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PanTerra Gold Chairman Increases Indirect Stake Through On-Market Trade

PanTerra Gold (ASX:PGI) executive chairman Brian Johnson continues to back the company, increasing his indirect interest by 5 million shares through an on-market trade.

Indirect interests of Johnson acquired the shares for a total of $75,000, or $0.015 each. This brings his indirect interest up to 47.1 million shares.

In November, Johnson snapped up 600,000 shares.

PanTerra is planning a number of measures to better advance the pre-development stage a project aimed at extending the life of its Las Lagunas project in the Dominican Republic.

These include a 10 to 1 share consolidation, a capital raising of up to A$10 million and refinancing its loans.

The company has also been invited by a major Chinese gold mining company to put forward a formal proposal for them to acquire a controlling interest in the Las Lagunas project and any mine developments that will be necessary to extend the project life.

The Chinese group have expressed interest in the application of the Albion oxidation process to mid-sized refractory deposits they hold in China.

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