"Pershing also owns 24% of Valor Gold Corp., which has the Red Rock property in the Battle Mountain Trend. Money is coming into that project as well—another example of optionality. Art Leger is heading up the discovery drilling on Red Rock. There is a lot of excitement there as well. There is not a lot of downside to what Steve Alfers has done with Pershing. The stock moved from $0.30/share to $0.51/share. I think it will move again. . .Steve has some great geologists and a fully permitted heap-leach plant. He also has one of the world's wealthiest investors backing him. Dr. Phil Frost, a life sciences guru, owns a significant percentage of Pershing Gold. . .right now, it trades on the OTC Pink, but I expect to see Pershing listed on the NASDAQ or the NYSE Market."
Pershing Gold's chairman and CEO, Steve Alfers, ran the royalty business at Franco-Nevada Corp. He has an encyclopedic knowledge of the gold space, especially in Nevada, and has assembled a great team. I've been out to see the company's properties near Lovelock, Nevada. I think Pershing will have 700–800 Koz Indicated and Inferred gold in Q1/13, as well as an NI 43-101. Pershing Gold is definitely one to watch because it's in the right place, with the right team—and it is very cheap. Coeur d'Alene recently bought 10M shares of Pershing Gold. It's a very interesting play."
Pershing recently closed a private placement with Coeur d'Alene Mines Corp., Pershing's neighbor to the north and the largest silver producer in the United States. The investment by Coeur into Pershing is a real game changer; it shows that Pershing can pass serious institutional due diligence. I would also imagine that we'll be seeing more deals between Pershing and Coeur in the future. In addition, Pershing recently announced what looks like a new discovery. The company drilled a target at the Pershing Packard project located near its boundary with Coeur. The press release said that the deposit showed alteration and mineralization typically observed with other producing deposits in the area. I'm really looking forward to the assay results. The real key with Pershing is its Relief Canyon Processing Facility, which is fully paid for. Add to that the recent Coeur financing and Pershing should be fully funded, in my opinion, to production. I estimate it is going to enter production toward the end of next year. . .Pershing is one of the most exciting Nevada exploration and production plays I know."