PIONEER GROUP UNIT GETS MORE GHANA GOLD LAND

  The Pioneer Group Inc said its 70
  pct-owned Teberebie Goldfields Ltd venture was granted an
  additional concession of land in Ghana to seek and mine gold.
      The State Gold Mining Corp of Ghana granted the venture an
  additional 14.5 square kilometers in Teberebie, Ghana,
  contiguous to 11.5 square kilometers granted earlier.
      The original concession appears to have a substantial
  amount of gold bearing material containing about 2 grams, or
  6/100 ounces, of gold per tonne. But the venture has no firm
  estimate on the costs of extracting the gold and no assurances
  can be given that the reserves can be mined profitably, the
  company said. It said Teberebie Goldfields has not conducted
  tests on the newly granted land but added the land seems to be
  similar in geological characteristics to the original land.
  

