1. Most Discussed
  2. Gainers & Losers
PGI 3.1¢

News: PanTerra Gold completes share consolidation

  1. Gold and silver producer PanTerra Gold (ASX:PGI) has now completed a consolidation of the company’s issued capital on a one for ten basis.

    Trading on a normal T+3 basis commences on Monday, 16 February 2015.

    The post-consolidation capital structure will have 84,812,720 issued shares, with new holding statements sent to shareholders and option holders advising them of their holdings on a post-consolidation basis.

    Options include:

    - Unlisted Options, exercisable at $1.05 cents expiring 30 September 2015, 1,750,000;
    - Unlisted Options exercisable at $1.05 cents expiring 31 December 2015, 1,200,000;
    - Unlisted Options exercisable at $0.65 cents expiring 31 December 2017, 1,500,000;
    - Performance Share Rights vesting 31 December 2015, 140,000; and
    - Performance Share Rights vesting 31 December 2016, 140,000.

    Las Lagunas

    PanTerra is focused on the Las Lagunas in the Dominican Republic, utilising Xstrata Technology’s patented Albion oxidation process.

    The company’s near term focus will be on sourcing refractory concentrate from third parties, and on developing a new mine within the region to provide additional feed to its process plant.

    This will be followed by investigation of the potential to develop a standalone Albion/CIL project based on identified but stranded refractory resources.

    Las Lagunas re-processes high grade sulphide tailings from historic production at the Pueblo Viejo mine.

    The project is exempted from income tax, with 25% profit share paid to Government from CY2017 after recovery of US$72 million plant construction costs.

    Recoveries achieved from metallurgically complex tailings will significantly improve when processing clean refractory concentrate from a mining operation.

    The project has demonstrated its capacity to produce around 950oz gold equivalent per week with the current plant configuration.

    Central American Mezzanine Infrastructure Fund LP

    PanTerra said in addition to the consolidation, in August 2013 the company issued 50 million redeemable preference shares to Central American Mezzanine Infrastructure Fund LP (CAMIF) at an issue price of US 20 cents per RPS (for US$10 million).

    CAMIF have agreed in principle ‘subject to documentation and shareholder approval’, on a reduction in the number of RPS on a 1:10 basis with a redemption price of US$2 each.

    The number of RPS then on issue would better aligns in a comparative sense to the total number of securities on issue.


Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.