Established in 2007, Pharaonic Resources has rapidly become one of the largest gold exploration, mining and streaming companies operating in mineral-rich Egypt.
Pharaonic's cutting-edge engineering solutions, technical expertise, experienced team of geologists, geochemists and geophysicists, and accomplished, global management have all lead to its positioning as one of the most trusted developers of multi-million ounce gold deposits in Egypt.
Gold Investment Opportunity
Aside from having a management team with a record for success, Pharaonic Resources’ current lucrative Fawakheir and El Sid gold mines is generating a tremendous growth rate and creating phenomenal opportunity for gold investment.
As do our gold investors, we value growth. We take a growth-focused approach, which largely contributes to shareholder value. We don’t present the same risks involved with traditional gold mining companies, while at the same time leveraging gold prices.
Pharaonic Resources does not sell forward its gold sales. With the price of gold continuing to appreciate and gold investment on the rise, we are well positioned for significant growth.
Egypt Today
Vast natural resources
Stable, progressive government actively encouraging overseas investment
New Egyptian Mineral Resource Authority established
Recent enstatement of investor-friendly laws such as long-term tax exemptions and protection against nationalisation
Excellent infrastructure
Highly skilled and low cost workforce
Low cost of gold production
Egypt Attracting Gold Investment
Awareness of Egypt’s rich gold source dates back 5,000 years when ancient Egyptians made extravagant use of gold for jewelry, temples and tombs. Then gold held such religious and cultural significance that burial chambers became "Houses of Gold."
But over time many of Egypt’s gold deposits were abandoned, with many untapped and removed from gold exploration for more than 2,000 years.
In 2007 major developments in Egypt opened doors for gold exploration and gold mining and investing. That year Egypt renewed its commercial gold production. Now in 2010, the Egyptian government is aligning itself with foreign gold investors, which will spike Egypt's gold production up to around 300,000 ounces.
Seeing the long- and short-term benefits to Egypt's economy, the country signed a memorandum with the World Bank’s International Finance Corporation (IFC). The promising news for gold investors in this market of rapidly increasing gold valuation, is that Egypt is structuring its gold mining sector so that it is better suited for investment and can meet increasing demand.
Today the country so tied to gold that its people once considered it the skin of their gods, derives only 1% of GDP from its mineral resources. The restructuring is predicted to make mineral resources such as gold approximately 10% to 12% of the gross domestic product.
Egypt's gold reserves soared to 70 million ounces (up from 3 million in 2005) as a result of gold exploration campaigns carried out by three international companies in the geographical areas of Jabal Al-Sokary and Hemsh in the Eastern Desert, one of which is SMW Gold, a subsidary of Pharaonic.
In a recent newspaper interview, Mr. Sameh Fahmy, the Egyptian Petroleum and Mineral Resources Minister, stated: "We have huge reserves. We want international companies to join us."
As the gold price continues its rise, Pharaonic Resources is very well positioned to generate impressive gold investment returns.
