Investorideas.com
Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 


Investorideas podcasts on iTunes, Google Play Music and iHeart.com


Pershing Gold (NASDAQ: $PGLC) (TSX: $PGLC.TO) New Website Showcases Preliminary Feasibility Study (PFS) for the Company's Relief Canyon Gold Mine

 

Point Roberts, WA and Delta, BC - August 17, 2017 (Investorideas.com Newswire) Investorideas.com, a global news source covering leading sectors including mining stocks announces Pershing Gold Corporation (NASDAQ:PGLC) (TSX:PGLC) (FWB:7PG1),an emerging Nevada gold producer has launched a new website www.PershingGold.com to showcase the robust economics evidenced in the recently released PFS for the Company's Relief Canyon Gold Mine.

Additionally the company website features the June investor presentation at:

http://www.pershinggold.com/Cache/1500100825.PDF?O=PDF&T=&Y=&D=&FID=1500100825&iid=4353299


Mine Development Associates, Kappes Cassidy & Associates, of Reno, NV and Jorgensen Engineering and Technical Services, of Centennial, CO, completed the PFS for the Company's Relief Canyon gold mine with an effective date of May 26, 2017. The positive PFS by MDA recommends that Pershing Gold advance the Relief Canyon Project to a production decision. Highlights from the PFS include a pre-tax net present value of $144.6 million, an internal rate of return of 89% and Net Cash Flow of $192.7 million. This NPV, IRR and Net Cash Flow assume pre-tax economics using $1,250 per ounce of gold, $16.75/oz of silver and a 5% discount rate. Further highlights from the PFS are listed below in Table 1 (showing updates to the Preliminary Economic Assessment the Company announced on June 24, 2016), and PFS gold price sensitivities are listed below in Table 2.

Table 1: Relief Canyon PFS Highlights

The favorable economics of Relief Canyon are reinforced throughout the PFS. The PFS indicates the viability of contract-mining and conveyor stacking to bring the project into production. Under the PFS, 525,790 oz Au are expected to be produced with average life of mine ("LOM") production of 93,900 oz Au/year over the 5.6 year LOM. The PFS highlights the low cost nature of this project with an average cash cost of $770/oz Au and All in Sustaining Cost ("AISC") of $802/oz Au. The modest capital expense ("CAPEX") nature of this project is reaffirmed with the PFS Initial CAPEX of $23.6 million.

Table 2: PFS Gold Price Sensitivity Analysis, Before Tax

 

About Pershing Gold Corporation www.PershingGold.com

Pershing Gold is an emerging gold producer whose primary asset is the Relief Canyon Mine in Pershing County, Nevada. Relief Canyon includes three historic open-pit mines and a state-of-the-art, fully permitted and constructed heap-leach processing facility. Pershing Gold is currently permitted to resume mining at Relief Canyon under the existing Plan of Operations.

Pershing Gold's landholdings cover approximately 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 lands.

Pershing Gold Corporation (NASDAQ:PGLC) (TSX: PGLC) is a featured mining company on Investorideas.com: Visit company profile http://www.investorideas.com/CO/PGLC/

About Investorideas.com - News that Inspires Big Ideas www.investorideas.com
Investorideas.com is a meeting place for global investors, featuring news, stock directories, video, podcasts, company profiles, interviews and more in leading sectors.

Sectors we cover in include tech, bitcoin and blockchain , biotech, mining, energy, renewable energy, water stocks, marijuana and hemp stocks, food and beverage (including organic and LOHAS, wine), defense and security including biometrics, Latin America, sports, entertainment, luxury brands and gaming.

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Disclosure: Pershing Gold Corporation (NASDAQ: PGLC) (TSX: PGLC) is a paid PR, media and news client more info http://www.investorideas.com/About/News/Clientspecifics.asp

Contact Investorideas.com

800 665 0411


Gold Mining Stocks - Gold Mining Stocks Directory, Gold Stocks News, Research and Resources

Gold-MiningStocks.com - investing ideas in gold and mining stocks

Like Gold Stocks? View our Gold / Mining Stocks Directory

Get News on Mining Stocks



Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max



Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner