Golden Predator Corp Finding Upside Support After Pan Project
Golden Predator Corp. (GPD.TO) is ahead a penny, rising 1.5% to 69 cents a share after Midway Gold Corp. (MDW.V), its operating partner in the Pan Project in Nevada recently had announced 'robust economics' along with proven and probable reserves totalling 864,000 ounces of gold.
The mine plan used by Midway is based on producing 17,000 short tons of ore per day over an 8-year period and assumes 75% recoveries, with production exceeding 81,000 ounces z gold per year annum. For Golden Predator, which owns 4% gross production royalty for the Pan project, that works out to about $5.2 million based on $1,600 for each ounce of gold in gross proceeds.
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