PMI GOLD CORPORATION - MANAGEMENT DISCUSSION & ANALYSIS
KEY HIGHLIGHTS
The Company:
- Completed its Pre-feasibility study on the Obotan project in December of 2011 and released the results on January 12, 2012.
- Completed a new NI43-101 report
- Strengthened its resources in Ghana
Long-term goals for the Company include:
- Growing and strengthening core operations in gold exploration and development;
- Finding, acquiring and developing profitable revenue producing assets;
- Growing market capitalization.
Exploration
Exploration continued on the Company’s concessions, with $10.2 million and $16.9 million being invested during the three and six month periods ending December 31, 2011 to advance exploration and development of the Obotan, Kubi and regional exploration projects.
Obotan Gold Project (Nkran, Adubiaso, Abore, Asuadai Deposits) - Resource Estimate Upgrade
On 13 October 2011, the Company announced a significant increase in the NI43-101 and JORC code compliant gold resources at the Obotan Gold Project to Measured 1.22 million ounces, Indicated 2.00 million ounces and Inferred 1.29 million ounces. The NI43-101 resource estimate report was subsequently filed on SEDAR on 28 November 2011.
The resource estimate was undertaken by SRK Consulting of Perth, Australia and forms part of the Pre-Feasibility Study. SRK’s resource estimate was independently reviewed by Optiro Pty Ltd, as part of PMI’s technical quality assessment and control, with Optiro confirming results were consistent and acceptable for the style of the deposit.
For further information, please read the attached report by PMI Gold Corporation.