Paramount Gold shares rise 10.23% premarket after securing Grassy Mountain project’s federal approval.

Paramount Gold (PZG) rose 10.23% in premarket trading following two key developments. The company secured the Record of Decision (ROD) for its Grassy Mountain Gold Project in Oregon, finalizing the federal environmental review process under NEPA. This milestone, described as "historic" by the CEO, reduces project risk and positions Grassy Mountain as a "shovel-ready" project, potentially boosting U.S. mining industry activity. Additionally, Alliance Global upgraded its price target to $3.25 from $1.70, maintaining a "Buy" rating, signaling renewed analyst confidence. The ROD approval and analyst upgrade align with the stock’s sharp premarket surge, reflecting optimism over regulatory progress and future growth potential despite ongoing losses and a high price-to-book ratio.