The Iberian Peninsula contains a number of known gold deposits situated within two major mineralised zones, namely the Iberian Pyrite belt, which runs along southern Spain and Portugal, and the Iberian Gold Belt, which covers northern Spain and Portugal. The mineralisation in these two zones tends to be refractory and metallurgically complex, with existing mines producing relatively low value concentrates for sale to overseas roasters rather than high value dore production. The region has a number of undeveloped resources in the 500,000 to 2 million oz Au range, making them ideally suited for the Albion Process and the standard 50,000 tonnes per annum plant concept developed by the PanTerra Group. Road transportation routes within Portugal and Spain are extensive and well developed, and being part of the EU, there are no cross border restrictions on transport of concentrate, which opens up further opportunity for the development of smaller resources that cannot justify a standalone plant. There are no gold mines currently operating in Portugal, but the Portuguese government is actively encouraging investment in the mining sector, with a focus on importing technology for the processing of refractory ores which could lead to business opportunities for PanTerra Gold.