The greatest riches lie in the undiscovered country north and west of the pit. The "old school sagebrush surveys" (geothermal) studies bear this out and those who know this country are aware of this.
Further north and west of where we now drill.( With gold at 1500) when we get those cores we will see 2.50 to 5.00 a share by 2015 if this explorer doesn't get snatched up by then. Wait for it and you will be pleased as this issue is safe to hold long term unlike some other peer explorers. Good luck to all
Sentiment: Strong Buy
I believe there will turn out to be 2,000,000 or more total ounces in Pershing's territory. At $450 valuation per ounce (the average for de-risked, shallow, near producing mines) we get $900,000,000 total market valuation. With roughly 300 million shares outstanding and little risk of more dilution, we get a market price of $3 per share.
That's my forecast: $3 per share in a year or less.
Caveat. Pershing might be bought out before a year but I don't think it would be at less than $3 per share.
Good to hear from you again - your share count is off a bit (you have to account for shares held for future management bonuses). No way will this latest dilution fund raising takes them anywhere unless they find gold. I agree proven reserves of 2 million plus ounces is the start point for this project.
They are a long way from that. That recent dilution money won't last Alfers for too long. Honig will have to dig deeper. Frost won't be putting any more in.
If their PR releases and their SA articles could be believed then this story would have unfolded a long time ago.
Keep the dream going - me, I am back in the real world and do not believe any PR or SA stuff that comes out - look at the history and tell me really what you think. Deal in facts not dreams or fiction.
Four new holes and the lower zone story all over again.
Let reality thinking break out. Someone recently said that they think this will get a full listing this year - dream on.
I would buy back in at $0.20. Not at these pumped up levels.
Your $3.00 prediction could come true but the reasonable facts at the moment don't support anything but a $50M distressed buy out.
Good luck to you and all.
alot on gold prices for sure. No taper was and a debt ceiling fight could gold up ina hurry. I think the non taper was even bigger news than reported. sounds like they want much higher employmetn etc and to be frank, it just wont be there so fed stimulus is here for awhile. no rate changes by 2016? come on, inflation is a monster not wroth teasing... high gold? good results? could get a buck out of this. it is valued fair at this point. Idont agree its worht alot less. the location and the facility alone give this one an edge on most miners. I have been kinda negative o nthis for a while but im starting to turn abit, wont add soon but wont sell.
I have a $50M value on this - $0.20 is realistic - currently 100% over valued.
Four new holes and the "lower zone" story again.
Alfers just burns money - this is way off production because they have to find enough gold to economically produce. That $11M dilution won't last very long.