The CompanyPanTerra Gold Limited, based in Sydney Australia, is an emerging gold producer focussed on the development of gold and silver properties in Latin America hosting refractory ore which requires oxidation prior to metal recovery through standard carbon-in-leach ("CIL") processing. Current activities are concentrated on the ramp-up of production from the Las Lagunas tailings retreatment project ("Las Lagunas Project") in the Dominican Republic, which had its first gold pour on 26 July 2012. The Las Lagunas project involves recovery of gold and silver from high grade refractory tailings from the Pueblo Viejo mine. Based on pilot plant testwork, and following completion of the ramp-up phase of the process plant in Q1 2013, annual production is targetted at 69,000 oz gold and 630,000 oz silver. PanTerra Gold utilises Xstrata Technology's patented Albion oxidation process which renders inert and non-soluble, toxic sulphur and arsenic contained in the refractory ore, thereby eliminating the threat of acid mine drainage, and providing a net benefit to the environment. In addition to the Las Lagunas project, PanTerra Gold holds approximately 30,000ha of highly prospective exploration concessions in the Dominican Republic, and proposes to construct a commercial Albion/CIL plant in northern Peru to treat refractory concentrates from mines in the region. The Company expects to grow through a combination of new developments, acquisitions, and mergers. Near term cash flow from the Las Lagunas project should provide equity for the exploration and development of mining prospects in the Dominican Republic, and an active exploration program of other open pit mining targets in Latin America. The 8600ha La Paciencia concession in the Dominican Republic, which is along strike and underlain by the same geology as Barrick Gold Corp's 25 million oz Pueblo Viejo refractory gold deposit, is also likely to host refractory ore, and future exploration will be aimed at producing feed for the Las Lagunas process plant to extend its operational life. Development of mines on any of PanTerra Gold's current Dominican exploration areas, other than La Pacienca, would probably result in the production of a copper/gold/silver concentrate, and would not utilise the Albion oxidation process. PanTerra Gold has an experienced management team in place, led by its Executive Chairman, Brian Johnson, the founder and former Managing Director of Mount Gibson Iron Limited and Portman Mining Limited, and Chairman of Nevada Goldfields Inc., and East Africa Gold Mines Limited. The Group's Managing Director, Andrew Pooler, who is based in Vancouver, is an experienced Mining Engineer having been employed in the mining industry for 28 years, with a significant period in Latin America at senior executive level with Amax Gold Corp, KGHM Ajax Inc., and Pan American Silver Corp. Anthony Edgar, President of Dominican operations, has 30 years mining experience in the US and Latin America, and has held senior management positions with Pan American Silver, Newmont Mining Corporation and URS. |