; (2) delineation drilling to expand and evaluate resources at the Facilities deposit for possible inclusion in the PA; and (3) drill evaluation of up to six new priority targets on the property identified by Paramount's geological team. (See Property Map for targets (http://www.paramountgold.com/_docs/SleeperTargetMap0913.pdf))
Paramount CEO Christopher Crupi noted, "The exploration program will focus on expanding and upgrading in-situ resources on two known gold deposits using core and reverse circulation drilling. We will also begin the process of evaluating the wealth of less explored targets where new deposits could be found. This program has been greatly facilitated by the professional work and the high quality data base contributed by X-Cal management." This first phase of exploration is expected to run until March 2011.
Paramount is also proceeding with a study of the economic potential of the independently estimated 50.3 million tonnes of gold-bearing heaps and tailings on the Sleeper property grading 0.44 grams per tonne (g/t) of gold, containing an estimated 714,000 ounces of indicated gold resources. Detailed sampling and metallurgical testing are being initiated to estimate the value of this resource with the aim of upgrading it to reserves and joint-venturing it with a producer.
"We believe Sleeper's surface mineral inventory could represent an early cash flow opportunity for Paramount," Crupi said.
West Wood Vein Target
The West Wood target is on the southwest corner of the Sleeper Pit and has been extensively drilled to reveal a high grade core zone surrounded by lower grade gold concentrations. With characteristics similar to the original Sleeper deposit, this target has NI 43-101 compliant estimated resources of:
-- Indicated Resources of 16.96 million tonnes grading 0.98g/t of
gold and
4.6g/t of silver containing 530,000 ounces of gold and 2.5
million
ounces of silver at a 0.4g/t Au cutoff;
-- Inferred Resources of 390,000 tonnes grading 0.56g/t of gold
and 2.3g/t
of silver containing 10,000 ounces of gold and 30,000 ounces of
silver
at a 0.4g/t Au cutoff.
An eight hole core program of about 3,200 meters is planned for the West Wood target. This work will concentrate on obtaining sample material for metallurgical testing and collecting geotechnical information for conceptual pit planning. In addition, work is planned to determine the north and south limits for the West Wood target and to upgrade resources. Results are not expected to add significantly to resources but should increase confidence in resource classification and provide fresh material for basic processing and engineering studies required for a PA.
Facilities Target Area
The Facilities Target is on the eastern side of the Sleeper pit and is a broad area of continuous lower grade gold-bearing material. Several drill holes encountered bonanza grade intersections. At present, however, the drill spacing is too wide to define the extent and distribution of the higher grade material. It is anticipated that defining the limits of the higher grade intervals in the Facilities Target should have a positive effect on the grade of this resource. The current NI 43-101 resource estimate is the following:
-- Indicated Resources of 10 million tonnes grading 0.69g/t of
gold and
7.8g/t of silver containing 220,000 ounces of gold and 2.5
million
ounces of silver at a 0.4g/t Au cutoff;
-- Inferred Resources of 19.6 million tonnes grading 0.60g/t of
gold and
6.7 g/t of silver containing 370,000 ounces of gold and 4.2
million
ounces of silver at a 0.4g/t Au cutoff.
A program of 20 reverse circulation drill holes totaling approximately 5,000 meters is planned on the Facilities Target. These holes will be closely spaced horizontal and vertical off-sets to existing bonanza-grade intersections.
New Targets
Approximately 1,250 meters will be drilled to test priority exploration concepts and refine exploration drill strategies. Results from this program are expected to lead to definition of up to six targets for developing additional resources on the project.
This news release has been reviewed by Larry G. Martin, CPG, a Qualified Person pursuant to National Instrument 43-101. Although Paramount Gold is a U.S. domiciled corporation and a full SEC registrant, Paramount reports its mineral resources according to the Canadian standard known as National Instrument 43-101 to facilitate comparison with other similar companies that trade on the TSX.
Cautionary Note to U.S. Investors Concerning Estimates of Indicated and Inferred Resources:
This news release uses the terms "indicated resources" and "inferred resources". We advise U.S. investors that while these terms are defined in, and permitted by, Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves", as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable.
Safe Harbor for Forward-Looking Statements:
This release and related documents may include "forward-looking statements" including, but not limited to, statements related to the interpretation of drilling results and potential mineralization, future exploration work at the Sleeper Gold Mine Project and the expected results of this work. Forward-looking statements are statements that are not historical fact and are subject to a variety of risks and uncertainties which could cause actual events to differ materially from those reflected in the forward-looking statements including fluctuations in the price of gold, inability to complete drill programs on time and on budget, and future financing ability. Paramount's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results, environmental matters, lack of ability to obtain required permitting, equipment breakdown or disruptions, and the other factors described in Paramount's Annual Report on Form 10-K for the year ended June 30, 2009 and its most recent quarterly reports filed with the SEC available on www.sec.gov and applicable Canadian securities regulators available on www.sedar.com and X-Cal's filings with the applicable Canadian securities regulators available on www.sedar.com.
Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.
CONTACT INFORMATION:
Paramount Gold and Silver Corp.
Christopher Crupi, CEO
Chris Theodossiou, Investor Relations
866-481-2233 / 613-226-9881
INDUSTRY: Financial Services - Investment Services and Trading, Manufacturing and Production - Mining and Metals
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Michael Murphy says:
September 24, 2010 at 12:02 pm
@Mark, this is a pdf from June 22 about the X-Cal acquisition:
http://paramountgold.com/_docs/PresentationPZGAcquisitionXCL.pdf
Go to page 5 and you will see that the combined companies already have 4.744 million gold-equivalent ounces. 904,000 of that is measured and indicated.
So even if PZG proves up only, say, 2 million more ounces of gold equivalent in Mexico in the next press release, and only has 4.6 million ounces total there, I don’t see the stock staying under $2 after the news comes out. Mexico then becomes a salable amount on its own, in part because mining costs are relatively low there and except for a mill, the infrastructure is in.
Plus – Chris Cruppi has said repeatedly that PZG is keeping potential partners apprised of how things are going.
And Chris Theodossiou, the PR guy, told me the on-site people in Mexico are very excited. I expect to meet him and the CFO in Nevada at the Sleeper Mine project sometime soon.
Valuation: Paramount had 54K oz of indicated and 2.6M oz of inferred as of the November 2008 resource report. X-Cal had 850K of indicated and 1.2M oz of inferred as of November 2009. Put them together and you have the 4.7M oz. But we know PZG has found a lot more gold in the almost two years since their last Resource Report Also, X-Cal has heap leach pads and tailings above ground with 713k oz of gold and 4.2M oz of silver, which PZG can JV out or maybe even start recovering on their own.
The combined companies are being valued at only $39 per gold ounce equivalent based on the last, out-of-date resource reports. The next cheapest competitors are being valued at $90 per oz, and most of the junior exploration companies are valued around $125/oz or $200/oz. At $90 per oz, PZG would be at $3.55 a share. At $125/oz, $4.94. At $200/oz, $7.90.
Take those numbers up for the additional gold they have discovered, and up again for an acquisition premium.
So the question is: What is the negative I don’t know I don’t know? Why does the market allow this gross undervaluation to continue? And what possible negative could there be that Albert Friedberg doesn’t know? I will ask Chris Theodossiou that question when we meet, but the most likely answer is: “Don’t know.”
Chihuahua, Mexico - (MarketWire) -October 6, 2010, Resource definition drilling continues to progress successfully on bulk-mineable gold deposits in the San Francisco area discovered by Paramount Gold and Silver Corp. ("Paramount Gold") in December 2009. Earlier drilling focused on the South and North San Francisco zones which have expanded steadily as reported in news releases dated January 7, March 8 and June 17, 2010. More recent drilling has discovered a further Central zone (see drill results below). Although the San Francisco area remains open, a geological model is in preparation to evaluate results and generate an initial resource estimate while exploration continues. San Francisco is one of four targets currently being drill tested at Paramount Gold’s San Miguel project in northwestern Mexico.
Christopher Crupi, CEO of Paramount said "the San Francisco target area is opening up into a much larger system than we originally anticipated. We now see the potential for a much larger, shallow bulk-mineable gold resource with associated silver grades. Preliminary metallurgical tests from this area are also encouraging."
Paramount owns a 100% interest in the 188,000 hectare (465,000 acre) San Miguel Project in the Palmarejo District of northwest Mexico, making it the largest claim holder in this rapidly growing precious metals mining camp.
San Francisco is hosted by fractured and stockwork volcanic rocks and veins at intersections of north-northwest and northeast structures in an area 300 meters wide and at least 700 meters long. The zone remains open to the north, east and down dip with significant additional drilling required to fully delineate the zone. The most recent results are as follows:
Hole No. Total Depth (m) From (m) To (m) Interval (m)* Au g/t Ag g/t
SF-10-25 350.50 19.75 24.90 5.15 0.70 7.4
109.50 118.70 9.20 1.12 54.9
194.95 199.10 4.15 0.37 5.5
SF-10-29 240.70 5.45 12.40 6.95 1.16 12.8
17.25 32.00 14.75 1.98 7.4
36.60 41.85 5.25 0.20 0.9
78.30 101.00 22.70 0.83 20.8
130.40 135.95 5.55 0.44 2.9
139.55 199.40 59.85 0.64 11.7
206.55 209.65 3.10 0.55 3.1
SF-10-30 310.85 70.65 75.95 5.30 0.38 6.8
79.95 93.70 13.75 0.33 5.1
105.10 111.80 6.70 0.45 10.1
120.20 150.45 30.25 0.43 7.5
157.90 171.55 13.65 0.45 2.0
279.45 284.30 4.85 0.25 1.6
SF-10-32 292.60 115.30 119.25 3.95 4.85 48.1
125.00 132.15 7.15 0.57 20.1
SF-10-33 252.95 8.55 16.20 7.65 0.91 16.3
22.05 24.20 2.15 1.02 8.4
147.15 150.20 3.05 0.55 25.4
SF-10-34 161.45 47.15 79.60 32.45 2.76 10.8
99.30 104.30 5.00 0.45 9.6
*The true width of these intersections remains uncertain with geological modeling and additional drill testing required to fully establish the true widths of intervals.
Drilling at San Miguel continues with two rigs on several new targets and further results will be reported shortly. Results from the San Francisco area will be incorporated into a new San Miguel resource estimate expected in early 2011.
Exploration activities at San Miguel are being conducted by Paramount Gold de Mexico S.A de C.V personnel under the supervision of Bill Threlkeld a Qualified Person as defined by National Instrument 43-101. An ongoing and rigorous quality control/quality assurance protocol is being employed during the program including blank, duplicate and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed at ALS Chemex, Vancouver, B.C., using fire assay atomic adsorption methods for gold and aqua regia digestion ICP methods for other elements.
For more information on the Corporation visit the Company’s website at www.paramountgold.com
Safe Harbor for Forward-Looking Statements:
This release and related documents may include "forward-looking statements" including, but not limited to, statements related to the interpretation of drilling results and potential mineralization, future exploration work at the San Miguel Project and the expected results of this work. Forward-looking statements are statements that are not historical fact and are subject to a variety of risks and uncertainties which could cause actual events to differ materially from those reflected in the forward-looking statements including fluctuations in the price of gold, inability to complete drill programs on time and on budget, and future financing ability. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results, environmental matters, lack of ability to obtain required permitting, equipment breakdown or disruptions, and the other factors described in Paramount’s Annual Report on Form 10-K for the year ended June 30, 2010 and its most recent quarterly reports filed with the SEC available on www.sec.gov and applicable Canadian securities regulators available on www.sedar.com. Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.
Paramount Gold and Silver Corp.
Christopher Crupi, CEO,
Chris Theodossiou, Investor Relations.
866.481.2233 / 613.226.9881
5. Then move on to the three individual miners I have recommended. Paramount Gold & Silver (PZG) filed their 10-K and said: “Drilling has shown that the well-mineralized portion of the San Miguel vein is more than a kilometer in strike length and extends to at least 400 meters depth. It has been tested with 61 core holes. At La Union (fewer drill holes) the well-mineralized portion is at least 400 meters long, and at least 125 meters depth. La Union has been tested with 21 core holes. Within both zones mineralization appears relatively consistent in grade and thickness.” That’s a good-sized open pit mine.
Chris Crupi, the CEO, is on a European road show today (Zurich, Paris) and tomorrow (Nice). He’ll be back in London on October 18 and 19, and then Geneva on October 20. On November 8 he’ll be in New York City. In this latest radio interview he said there will be an update on what they are finding in Mexico very soon (skip ahead to where he starts talking 90 minutes into the show). You can load up on PZG at current prices and all the way up to $2 for my $15 target.
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Symbol Price Change
PZG 1.6600 +0.0500
{"s" : "pzg,pzg.to","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: Paramount Gold and Silver Corp. On Wednesday October 20, 2010, 11:00 am
WINNEMUCCA, NEVADA--(Marketwire - 10/20/10) - Paramount Gold (AMEX:PZG - News)(TSX:PZG - News) (Frankfurt: WKN:A0HGKQ) ("Paramount") announced today that its drill program to expand gold resources at its recently acquired Sleeper Gold Project in Nevada will commence next week. Details of the $3 million exploration program were announced by Paramount on September 13, 2010.
Summary of drill program:
The exploration program will focus on two resource areas near historical mining, the West Wood Vein and the Facilities target.
At West Wood, the program is designed to:
-- Confirm the geological model on which the existing resource estimate was based;-- Test the potential for a significant strike extension to the north of the West Wood resource area and;-- Collect samples for use in metallurgical test work as the next step in completing a Preliminary Economic Assessment of the West Wood resource.
On the Facilities target drilling will concentrate on:
-- Evaluating the potential for expansion of high grade vein occurrences in the target area;-- Collect new mineralized material for use in metallurgical test work; and-- Increase the drill density to upgrade the classification of inferred resources in the resource area.
Other existing targets are being evaluated and prioritized for inclusion in the program. "Paramount is aggressively pursuing its strategy of developing new gold resources around existing mining camps situated in geological environments with exceptional potential for the discovery of large deposits and we are especially excited to commence drilling on the Sleeper project, our second large-scale resource expansion program", Paramount CEO Christopher Crupi said.
For more information on the Corporation visit the Company's website at www.paramountgold.com.
Safe Harbor for Forward-Looking Statements: