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Stock Market & Financial Investment News

News Breaks
June 19, 2014
08:13 EDTPZGParamount Gold & Silver announces new PEA for San Miguel Project
Paramount Gold and Silver announced that its independent consultants are nearing completion of a new NI-43-101 compliant resource estimate for its 100%-owned San Miguel Project in Northern Mexico to be followed by a revised Preliminary Economic Assessment, or PEA, for the project. A PEA is a complete, integrated project design which estimates mining and processing methods and rates of production, capital and operating costs, cash flows at specified metal prices, rates of return, mine life and net present values at a proposed discount rate. Mine Development Associates of Reno, Nevada is currently preparing the new resource estimate to incorporate the results of drill holes within the resource areas since the last estimate prepared in September 2012. The updated resource estimate is expected to materially upgrade resources from the inferred classification to measured and indicated classifications as well as increase the overall size of the resource. A revised PEA for the San Miguel project will follow the completion of the resource estimate, once again prepared by Metal Mining Consultants of Denver, CO. The revised Mine Plan will incorporate: the new resource estimate; current gold/silver prices; a heap leach scenario for the San Francisco and San Antonio zones; and a reconfigured model using smaller ore blocks. The new heap leach scenario at San Francisco and San Antonio is the result of the Company's foresight to evaluate material which was not included in the previous mill-only PEA scenario. The metallurgical work completed by McClelland Laboratories of Reno, NV confirmed that heap leaching this material is a likely scenario and could increase estimated resources, mine life and project economics.
News For PZG From The Last 14 Days
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April 17, 2015
16:07 EDTPZGParamount Gold & Silver completes merger with Coeur Mining
Paramount Gold and Silver (PZG) announced that the proposals related to the merger agreement with Coeur Mining (CDE) were approved by both Paramount and Coeur stockholders and that the transaction has closed. Immediately prior to the consummation of the merger, Paramount distributed pro rata to its stockholders 8,101,371 shares of Paramount's wholly-owned subsidiary, Paramount Gold Nevada Corp. SpinCo is expected to begin "regular way" trading on the NYSE MKT on April 20 under the symbol "PZG", CUSIP number 69924M109. In connection with the completion of the transaction, Paramount's common stock will be delisted from the NYSE MKT and Toronto Stock Exchange. Paramount will no long trade as an independent company after market close and will be a wholly-owned subsidiary of Coeur.
April 10, 2015
05:10 EDTPZGParamount Gold & Silver receives listing approval for SpinCo on NYSE
Paramount Gold and Silver (PZG) announced that its wholly-owned subsidiary Paramount Gold Nevada Corp. has received approval from NYSE Regulation, Inc. for listing of Paramount Gold Nevada on the NYSE MKT, subject to SpinCo being in compliance with all listing standards on the date it begins trading on the Exchange. Paramount intends to spin-off of Paramount Gold Nevada as a separate, publicly traded company in connection with the previously announced merger of Paramount and Coeur Mining (CDE). Paramount stockholders of record at the close of business on April 14, will be entitled to receive one share of common stock of SpinCo for every 20 shares of Paramount common stock held by such stockholder, payable or issuable upon the closing of the merger, provided that they continue to hold their Paramount shares at the time of closing of the merger. Cash will be paid in lieu of issuing fractional shares of stock.
April 9, 2015
17:20 EDTPZGParamount Gold & Silver provides spin-off transaction update
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