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paramount gold and silver (PZG) Details

Paramount Gold and Silver Corp., an exploration stage company, acquires, explores, and develops gold, silver, and precious metal properties in the United States and Mexico. It owns a 100% interest in the San Miguel property located in southwestern Chihuahua, northern Mexico. The company’s projects also include the Sleeper Gold project located in Humboldt County; the Mill Creek property located to the south of Battle Mountain; and the Spring Valley property located in the Spring Valley area in Pershing County, Nevada. The company was founded in 2005 and is headquartered in Winnemucca, Nevada.

20 Employees
Last Reported Date: 09/9/13
Founded in 2005

paramount gold and silver (PZG) Top Compensated Officers

Founder, Chief Executive Officer, President, ...
Total Annual Compensation: $400.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $289.9K
Chief Operating Officer and Vice President of...
Total Annual Compensation: $375.0K
Corporate Secretary
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

paramount gold and silver (PZG) Key Developments

Paramount Gold and Silver Corp. Announces Results of Preliminary Economic Assessment for its 100%-Owned San Miguel Gold and Silver Project

Paramount Gold and Silver Corp. announced the results of a Preliminary Economic Assessment (PEA) for its 100%-owned San Miguel gold and silver project located in Chihuahua State, Mexico. The PEA was prepared by Metal Mining Consultants Inc. (MMC) of Denver, Colorado incorporating a resource model developed by Mine Development Associates (MDA) of Reno, Nevada. The new PEA confirms that the San Miguel project represents a potentially robust economic opportunity to develop a low-cost mine in the prolific Sierra Madre belt in Mexico. The new PEA adds an efficient, inexpensive open pit, heap leach operation to the front end of the production scenario which helps fund underground mining and related mill construction from cash flow. The new PEA also features a very substantial increase in measured, indicated and inferred resources compared to the 2013 PEA also prepared by MMC. The complete PEA has been filed at SEDAR on August 22, 2014. In their analysis, MMC proposed a 4,000 tonnes per day mill with a heap leaching facility fed by open pits and underground mines, resulting in a projected 17 year operation with a total metal production of 933,000 ounces of gold and 47.1 million ounces of silver (1,700,000 ounces of gold equivalent at the base case gold-to-silver price ratio of 61.4 to 1). Start-up capital costs including owners cost and working capital are estimated at $69.6 million. This is for the development of the heap leach pad and the start of mining operations. Sustaining capital costs over the project's life are projected to be an additional $346.1 million, with 25% sustaining contingency for mill construction included and $21.3 million in EPCM for mill construction in year 2, total life-of-mine capital costs are estimated at $439.5 million. Projected life-of-mine average cash operating costs are $597 per ounce of equivalent gold recovered. The total cost of production (including cash operating costs and total capital and contingency costs over the life of the mine) is estimated at $855 per ounce of gold equivalent, which compares favorably with current producers in the region. Payback for initial capital comes in year 3 of production and payback of mill expansion and underground start-up in year 5.

Paramount Gold and Silver Corp. Releases the Results of New Resource Estimate for the San Miguel Project in Northern Mexico

Paramount Gold and Silver Corp. released the results of a new resource estimate prepared by Mine Development Associates of Reno Nevada (MDA) for Paramount's 100%-owned San Miguel Project in northern Mexico. In the new model, estimated global measured and indicated (M&I) contained ounces of gold increased a robust 76%, from 638,000 to 1,123,000. Estimated M&I contained ounces of silver rose 44%, from 53.6 million to 77.1 million. Inferred resources of gold and silver fell slightly as a portion of the inferred was converted to higher categories but the size of the total resource increased substantially. At a silver-to-gold ratio of 60, estimated M&I gold equivalent ounces total 2,408,000 at an estimated average gold equivalent grade of 1.71 g/T. The new resource estimate has incorporated the following: Data from new core drilling completed within the resource areas since the last update. Geological re-modeling and re-estimation of the San Francisco bulk tonnage gold-silver deposit reflecting the recent success of heap leach metallurgical testing on this material. Review of resource classification parameters based on drill confirmation of the predictability of the resource model, which has enhanced confidence. Resources at the high grade Don Ese underground deposit have increased substantially in the new estimate. Don Ese is located several hundred meters east of the Guadalupe deposit, which it closely resembles, and they probably sit within the same structure. Guadalupe is Coeur d'Alene's key development project at its neighboring Palmarejo mine complex. The large, bulk-mineable San Francisco gold-silver deposit was re-modeled following successful metallurgical testing of its heap leach potential; measured plus indicated contained metal now stands at 126,000 ounces of gold and 3.4 million ounces of silver, plus a further 566,000 ounces of gold and 14.7 million ounces of silver in the inferred category. The updated PEA is expected to include a heap leach component for San Francisco.

Paramount Gold and Silver Corp.(AMEX:PZG) dropped from Russell 2000 Index

Paramount Gold and Silver Corp. will be removed from the Russell 2000 Index.


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