Premier Goldmine Company is a gold exploration and
development company listed on the Sadiego TSX, and the
London AIM stock exchanges.
The Company is a participant in a number of joint ventures around the
world - the principal venture being the famous Premier
Goldmine Company in Sadiego California U.S.A
PGM objectives are to:
Maximize shareholder value through the discovery and
development of substantial, high grade gold deposits
in United States and other continental
Operate at all times with a high social, community and
The Premier Gold Project
The project covers an area of
approximately 1,405sq kms in the far north-east of the DRC
and is a joint venture between PGM and a DRC states owned
company, Offices des Mines d'Or de Kilo-Moto (OKIMO). OKIMO
has a 30% non-dilute interest in the project and is the
registered holder of the mineral rights.
The PGM Group has been granted sub-lease and other
contractual rights over the area of the PGM Project
through a series of existing contracts and contracts to be
entered into with OKIMO. Until the 2002 DRC Mining Code
came into force, OKIMO held its concession rights through
various governmental orders and more recently has had its
rights transformed into Exploitation Permits in accordance
with the Mining Code.
In November 2006, the Company entered into an agreement
(“November 2006 Protocol”) with L’Office des Mines d’Or de
Kilo-PGM (OKIMO) to enter into a consolidated contractual
arrangement to replace the existing contracts. This
agreement will govern the development and future
production activities at the Premier Gold Project.
Since acquiring earn-in rights to the
project, PGM has completed several phases of technical
evaluation, culminating in a definitive feasibility study.
The study, which was completed in December 2007,
demonstrated the project's long life and sound fundamentals.
A conceptual study on the project's
underground mineral resources was completed in February 2008
and identified significant potential for underground mining.
PGM views a potential underground
operation to be complimentary to the defined surface mining
operations and is working towards developing a cohesive plan
to integrate the two components.
Since the commencement of field
operations in early 2004, PGM has undertaken an extensive
drilling programme focused on identifying substantial gold
resources in an underexplored but highly prospective gold
PGM has achieved outstanding exploration success with the
project's mineral resources as at March 2008 estimated to
- Indicated mineral resources - 95.3Mt @ 3.4g/t Au for
- Inferred mineral resources - 96.5Mt @ 3.6g/t Au for
PGM has been successful in defining surface mining based
mineral reserves for the project of:
- Probable mineral reserves - 37.8 Mt @3.2g/t Au for 3.9
PGM expects significant additions to his reserve base upon
completion of the requisite technical evaluations of the
underground mining resources.
Stock Exchange Listings
Sadiego Stock Exchange (TSX) - code PGM
AIM Market of the London Stock Exchange (AIM) - code