International market developments trigger increased investor interest in Guyana

RECENT international market developments in Platinum Group Minerals (PGMs) have increased investor exploration interest in Guyana.

Platinum was being sold on the international market yesterday at US$1,436 per troy ounce or US$96 more than gold.
Last week, Ensurge Inc., a United States (U.S.) based company that is engaged in the exploring and developing of precious metal mining opportunities in Guyana, announced that it had commenced    discussions with another U.S. company, Mojave Gold Corporation (MGC) on participating in the quest for PGMs in Guyana.
PGMs is the term used to collectively refer to six metallic elements, namely ruthenium, rhodium, palladium, osmium, iridium and platinum, which all
have similar physical and chemical properties and tend to occur together in the same mineral deposits.
Knowledgeable sources have described platinum as a grayish white mineral, exhibiting a metallic colour between nickel and silver and the “most precious” metal or the “rarest of the precious metals, rarer than even gold.”
On average it exists on the earth’s crust at about 5/1000 gramme per metric ton and has unique properties that make it especially useful in industry.
It is used in the production of fibreglass, medicines, chemicals, computers, lasers, petroleum products (gasolene), fibre optic cables, crude oil refining, fertilisers, synthetic fibres, glass, paints, wires, plating and explosives.
It is also utilised as an exhaust catalyst to convert dangerous emissions to safe non-toxic substances and it has been reported that automotive demand for platinum consumes about a third of its production.

CRITICAL INPUT
Because it is such a critical input for many industries (and is rare) the United States (U.S.) Government has labelled platinum a “strategic metal.”
MGC disclosed, recently, that it has been exploring for platinum in Guyana along with GlobalMin LLC, another American based company, for the past three years through a Permission for Geological and Geophysical Survey (PGGS) issued by Prime Minister Samuel Hinds, covering an area of 4.4 million acres.
The permit, granting GlobalMin Guyana Inc., a subsidiary of GlobalMin LLC, exclusive control of the approximately 4.4 million acres for exploration of PGMs, was secured in March 2011.
The PGGS also allows for subsequent licence upgrades, including PGM mining rights exclusively, within the negotiated area.
Ensurge Inc said the PGGS is now being converted into exclusive prospecting licences.
GlobalMin LLC had been conducting  substantial field work  and analytical testing in Guyana, discovering and documenting a significant presence of alluvial PGMs and targeting areas for continued exploration and analysis, since 2002.
Ensurge Inc has, previously, worked with MGC in exploring the alluvial presence and recovery of PGMs at a test site on the Mazaruni River.
With respect to the ongoing discussions, President and Chief Executive Officer (CEO) of MGC, Steve Heard, stated: “In our work to identify PGM deposits, we have conducted substantial soil and rock sampling, biochem and geochem analysis, and gathered ground and aerial magnetic data. This valuable cross-confirming information allows us to choose drill sites for locating PGMs in bedrock.
“Having already established relations through the prior joint test facility with Ensurge, now is an excellent time for the companies to explore a new relationship that allows the latter to take an equity position in MGC.”
Ensurge Chief Financial Officer (CFO) Jeff Hanks, stated: “Our relationship with MGC started in early 2012 and this is an exciting opportunity for our work in Guyana to go to an entirely new level. We think having an opportunity to work with MGC in developing PGMs is a positive move for the Company.”
Ensurge subsidiary, TransGlobal Gold Corp is currently operating several dredges on the Mazaruni River.

(By Clifford Stanley)