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Posted On: 04/01/2020 12:06:17 AM
Post# of 1538
$PSGR Just to give a little perspective of how much GOLD would need to be mined to have the share price reach $1.00 based upon the published number of shares still out there:
There are 282,737,619 (common shares still 'out there')
Assume a sell price for GOLD at $1600.00/ounce
Pershing Resources Company, Inc. would need to mine, process, and sell 176,711 Ounces of GOLD to get to the $1.00/share value BUT there are many more COMMON shares that are owned; I believe somewhere in the 500 MILLION range total. There goes that $1.00/share value downward. In 2019 the TOTAL AMOUNT of GOLD mined in NEVADA was about 1.5 Million ounces just to place the potential amount needed for PSGR to be viable
So...are share holders betting the share price will reach a DIME to be satisfied? I am curious how anyone is seeing the long term profit on a company that has produced nothing for TWENTY PLUS YEARS.
There are 282,737,619 (common shares still 'out there')
Assume a sell price for GOLD at $1600.00/ounce
Pershing Resources Company, Inc. would need to mine, process, and sell 176,711 Ounces of GOLD to get to the $1.00/share value BUT there are many more COMMON shares that are owned; I believe somewhere in the 500 MILLION range total. There goes that $1.00/share value downward. In 2019 the TOTAL AMOUNT of GOLD mined in NEVADA was about 1.5 Million ounces just to place the potential amount needed for PSGR to be viable
So...are share holders betting the share price will reach a DIME to be satisfied? I am curious how anyone is seeing the long term profit on a company that has produced nothing for TWENTY PLUS YEARS.
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