PAN GLOBAL GRADUATES TO THE OTCQB VENTURE MARKET IN THE UNITED STATES
VANCOUVER, BRITISH COLUMBIA – (March 15, 2023) – Pan Global Resources Inc. (“Pan Global” or the "Company") (TSX-V: PGZ; OTCQB: PGZFF) is pleased to announce that the Company has qualified for trading on the OTCQB Venture Market in the United States operated by the OTC Markets Group Inc. and the Company's common shares now trade on the OTCQB under the symbol "PGZFF”.
The Company's common shares will continue to trade on the TSX Venture Exchange (the "TSX-V") under the symbol "PGZ".
"As part of graduating from the OTC Pinks to OTCQB platform, we learned that Pan Global has a more significant following in the U.S. markets than we expected. The posting of our shares on the OTCQB allows greater access and visibility for the Company as we advance the Escacena Copper Project in southern Spain," said Tim Moody, President and CEO of Pan Global. "As we continue to expand our presence within the U.S. investment community, the trading of our shares on the OTCQB platform facilitates the expansion and growth of the Company."
"As part of graduating from the OTC Pinks to OTCQB platform, we learned that Pan Global has a more significant following in the U.S. markets than we expected. The posting of our shares on the OTCQB allows greater access and visibility for the Company as we advance the Escacena Copper Project in southern Spain," said Tim Moody, President and CEO of Pan Global. "As we continue to expand our presence within the U.S. investment community, the trading of our shares on the OTCQB platform facilitates the expansion and growth of the Company."
The 2023 Project plan includes more than 50 additional drill holes at Escacena. A 10-hole stepout and infill drill program is in progress at the La Romana discovery targeting electromagnetic anomalies, further testing the continuity and potential down-dip extensions of the mineralization. Drilling is also in progress at the Zarcita and Romana Deep targets at Escacena.
Catalysts for 2023 include:
• Assay results from the ongoing exploration drilling at La Romana, the Romana Deep target (electromagnetic anomaly on the down-dip projection of the La Romana mineralization) and Zarcita target (located 4 km north of La Romana)
• Gaining access to the west and east of La Romana to continue testing extensions of the near-surface mineralization and geophysics targets
• Results from ongoing La Romana metallurgy testwork
• Assay results from drilling on the extensions of La Romana following access
• Discovery of additional exploration targets from the ongoing exploration
About the Escacena Project
The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. The project is located near operating mines at Las Cruces and Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo Mexico is in the final permitting stage with construction anticipated to restart in 2023. The Escacena Project hosts the La Romana copper-tin discovery and a number of other prospective targets, including Zarcita, Hornitos, La Jarosa, Romana Deep, Bravo, Barbacena, El Pozo, and San Pablo.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in southern Spain and is pursuing opportunities from exploration through to mine development. The Company is committed to operating safely and with respect to the communities and environment where we operate.
On behalf of the Board of Directors
FOR FURTHER INFORMATION PLEASE CONTACT:
Jason Mercier, VP Investor Relations and Communications
jason@panglobalresources.com
+1 778 372-7101
www.panglobalresources.com
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Rio Tinto Sees Robust Short Term Outlook For Copper
Oyu Tolgoi mine. Image courtesy of Turquoise Hill Resources
The short-term outlook for copper is “pretty healthy,” with global stockpiles trending down and mine disruptions having eroded supply from Latin America, Rio Tinto’s head of copper Bold Baatar said on Tuesday.
“We’re seeing pretty good fundamentals,” he told Reuters after the opening of the underground phase of the Oyu Tolgoi copper mine in Mongolia, which is set to be the world’s fourth-largest copper mine when it is fully operational.
“Physical stocks of inventories of copper are at multi-year lows,” he said, adding that copper demand in China was “relatively strong.”
Global copper inventories held in warehouses monitored by the London Metal Exchange (LME) hit the lowest in 17 years last month as the global economy gathers steam post-covid 19, while Shanghai Futures Exchange stocks have turned down in recent weeks on seasonal demand pickup and as prices fell.
Benchmark copper on the LME traded down 0.6% at $8,876 a tonne on Tuesday, on a firm dollar, worries about the knock-on impact of a US banking crisis and as Chinese demand has not picked up as quickly as some had previously hoped.
[Click here for an interactive chart of copper prices]
But the contract has gained more than 5% year-to-date, and around a quarter from mid-July when it hit its weakest since late 2020.
“Overall, actually, there’s significant copper shortages in terms of the supply deficit that’s coming out of Latin America and the disruptions that are happening in countries like Peru.
“So at the moment, even in the short-term outlook, there’s a pretty healthy demand picture,” Baatar said.
Copper mines in Peru and Chile have been disrupted by protests that have blocked roads, impacting mine supplies getting in and concentrate shipments getting out.
Key copper mines in Peru, however, are cranking up activity again, power data analyzed by Reuters showed, potentially boosting supply from the world’s no. 2 producer.
(By B. Rentsendorj and Mai Nguyen; Editing by Sharon Singleton)
CEO Clips - Pan Global: A Vancouver-based Junior Mining Company with Experienced Leadership
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IWA has an ongoing consulting contract for investor relations with Pan Global Resources and is also a shareholder. Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company’s operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
