Company released the long-awaited pre-feasibility study for its Relief Canyon Mine. The preparation of the PFS took longer than expected, and it was released several months later, compared to some of the original projections. But this milestone was finally reached, and Pershing Gold can focus on other steps on its way to first gold pour. Although some of the results presented by the PFS are worse compared to the PEA, the PFS confirms the viability of the project. However, I must admit that I am a little disappointed by the notable growth of estimated capex.

What is important, Pershing Gold was able to convert a better part of its resources into reserves. According to the PFS, the Relief Canyon contains measured and indicated resources of 789,000 toz gold, at a gold grade of 0.651 g/t and inferred resources of 45,200 toz gold, at a gold grade of 0.308 g/t. The resources include also proven and probable reserves of 634,900 toz gold, at a gold grade of 0.719 g/t. Besides gold, there are also silver reserves of 1.63 million toz, at a silver grade of 3.87 g/t.

Pershing Gold: 1 Step Closer To Production https://seekingalpha.com/article/4079763-pers...production

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