News

July 02, 2008

Patagonia Gold Shifts Gears On Its Argentinian Gold Properties

By Rob Davies

Ever since Argentine-focussed Patagonia Gold found its projects in Chubut province effectively closed down by the regional government it has been struggling to re-invent itself. The company has interests in 45 properties in Chubut, so it’s been quite a trial, but now it seems there’s a good chance that the market will begin to start giving Patagonia some credit for what it has been achieving elsewhere in Argentina. Managing director Bill Humphries was on a plane heading out to South America when Minews called for an update, but non-executive director Richard Prickett was able to provide a good overview of the current situation.

Mr Prickett knows a thing or two about gold mining, having turned a nice profit on Brancote back in the days before this current boom really took off. He’s fairly hands on at Patagonia for a non-exec, and was present to provide full support to Bill Humphries when Patagonia presented at one of Minesite’s forums in the spring.

The story now essentially consists of the drive to take the company’s Lomada de Leiva property in Santa Cruz province into production in short order to generate cash flow...