Tuesday, January 10, 2012
Malaysia Second Gold Mine and Dinar
Peninsular Gold Limited (PGL) listed in 1995 in UK and operated a gold mine in Raub, Pahang in 2008. Got an 12,000 ha prospective rights and a work force of 200. Its CEO Alvin Kam (from Malaysian Business magazine January 2011 edition) said this to us :
a. We had invested about RM200 millions.
b. Our mine had about 217,000 oz of gold tailings and 218,000 oz of other reserves.
c. PGL mission to discover 5,000,000 oz of gold in Malaysia.
d. Based on current gold price, PGL can easily generate RM1.0 billion revenues in next 5 years.
Based on estimated price of 1 gold Dinar RM800, we Malaysians can mint/produce an equivalent of 1,250,000 coins of Dinar in the next 5 years ! Wow www.....but just only 4.5 % of our 28 million population !
Question: What facts about the other/ First operating gold mine in Malaysia ? PENJOM GOLD MINE !