$PZG : First Conditional Use Permit for an Underground Mine in Oregon History Granted to Paramount Gold

Long-Term Price Case$1,500/oz. Au & $20/oz. Ag
Flagship ProjectGrassy Mountain
Pipeline AssetSleeper
Flagship Project Resource Base (M&I)1,100,880 AuEq ozs.
Pipeline Asset Resource Base (M&I)3,529,667 AuEq ozs.
Consolidated Resources Base4,630,547 AuEq ozs.
Fully-Diluted Shares29,288,909 
Fully-Diluted Market Cap22,552,460
AISC (Grassy Mountain)$853/oz.
AISC (Sleeper)$869/oz.
Market Cap Valuation per Resource Ounce$4.87
Share Price Valuation by Resources in the Ground.16 ozs. ($213/sh.)
Resource Valuation as a Percentage of Market Cap.4%
Present Value of Resources at 10%$617,251,915
Future Cash Flow (PEA, Grassy Mountain)$30,840,049
Future Cash Flow (PEA, Sleeper)$63,941,623
Net Cash Flow (PEA, Grassy Mountain, LoM)$231,300,368
Net Cash Flow (PEA, Sleeper, LoM)$575,474,607
Future Market Cap Valuation$694,582,050
Future Market Cap Growth2,980%
PMCV10 (Projected Market Cap Valuation at 10%)$23.71/sh.
TAC10 (Total Acquisition Cost at 10%)$275,698,138 ($9.41/sh.)

Notes: All Values in U.S. Dollars. Paramount is a growth company in the making and will likely be awarded a rich premium on the back of timely execution, exemplary management, a robust asset pipeline in a friendly jurisdiction, and a high probability of discovery at Frost.

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