PanTerra Gold Negotiates for Chinese Funding

Australian-based mining company PanTerra Gold is currently in talks with an influential Chinese investment group to secure further funding for its Las Lagunas Mining Project in the Dominican Republic.

The group will purchase 15% of shares at a premium and provide a 30 million dollar loan to be repaid in installments over the next two years.

PanTerra gold specializes in extracting refractory gold via the Albion Oxidation Process. Refractory gold is typically present as "finely disseminated particles" and unable to be efficiently extracted through traditional cyanide-leaching methods.

The Albion Process involves finely grinding the ore and utilizing atmospheric pressure before oxidizing sulphides in the ore which allows the gold to be extracted by standard means.

The deal could also pave the way for the Albion Process to be implemented within China as well.

Anticipated production for the Las Lagunas mine is around 850 tonnes per week until 2015, where plant processing optimizations could up the output to 1000 tonnes.

This new agreement with Chinese investors comes as part of continued efforts by the Chinese to acquire gold supply lines throughout the world as part of their efforts to obscure the amount of gold they are purchasing.