Paramount Gold Nevada Corp. (PZG) has seen a decrease of 7.46% in aftermarket following an update in SEC filing. However, the last trading session closed at $0.67 with a decrease of 0.65%.
A glimpse of the Year 2021 by PZG – What’s going on?
PZG announced the review of the year 2021 and their expectations in 2022 on 14th January 2022. Despite an economic, fiscal, and monetary backdrop that was widely thought to be favorable to gold prices and related equities, the gold sector faced numerous obstacles last year.
Moreover, the company also started the first drill program in over 30 years at the Frost project, which is about 12 miles distant, to maximize the return profile at Grassy Mountain. The program will follow up on earlier gold intercepts of up to 25 grams per tonne (g/t) as well as test previously indicated new targets. The final assay findings and associated analyses should be available soon.
Consolidated Permit Application by PZG – What is it?
On 22nd December 2021, PZG reported that the team has submitted the permit application. This application is meant to request permission to build and operate its proposed high-grade gold mine in Malheur County, Oregon. The company is certain that the CPA will achieve administrative completeness as a consequence of the comprehensive evaluation and subsequent adjustments.
With the submission of the updated CPA, the possibility of gaining permits and moving Grassy closer to production will be a watershed event for eastern Oregon communities and the state. Lastly, the production scenario presents a significant value-creation opportunity for the stockholders, which is equally crucial.
So what?
The dedication to ensure that the proposed mine meets and surpasses all of the combined standards under Oregon. And federal regulations reflect in the submission of updated applications to the BLM and the DOGAMI. In addition, the company appreciates the high degree of cooperation from all state permitting agencies, which considerably aided PZG in addressing the issues raised by the state’s completeness review. Lastly, the company remains confident in the capacity to obtain permits, construct Grassy Mountain, and operate the facility.
