$PSGR Early Morning 8/18/2018 The days drag on WIT
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Posted On: 09/18/2018 10:07:36 AM
$PSGR Early Morning 8/18/2018 The days drag on WITHOUT any new Press Releases from Pershing Resources Company, Inc.
Investors may question IF any effort has been made by Pershing Resources to SUCCESSFULLY raise the REPORTED TEN MILLION DOLLARS for the funding of the two new locations in Nevada near Tonopah. So far, NOTHING has been reported by Pershing Resources.
How did Pershing Resources arrive at the TEN MILLION DOLLAR figure? IF an agreement was made between Pershing Resources and AGEI/Mr. McDowell, can investors assume that both parties had researched the cost of development & start-up? What type(s) of collateral will both parties offer to MAJOR lenders? Have COMPREHENSIVE ore samples been gathered and taken to CERTIFIED assay laboratories? Are these Nevada locations the main focus of Pershing Resources; what happened to the Arizona site near Kingman? Why has NOTHING been mentioned about the Marco project? Will the TEN MILLION DOLLARS ultimately be used to fund ALL locations for mine development and start-up?
Press Release Oct 3, 2017
Pershing Resources' CEO Steve Plumb said, "These results show good potential from the New Enterprise. We are accumulating data from a number of potential development sites on the property that we are considering for our bulk sampling program next year. Losing Duncan this year was a setback. However, we are focused on progress and, looking forward to beginning our Phase One Study, to be followed by our bulk sampling program in 2018."
Press Release June 20, 2018
Pershing Resources Company, Inc., (OTC PINK
SGR), is pleased to announce grab sample assay data and the issuance of a 43-101 technical report for its 100% owned New Enterprise Project located in the Maynard Mining District near Kingman, Arizona. The most important feature of this work is the newly identified potential for gold-copper porphyry mineralization within the Project area. Further exploration work is highly recommended, and the Project is considered to have an excellent potential to include a significant mineral resource.
Press Release July 10, 2018
The Company has issued a total of 13,770,000 restricted common shares to AGEI and a private partner as the transaction consideration for exclusive earn in rights on the West Bolo and Tonopah SIN Projects. AGEI will be the operator and manager of both projects. Pershing Resources has purchased the rights to earn-in up to 70% ownership of both projects over a five-year investment and development plan in which the Company will invest up to five million dollars in each project. The investment schedule for each project calls for a first-year investment of $250,000 and will follow a development plan with a budget that steps up incrementally as exploration and development activity increases each year. Pershing Resources will have oversight and right of review of all expenditures on the projects. The development and investment programs will culminate with the completion of a “bankable feasibility study” for each project by the end of 2024. Surface sampling, mapping, geophysical studies and eventual drill testing are planned for 2018 and 2019 on both projects. In addition, Don McDowell, President of AGEI, has stepped into a senior advisory role with the Company on exploration and project management matters.
OK....so what investors are faced with over the next SIX years (end of 2024) is the completion of a 'bankable feasibility study'. Unless I have misinterpreted the wording of the July 10, 2018 Press Release, there will be ZIP, ZERO, NADA actual mine start-up and production within the foreseeable future....only STUDIES. Once the initial STUDIES are complete, something MAY occur. Who knows???? Maybe there will be more studies of the studies before a recommendation is tabled to re-study the study of the studies. That should push the existence of Pershing Resources and its prior iterations well into 2025. Almost 30 Years without opening a precious metals mine and continuously producing anything but Press Releases. An excellent track record for a company that is alleged to be in the precious metals business!
I guess I will go back and study the studies of the previous studies that I studied to study whether I should study up for another Press Release from Pershing Resources and try to determine what the Press Release study means.
ACTIONS AND RESULS, NO MORE BS!!!!!
Investors may question IF any effort has been made by Pershing Resources to SUCCESSFULLY raise the REPORTED TEN MILLION DOLLARS for the funding of the two new locations in Nevada near Tonopah. So far, NOTHING has been reported by Pershing Resources.
How did Pershing Resources arrive at the TEN MILLION DOLLAR figure? IF an agreement was made between Pershing Resources and AGEI/Mr. McDowell, can investors assume that both parties had researched the cost of development & start-up? What type(s) of collateral will both parties offer to MAJOR lenders? Have COMPREHENSIVE ore samples been gathered and taken to CERTIFIED assay laboratories? Are these Nevada locations the main focus of Pershing Resources; what happened to the Arizona site near Kingman? Why has NOTHING been mentioned about the Marco project? Will the TEN MILLION DOLLARS ultimately be used to fund ALL locations for mine development and start-up?
Press Release Oct 3, 2017
Pershing Resources' CEO Steve Plumb said, "These results show good potential from the New Enterprise. We are accumulating data from a number of potential development sites on the property that we are considering for our bulk sampling program next year. Losing Duncan this year was a setback. However, we are focused on progress and, looking forward to beginning our Phase One Study, to be followed by our bulk sampling program in 2018."
Press Release June 20, 2018
Pershing Resources Company, Inc., (OTC PINK
SGR), is pleased to announce grab sample assay data and the issuance of a 43-101 technical report for its 100% owned New Enterprise Project located in the Maynard Mining District near Kingman, Arizona. The most important feature of this work is the newly identified potential for gold-copper porphyry mineralization within the Project area. Further exploration work is highly recommended, and the Project is considered to have an excellent potential to include a significant mineral resource. Press Release July 10, 2018
The Company has issued a total of 13,770,000 restricted common shares to AGEI and a private partner as the transaction consideration for exclusive earn in rights on the West Bolo and Tonopah SIN Projects. AGEI will be the operator and manager of both projects. Pershing Resources has purchased the rights to earn-in up to 70% ownership of both projects over a five-year investment and development plan in which the Company will invest up to five million dollars in each project. The investment schedule for each project calls for a first-year investment of $250,000 and will follow a development plan with a budget that steps up incrementally as exploration and development activity increases each year. Pershing Resources will have oversight and right of review of all expenditures on the projects. The development and investment programs will culminate with the completion of a “bankable feasibility study” for each project by the end of 2024. Surface sampling, mapping, geophysical studies and eventual drill testing are planned for 2018 and 2019 on both projects. In addition, Don McDowell, President of AGEI, has stepped into a senior advisory role with the Company on exploration and project management matters.
OK....so what investors are faced with over the next SIX years (end of 2024) is the completion of a 'bankable feasibility study'. Unless I have misinterpreted the wording of the July 10, 2018 Press Release, there will be ZIP, ZERO, NADA actual mine start-up and production within the foreseeable future....only STUDIES. Once the initial STUDIES are complete, something MAY occur. Who knows???? Maybe there will be more studies of the studies before a recommendation is tabled to re-study the study of the studies. That should push the existence of Pershing Resources and its prior iterations well into 2025. Almost 30 Years without opening a precious metals mine and continuously producing anything but Press Releases. An excellent track record for a company that is alleged to be in the precious metals business!
I guess I will go back and study the studies of the previous studies that I studied to study whether I should study up for another Press Release from Pershing Resources and try to determine what the Press Release study means.
ACTIONS AND RESULS, NO MORE BS!!!!!
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