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News Article | May 19, 2017
Site: www.forbes.com

Last week, the oil and gas lobby suffered a major and unexpected loss, when the Republican controlled Congress refused to eliminate the Bureau of Land Management’s (BLM) natural gas waste rule. While API has since requested a two-year stay in compliance, they should instead pause, learn the lessons presented by the CRA, and move forward according to the wishes of the American public. Here are three lessons industry should learn. In the early days of the Trump Administration, its anti-climate, anti-environment agenda came into sharp focus. This looked like a golden opportunity to roll back environmental safeguards, including the BLM protections, which minimize the unnecessary flaring, venting, and leaking of natural gas on federal and tribal lands. With President Trump still in the early days of his victory, and single party control of both Houses of Congress, some saw a political opening, or even a voter mandate to weaken environmental protections. But what they saw was a mirage: Absolutely no one voted for more pollution. The oil and gas industry misread the mood of the American public when it comes to public health, environment, and waste of our nation's valuable energy resources. American voters from all over the country expressed their deep opposition to this rollback. National polling showed over 70% of voters wanted to keep the BLM rule. From ranchers to institutional investors, and tribal leaders to a broad swath of environmental and health activists, Americans stood up and spoke out. Industry and Congress expected to win easily, but they didn’t have their finger on the pulse of a country whose citizens refuse to choose between energy they can reasonably afford and air they can safely breathe; economic opportunity they can believe in, and a climate that will be hospitable in the years to come. Industry tends to either view rules as a cost or as an investment. Unfortunately, those that saw the BLM rule as a cost had the loudest voices within industry, and that paved the way for overreach. It’s time for industry to listen to its leaders who fall in the second camp. Yes, rules are not costless. Yes, companies will need to expend modest resources on implementing best practices, reporting, and other compliance activities.


WINNEMUCCA, Nev., May 17, 2017 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE MKT:PZG) ("Paramount”) announced today that ongoing drilling at its Grassy Mountain Gold Project in Eastern Oregon continues to intersect the underground core of the deposit with high gold grades. Results from four new holes verify the high-grade gold material for the proposed underground mine plan with expected variability. The current 30-hole drill program is part of a Preliminary Feasibility Study (“PFS”) which Paramount is undertaking for construction and operation of an underground mine to exploit the high-grade gold core at Grassy Mountain. The PFS is expected to: convert, a significant portion of the measured plus indicated resources to proven and probable reserves; establish the parameters of a mining and milling operation; define capital and operating costs; and advance the project through permitting process with the Bureau of Land Management (“BLM”), Oregon Department of Geology and Mineral Industries (“DOGAMI”) and local agencies of Malheur County. The drilling is designed to: improve the confidence level of the resource; better define the high-grade core; and acquire material for additional metallurgical testing and geotechnical data required to determine precious metal recovery processes and mining method. The PFS is scheduled for completion in early 2018. The four holes reported today were drilled within a 400ft. by 200 ft. area located on the south western edge of the high-grade core zone (see map below). GM17-10 successfully intersected the high-grade zone, confirming its continuity and extending it to the south west. GM17-10 returned 38.7 meters grading 10.3 g/T of Au and 6.6 g/T of Ag. GM16-06 intersected 29 meters grading 3.37 g/T of Au, helping to define the outer edge of the high-grade zone and improving our understanding of the controls on gold deposition. Drill holes GM17-07 and GM16-09 intersected 144 meters grading 1.25 g/T of Au (including 19.7 meters grading 2.31 g/T of Au) and 160 meters grading 1.28 g/T of Au (including 14.3 meters grading 3.14 g/T of Au) respectively (see all previously reported Grassy Mountain results). Drilling was completed using a reverse circulation (“RC”) rig for the upper portion of the deposit and a core rig for the high-grade portion which will be incorporated into an underground mine plan. The table immediately below provides detailed objectives and observations for each drill hole. The second table below summarizes assay results for key intercepts. *Intercepts are calculated using uncapped Au assays. Intercepts are believed to be approximate true width of mineralization except for some small very high grade intercepts that show a lower angle to the core. Paramount CEO, Glen Van Treek commented: “Drilling continues to confirm the high-grade core of the deposit and a large surrounding envelope of lower grade mineralization, some of which could ultimately be included in the mine plan. Once the drilling is completed, we will commence the resource definition and underground mine design. Depending upon the economics of mining and processing, we believe that the results of current drilling will convert significant resources to reserves. The PFS will evaluate several processing outputs, ensuring we select the most economically viable alternative.” Results from nine holes have now been released. A total of 30 holes are planned in the current program. Resource and metallurgical drilling is expected to be completed in June. To date, the upper portion of 25 holes have been drilled using RC drill rigs with five more RC holes remaining to be drilled. Of the 25 RC holes, 22 have been completed with the deeper core drilling, leaving eight more core drill holes to be completed. Core samples from five holes are in the ALS Laboratories in Reno, Nevada for assaying. A photo of the map accompanying this release is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/eb04f5c3-78e6-4821-a103-c33be6a4a643 Prefeasibility work is continuing on all aspects of the project. Recently, Paramount presented to the DOGAMI additional information outlining modifications to the mine access road and the additional areas required for mine facilities. To support access road design, and additional base line data collection, Paramount’s consultant, TCI Corp, recently completed a drone survey, taking over 14,000 high resolution pictures that are now being processed. Piezometer installation on selected drill holes has been initiated to define water dynamics and prepare a hydrological model. Paramount expects to submit a final Plan of Operation to the BLM in the third quarter which will trigger the initiation of the Environmental Impact Statement (EIS) by BLM and its selected consulting firm. Exploration activities at Grassy Mountain are being conducted by Calico Resources USA Corp. (a 100% owned subsidiary of Paramount Gold Nevada Corp.) personnel under the supervision of Michael McGinnis, Project Manager and a Qualified Person under National Instrument 43-101, who has reviewed and approved this release. An ongoing quality control/quality assurance protocol is being employed for the program including blank, duplicate and reference standards in every batch of assays. Paramount Gold Nevada is a U.S. based precious metals exploration company. Paramount has a high ratio of ounces of gold in mineral inventory to shares outstanding, providing its shareholders with exceptional leverage to the gold price. For our mineral inventory, click here. Paramount holds a 100% working interest in the Grassy Mountain Gold Project which consists of approximately 9,300 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain project contains a gold-silver deposit (100% located on private land) for which a Preliminary Economic Assessment (“PEA”) has been prepared and key permitting milestones accomplished. For the PEA, click here. Additionally, Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares). Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering into joint ventures with producers for construction and operation; or constructing and operating mines for its own account. Cautionary Note to U.S. Investors Concerning Estimates of Indicated and Inferred Resources This news release uses the terms "measured and indicated resources" and "inferred resources". We advise U.S. investors that while these terms are defined in, and permitted by, Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and not normally permitted to be used in reports and registration statements filed with the SEC.  "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases.  The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves", as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable. This release and related documents may include "forward-looking statements" and “forward-looking information” (collectively, “forward-looking statements”) pursuant to applicable United States and Canadian securities laws. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the completion of a PFS; the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in PEAs; Paramount’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with current expectations; work meeting expectations and being consistent with estimates and plant, equipment and processes operating as anticipated. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results, environmental matters, lack of ability to obtain required permitting, equipment breakdown or disruptions, and the other factors described in Paramount’s disclosures as filed with the SEC and the Ontario Securities Commission. Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.


WINNEMUCCA, Nev., May 17, 2017 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE MKT:PZG) ("Paramount”) announced today that ongoing drilling at its Grassy Mountain Gold Project in Eastern Oregon continues to intersect the underground core of the deposit with high gold grades. Results from four new holes verify the high-grade gold material for the proposed underground mine plan with expected variability. The current 30-hole drill program is part of a Preliminary Feasibility Study (“PFS”) which Paramount is undertaking for construction and operation of an underground mine to exploit the high-grade gold core at Grassy Mountain. The PFS is expected to: convert, a significant portion of the measured plus indicated resources to proven and probable reserves; establish the parameters of a mining and milling operation; define capital and operating costs; and advance the project through permitting process with the Bureau of Land Management (“BLM”), Oregon Department of Geology and Mineral Industries (“DOGAMI”) and local agencies of Malheur County. The drilling is designed to: improve the confidence level of the resource; better define the high-grade core; and acquire material for additional metallurgical testing and geotechnical data required to determine precious metal recovery processes and mining method. The PFS is scheduled for completion in early 2018. The four holes reported today were drilled within a 400ft. by 200 ft. area located on the south western edge of the high-grade core zone (see map below). GM17-10 successfully intersected the high-grade zone, confirming its continuity and extending it to the south west. GM17-10 returned 38.7 meters grading 10.3 g/T of Au and 6.6 g/T of Ag. GM16-06 intersected 29 meters grading 3.37 g/T of Au, helping to define the outer edge of the high-grade zone and improving our understanding of the controls on gold deposition. Drill holes GM17-07 and GM16-09 intersected 144 meters grading 1.25 g/T of Au (including 19.7 meters grading 2.31 g/T of Au) and 160 meters grading 1.28 g/T of Au (including 14.3 meters grading 3.14 g/T of Au) respectively (see all previously reported Grassy Mountain results). Drilling was completed using a reverse circulation (“RC”) rig for the upper portion of the deposit and a core rig for the high-grade portion which will be incorporated into an underground mine plan. The table immediately below provides detailed objectives and observations for each drill hole. The second table below summarizes assay results for key intercepts. *Intercepts are calculated using uncapped Au assays. Intercepts are believed to be approximate true width of mineralization except for some small very high grade intercepts that show a lower angle to the core. Paramount CEO, Glen Van Treek commented: “Drilling continues to confirm the high-grade core of the deposit and a large surrounding envelope of lower grade mineralization, some of which could ultimately be included in the mine plan. Once the drilling is completed, we will commence the resource definition and underground mine design. Depending upon the economics of mining and processing, we believe that the results of current drilling will convert significant resources to reserves. The PFS will evaluate several processing outputs, ensuring we select the most economically viable alternative.” Results from nine holes have now been released. A total of 30 holes are planned in the current program. Resource and metallurgical drilling is expected to be completed in June. To date, the upper portion of 25 holes have been drilled using RC drill rigs with five more RC holes remaining to be drilled. Of the 25 RC holes, 22 have been completed with the deeper core drilling, leaving eight more core drill holes to be completed. Core samples from five holes are in the ALS Laboratories in Reno, Nevada for assaying. A photo of the map accompanying this release is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/eb04f5c3-78e6-4821-a103-c33be6a4a643 Prefeasibility work is continuing on all aspects of the project. Recently, Paramount presented to the DOGAMI additional information outlining modifications to the mine access road and the additional areas required for mine facilities. To support access road design, and additional base line data collection, Paramount’s consultant, TCI Corp, recently completed a drone survey, taking over 14,000 high resolution pictures that are now being processed. Piezometer installation on selected drill holes has been initiated to define water dynamics and prepare a hydrological model. Paramount expects to submit a final Plan of Operation to the BLM in the third quarter which will trigger the initiation of the Environmental Impact Statement (EIS) by BLM and its selected consulting firm. Exploration activities at Grassy Mountain are being conducted by Calico Resources USA Corp. (a 100% owned subsidiary of Paramount Gold Nevada Corp.) personnel under the supervision of Michael McGinnis, Project Manager and a Qualified Person under National Instrument 43-101, who has reviewed and approved this release. An ongoing quality control/quality assurance protocol is being employed for the program including blank, duplicate and reference standards in every batch of assays. Paramount Gold Nevada is a U.S. based precious metals exploration company. Paramount has a high ratio of ounces of gold in mineral inventory to shares outstanding, providing its shareholders with exceptional leverage to the gold price. For our mineral inventory, click here. Paramount holds a 100% working interest in the Grassy Mountain Gold Project which consists of approximately 9,300 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain project contains a gold-silver deposit (100% located on private land) for which a Preliminary Economic Assessment (“PEA”) has been prepared and key permitting milestones accomplished. For the PEA, click here. Additionally, Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares). Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering into joint ventures with producers for construction and operation; or constructing and operating mines for its own account. Cautionary Note to U.S. Investors Concerning Estimates of Indicated and Inferred Resources This news release uses the terms "measured and indicated resources" and "inferred resources". We advise U.S. investors that while these terms are defined in, and permitted by, Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and not normally permitted to be used in reports and registration statements filed with the SEC.  "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases.  The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves", as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable. This release and related documents may include "forward-looking statements" and “forward-looking information” (collectively, “forward-looking statements”) pursuant to applicable United States and Canadian securities laws. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the completion of a PFS; the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in PEAs; Paramount’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with current expectations; work meeting expectations and being consistent with estimates and plant, equipment and processes operating as anticipated. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results, environmental matters, lack of ability to obtain required permitting, equipment breakdown or disruptions, and the other factors described in Paramount’s disclosures as filed with the SEC and the Ontario Securities Commission. Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.


WINNEMUCCA, Nev., May 17, 2017 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE MKT:PZG) ("Paramount”) announced today that ongoing drilling at its Grassy Mountain Gold Project in Eastern Oregon continues to intersect the underground core of the deposit with high gold grades. Results from four new holes verify the high-grade gold material for the proposed underground mine plan with expected variability. The current 30-hole drill program is part of a Preliminary Feasibility Study (“PFS”) which Paramount is undertaking for construction and operation of an underground mine to exploit the high-grade gold core at Grassy Mountain. The PFS is expected to: convert, a significant portion of the measured plus indicated resources to proven and probable reserves; establish the parameters of a mining and milling operation; define capital and operating costs; and advance the project through permitting process with the Bureau of Land Management (“BLM”), Oregon Department of Geology and Mineral Industries (“DOGAMI”) and local agencies of Malheur County. The drilling is designed to: improve the confidence level of the resource; better define the high-grade core; and acquire material for additional metallurgical testing and geotechnical data required to determine precious metal recovery processes and mining method. The PFS is scheduled for completion in early 2018. The four holes reported today were drilled within a 400ft. by 200 ft. area located on the south western edge of the high-grade core zone (see map below). GM17-10 successfully intersected the high-grade zone, confirming its continuity and extending it to the south west. GM17-10 returned 38.7 meters grading 10.3 g/T of Au and 6.6 g/T of Ag. GM16-06 intersected 29 meters grading 3.37 g/T of Au, helping to define the outer edge of the high-grade zone and improving our understanding of the controls on gold deposition. Drill holes GM17-07 and GM16-09 intersected 144 meters grading 1.25 g/T of Au (including 19.7 meters grading 2.31 g/T of Au) and 160 meters grading 1.28 g/T of Au (including 14.3 meters grading 3.14 g/T of Au) respectively (see all previously reported Grassy Mountain results). Drilling was completed using a reverse circulation (“RC”) rig for the upper portion of the deposit and a core rig for the high-grade portion which will be incorporated into an underground mine plan. The table immediately below provides detailed objectives and observations for each drill hole. The second table below summarizes assay results for key intercepts. *Intercepts are calculated using uncapped Au assays. Intercepts are believed to be approximate true width of mineralization except for some small very high grade intercepts that show a lower angle to the core. Paramount CEO, Glen Van Treek commented: “Drilling continues to confirm the high-grade core of the deposit and a large surrounding envelope of lower grade mineralization, some of which could ultimately be included in the mine plan. Once the drilling is completed, we will commence the resource definition and underground mine design. Depending upon the economics of mining and processing, we believe that the results of current drilling will convert significant resources to reserves. The PFS will evaluate several processing outputs, ensuring we select the most economically viable alternative.” Results from nine holes have now been released. A total of 30 holes are planned in the current program. Resource and metallurgical drilling is expected to be completed in June. To date, the upper portion of 25 holes have been drilled using RC drill rigs with five more RC holes remaining to be drilled. Of the 25 RC holes, 22 have been completed with the deeper core drilling, leaving eight more core drill holes to be completed. Core samples from five holes are in the ALS Laboratories in Reno, Nevada for assaying. A photo of the map accompanying this release is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/eb04f5c3-78e6-4821-a103-c33be6a4a643 Prefeasibility work is continuing on all aspects of the project. Recently, Paramount presented to the DOGAMI additional information outlining modifications to the mine access road and the additional areas required for mine facilities. To support access road design, and additional base line data collection, Paramount’s consultant, TCI Corp, recently completed a drone survey, taking over 14,000 high resolution pictures that are now being processed. Piezometer installation on selected drill holes has been initiated to define water dynamics and prepare a hydrological model. Paramount expects to submit a final Plan of Operation to the BLM in the third quarter which will trigger the initiation of the Environmental Impact Statement (EIS) by BLM and its selected consulting firm. Exploration activities at Grassy Mountain are being conducted by Calico Resources USA Corp. (a 100% owned subsidiary of Paramount Gold Nevada Corp.) personnel under the supervision of Michael McGinnis, Project Manager and a Qualified Person under National Instrument 43-101, who has reviewed and approved this release. An ongoing quality control/quality assurance protocol is being employed for the program including blank, duplicate and reference standards in every batch of assays. Paramount Gold Nevada is a U.S. based precious metals exploration company. Paramount has a high ratio of ounces of gold in mineral inventory to shares outstanding, providing its shareholders with exceptional leverage to the gold price. For our mineral inventory, click here. Paramount holds a 100% working interest in the Grassy Mountain Gold Project which consists of approximately 9,300 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain project contains a gold-silver deposit (100% located on private land) for which a Preliminary Economic Assessment (“PEA”) has been prepared and key permitting milestones accomplished. For the PEA, click here. Additionally, Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares). Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering into joint ventures with producers for construction and operation; or constructing and operating mines for its own account. Cautionary Note to U.S. Investors Concerning Estimates of Indicated and Inferred Resources This news release uses the terms "measured and indicated resources" and "inferred resources". We advise U.S. investors that while these terms are defined in, and permitted by, Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and not normally permitted to be used in reports and registration statements filed with the SEC.  "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases.  The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves", as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable. This release and related documents may include "forward-looking statements" and “forward-looking information” (collectively, “forward-looking statements”) pursuant to applicable United States and Canadian securities laws. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the completion of a PFS; the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in PEAs; Paramount’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with current expectations; work meeting expectations and being consistent with estimates and plant, equipment and processes operating as anticipated. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results, environmental matters, lack of ability to obtain required permitting, equipment breakdown or disruptions, and the other factors described in Paramount’s disclosures as filed with the SEC and the Ontario Securities Commission. Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.


News Article | May 25, 2017
Site: hosted2.ap.org

Wild horses could be sold for slaughter in Trump budget plan (AP) — President Donald Trump's budget proposal calls for saving $10 million next year by selling wild horses captured throughout the U.S. West without the requirement that buyers guarantee the animals won't be resold for slaughter. Wild-horse advocates say the change would gut nearly a half-century of protection for an icon of the American West and could send thousands of free-roaming mustangs to foreign slaughterhouses for processing as food. They say the Trump administration is kowtowing to livestock interests who don't want the region's estimated 59,000 mustangs competing for precious forage across more than 40,000 square miles (103,600 square kilometers) of rangeland in 10 states managed by the U.S. Bureau of Land Management. The budget proposal marks the latest skirmish in the decades-old controversy pitting ranchers and rural communities against groups that want to protect the horses from Colorado to California. "This is simply a way to placate a very well-funded and vocal livestock lobby," Laura Leigh, president of the nonprofit protection group Wild Horse Education, said about the plan. The National Cattlemen's Beef Association and other interests have been urging the BLM for years to allow sales of wild horses for slaughter to free up room in overcrowded government corrals for the capture of more animals. Doug Busselman, executive vice president of the Nevada Farm Bureau, blamed the stalemate on the "emotional and anti-management interests who have built their business models on preventing rational and responsible actions while enhancing their fundraising through misinformation." Presidents George W. Bush, Bill Clinton and Barack Obama also grappled with the spiraling costs of managing the nearly 60,000 horses on the range and 45,000 others in U.S. holding pens and contracted private pastures. Over the past eight years, the BLM's wild-horse budget has more than doubled — from $36.2 million in 2008 to $80.4 million in 2017. Trump's proposal anticipates the $10 million savings would come through a reduction in the cost of containing and feeding the animals. The savings also would include cutbacks involving roundups and contraception programs. The 1971 Wild Free-Roaming Horse and Burro Act allows older, unadoptable animals to be sold. But for years, Congress has approved budget language specifically outlawing the sale of any wild horses for slaughter. Horse slaughterhouses are prohibited in the U.S. but legal in many other countries, including Canada, Mexico and parts of Europe where horse meat is considered a delicacy. A year ago, then-BLM Director Neil Kornze said the horses represented a $1 billion budget problem for his agency because it costs $50 million to round up and house every 10,000 horses over their lifetime. Still, he said the agency had no intention of reversing the long-standing policy. The Trump administration wants a change, saying through the BLM that the "program is unsustainable and a new approach is needed, particularly when overall federal funding is so constrained." It says the budget would allow the agency to manage the wild-horse program in a more cost-effective manner, "including the ability to conduct sales without limitation." The BLM rounded up more than 7,000 horses in 2012, but only about 3,000 in each of the past two years due primarily to budget constraints. As of March, the BLM estimated that more than half the horses roaming the range — 34,780 — were in Nevada. An additional 13,191 burros were on the range — about half in Arizona. The BLM asserts that U.S. rangeland can sustain fewer than 27,000 horses and burros. "The original intent of the act was to make sure those animals had a healthy presence on the range, but also that they be kept at a number that is sustainable," said Ethan Lane, executive director of the National Cattlemen's public lands council. "You have horses starving to death ... and irreversible damage to Western rangelands." The American Society for the Prevention of Cruelty to Animals said Trump's budget proposal was shocking. "Wild horses can and should be humanely managed on-range using simple fertility control, yet the BLM would rather make these innocent animals pay for draconian budget cuts with their very lives," ASPCA President Matt Bershadker said. Suzanne Roy, executive director of the American Wild Horse Campaign, said the plan could put the horses on the brink of extinction. "America can't be great if these national symbols of freedom are destroyed," she said.


News Article | May 25, 2017
Site: news.yahoo.com

FILE - In this July 13, 2008 file photo a livestock helicopter pilot rounds up wild horses from the Fox & Lake Herd Management Area from the range in Washoe County, Nev., near the town on Empire, Nev. Wild horse advocates say President Trump's new budget proposal would undermine protection of an icon of the American West in place for nearly a half century and could send up sending thousands of free-roaming mustangs to slaughter houses in Canada and Mexico. (AP Photo/Brad Horn, File) PALOMINO VALLEY, Nev. (AP) — President Donald Trump's budget proposal calls for saving $10 million next year by selling wild horses captured throughout the U.S. West without the requirement that buyers guarantee the animals won't be resold for slaughter. Wild-horse advocates say the change would gut nearly a half-century of protection for an icon of the American West and could send thousands of free-roaming mustangs to foreign slaughterhouses for processing as food. They say the Trump administration is kowtowing to livestock interests who don't want the region's estimated 59,000 mustangs competing for precious forage across more than 40,000 square miles (103,600 square kilometers) of rangeland in 10 states managed by the U.S. Bureau of Land Management. The budget proposal marks the latest skirmish in the decades-old controversy pitting ranchers and rural communities against groups that want to protect the horses from Colorado to California. "This is simply a way to placate a very well-funded and vocal livestock lobby," Laura Leigh, president of the nonprofit protection group Wild Horse Education, said about the plan. The National Cattlemen's Beef Association and other interests have been urging the BLM for years to allow sales of wild horses for slaughter to free up room in overcrowded government corrals for the capture of more animals. Doug Busselman, executive vice president of the Nevada Farm Bureau, blamed the stalemate on the "emotional and anti-management interests who have built their business models on preventing rational and responsible actions while enhancing their fundraising through misinformation." Presidents George W. Bush, Bill Clinton and Barack Obama also grappled with the spiraling costs of managing the nearly 60,000 horses on the range and 45,000 others in U.S. holding pens and contracted private pastures. Over the past eight years, the BLM's wild-horse budget has more than doubled — from $36.2 million in 2008 to $80.4 million in 2017. Trump's proposal anticipates the $10 million savings would come through a reduction in the cost of containing and feeding the animals. The savings also would include cutbacks involving roundups and contraception programs. The 1971 Wild Free-Roaming Horse and Burro Act allows older, unadoptable animals to be sold. But for years, Congress has approved budget language specifically outlawing the sale of any wild horses for slaughter. Horse slaughterhouses are prohibited in the U.S. but legal in many other countries, including Canada, Mexico and parts of Europe where horse meat is considered a delicacy. A year ago, then-BLM Director Neil Kornze said the horses represented a $1 billion budget problem for his agency because it costs $50 million to round up and house every 10,000 horses over their lifetime. Still, he said the agency had no intention of reversing the long-standing policy. The Trump administration wants a change, saying through the BLM that the "program is unsustainable and a new approach is needed, particularly when overall federal funding is so constrained." It says the budget would allow the agency to manage the wild-horse program in a more cost-effective manner, "including the ability to conduct sales without limitation." The BLM rounded up more than 7,000 horses in 2012, but only about 3,000 in each of the past two years due primarily to budget constraints. As of March, the BLM estimated that more than half the horses roaming the range — 34,780 — were in Nevada. An additional 13,191 burros were on the range — about half in Arizona. The BLM asserts that U.S. rangeland can sustain fewer than 27,000 horses and burros. "The original intent of the act was to make sure those animals had a healthy presence on the range, but also that they be kept at a number that is sustainable," said Ethan Lane, executive director of the National Cattlemen's public lands council. "You have horses starving to death ... and irreversible damage to Western rangelands." The American Society for the Prevention of Cruelty to Animals said Trump's budget proposal was shocking. "Wild horses can and should be humanely managed on-range using simple fertility control, yet the BLM would rather make these innocent animals pay for draconian budget cuts with their very lives," ASPCA President Matt Bershadker said. Suzanne Roy, executive director of the American Wild Horse Campaign, said the plan could put the horses on the brink of extinction. "America can't be great if these national symbols of freedom are destroyed," she said.


The US Bureau of Land Management rounds up a group of wild horses in Nevada: Justin Sullivan/Getty Images Donald Trump’s latest budget proposal could allow thousands of wild horses to be sold for slaughter by reversing nearly fifty years of protections for an American icon. Slaughtering horses is illegal in the US, but popular in countries like Canada, Mexico, and parts of Europe where horse meat is considered a delicacy. Congress has long included language in budget bills specifically outlawing the sale of horses for slaughter. Mr Trump’s budget, however, forecasts $10m in saving by allowing horses not slated for adoption to be sold “without restriction”. “The current program is wholly unsustainable and a new approach is needed, particularly when considering the sharp and consistent growth in resource requirements,” the budget proposal reads. The proposal highlights a longstanding debate between those who want to protect the horses and those who would like to use the funding and land for other purposes. America’s estimated 59,000 mustangs live across about 40,000 square miles (103,600 square kilometres) of land controlled by the Bureau of Land Management (BLM). The wild horse program takes up approximately 12 percent of BLM lands, and $80.4m of the BLM’s budget – more than double what it cost in 2008. The majority of these costs come from rounding up “excess” wild horses and shipping them to private ranches. The wild horse population has experienced a boom in recent years, far exceeding the 23,622-horse limit set by the BLM. Former BLM Director Neil Kornze estimated it costs the bureau $50 million to capture and house every 10,000 horses. The bureau has significantly reduced the number of horses they round up in recent years because of budget constraints. Cattlemen and other business groups argue the current protections for wild horses are costly, and keep government corrals from being used to capture other animals. “The original intent of the [protections] was to make sure those animals had a healthy presence on the range, but also that they be kept at a number that is sustainable. [Now] you have horses starving to death … and irreversible damage to Western rangelands.” Ethan Lane of the National Cattlemen’s Beef Association told The Associated Press. Wild horse advocates, however, say there are other methods of controlling the wild horse population, such as fertility management or federal grazing program reforms. “This budget proposal is an example of lazy government,” Laura Leigh, founder of Wild Horse Education, said in a statement. “This is simply one more gift to the livestock industry.”


News Article | May 28, 2017
Site: www.forbes.com

Jonathan Swain and Amy Harder at Axios reported on Sunday morning that President Donald Trump has told "confidants" that he has made the decision to pull the United States out of the Paris Climate Accords, and will make an announcement soon, most likely this coming week.  This report will certainly produce a major backlash from the anti-fossil fuel lobby in the U.S. and globally, which correctly views the commitments made by former President Barack Obama under this executive agreement as the main driving force for increasingly restrictive regulations of the U.S. fossil fuel industries. But this report, if true, should surprise no one after the President was the only G7 leader who refrained from endorsing the Paris Accords on Saturday, a move that came after one of his advisers had told the media that Mr. Trump's views related to Paris were "evolving."  This statement was taken by many Paris supporters as an indication that the President might be moving towards changing his mind and keeping the U.S. in the agreement after all. Such hope by Paris supporters has always seemed like a pipe dream, though, since the Obama commitments within the Paris accord stand in direct opposition to the commitments made by candidate Trump during the 2016 campaign, as well as the energy policy-related actions taken by President Trump since assuming office. During his campaign, Candidate Trump made pledges to pull the U.S. out of two Obama-era executive agreements - Paris and Iran - centerpieces of his daily stump speech.  At every campaign stop, every fundraising event, every one of the campaign rallies before audiences of thousands of people, Donald Trump overtly promised to end U.S. involvement in both of those agreements, which he regularly referred to as "terrible deals" made by "stupid" people.  Indeed, this was the overarching theme of his entire campaign - that he is a superior negotiator who would be able to negotiate better deals than these for the country. Any expectation that he would now, after being pressured by his European peers, suddenly decide that Paris is a fine "deal" that the U.S. can now live under seems overly optimistic, to say the least.  It would comparable to Sherlock Holmes, after years of demonizing Dr. Moriarty as the worst villain on the face of the earth, suddenly deciding he's a really cool guy with whom he'd love to have a few beers. Then there is the reality that, as President, Mr. Trump has already issued a series of executive orders and signed Congressional Review Act resolutions that either reverse outright or order the EPA and Department of Interior (DOI) to rescind or rewrite a raft of Obama-era regulations and executive decisions for which the commitments in the Paris Accords serve as the main underpinnings. The Clean Power Plan, the Bureau of Land Management's (BLM) venting and flaring regulation, EPA's methane regulations and stricter ozone standard, higher gas mileage requirements for auto makers, the Council of Environmental Quality's (CEQ) "social cost of carbon and methane" construct, the presidential directive to all agencies to consider climate change implications in all permitting, planning and leasing decisions - all of these Obama-era actions and more were considered to be key elements of U.S. efforts to meet commitments Mr. Obama made under the Paris agreement.  All of these elements have either been eliminated or are in the process of being re-written under directives issued by President Trump.


News Article | May 24, 2017
Site: www.theenergycollective.com

Last week, the oil and gas lobby suffered a major and unexpected loss, when the Republican controlled Congress refused to eliminate the Bureau of Land Management’s (BLM) natural gas waste rule. While API has since requested a two-year stay in compliance, they should instead pause, learn the lessons presented by the CRA, and move forward according to the wishes of the American public. Here are three lessons industry should learn. 1. They misread the mood of the American public In the early days of the Trump Administration, its anti-climate, anti-environment agenda came into sharp focus. This looked like a golden opportunity to roll back environmental safeguards, including the BLM protections, which minimize the unnecessary flaring, venting, and leaking of natural gas on federal and tribal lands. With President Trump still in the early days of his victory, and single party control of both Houses of Congress, some saw a political opening, or even a voter mandate to weaken environmental protections. But what they saw was a mirage: Absolutely no one voted for more pollution. The oil and gas industry misread the mood of the American public when it comes to public health, environment, and waste of our nation’s valuable energy resources. American voters from all over the country expressed their deep opposition to this rollback. National polling showed over 70% of voters wanted to keep the BLM rule. From ranchers to institutional investors, and tribal leaders to a broad swath of environmental and health activists, Americans stood up and spoke out. Industry and Congress expected to win easily, but they didn’t have their finger on the pulse of a country whose citizens refuse to choose between energy they can reasonably afford and air they can safely breathe; economic opportunity they can believe in, and a climate that will be hospitable in the years to come. 2. They need to think about rules as investments Industry tends to either view rules as a cost or as an investment. Unfortunately, those that saw the BLM rule as a cost had the loudest voices within industry, and that paved the way for overreach. It’s time for industry to listen to its leaders who fall in the second camp. Yes, rules are not costless. Yes, companies will need to expend modest resources on implementing best practices, reporting, and other compliance activities. But those are investments. Investments in responsible operations. Investments in the communities where they work. Investment in building trust with civil society, regulators, and long-term investors getting increasingly nervous about the hissing leak methane punctures in the value proposition of natural gas in a lower carbon future. The irony is that the biggest cost to industry’s standing and license to operate – not to mention efficiency in conserving natural resources – would come in not making those investments. As industry lobbies EPA to review its own methane rule, they should take stock of lessons learned from the BLM experience. 3. There is a plus side. It’s also time to see what opportunities the BLM rule offers. First, the BLM rule takes aim at routine flaring – which is not just an eyesore, but represents a loss of natural gas and a waste of taxpayer dollars. Operators should now make the investments and operational changes needed to end this wasteful practice. Second, the BLM rule requires semi-annual leak detection and repair practices at well pads, and quarterly inspections at compressor stations. As these requirements (and similar ones from EPA and in several states) remain in force, industry has every incentive to support innovation in technologies and practices to detect leaks even more quickly and efficiently than ever before. A growing industry is ready to step up to this challenge: Start-ups like Quanta3, made-in-America businesses like Sensit, and even large firms like IBM are here to learn about operator needs, to demonstrate their technologies and approaches, and to build a factual record that can support regulatory approval as an alternative. These win-win opportunities are good for the environment and for business, but they won’t be seized without industry leadership. The BLM and EPA rules are both opportunities for industry, not just costs. Industry should take note, and move forward heeding the wishes of the majority of Americans.


News Article | April 24, 2017
Site: scienceblogs.com

Lennox Yearwood Jr was on his way to speak at the March for Science in DC, when something bad happened. He tells us: …at the March For Science in Washington DC on Earth Day, I was assaulted, roughed up, and detained by police in the shadow of the Smithsonian Museum of African American History and Culture. It was not part of an action or planned civil disobedience. It was sadly a much more regular event – an interaction between police and a person of color gone very wrong. He continues: I was walking in the rain and carrying an umbrella down Constitution Ave. from the National Archives Building towards the Washington Monument. Constitution Ave. was closed and I was excited to see so many people out for the Science March. As I approached 14th St. on Constitution, the walk sign was on, but there was an MPD officer in the middle of street letting cars proceed across 14th so I stayed on the curb. I waited as the crossing signal turned red and then it turned back to walk, signaling clearance for all of us on the curb to cross, which we started to do. I was the only person of color in the immediate area. The police officer then told everyone to get out of the crosswalk. By then I was about half way across the street. I paused in the middle of the street and then decided it was easier to proceed to the other side of the street, in effect getting out of the crosswalk. The officer then ran up to me, grabbed me forcefully by my jacket and swung me around, slamming me up against a food truck. I yelled, “What are you doing? Stop grabbing me.” He told me to stop resisting, to which I responded that I wasn’t. I dropped my umbrella, and put my hands up. I told him I was there for the Science March. He said he had to detain me because I “could be on drugs.” YES, he really said that. Conspiracy to jay walk. It gets worse. More cops show up, more tension. Eventually it deescalates as Reverend Yearwood’s identity is established. Read the whole account here. From Think Progress: Aside from the humiliation of getting roughed up by the police, Yearwood said he was extremely disappointed that the incident forced him to miss a speech given by Mustafa Ali, who earlier this year resigned as the head of environmental justice at the Environmental Protection Agency after a 24-year career. Ali now serves as senior vice president of climate, environmental justice, and community revitalization for the Hip Hop Caucus. The Hip Hop Caucus, formed in 2004, seeks to connect marginalized communities with civic matters, focusing in particular on environmental issues. The environmental movement historically has been dominated by white men, although more women have claimed leadership positions over the past decade. More at Think Progress I have to say, that I just can’t imagine this happening at the Minnesota March for Science. There is a huge overlap in who shows up at these events in the Twin Cities, and the events cover everything from economic justice to #BLM to women’s’ rights. It is not in the nature of our community to allow someone to be physically harassed by the police at an event like this, without comment or intervention. Our community has been tested in the past and has done OK in this area, especially since the RNC in Saint Paul when the true potential of a city-wide police state was unleashed on our community, we fought back on several fronts, and changed our culture somewhat. I don’t know anything about the DC environmental community but apparently it is in need of some adjustment. Ours, here in the Twin Cities, probably does too, but this? I don’t think so.

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