PanTerra Gold (ASX: PGI), formally known as EnviroGold, is a near term gold producer at its Las Lagunas project in the Dominican Republic with construction scheduled for completion in December 2011. The project has an expected life of seven years at an annual production rate of 65,000 ounces of gold and 600,000 ounces of silver.
PanTerra Gold is also active in Ecuador with the advanced Azuay Gold Mining project and the San Gerardo Gold Mining prospect. At the Azuay project, construction is targeted to commence in mid 2012.
Macquarie Bank participates in EnviroGold capital raising
Macquarie Bank Ltd has increased its shareholding by 10 million shares in budding gold producer EnviroGold (ASX: EVG) via a placement. In addition, an existing shareholder will acquire 2.5 million shares in the placement by Envirogold at 8 cents each, which together will raise $1.0 million.
The funds raised, together with the $1.5 million raised from a placement at the same price to Indonesian mining group, PT Asia Pacific Mineral Resources, will be used to maintain construction momentum at the Las Lagunas gold project in the Dominican Republic, until funds can be accessed from Macquarie Bank’s loan facilities.
Recently, loan facility documents for the Las Lagunas Gold Project in the Dominican Republic were finalised and signed by both Macquarie Bank Limited and the EnviroGold Group.








