LAS VEGAS, NV -- 11/09/09 --
Placer Gold Corp. (PINKSHEETS: PGCR), the
"Company," is progressing its gold mine financing proposals for the
construction and operation of a number of placer gold mines with annual
planned production of up to 500,000 ounces per year.
The company's JV partners previously prepared and circulated
off-balance-sheet offerings to institutional investors for as much as $500
million in gold mine financing, which PGCR was unable to complete at the
lower gold price prevailing 6 months ago.
The JV previously proposed effectively forward selling up to 1,000,000
ounces of gold at $500 per ounce from a portion of future mine production
to fund new mine capital and start-up expenditures.
The financial market for gold mine financing is now strengthening
considerably. Sovereign funds and central banks such as India are now
clamoring to switch out of dollars and into bullion in a market
increasingly constrained by lack of mined bullion supply.
Institutional level bankers and Investors have recently asked the company
to re-submit the financing offerings with a view to their clients securing
future gold bullion deliveries at a significant discount, from the JV's
proposed slate of large-scale environmentally sound alluvial gold mines in
North and South America.
Mr. Sterling, CEO, commented, "Gold bullion and gold stocks are two proven
ways of protecting investors' money in times of stress. PGCR's proposed
bullion production share plans are looking increasingly attractive to
institutions as the US dollar continues to decline due to artificially low
interest rates and rampant new paper money creation."
The company is also securing strategic positions in new large-scale
renewable energy business opportunities.
http://www.placergoldcorp.com/
This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934 and the Private Securities Litigation Reform Act of
1995. Actual results may differ from management's expectations. These
forward-looking statements involve risks and uncertainties that include,
among others, risks associated with resource exploration risks related to
competition, management of growth, new products, services and technologies,
potential fluctuations in operating results, international expansion,
commercial agreements, acquisitions and strategic transactions, government
regulation and taxation. More information about factors that potentially
could affect PGCR's financial results is included in its filings with the
Securities and Exchange Commission.
Contact:
Peter Sterling
323-356-7777
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