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:

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."

Rob Chang, Cantor Fitzgerald (6/8/17)
"Pershing Gold Corp. is planning a two-phase permitting and development scenario for the Relief Canyon project; phase 1 has been approved. . .phase 2 will include additional mine expansion activities and allow mining further below the water table. The company will use the mine plan in the preliminary feasibility study as the basis for the phase 2 permit application, and anticipates it will submit the phase 2 permit applications later in 2017."

Bhakti Pavani, Euro Pacific Canada (6/7/17)
"Pershing Gold Corp. announced the results of the preliminary feasibility study report for the Relief Canyon mine. Overall it's a positive development for the company as it further confirms the results of the PEA, significantly derisks the project and helps advance the Relief Canyon mine one step closer to production."

Heiko Ihle, Rodman & Renshaw (6/6/17)
"Highlighted within Pershing Gold Corp.'s preliminary feasibility study for its Relief Canyon mine was the company's first ever reserve estimate for the site, with approximately 80% of gold ounces within the Measured and Indicated resource category now classified as Proven and Probable (2P) reserves. Pershing now boasts total 2P gold reserves of approximately 30.5 Mt, grading approximately 0.02 oz/t Au, resulting in approximately 635 Koz gold; it also has reserves of 1.6 Moz silver at the site."

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
Byron King, Editor – Agora Financial
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