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Pershing Gold Corporation Message Board

  • investora2z investora2z Nov 3, 2013 10:06 AM Flag

    Gold needs to do better

    Gold has remained weak and is unable to make decisive positive moves. Till that happens, the nervousness will continue. It is possible that the sluggishness will continue for a long time. Pershing hired an engineering consultant to update several key permits for the mine. CEO Alfers stated that the expertise of the consultants will help Pershing optimize the design of the expanded mine and secure the required permit modifications. Most importantly, Alfers stated that Pershing is well situated to become Nevada's next new gold producer because the company already has a fully constructed and permitted gold recovery facility for its gold resources. The company is poised for fast-track resumption of gold production with only modest capital expenditures to re-start the entire operation. The reaction of the stock to this news was muted, but one cannot ignore the fact that the company has obtained the necessary funding for getting close to production, and is declaring that it is going to start production soon. The insiders are putting in money regularly, and Barry Honig has acquired more than 1.1 million shares in last two months alone. Out of this, 425,000 shares were purchased during last week. Its cost of production is expected to be extremely low, so even the current price scenario is not too bad for the company. Many analysts have calculated the expected cash flow in case the company is able to produce 50K ounces as per plan. However, the company has not come out with a time frame for start of production. That is very much required so that one knows the anticipated schedule. That announcement will be a positive trigger for the stock. In any case, gold has to do better than what it has done so far otherwise the mood will remain circumspect. It needs to move beyond $1350 to indicate that the correction is getting over.

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    • "The company is poised for fast-track resumption of gold production with only modest capital expenditures to re-start the entire operation."
      You seriously can't believe this!! What do you think Alfers means by "fast track" and "modest"?
      "Its cost of production is expected to be extremely low" - this is very dangerous total speculation and nobody will have a clue on this until a PEA is produced - and Alfers doesn't seem to clear on when that will be based on the latest management presentations.
      You are pumping this stock with nonesense - hope you didn't risk too much on this fantasy.

      • 2 Replies to maxkonaet
      • Max, now this is the kind of mine I want to own! Grab a pick and a shovel and meet me in California!

        "I would estimate that the gold will go a half ounce per ton, silver at 4 ounces per ton, copper at 2 pounds per ton and tungsten at 10 pounds per ton. That's a whopping 1000 dollars per ton. A lot of people don't understand the value of tungsten, did you know that tungsten is $22.50 a pound, more than 7 times the worth of copper per pound."

      • maxkonaet, there maybe some pumpers on this board, and there are some bashers as well.. Let me ask you, how many gold mining companies have you ran successfully? What qualifies you to debate every statement that is announced by the CEO Alfers who is qualified and has an impeccable track record? Are you a shareholder? If so, call the company and ask these questions'll get a response that is satisfactory I'm sure. If you're not, then find another board to aggravate.

        Sentiment: Strong Buy

    • Since gold is a fractional reserve system , as admitted by the CFTC, the physical inventories needed to maintain price suppression are dwindling. This can be seen by observing the Comex and fraudulent, IMO, GLD. The manipulation is obvious to anyone with half a brain. China and India are buying almost all of the worlds production. That means the central banks are dis hoarding their gold in order to meet the enormous physical demand. Supply and Demand laws Always win out! PGLC $2 by 2016.

      Sentiment: Strong Buy

    • Ive said it many times. the price is the biggest factor of all. at 1300/22 bucks miners are not going to do well. Many JM's and projects should be shelved also to give better projects and the better JM's a chance to rasi more capital. too many JM's out ther with no real chance sucking up investor money.

    • investora2z, I agree! If, gold continues to hover around the all the all out costs for a extended period of time......what Max predicts could come true.

      • 1 Reply to buck_wheat_says
      • Buck yes - my point is repeated here - nobody knows the all in cost for PGLC and there is no PEA available to base anything on. Gold production @ $1000 and market price of $1300 is not looking good. The cost of getting to production would be huge and we have no dates anymore - Alfers used to put dates on things before - but now he is missing the dates he just says things like "fast track" and that don't mean anything!

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