Gold Rush 2.0: How Paramount's Grassy Mountain Could Strike Paydirt

The U.S. mining sector is undergoing a quiet revolution, and Paramount Gold Nevada Corp. (NASDAQ: PGN) finds itself at the epicenter. With its flagship Grassy Mountain Gold Project hurtling toward final permitting, the company stands to capitalize on a rare confluence of favorable economics, regulatory tailwinds, and geopolitical urgency. At the heart of this transformation is the FAST-41 program, a federal initiative designed to fast-track critical infrastructure projects—including mining operations—through the labyrinth of federal permitting. For Paramount, this means the difference between years of bureaucratic limbo and a path to production that could unlock billions in shareholder value.

The FAST-41 Breakthrough: A Permitting Moonshot

The Grassy Mountain project, which aims to become Oregon's first modern gold mine, was added to the Federal Permitting Dashboard under FAST-41 in May 2025. This designation is no minor bureaucratic tweak. FAST-41, part of the 2015 Fixing America's Surface Transportation Act, mandates that federal agencies adhere to strict timelines, collaborate across jurisdictions, and publicly track milestones. For Paramount, this means the draft Environmental Impact Statement (DEIS) is now slated for release in early August 2025, with final permits expected by December—a timeline that shaves years off traditional processes.

The program's power lies in its transparency: stakeholders can monitor progress in real time via the e-planning portal. This sunlight isn't just symbolic. By December, the Bureau of Land Management (BLM) must issue both the final EIS and its Record of Decision concurrently—a “go/no-go” moment that Paramount appears poised to pass.

A Gold Rush Fuelled by Geopolitics

Grassy Mountain's timing could not be better. Gold prices, now above $3,350 per ounce—more than double their 2020 levels—have made even marginal deposits economically viable. Paramount's Feasibility Study, conducted at $1,750/oz, projects an 8-year mine life with annual production of 47,000 ounces of gold and 55,000 ounces of silver. At today's prices, the project's Net Present Value (NPV) soars to $189 million, with an after-tax Internal Rate of Return (IRR) of 22.5%. This is not just a mine; it's a cash flow engine in a world hungry for physical gold as a hedge against inflation and instability.

But the project's true edge lies in its alignment with U.S. strategic priorities. The FAST-41 program, expanded under Executive Order 14241 in 2025, prioritizes domestic critical mineral projects to reduce reliance on China and Russia. Though gold isn't classified as a “critical mineral,” its economic and geopolitical importance has earned Grassy Mountain a seat at the table. This is a signal to investors: the U.S. is doubling down on domestic resource independence, and Paramount is first in line.

The Risks—and Why They're Manageable

No mining project is risk-free. Delays, environmental lawsuits, or a sudden drop in gold prices could upend the timeline. Yet Paramount's execution to date suggests it's prepared for these hurdles.

• Permitting Momentum: The project has already secured key state and federal approvals, including Oregon's unanimous endorsement of its “Best Available, Practicable, and Necessary Technologies” (BAPNT) for environmental safeguards.
• Cost Discipline: The 2020 feasibility study's $97.5 million initial capital expenditure remains intact, even as gold prices rise. With no inflation-driven cost overruns yet reported, the project's margins are robust.
• Geopolitical Tailwinds: As the U.S. seeks to rebuild its mining sector, regulatory agencies are incentivized to act swiftly. The BLM's public commitment to an aggressive timeline speaks volumes.

The Investment Case: A High-Reward Play

Paramount's stock has quietly outperformed peers this year, rising 40% since January—outpacing the GDM Index's 22% gain. But this may be just the beginning. If Grassy Mountain secures final permits by December, production could begin in 2026, turning Paramount from a mid-tier explorer into a cash-generating producer.

For investors, the calculus is clear: - Near-term catalysts: DEIS release in August and final permits by December are binary events that could revalue the stock. - Long-term upside: The project's proven reserves of 380,000 ounces of gold and 554,000 ounces of silver offer a foundation for expansion, with exploration targets like the North Spur and Wally/Wood zones potentially extending its lifespan. - Gold's structural bull market: Central banks' buying, inflation, and geopolitical tensions ensure that gold remains a must-have asset class.

Final Verdict: Strike While the Iron Is Hot

Paramount Gold Nevada Corp. is no longer a “what if” story. With the FAST-41 program acting as a regulatory turbocharger and gold prices at historic highs, Grassy Mountain is primed to deliver on its promise. For investors seeking exposure to a low-cost, high-margin gold project with a clear path to production, PGN offers a rare blend of catalyst-driven upside and macroeconomic tailwinds. This is a company—and a project—to watch closely.

The next six months will test Paramount's mettle, but the writing is on the wall: in the rush to rebuild America's resource base, the Grassy Mountain gold rush is finally within reach.