NYSEAM:PZG - Post by User
Comment by
SevenFigureson Sep 13, 2011 6:34pm
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Post# 19038677
RE: RE: Congrats Paramount, as ICN owns 400,000 sh
RE: RE: Congrats Paramount, as ICN owns 400,000 shYou are correct regarding the 43-101 resource mentioned in the news release, I should have been a bit more clear.
To clarify, the NSR's I referred to as applying to "a portion of it" are to the 12,000 acres that is in 8-23-11 PZG news release out the the approximately 28,800 acre total project area (PZG refers to a 45 square mile total project area which is about 28,800 acres). So ICN's 0.5% and 1.5% NSR's apply to 0% of the 43-101 in today's news release, but to 100% of the remaining adjacent project area. (0.5% applies to approximately 7,400 acres, 1.5% is for about 4,600 acres)
Interesting that the 43-101 cutoff in today's news release is based on only $1,100 gold. In any event, ICN Resources is rooting for further PZG success!