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:

Heiko Ihle, Rodman & Renshaw (3/28/16)
"Pershing Gold Corp.'s Relief Canyon Mine currently has a fully permitted 14,000 tpd heap leach facility, which we believe could be ready to process ore in just a few short months. . .management is taking a conservative approach to bringing Relief Canyon into production, as the focus has been on further drilling out the project in order to gain a better understanding of the geology. . .Relief Canyon remains a unique asset that is fully permitted and requires little additional capital. Therefore, we expect the project to be one of the next mines to enter production in Nevada."

Bhakti Pavani, Euro Pacific Canada (1/21/16)
"On Jan. 20 Pershing Gold Corp. announced final drill results from its 2015 drill program. . .significant gold intercepts were encountered in some of the drill holes at all three target areas: Jasperiod target, North target and Southwest target area. . .the resource estimate should see an addition of higher gold ounces in the Inferred category, in our opinion. Pershing expects to announce metallurgy test results over the next few weeks and will provide a resource estimate update in Q2/16."

"Pershing Gold Corp. has the past-producing Relief Canyon mine, which has 809 Koz gold Measured, Indicated and Inferred. The project has a short-term path to production: 6–12 months, once the decision is made. It is fully permitted and will require capital expenditures of only ~$12M. In addition, the company has been finding some spectacular gold intercepts just north of the mine, including 9 g/t over 14m and 7.03 g/t over 16m. Pershing's management actually thinks that it might be hitting a feeder system that could be a source for millions of ounces of gold. Finally, the company has a good management team. Steve Alfers, the CEO, is the former head of U.S. operations for Franco-Nevada. He left Franco to join Pershing, which speaks to how highly he values it. Alfers has experience in finding assets, including Long Canyon, which was sold to Fronteer Gold. His permitting people are quite strong. This is a solid company from top to bottom. . .what's significant in the Relief Canyon internal cost estimates published Nov. 19 is the AISC of less than $800/oz. If this number holds, Relief Canyon will make money pretty easily, even at $1,050/oz gold. We are currently more conservative and are forecasting AISC to average $866/oz for Relief Canyon—more conservative, but still economic in the current gold price environment. . .the Nov. 19 estimate does not include the latest assay results. Given how good these results are and that the company continues to drill, it could potentially add many more ounces and improve the economics further still. . .Pershing is in a fairly good cash position with about $13M now. It will likely need to raise a little more once the production decision is made. . .potentially Newmont could be a suitor. Newmont may be waiting to see how much exploration upside there really is at Relief Canyon before it decides to pull the trigger. . .I give Pershing a Buy rating and a 12-month target price of $8.55." read more >

Heiko Ihle, Rodman & Renshaw (12/16/15)
"On Dec. 15, Pershing Gold Corp. announced the completion of its 2015 drill program at Relief Canyon. . .in our view, the 2015 drilling program should be included in an updated resource estimate, which should form the basis of a PEA. . .that being said, we expect the site to be meaningfully advanced in 2016."

Bhakti Pavani, Euro Pacific Canada (11/23/15)
"On Nov. 16, 2015, we visited Pershing Gold Corp.'s Relief Canyon mine site. . .we were impressed by the current state of the heap-leach facility at the site. . .the milling/crushing plant, with a capacity of processing 8 Mt ore, is brand new and has hardly been used. . .we maintain our Buy rating."

Heiko Ihle, Rodman & Renshaw (11/20/15)
"On Nov. 19 Pershing Gold Corp. announced internal economic metrics for its wholly-owned Relief Canyon project located outside Reno, Nevada. As we envisioned, the estimates outlined a project that we believe could be operated in today's metal price environment: a low capital expenditure and low operating cost. . .heap-leach project in a mining-friendly jurisdiction—something investors should look toward in a down market. Therefore, we expect the site to be advanced meaningfully in 2016 with the release of a formal preliminary economic assessment in Q2/16."

More Expert Comments

Experts Following This Company

Rob Chang, Senior Analyst and Head of Metals & Mining – Cantor Fitzgerald
Jeb Handwerger, Author Gold Stock Trades
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Bhakti Pavani – Euro Pacific Canada

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
Advance the Relief Canyon Mine to commercial production
Continue expanding the Relief Canyon deposit through development drilling
Explore ~25,000 acre land position to discover and develop additional gold deposits
Create value through strategic transactions