Para Resources Inc. is pleased to announce that underground mining has commenced at the Company's Gold Road Mine in Oatman, Arizona. The initial plant production target is 250 TPD, ramping up to full capacity of 500 TPD in Q2 2019. Mineralized rock is being stockpiled on the patio at the mill site. The mill will begin operations by the middle of [...]
Para Resources Inc. is pleased to announce that effective January 1, 2019, it has entered into a Final Services Agreement with Clark Construction Group, LLC , a Maryland, limited liability company whereby Clark will provide contract mining services at the Company-owned, Gold Road Mine in Oatman, AZ. The contract transitions from the original "time [...]
Para Resources Inc. is pleased to announce that all matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated November 6, 2018, were approved by the requisite majority of votes with 69.7% of eligible votes cast at the Company's Annual General and Special Meeting held on [...]
Para Resources Inc. is pleased to announce that effective November 7th 2018, it has entered into a Services Agreement with Clark Construction Group, LLC , a Maryland, limited liability company which will provide contract mining services at the Company owned, Gold Road Mine in Oatman, AZ. The contract is initially on a "time and materials" basis but [...]
Para Resources Inc. is pleased to provide the following updates to the current operations: Gold Road Mine, Oatman Arizona Para is in final negotiations with a world-class underground mining contractor for the operation of the Gold Road mine. Mobilization will begin in November with the first crews beginning works by mid-November. Work is ongoing to [...]
This document corrects and replaces the press release that was issued by Para Resources Inc. , today, September 6, 2018 at 6:15AM EST. The error occurred in the 7th bullet point under the Gold Road Mine, Oatman Arizona sub-header, where it should have read "Q4 2018" instead of "Q4 2019". Para Resources Inc. is pleased to provide the following [...]
Para Resources Inc. is pleased to provide the following updates to the current operations: El Limon Mine, Zaragoza, Colombia The rehabilitation and construction of the upgraded El Limon Mill was completed in March 2018 The commissioning of the mill has now been completed with maximum throughput at 240 TPD and recoveries at 87.5% The installation is [...]
Para Resources Inc. is pleased to announce that it, along with its subsidiaries, Z79 Gold Corp. and Gold Road Mining Corp. has entered into a pre-paid forward gold purchase agreement dated August 3, 2018 , with PPG Arizona Holdings LP, an entity affiliated with Pandion Mine Finance LP . The letter of intent preceding the PPG Agreement was [...]
Para Resources Inc. is pleased to announce that it has signed a non-binding Letter of Intent with Pandion Mine Finance, LP for a financing of US $16.6 million via a Prepaid Forward Gold Purchase Agreement . This Letter of Intent sets out indicative terms on which Pandion or any of its designated affiliates proposes, subject to certain terms and [...]
Para Resources is pleased to announce that it has signed a Term Sheet with Conex Services and Conterra Construction, both controlled by an Insider of the Company, whereby all outstanding loans and accrued interest, previously made to Para and to its subsidiary Gold Road Mining, are being re-structured into a five-year Convertible, Subordinated [...]
Para Resources is pleased to announce that it has closed the Private Placement announced on May 24, 2018 in a third tranche of $315,000 or 1,575,000 units. Under all three tranches, the Company has issued 18,649,000 Common Shares and 18,649,000 share purchase warrants . Each Warrant entitles the holder to acquire one common share of the Company for [...]
Para Resources is pleased to announce that it has closed $605,000 in the second tranche of the previously announced Private Placement of Units. The Company has issued 3,025,000 Common Shares and 3,025,000 share purchase warrants. This brings the total raised in the first two tranches of this Private Placement to 17,074,000 Shares and 17,074,000 [...]