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:

Rob Chang, Cantor Fitzgerald (12/20/17)
"Pershing Gold Corp. announced that it has closed the concurrent financing of a 2,794,500 unit bought deal public offering and a 2,347,236 unit private placement for gross proceeds of $14.6M. . .the completion of the equity portion of an expected $40M total raise removes the associated overhang on the stock. In fact, this is likely the last 'new money in' prior to Relief Canyon commencing production at 2018E/early 2019."

Joe Reagor, ROTH Capital Partners (12/14/17)
"On Dec. 11, 2017, Pershing Gold Corp. announced a $13.6M equity raise that was the combination of a bought deal public offering and a private placement. Each transaction consisted of 2.43M common shares and 972K warrants with a price of $2.80/unit (one share and 0.4 warrants/unit)."

Bhakti Pavani, Euro Pacific Canada (12/13/17)
"On Dec. 11, 2017, Pershing Gold Corp. announced a bought deal financing of $6.8M and a private placement of $6.8M. . .following the closing of the offering and expected cash burn of ~$2.5M in Q4/17, the company should close the year with a cash balance of ~$16.3M. . .with a cash balance of ~$16.3M and a $20M credit facility with Sprott Financial (currently undrawn), Pershing has sufficient cash to initiate construction of the Relief Canyon mine."

As this company moves closer to bringing a mine into production, a U.S. Department of the Interior decision could help derisk the project.
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Rob Chang, Cantor Fitzgerald (10/26/17)
"We are maintaining a BUY recommendation and our target price of US$4.25 per share. . .our target price is based on a 1.0x multiple to our NAV valuation of US $4.26 per share. . .Pershing Gold Corp.'s Relief Canyon project is approved for Phase 1 but still requires approval for its second phase. . .with a Plan of Operations for Phase 2 expected to be submitted early next year, this Secretarial Order de-risks the time risk for Pershing by providing an expectation of about a year for the approval of the EIS."

Rob Chang, Cantor Fitzgerald (9/18/17)
"Pershing Gold Corp.'s Relief Canyon, which expects to submit its plan of operations for the Phase 2 portion early next year, is one of several mining projects to be positively impacted by the immediately effective U.S. Department of the Secretary order that significantly streamlines the environmental impact statement process by imposing limits of a year to complete. . .this secretarial order derisks the time risk for the company, which is a very significant development."

Joe Reagor, ROTH Capital Partners (6/12/17)
"The preliminary feasibility study (PFS) on Pershing Gold Corp.'s Relief Canyon confirmed a number of our prior expectations and most significantly confirmed the viability of the project, in our view. Additionally, we believe the PFS addressed prior metallurgical concerns and that the company's election to significantly reduce the amount of run of mine ore and to instead crush and agglomerate the majority of mined ore should reduce risks related to recovery rates."

More Expert Comments

Experts Following This Company

Rob Chang, Senior Analyst and Head of Metals & Mining – Cantor Fitzgerald
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Bhakti Pavani – Euro Pacific Canada
Joe Reagor, Analyst – ROTH Capital Partners

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