The fact that the company is pretty much permitted right to production is a very strong selling point. We’re expecting some pretty low costs. We’re estimating somewhere between 800 – 900 an ounce on an all in sustained basis. Because of all those reasons we’re pretty bullish on Pershing. It’s only going to cost about 25 million in Capex which is very low when you consider it next to other mining projects.
Pershing Gold Corporation is an emerging Nevada gold producer uniquely positioned to create shareholder value by reopening the Relief Canyon Mine. Pershing Gold’s strategy to create shareholder value has four elements:
- Advance the Relief Canyon Mine to commercial production.
- Continue expanding the Relief Canyon deposit through development drilling.
- Explore ~25,000 acre land position to discover and develop additional gold deposits.
- Create value through strategic transactions
Pershing Gold is an emerging gold producer whose primary asset is the Relief Canyon Mine in Pershing County, Nevada. Relief Canyon includes three open-pit mines, expanding adjacent open-pit-able gold deposits, 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.
The plant has the capacity to process gold bearing solutions from the leaching of 8 million tons of ore per year. The leach pad is now permitted to hold 21 million tons and can be readily expanded. The facility is ideally situated to process ore from future discoveries of satellite deposits.
Relief Canyon is situated at the southern edge of the Pershing Gold and Silver trend along the Humbolt Range. It is approximately 95 miles northeast of Reno, Nevada. Electricity is available on the property, and water is available from two wells located east of the processing plant. The City of Lovelock, where Pershing Gold has it’s Nevada offices, is located approximately 19 miles by road west-southwest of Relief Canyon.
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