PGO 0.00% 5.7¢ primary gold limited

News: Primary Gold to secure financing arrangements

  1. Primary Gold (ASX:PGO) has been granted an ASX trading halt regarding its future financing arrangements.

    The halt will last until the announcement being made or the start of trade on Wednesday, 11th February 2015.

    During the December Quarter 2014, the company updated the financial model for restart of gold production at its Toms Gully gold mine in the Northern Territory.

    At an assumed spot gold price of A$1,550, the project is expected to have C3 costs (less once-off start-up Capital) of between A$985 to A$995 per ounce.

    Project cash flow is expected to be A$47 million to A$52 million for a three-year Reserve with revenue of between A$220 million and A$225 million.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

GET SUPPORT arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.