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Pershing Gold Corporation Message Board

  • investora2z investora2z Sep 1, 2013 5:59 AM Flag

    Better..

    The needle has moved slightly after the announcement of the $11 million funding led by insiders like Barry Honig. Now, the company has sufficient cash to reduce doubts about its ability to reach the production stage. What is required is more commentary from the management about this. That will be the real game changer for the stock. Honig continues to put in his money, and now has more than 15.4 million shares. Importantly, even the last purchase was around the market price. Investing such large amount of money has to be based on expected positives in the near future, and in the long term. There have been some acquisitions of development stage assets recently by bigger players to take advantage of the low valuations. Meanwhile, Gold has done well over the last few weeks, and has crossed important hurdles. A correction is quite possible due to the speed of the move, but one can expect important supports to hold. A rebound after the correction will make the rally more sustainable. The gold mining stocks have also done extremely well, with some of them moving by more than 40-50% on the back of a 17% move by gold. Development stage companies may start to participate in the rally based on individual merits. The positives in favor of Pershing are that it is expected to have much lower cost of production as compared to the industry averages. That makes it more immune to price fluctuations in the future. The leverage position is good and the cash position is currently very good. High level of insider ownership and experienced top management are also points to consider. The sentiments for the sector and the stock have surely improved over the last few weeks. This may translate into higher stock price if the outlook improves further.

 
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