Paramount Gold is a U.S. domiciled exploration and development company with two advanced stage projects in Nevada [Sleeper] and northern Mexico [San Miguel]. Fully funded programs are now in progress at our two main projects which are expected to generate substantial additions to resources. Engineering studies have been completed, which define a development path and economic valuation for each project.
Our philosophy at Paramount is to maximize shareholder value and reduce risk by focusing our efforts on the gap between discovery and production. Prior to confirming a major discovery, exploration companies are highly risky investments which are difficult to value. At the other end of the spectrum, smaller companies attempting to become stand-alone producers are rarely successful due to the added technical and financial risks involved in building and operating mines. The `sweet spot` for creating shareholder value in the gold mining business is between discovery and production…growing existing resources, designing economic operations and joint-venturing them with established producers. That's the Paramount formula and you can see it at work on our Sleeper and San Miguel projects where, in the shadow of successful producers, discoveries have been made and resources are growing rapidly.