Company Announcement: PanTerra Gold Advises No Impact On Cash Flow From Falling Gold Prices
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PanTerra Gold Limited, advises that the recent fall in gold prices will not impact on forecasts for its Las Lagunas project in the Dominican Republic which were set out in the Company’s ASX release on 8 April 2013. Anticipated monthly incomes of US$3.5 million to US$4.0 million in April 2013 rising to US$7.0 million to US$8.0 million in Q3 2013 are based on selling all gold production into the Company’s hedge book at US$1320 per oz. Forecast bullion sales for this month are on track to meet the higher end of the range. All inclusive PanTerra Gold Group costs should continue at US$2.5 million per month. The NPV of the project to the Company of US$173 million will only be affected if the average selling price for gold over the six year project life is lower than US$1400 per oz.
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