PGI is another interesting goldie. Plant is 80% complete. Production to start in March/April 2012. Annual production of 65k ounce of gold and 600k ounces of silver over 6.5 years. Has a hedge at USD1358/ounce over around half its annual production over several years (hedged 126k ounces). Project in Dominican Republic.
Has other projects in pre-exploration stage in Ecuador, and Dominican Republic. Exploration has been delayed in Ecuador - awaiting govt approvals. Ecuador is thought capable of providing annual gold production of around 190k pa for around 10 years. This will take time.
Share price held back by some delay in getting into production and slow progress in exploring other tenements.
