E Pershing Gold – Steady Insider Buying And A Catalyst For Revaluation

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Source: Pershing Gold Corporate Presentation

That would suggest that the valuation should also be similar.

The next obvious question would be when can we expect production and cash flow to commence?

The most recent information that I could find to try and address that question is in this interview with Pershing’s CEO Stephen Alfers.In the interview, Alfers noted that Pershing has completed an economic assessment that confirms the profitability of the project, have all of the necessary permits in hand and fully intend to commence production at some point in 2017. 

He was vague about when in 2017 that production might happen, but he did seem committed to next year.

(Click on image to enlarge)

Source: Pershing Gold Corporate Presentation

The insider buying would seem to suggest that there is no reason to doubt that.

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Disclosure: I don’t own any shares of companies mentioned in this article.

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Intelligntinvestor 4 years ago Member's comment

In December 2016, NDEP (Nevada Division of Environmental Protection/Bureau of Mining Regulation and Reclamation Phase) issued the Reclamation Permit for Phase I expansion of the Relief Canyon Mine. Pershing Gold also has the approval from Bureau of Land Management for Relief Canyon Mine Expansion. Now, Pershing Gold has the permission to initiate the restart and expansion of Relief Canyon Mine. They are also working on air pollution control mechanisms. It shows that the company is progressing and investors seem happy about it (reflected in stock price).