Paramount Gold Nevada Corp. - PZG STOCK NEWS

Paramount Gold Nevada Corp. (NYSE American: PZG) has announced a significant milestone for its Grassy Mountain gold mine project in Oregon. The Environmental Evaluation (EE) for the project has been approved as completed during a state Technical Review Team meeting on October 3rd. This approval initiates the 225-day legislated timeline for the issuance of draft permits.

The EE, produced by Stantec under DOGAMI's direction, marks the final step towards obtaining draft permits from the State of Oregon. The company expects to receive these draft permits in May 2025, followed by a public hearing before final permits are issued. This timeline aligns with the Federal record of decision from the BLM scheduled for late 2025.

The Grassy Mountain feasibility study projects an average annual production of 47,000 ounces of gold and 55,000 ounces of silver. At a gold price of $2,100 per ounce, the post-tax project NPV increases from $114 million to $189 million.

Paramount Gold Nevada Corp. (NYSE American: PZG) has announced that its Annual General Meeting (AGM) will be held virtually on December 12, 2024, at 11:00 AM EST. The record date for stockholder voting eligibility is set for October 17, 2024. Proxy materials will be available from November 1st on the company's website and at www.edocumentview.com/PZG.

The company also disclosed that it filed its annual audited financial statements for the fiscal year ended June 30, 2024 on Form 10-K with the SEC on September 26, 2024. Notably, the audit report included a going concern qualification. This disclosure is required by NYSE American Company Guide but does not represent any changes to the company's filings for the fiscal year.

Paramount Gold Nevada Corp. (NYSE American: PZG) has announced a significant milestone in the permitting process for its Grassy Mountain gold mine project in Oregon. The Environmental Evaluation and Socioeconomic Analysis (EE) documents are now available for public review before the Project Coordinating Committee meeting on September 12, 2024. Final approval of the EE is expected in early October, allowing state agencies to begin drafting permits, which Paramount anticipates receiving in mid-2025.

The EE, completed by Stantec under DOGAMI's direction, confirms that the project is designed to surpass all viable alternatives and is expected to have positive economic impacts on local, state, and federal budgets. The analysis predicts minimal environmental impacts and minor, beneficial effects on environmental justice communities. Paramount expects to receive both Federal and State permits in late 2025, paving the way for construction to begin shortly after.

Paramount Gold Nevada announced a joint reclamation bond for its Grassy Mountain gold mine with the Oregon Department of Geology and Mineral Industries (DOGAMI) and the Bureau of Land Management (BLM). This Memorandum of Understanding (MOU) eliminates the need for separate reclamation bonds, reducing capital requirements and administrative burdens. The single financial security amount will be determined after Paramount submits the reclamation cost estimate. This coordinated state and federal effort will streamline the process, prevent delays, and ensure protection and monitoring of mining disturbances on both federal and private lands.

Paramount Gold Nevada Corp. (PZG) announces the Bureau of Land Management has initiated the Environmental Impact Statement process for the Grassy Mountain mine. The company aims to provide employment opportunities and economic growth to Malheur County through this project.

Paramount Gold Nevada Corp. (PZG) has closed a $15 million financing with Sprott Resource and Streaming Royalty Corp. to fund the Grassy Mountain Gold Mine in Oregon and for general corporate purposes. The financing will be used to repay outstanding debt and carry an interest rate of 10% per annum. The RCN may be repaid in cash or through the issuance of the Royalty at the earlier of the commencement of commercial production or 5 years from the RCN closing date. Paramount has the option to buy back 50% of the Royalty by paying either $11.25 million on the 2nd anniversary of the RCN agreement or $12.375 million on the 3rd anniversary.

Paramount Gold Nevada Corp. (PZG) announces the results of its annual general meeting, with 55.03% of outstanding shares voting. The stockholders elected eight individuals to the Board of Directors. Detailed voting results and ratification of the independent registered public accounting firm are provided.

Paramount Gold Nevada Corp. has received the Notice to Proceed from the Oregon Department of Geology and Mineral Industries (DOGAMI) to move Grassy Mountain into the next phase of permitting. The final consolidated permit package is expected to be issued within one year. The Environmental and Socioeconomic Evaluation (EE) by Stantec is currently underway and is expected to be released in early 2024. This milestone is a key condition precedent for a $15 million financing term sheet with Sprott Resource and Streaming Royalty Corp.

Paramount Gold Nevada Corp. (NYSE American: PZG) announced that its CEO, Rachel Goldman, will be presenting at the Red Cloud Fall Mining Showcase on November 8th at 9:30 AM Eastern Time.