Pershing Gold Corp.

Pershing Gold Corp. is an emerging Nevada gold producer uniquely positioned to create shareholder value by fast-tracking the reopening of the Relief Canyon mine, which includes three open-pit mines and a state-of-the-art, fully permitted and constructed heap-leach processing facility. The company's landholdings cover over 25,000 acres that include the Relief Canyon mine asset and lands surrounding the mine in all directions. This land package provides Pershing Gold with the opportunity to expand the Relief Canyon mine deposit and to explore and make new discoveries on nearby land.

Expert Comments:

"Near term, I like Pershing Gold Corp. I like Nevada and I know management is working on getting on a better exchange. The resource certainly merits that. This is a past producer with a state of the art processing facility on site. It is open pit and all infrastructure is in place. That is a rare situation." read more >

"We are particularly excited about Pershing Gold Corp. It is currently listed on the OTC Bulletin Board, but it does have designs to uplist onto a larger exchange. We're very excited about Pershing because it has a property, Relief Canyon, located in Nevada near Coeur Mining's Rochester mine. Relief Canyon is a past-producing mine with an open pit. Most important, it has a mill that was barely used on site. It was shut down because the previous management team ran out of money. The upshot is that Pershing has a relatively new mill on the site of a past-producing pit in a well-known precious metals, primarily gold, jurisdiction with some silver. We assess that Pershing can get up and running at a very low cost. Money managers often ask us to suggest cheap investments that can produce in the short term. Pershing Gold fits the bill because it will only cost, say, $20 or 30 million of capex to ramp up into production. The asset is fully permitted. In addition, Pershing has had excellent exploration success that is encountering grades that are three to five times greater than what is listed on the official NI 43-101 resource for the project. . .we estimate the all-in cost at $850–900/ounce, which is very low. The reason is this is run-of-mine material. You basically take it out of the ground, stick it right on the leach pad and start leaching. It does not cost much to take it out of the ground because much of the overburden is already stripped. Plus, it does not need to be crushed, because it is run-of-mine material.

Another selling point for Pershing Gold is its excellent management. Executive Chairman and CEO Stephen Alfers is the gentleman responsible for discovering Long Canyon, which was sold to Fronteer Gold and later on to Newmont Mining. He later became the head of U.S. operations at Franco-Nevada. He saw the opportunity at Pershing and decided to leave Franco-Nevada to become Pershing's CEO. That is a very strong vote of confidence in the solid project. . .Pershing Gold has outperformed gold over the past month. Over the past three months, it's been in line with the gold price movement. As an under-the-radar, near-term gold producer, we think Pershing Gold is quite valuable." read more >

H.C. Wainwright & Co. (11/20/14)
"We are reiterating our Buy recommendation on Pershing Gold Corp. . .we continue to believe that Relief Canyon could provide a 'turnkey' scenario with relatively little capital expenditures required to bring the site into production."

"I am impressed by Pershing Gold Corp.'s play at the south end of the Carlin Trend. Pershing just raised $10M in a private placement for its Relief Canyon play. The Carlin Trend is a consistently good place to invest. It has sustainable gold resources. The big guys, in this case Goldcorp and Barrick, are increasingly taking strong positions there. Nevada is a solid, stable mining territory." read more >

Rob Chang, Cantor Fitzgerald (11/3/14)
"Pershing Gold Corp.'s step-out drilling at Relief Canyon continues to intersect higher than resource estimate grades. . .all 2014 drilling data will be incorporated into an updated NI43-101 resource estimate expected to be released in early 2015. . .highlights from the drill results include drill hole RC14-203 which reported 4.07 g/t Au over 58.1 ft. . .state and federal regulatory authorities have approved the final permits needed to start mining at the Relief Canyon mine. . .we expect production to commence in 2016 and we forecast 85 Koz Au to be produced that year. . .we maintain our Buy recommendation."

Jeb Handwerger, Gold Stock Trades (10/27/14)
"Pershing Gold Corp. announced a financing with some of the most active and smartest U.S. investors and now sits with over $20M cash, a fully permitted heap-leach facility and an expanding gold resource base in Nevada. . .I expect the stock to be uplisted to a major exchange such as the New York Stock Exchange or NASDAQ in the near term. . .the weak junior mining environment could play into the advantage of. . .Pershing to pick up quality mining assets at a bargain."

More Comments

Experts Commenting on This Company

The information provided above is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
Investing Highlights
Fast-track the Relief Canyon to production.
Confirm, expand and upgrade the gold resource at Relief Canyon.
Discover and develop satellite deposits on ~25,000 acre land package.
catalyst Calendar
Complete 2014 Drilling Program, Up-list to major stock exchange
Update Resource Estimate
Complete PEA
Pershing Gold Corp. Content