PCP - Paramount Mining
- Thread starter kevro
- Start date
-
- Tags
- paramount mining pcp
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
Hi folks,
PCP ..... holding up well on a "down day" for
the markets .....
Whilst we may see a pullback to test support,
PCP will probaly remain buoyant in April 06,
wit a few key dates this month, where we
might expect some company news:
07042006 ..... spotlight on PCP
21-24042006 ..... minor (finance-related???)
28042006 ..... significant and positive news for PCP ???
have a great weekend
yogi
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
Hi folks,
PCP ..... news update today:
"Hard Rock Diamond Breakthrough for Paramount"
happy days
yogi
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
Hi folks,
PCP ..... ticking up today, ahead of anticipated
positive news over the next week .....
See post above, for key PCP dates.
happy days
yogi
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
..... and so, after the bell today .....
"PCP - Numerous Hard Rock Diamonds for Paramount"
happy days
yogi
springhill
Make the drill work for YOU
- Joined
- 20 June 2007
- Posts
- 2,555
- Reactions
- 11
6 years no post for PCP, they are currently in trading halt waiting to release drill results.
http://www.asx.com.au/asxpdf/20120706/pdf/4278vgfq73mtfs.pdf
Share price 7.4c
Issued shares ~290m
Unlisted options 29m
Market Capitalisation ~AUD 21m
52 week high/low 12.0c/4.0c
Top 20: 86%
Purchased majority of Gunung Rosa Mine
•Purchased shares from PT CKP for the Gunung Rosa asset, with a valid mining license, for USD 5 million (USD 14/ounce of Au) after two years of negotiation and an extensive due diligence comprising;
•Extensive legal due diligence;
•13 drill holes to intersect the JORC Mineral Resource and Reserve and test for further mineralisation;
•Collecting extensive samples underground and in the field and
•Collecting a 600kg bulk sample presently undergoing metallurgical test-work
•So far paid USD 3 million and have control at 51% at project level
•Remaining USD 2 million to be paid July 2012 for 85% at project level (72.25% at PCP level)
•PT CKP will remain 15% shareholder at operating level in Indonesia – backed by prominent captain of Indonesian mining industry, Dr Ir Rozik Soetjipto, Commissioner of the operating Company and COO/Director of PT Freeport, Indonesia
Metal in the ground
High grade (14gpt Au) and shallow (from surface) vein system
Previous DFS1 based upon a Mineral Resource of 358koz Au over 900m strike
Significant in situ Base Metal Sulphide and Silver potential credits of ~$ 160/t2
1-5 parallel vein systems developed on strike but not commercially mined
Ore-body found to be open along strike (>2km) and at depth (>340m) demonstrating, we believe, to have significant upside potential to at least double the Resource
The 2012 Development Plan – AUD 30-50 million
Complete purchase of project to 72.25% (July 2012)
Refurbish the mine to operate under the existing valid Mining License – in the style of KRM’s successful Way Linggo project
Complete metallurgical optimisation test-work, to improve on historic recoveries of 75% (target >85%), and construct plant accordingly
Enter into refining agreement with Indonesian entity to treat Au concentrates from 2013
The 2012 Development Plan: Production Ramp-Up
Produce 10-20koz of Au from existing development drives with access from declines from late 2013 at a cash cost of <USD 500/oz Au - lowest quartile
Expand the development along strike, and on sub-level stopes, re-commission the two vertical shafts to increase production to 30-40koz during 2014
Further expand the mining operation within the existing vein system increasing access declines to increase production to 40-60koz by 2015
Post 2015 - expand into resources identified by exploration
They have provided a comparison with Kingsway (Way Linggo) and Medusa (Co-O).
Kingsway
Total Au Resources (koz) 396
Total Au Reserves (koz) 0
Market Cap (AUD million) 409
EV/Resource oz (AUD/oz) 1,032
Medusa
Total Au Resources (koz) 1,960
Total Au Reserves (koz) 502
Market Cap (AUD million) 1,500
EV/Resource oz (AUD/oz) 765
PCP
Total Au Resources (koz) 569
Total Au Reserves (koz) 147
Market Cap (AUD million) 21
EV/Resource oz (AUD/oz) 59
20 April 2012
Loan conversion finalised
Paramount Mining Corporation Limited (ASX: PCP, “Company”) is pleased to advise that the following credit facility has been partially converted at the election of the lender into shares in the Company, with the terms as follows:
Lender: Resource Global Finance Limited
Loan amount: USD1,000,000
Interest rate: Nil
Conversion amount: USD155,069
Conversion date: 17 April 2012
Other loan terms: Unchanged
Conversion price: AUD4 cents per share
Number of shares: 4,000,000
CORPORATE
The Company held its Annual General Meeting on 18 January 2012, with all resolutions passed by proxy and on a show of hands.
An AUD2,000,000 loan which fell due for repayment on 31 December 2012 was extended on the same terms until 30 June 2012.
Caution.
Cash position remains unclear at the moment as 30 June deadline above passed without comment.
http://www.asx.com.au/asxpdf/20120706/pdf/4278vgfq73mtfs.pdf
Share price 7.4c
Issued shares ~290m
Unlisted options 29m
Market Capitalisation ~AUD 21m
52 week high/low 12.0c/4.0c
Top 20: 86%
Purchased majority of Gunung Rosa Mine
•Purchased shares from PT CKP for the Gunung Rosa asset, with a valid mining license, for USD 5 million (USD 14/ounce of Au) after two years of negotiation and an extensive due diligence comprising;
•Extensive legal due diligence;
•13 drill holes to intersect the JORC Mineral Resource and Reserve and test for further mineralisation;
•Collecting extensive samples underground and in the field and
•Collecting a 600kg bulk sample presently undergoing metallurgical test-work
•So far paid USD 3 million and have control at 51% at project level
•Remaining USD 2 million to be paid July 2012 for 85% at project level (72.25% at PCP level)
•PT CKP will remain 15% shareholder at operating level in Indonesia – backed by prominent captain of Indonesian mining industry, Dr Ir Rozik Soetjipto, Commissioner of the operating Company and COO/Director of PT Freeport, Indonesia
Metal in the ground
High grade (14gpt Au) and shallow (from surface) vein system
Previous DFS1 based upon a Mineral Resource of 358koz Au over 900m strike
Significant in situ Base Metal Sulphide and Silver potential credits of ~$ 160/t2
1-5 parallel vein systems developed on strike but not commercially mined
Ore-body found to be open along strike (>2km) and at depth (>340m) demonstrating, we believe, to have significant upside potential to at least double the Resource
The 2012 Development Plan – AUD 30-50 million
Complete purchase of project to 72.25% (July 2012)
Refurbish the mine to operate under the existing valid Mining License – in the style of KRM’s successful Way Linggo project
Complete metallurgical optimisation test-work, to improve on historic recoveries of 75% (target >85%), and construct plant accordingly
Enter into refining agreement with Indonesian entity to treat Au concentrates from 2013
The 2012 Development Plan: Production Ramp-Up
Produce 10-20koz of Au from existing development drives with access from declines from late 2013 at a cash cost of <USD 500/oz Au - lowest quartile
Expand the development along strike, and on sub-level stopes, re-commission the two vertical shafts to increase production to 30-40koz during 2014
Further expand the mining operation within the existing vein system increasing access declines to increase production to 40-60koz by 2015
Post 2015 - expand into resources identified by exploration
They have provided a comparison with Kingsway (Way Linggo) and Medusa (Co-O).
Kingsway
Total Au Resources (koz) 396
Total Au Reserves (koz) 0
Market Cap (AUD million) 409
EV/Resource oz (AUD/oz) 1,032
Medusa
Total Au Resources (koz) 1,960
Total Au Reserves (koz) 502
Market Cap (AUD million) 1,500
EV/Resource oz (AUD/oz) 765
PCP
Total Au Resources (koz) 569
Total Au Reserves (koz) 147
Market Cap (AUD million) 21
EV/Resource oz (AUD/oz) 59
20 April 2012
Loan conversion finalised
Paramount Mining Corporation Limited (ASX: PCP, “Company”) is pleased to advise that the following credit facility has been partially converted at the election of the lender into shares in the Company, with the terms as follows:
Lender: Resource Global Finance Limited
Loan amount: USD1,000,000
Interest rate: Nil
Conversion amount: USD155,069
Conversion date: 17 April 2012
Other loan terms: Unchanged
Conversion price: AUD4 cents per share
Number of shares: 4,000,000
CORPORATE
The Company held its Annual General Meeting on 18 January 2012, with all resolutions passed by proxy and on a show of hands.
An AUD2,000,000 loan which fell due for repayment on 31 December 2012 was extended on the same terms until 30 June 2012.
Caution.
Cash position remains unclear at the moment as 30 June deadline above passed without comment.
Attachments
springhill
Make the drill work for YOU
- Joined
- 20 June 2007
- Posts
- 2,555
- Reactions
- 11
PCP announce encouraging New Gold Results from Gunung Rosa Drilling
Assay results from three drill holes at depth under the Cap Palu section confirm significantly wider intercepts of gold-copper-base metal mineralisation than previously determined from historic estimated exploration activities. The fourth hole confirms the high grades previously intersected in the central Cisudi section of the 900 metre long vein system, also over a wider zone.
The drilling supports conclusions drawn from the recent airborne magnetic survey that the wider mineralised intersections, associated with pervasive clay-silica alteration of the host rocks, relate to faults bounding and cutting extensive intrusive breccias and porphyry bodies that characterise the host setting.
The new intersections include:
GRD014 16.4m @ 1.19 g/t Au, 4.10 g/t Ag, 0.18% Cu
Including 1.5m @ 7.25 g/t Au, 17.2 g/t Ag, 0.75% Cu
Including 1.0m @ 3.37 g/t Au, 19.1 g/t Ag, 0.36% Cu
GRD015 23.0m@ 1.49 g/t Au, 5.5 g/t Ag, 0.88% Zn
Including 3.30m@ 5.26 g/t Au, 19.1 g/t Ag, 2.44% Cu
Including 0.85m@ 7.05 g/t Au, 10.9 g/t Ag
Including 0.45m@ 3.39 g/t Au, 42.2 g/t Ag, 3.22% Cu
GRD016 20.4m @ 0.25% Zn (width of mineralised envelope)
Including 3.40m@ 2.84 g/t Au with 0.70m @ 10.30 g/t Au
Including 0.30m@ 4.69 g/t Au
Including 1.70m@ 1.76 g/t Au
GRD017 23.5m @ 0.11% Pb, 0.23% Zn (width of mineralised envelope)
Including 18.5m @ 2.09 g/t Au, 2.6 g/t Ag
With 3.2m @ 5.91 g/t Au, 4.6 g/t Ag
Including 1.2m @ 10.99 g/t Au, 7.2 g/t Ag
And with 0.7m @ 13.3 g/t Au, 20.8 g/t Ag
Assay results from three drill holes at depth under the Cap Palu section confirm significantly wider intercepts of gold-copper-base metal mineralisation than previously determined from historic estimated exploration activities. The fourth hole confirms the high grades previously intersected in the central Cisudi section of the 900 metre long vein system, also over a wider zone.
The drilling supports conclusions drawn from the recent airborne magnetic survey that the wider mineralised intersections, associated with pervasive clay-silica alteration of the host rocks, relate to faults bounding and cutting extensive intrusive breccias and porphyry bodies that characterise the host setting.
The new intersections include:
GRD014 16.4m @ 1.19 g/t Au, 4.10 g/t Ag, 0.18% Cu
Including 1.5m @ 7.25 g/t Au, 17.2 g/t Ag, 0.75% Cu
Including 1.0m @ 3.37 g/t Au, 19.1 g/t Ag, 0.36% Cu
GRD015 23.0m@ 1.49 g/t Au, 5.5 g/t Ag, 0.88% Zn
Including 3.30m@ 5.26 g/t Au, 19.1 g/t Ag, 2.44% Cu
Including 0.85m@ 7.05 g/t Au, 10.9 g/t Ag
Including 0.45m@ 3.39 g/t Au, 42.2 g/t Ag, 3.22% Cu
GRD016 20.4m @ 0.25% Zn (width of mineralised envelope)
Including 3.40m@ 2.84 g/t Au with 0.70m @ 10.30 g/t Au
Including 0.30m@ 4.69 g/t Au
Including 1.70m@ 1.76 g/t Au
GRD017 23.5m @ 0.11% Pb, 0.23% Zn (width of mineralised envelope)
Including 18.5m @ 2.09 g/t Au, 2.6 g/t Ag
With 3.2m @ 5.91 g/t Au, 4.6 g/t Ag
Including 1.2m @ 10.99 g/t Au, 7.2 g/t Ag
And with 0.7m @ 13.3 g/t Au, 20.8 g/t Ag
springhill
Make the drill work for YOU
- Joined
- 20 June 2007
- Posts
- 2,555
- Reactions
- 11
● Paramount completes the acquisition of a 72.25% holding in the Gunung Rosa gold-silver-base metal project.
● The acquisition follows a successful 12 month evaluation program of the mine. Next steps include refurbishing the old mine as quickly as possible to bring it into early production.
● Additional drilling at depth under the Cap Palu vein section confirm significantly wider intercepts of gold-copper-base metal mineralisation, and confirms the high grades previously intersected in the central Cisudi section of the vein system, also over a wider zone.
● These assays support the recent airborne magnetic survey interpretation: that the wider mineralised intersections relate to faults bounding and cutting extensive intrusive breccias and porphyry bodies. In addition, the helimag survey produced six new and discrete targets for further exploration.
● The acquisition follows a successful 12 month evaluation program of the mine. Next steps include refurbishing the old mine as quickly as possible to bring it into early production.
● Additional drilling at depth under the Cap Palu vein section confirm significantly wider intercepts of gold-copper-base metal mineralisation, and confirms the high grades previously intersected in the central Cisudi section of the vein system, also over a wider zone.
● These assays support the recent airborne magnetic survey interpretation: that the wider mineralised intersections relate to faults bounding and cutting extensive intrusive breccias and porphyry bodies. In addition, the helimag survey produced six new and discrete targets for further exploration.
