PERSHING GOLD RESEARCH REPORT
PGLC IS WELL POSITIONED IN NEVADA!
PGLC has strategic relationships in place with Newmont Mining and
Coeur Mining, both precious metals producers listed on the New
York Stock Exchange.
Newmont Mining (NYSE: NEM), PGLC’s neighbor on three sides, ...has land agreements for their mineral rights with PGLC.
Coeur Mining (NYSE: CDE), PGLC’s neighbor to the North, ...their Rochester operation has been producing just north of Pershing Gold’s Relief Canyon Mine for the past 30 years.
RELIEF CANYON MINE & PROCESSING FACILITY
The Relief Canyon Mine property includes three open-pit mines and a state-of-the-art, fully permitted and constructed heap leach processing facility. The plant has the capacity to treat eight million tons per year. The permitted leach pad can hold 21 million tons and can be readily expanded. The facility is ideally situated to process ore from future discoveries of satellite deposits.
These assets present Pershing Gold with the opportunity to capitalize upon the synergies of an existing processing facility adjacent to a mine that has additional resources to achieve a fast-track path to production at the Relief Canyon Mine.
PGLC's CEO: A HISTORY OF BUILDING SUCCESSFUL COMPANIES
PGLC is led by CEO Stephen Alfers, a veteran mining executive who founded and built a junior gold mining company (NewWest Gold), and sold it to Fronteer Gold, which was subsequently sold for CDN $2.3 billion to Newmont Mining (NYSE: NEM). Alfers is now CEO and a major shareholder of PGLC.
After his successes at NewWest, Alfers was Chief of U.S. Operations at Franco-Nevada (NYSE: FNV), the world's largest gold royalty company.
Since becoming CEO, Alfers has put PGLC on the path to become one of Nevada’s next gold mining companies.
Major stockholders include Dr. Phillip Frost of Opko Health (NYSE: OPK), who owns more than 53 million shares in PGLC, and Barry Honig of interCLICK, Yahoo! (NASDAQ: YHOO), who owns more than 43 million shares in PGLC. One insider has bought PGLC in at least 16 transactions since July.
PGLC MILESTONES TOWARDS PRODUCTION
- PGLC acquired Relief Canyon Mine, a $15 million dollar gold processing plant with most permits in place to go back into production.
- PGLC signed a land agreement with Victoria Gold and Newmont Mining, acquiring control of land surrounding the Relief Canyon Mine.
- PGLC eliminated property boundary constraints that limited past mine development and expanded landholdings to cover more than 25,000 acres (39 square miles)
- PGLC completed drilling programs which yielded nearly five-times increase of Mineralized Material at Relief Canyon
- PGLC advanced timeline for reopening Relief Canyon Mine and Processing Complex
- PGLC identified two previously undiscovered and unrecognized mineralization styles at Pershing Packard and South Relief, in addition to verifying the gold and silver trends on its property.
- PGLC announced on August 26, 2013 completion of $11.1 million Series E convertible preferred financing to fund Pershing’s efforts to advance the Relief Canyon Mine and for other purposes
- Alex Morrison, former VP and CFO of Franco-Nevada, joined PGLC's board of directors.
- Coeur Mining invested $3.0 million in PGLC at $0.32 per share.
- PGLC announced favorable drill results from a recent drilling campaign.
- Director Barry Honig significantly increases his personal investment in PGLC by over $5 million in latest financing.
- PGLC announces 2013 drilling program to expand gold deposits at its Relief Canyon Mine.
- PGLC discovers high-grade gold and extends lower zone mineralization at the Relief Canyon mine. The Lower Zone remains open in all directions.
- Pershing Gold takes key steps towards resuming production at the Relief Canyon Mine. Expected Q1 2014 updated resource report and PEA.
- Pershing Gold Reports Significantly Higher Gold Grades in New Lower Zone Drilling Results at Relief Canyon
PGLC IS CURRENTLY A VALUE
Owning stock in a small gold emerging producer, like Pershing Gold, can prove to be better than owning a major producer, or physical gold. Emerging producers typically trade at a premium to major producers, and the premiums tend to increase as they get closer to production.
Additionally, PGLC can build value multiple ways: by expanding gold resources, through advancing the Relief Canyon project to production and through leverage to gold prices.
PGLC's cost of production should be relatively low because its near surface gold deposits allow for open-pit mining to feed gold ore to its already built-out gold processing plant.
All of PGLC's mining property is located in Pershing County, Nevada, one of the most mining friendly states in the US. The entire population of Pershing County is less than 7,000 people.
WHAT IS PGLC UP TO TODAY?
PGLC is focused on restarting mining operations at the Relief Canyon Mine property and expanding the estimated resources on its contiguous 25,220 acres land package. In 15 months, three exploration programs have discovered additional gold mineralization both at and immediately adjacent to the Relief Canyon Mine deposit, and also have identified several drill ready targets elsewhere on the company's adjoining mining properties. Pershing’s 2013-14 mine development program’s next steps include completing metallurgy, engineering and geotechnical work to update a 43-101 compliant resource and prepare a Preliminary Economic Assessment.
Pershing’s Relief Canyon mine located in the established gold trend along with its neighbors the major producers Barrick Gold, Newmont Mining and Coeur Mining… the company being built by a seasoned CEO... the purchase of an existing gold mine with an existing, permitted gold processing plant... the increase in PGLC's land package by more than 24,000 acres... the completion of multiple phases of PGLC's drilling program... and a recent financing in an extremely difficult environment to raise money...
Research Pershing Gold (PGLC) today!
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Smart Money Report is owned and operated by Interactive Investors Inc., a U.S. corporation, which together with its owners and their affiliates, directors, officers and immediate family members are referred to as “III”. III and its affiliate companies have been previously paid $1.9 million and 1 million shares of restricted stock by Pershing Gold for past investor relations work. III has also purchased 290,000 shares (which are now free trading shares) in a private placement, 600,000 shares in the open market and 500,000 shares from a third party shareholder. We fully intend to sell these shares, even as we speak optimistically about the future of PGLC. III may buy and sell the shares in the open market before, during or after the dissemination of this report or at any time, which may cause significant volatility including drops in the price of the PGLC stock price and/or significantly depress PGLC’s stock price.
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