AAU - Antilles Gold

[So_Cynical]

PanTerra Gold (PGI) is the new name of Envirogold (EVG). Previous discussion on EVG can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=7127

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Here's a presentation that was released in Mid September 2011, pretty much spells out where management wants to take the company and explains the new focus on South/Latin America.

http://envirogold.links.com.au/userfiles/file/news/2011_09_19 Presentation to European Investors.pdf

 

[mr. jeff]

announcement in late September worth noting:


"ASX / Media Release
27 September 2011
PANTERRA GOLD’S PROJECTED CASH GENERATION FROM
DOMINICAN PROJECT PARTICULARLY STRONG DESPITE LOWER
GOLD AND SILVER PRICES
Latin American focussed mineral resources company,
(PanTerra Gold or the “Company
of its processing plant for the Las Lagunas gold and silver project in the Dominican Republic is progressing well and scheduled for completion.
Despite recent falls in gold and silver prices, the Dominican project is expected to generate over US$85 million of free cash flow between the first gold pour in March/April 2012 and the end of 2013."

Costs expected to be around US$312/oz.

Could be really interesting, no price action yet.

 

[Sean K]

announcement in late September worth noting:


"ASX / Media Release
27 September 2011
PANTERRA GOLD’S PROJECTED CASH GENERATION FROM
DOMINICAN PROJECT PARTICULARLY STRONG DESPITE LOWER
GOLD AND SILVER PRICES
Latin American focussed mineral resources company,
(PanTerra Gold or the “Company
of its processing plant for the Las Lagunas gold and silver project in the Dominican Republic is progressing well and scheduled for completion.
Despite recent falls in gold and silver prices, the Dominican project is expected to generate over US$85 million of free cash flow between the first gold pour in March/April 2012 and the end of 2013."

Costs expected to be around US$312/oz.

Could be really interesting, no price action yet.

Yep, interesting. If the Albion Technology does work to plan then the Dominican project will make some pretty handy cash. Looking forward to seeing the first results.

I'm not quite sure how they are getting away with the projected Ecuador numbers. They are no where near even a JORC and they are reporting cash flows??

 

[Wombus]

I'm not quite sure how they are getting away with the projected Ecuador numbers. They are no where near even a JORC and they are reporting cash flows??

The reason is that the 'ore body' is high grade tailings. Given the previous mining/processing that has gone on there they know a) the tonnage of tailings there, and b) the expected concentration of gold (to quite narrow tolerances)

They would then need very little drilling/assay results to confirm this information and thus develop a resource.

 

[Sean K]

The reason is that the 'ore body' is high grade tailings. Given the previous mining/processing that has gone on there they know a) the tonnage of tailings there, and b) the expected concentration of gold (to quite narrow tolerances)

They would then need very little drilling/assay results to confirm this information and thus develop a resource.

Is that Ecuador, or the DR? I thought Ecuador was about the old workings and a feasibility done by the previous owners after a few rock chips and exploration holes.

 

[Wombus]

Is that Ecuador, or the DR? I thought Ecuador was about the old workings and a feasibility done by the previous owners after a few rock chips and exploration holes.

Sorry, you are right. When I read excited about cash-flow, I just assumed it was talking about Dominican Republic and Las Lagunas.

Ecuador (the Azuay project) is purely in scoping study phase, they never claimed a JORC resource, but they are estimating what could be achievable from what they 'know' about the region.

 

[mr. jeff]

Movement with volume coming in. Not proven sustained yet, but watching now.



You can see that since the renaming from Envirogold, price action has moved favourably, yet slowly, however with production nearing and low recovery costs, it is perhaps becoming attractive.

I have also noted some small gold stock movement up with volume which may finally signal a turn around to the strong selling over the past months which have seen MC's come back to attractive levels. Whatever that means - but they are a lot less than before!

Noting stocks such as SLR, NMG, NST.

 

[Starcraftmazter]

Noting stocks such as SLR, NMG, NST.

Aye I'm holding NST currently, this one looks pretty damn good. Will look for a pullback, though I'm not sure if there will be enough sellers for it. Give it until the end of the week maybe to see what's going on.

 

[So_Cynical]

You can see that since the renaming from Envirogold, price action has moved favourably, yet slowly, however with production nearing and low recovery costs, it is perhaps becoming attractive.

Becoming attractive at 20c a share... personally i thought it looked pretty darn attractive at 4c per share a couple of years ago.

With the Novus take over completed they have some more ground in DR and the recent positive tax ruling is also a new positive, first pour getting closer....i really want 25 CPS for this and believe ill get it next FY as long as POG holds up.

 

[Sean K]

Sorry, been out of the office and haven't checked but is the DR plant actually producing anything yet? Does the new technology bring up gold economically here?

 

[So_Cynical]

Sorry, been out of the office and haven't checked but is the DR plant actually producing anything yet? Does the new technology bring up gold economically here?

They released an investor presentation in late March.

http://www.asx.com.au/asxpdf/20120328/pdf/4259jp40w74l8h.pdf

Gold due to start flowing in May...ore stockpiling has begun, plant commissioning under-way.
~

 

[So_Cynical]

Over 4 years in the making...the worlds first Albion plant...aint she pretty. soon to be producing gold and silver for a cash cost of less than 340 USD an Ounce (Au equivalent)....sweet.

http://www.asx.com.au/asxpdf/20120423/pdf/425rxvll7y6dbj.pdf
~

 

[Sean K]

Over 4 years in the making...the worlds first Albion plant...aint she pretty. soon to be producing gold and silver for a cash cost of less than 340 USD an Ounce (Au equivalent)....sweet.
~

Looks very nice.

When's the first pour?

$340 an ounce will be an amazing achievement.Wasn't it a bit less than that not long ago?

 

[Sean K]

Should get the first months production update shortly. No update on progress so assume all going to plan. Will be extremely interesting to see how she operates.

First ore throughput is scheduled for week commencing 7 May 2012.

 

[So_Cynical]

PGI trading at 12.5 cents last week...a very very tempting entry point one would think, considering the trading range top of 21 cents and all the fundamental positives.

POG looks to be consolidating now, the world is ending for the 4rd or 5th time since 2008

 

[Sean K]

Gold due to start flowing in May...ore stockpiling has begun, plant commissioning under-way.
~

Yes, from a presentation in April:

Las Lagunas project scheduled to start production and generate positive cash flow May 2012

"positive cash flow"

However, did I read that their plan was to make some sort of silver/gold giant ingots that had to be sent to Europe to be further refined, or something?

Sounded mighty bizaar to me.

 

[Sean K]

At last report all was going swimmingly for PGI with no known impediments to the first dore pour. (not gold as we've expected but something that needs to be refined in Europe)

Suddenly, something didn't turn up, that seems to be important.



UPDATE ON OPERATION OF ALBION/CIL PROCESSING PLANT, LAS LAGUNAS GOLD & SILVER PROJECT, DOMINICAN REPUBLIC

PanTerra Gold Limited (ASX: PGI) (PanTerra Gold or the “Company”), advises that its Albion/CIL processing plant at Las Lagunas in the Dominican Republic has been functioning as expected since commencement on 23 May 2012, but operations have been temporarily suspended while improvements are made to the rate and density of feed to the plant.

The bucket wheel dredge which will feed the plant has been delivered late to the site by the manufacturer and will be installed this week, and the plant restarted.

During the past two weeks, feed has been delivered from a cutter suction type dredge which is not ideal because it is designed to produce relatively large volumes of solids, but not at the consistent density which will optimise the efficiency of the plant. This dredge will continue to be used for mining to stockpiles and creation of voids into which reprocessed tails will be placed behind bund walls.

As a consequence of the above, production of gold and silver doré will be delayed.

A further update on the operating status will be provided next week after recommencement of the process plant.

Surely they knew this would be an issue?

First major X

 

[Sean K]

With all the promises of 'production' they're still off the mark.

Todays ann after explaining the delay:

In the following week, the CIL circuit should be fully loaded and nearing gold and silver production.

 

[Sean K]

Encouraging that they're providing regular updates now and it looks back on track.

ASX/Media Release
26 June 2012

UPDATE ON OPERATION OF ALBION/CIL PROCESSING PLANT, LAS LAGUNAS GOLD AND SILVER PROJECT, DOMINICAN REPUBLIC

PanTerra Gold Limited (ASX: PGI) (PanTerra Gold or the “Company”), advises that its Albion/CIL processing plant in the Dominican Republic is operating to expectation with feed running at 80% of design capacity. The plant is expected to accept feed at 100% capacity (100tph) within two weeks, and much earlier than budgeted.

After ultrafine grinding, high grade tailings from the Pueblo Viejo mine (3.8g/t Au, 30.8g/t Ag) are being concentrated through flotation cells and delivered to the Albion oxidation tanks which have been operating with reduced oxygen flow levels during the start-up period, but are now operating at the stabilised design output of the two trains of the oxygen plant.

Oxidised slurry from the Albion circuit is fed to the standard CIL agitated tanks and when activated carbon in the tanks has fully adsorbed gold and silver, stripping and smelting of doré bars will commence.
A further status report on the operation of the process plant will be provided next week. Photos of the dredging operations and the plant are attached.

 

[So_Cynical]

Here is a little 8 page presentation of what the DR operation looks like...lots a pictures.

http://www.panterragold.com/userfiles/file/news/26_6_2012 LL project update Albion CIL.pdf