PZG - Paramount Gold Nevada wins up to $15M financing from Sprott

Paramount Gold Nevada ( NYSE: PZG ) said Tuesday it executed a non-binding term sheet with Sprott Resource and Streaming Royalty for a royalty convertible note providing $10M-$15M in proceeds .

The miner said the proceeds will be used to fund continued permitting of the proposed Grassy Mountain Gold Mine in Oregon, for general corporate purposes and for the repayment of outstanding convertible notes maturing in September.

If the proposed financing is closed, the funds would be available once Paramount ( PZG ) receives a notice to proceed with the development of the project from Oregon state permitting agencies.

Projected margins at Paramount Gold's ( PZG ) Grassy Mountain are well above peer averages, Taylor Dart writes in an analysis published last year on Seeking Alpha .

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