Welcome Stockaholics!

We are a new and fast growing financial forum! Sign up for free and let's talk stocks!

  1. Do you want to help develop this community? We are looking for contributions from investors and traders like you! What stocks do you follow? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing financial forum!
    Dismiss Notice
  2. You will notice a live chat widget on the right. Click in to join us and lets hear about how you nailed that last UWTI trade!
    Dismiss Notice

PGLC - Pershing Gold Corporation

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Dan Thunderbolt, Apr 11, 2018.

  1. Dan Thunderbolt

    Joined:
    Aug 26, 2017
    Messages:
    44
    Likes Received:
    0
    Had Pershing Gold on my watchlist for quite some time. Recently bought some shares. There have been delays with the start of production but I think now might be a good chance that they will actually get it done.

    Link to company presentation:
    http://www.pershinggold.com/Cache/1001233022.PDF?O=PDF&T=&Y=&D=&FID=1001233022&iid=4353299

    The project has a Net Present Value of $145 million at a gold price of $1,250. At a gold price of $1,350 the NPV is $185 million. The current market cap is below $80 million.

    Here is a link to an interview from January this year. Based on this I assume they are moving closer to getting the project financing done. Once the financing is done it will take 6-9 months until production.

     
  2. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    9,469
    Likes Received:
    2,631
    [​IMG]


    Pershing Gold Corporation engages in the exploration, development, and mining of gold and precious metals primarily in Nevada. It focuses on the exploration of Relief Canyon properties covering an area of approximately 25,000 acres in Pershing County in northwestern Nevada. The Relief Canyon properties comprise approximately 948 owned unpatented mining claims, 120 owned millsite claims, 172 leased unpatented mining claims, and 2,235 acres of leased and 2,770 acres of subleased private lands. The company was formerly known as Sagebrush Gold Ltd. and changed its name to Pershing Gold Corporation in February 2012. Pershing Gold Corporation is based in Lakewood, Colorado.
     
  3. Dan Thunderbolt

    Joined:
    Aug 26, 2017
    Messages:
    44
    Likes Received:
    0
  4. Dan Thunderbolt

    Joined:
    Aug 26, 2017
    Messages:
    44
    Likes Received:
    0
    In my estimation, the stock price of Pershing has dropped to its current levels because the start of production had been delayed further and further. However, I think that at the latest by May / June of this year the project financing will be done. Then 6-9 months construction phase. The plan is 97.100 oz Au / year with AISC of $801. Minelife is 5.6 years. This results in $50 million profit per year at a gold price of $1,300. Equity financing is already done. Listen to the interview at youtube in my first post. The most interesting and important part of the interview starts at 21:25 min.

    Once the project financing is done, in my opinion the stock price of Pershing should move up significantly. I also hope that the minelife will be extended by increasing the resources. The current drilling program is particularly aimed at this. Positive results could boost the stock price as well. See also the following link:
    http://www.northernminer.com/news/p...f-canyon-while-trying-to-build-it/1003794945/

    The market cap of Pershing is currently less than $70 million (I had mistakenly stated in one of my previous posts that it is $ 80 million).
     
  5. Dan Thunderbolt

    Joined:
    Aug 26, 2017
    Messages:
    44
    Likes Received:
    0
  6. Dan Thunderbolt

    Joined:
    Aug 26, 2017
    Messages:
    44
    Likes Received:
    0
    Yesterday received feedback from Jack Perkins (vice president, investor relations). Not much new to report, but let's hope the project financing will be done soon and the start up of construction will begin. Then significantly higher prices should follow imo.

    "The first order of business is securing the project finance. That is still on track and we are negotiating terms as we speak. I can’t say much more than that, other than it is our first priority. Once this is completed, we will finish building out the leach pads, relocate the crusher and install an overland conveyor system. We also plan to install a refinery in the plant. Timeline for construction is 6-9 months from when we secure the project finance. This very short construction period is due to the fact that we have so much infrastructure already in place on site."
     
  7. Dan Thunderbolt

    Joined:
    Aug 26, 2017
    Messages:
    44
    Likes Received:
    0
    According to slide 7 of the company presentation on their website the Pre-Feasability-Plan Net Present Value of the project is $165 million with a Gold price of $1.300. Lots of upside potential imo once financing deal is done. Current market cap is below $70 million.
     

Share This Page