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PanTerra Gold (ASX: PGI), formally known as EnviroGold, is a near term gold producer at its Las Lagunas project in the Dominican Republic with construction scheduled for completion in December 2011. The project has an expected life of seven years at an annual production rate of 65,000 ounces of gold and 600,000 ounces of silver.
PanTerra Gold is also active in Ecuador with the advanced Azuay Gold Mining project and the San Gerardo Gold Mining prospect. At the Azuay project, construction is targeted to commence in mid 2012.
EnviroGold proposes name change to PanTerra Gold ahead of TSX listing
EnviroGold (ASX: EVG) is considering changing the company’s name to PanTerra Gold Limited in advance of its application to the Toronto Stock Exchange (TSX) for dual listing in early October 2011.
A shareholders meeting will be held in the near future to decide on the name change.
The company said the proposed new name is generic, will avoid confusion, and be understood in the Latin American countries where the company operates.
EnviroGold is proposing the listing on the main board of the TSX to tap a wider base of investors including North American investors that have a keen understanding of mining projects in Latin America.
Brian Johnson, executive chairman of EnviroGold, said “I have received numerous approaches from prospective investors querying whether EnviroGold identified itself as a technology company promoting the Albion process for oxidation of refractory ores, rather than as a traditional mining company.”
“This obviously is not the case, nor will the reprocessing of high grade tailings similar to the Company’s Las Lagunas project, be a core component of future business development.”
“The Azuay project in Ecuador involving the expansion of four existing small scale underground gold mines, and active exploration of copper/gold open pit prospects in the Dominican Republic and Ecuador attests to this.”
Progress on the listing "has been slower than expected due to the time taken for consultants to prepare the NI43-101 Technical Report for the Las Lagunas project," according to the company.
However, the company said the Technical Report is now complete and ready for submission. The report is much more comprehensive than an earlier JORC report on resources, and is the cornerstone of the TSX listing application.
