Big picture - Why invest in Pershing Gold
Pershing Gold Snapshot
Pershing Gold Corporation (Pershing Gold) is an emerging Nevada gold producer uniquely positioned to create shareholder value by fast-track reopening of 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.
Nevada has the second largest gold reserves in the world. It has 23 major gold mines, produces five million ounces of gold annually, and has produced more than 152 million gold ounces since 1835. Nevada has a stable tax regime, robust legal framework, streamlined permitting process, nearby infrastructure and unparalleled access to qualified labor. It is ranked by the Fraser Institute as the second most mining friendly jurisdiction in the world.
Relief Canyon Mine and Processing Facility
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.
Preliminary Economic Assessment
In June of 2015, Mine Development Associates of Reno, Nevada complete a Preliminary Economic Assessment (“PEA”) on the Relief Canyon Mine. The PEA uses approximate three-year average prices of $1,250 per ounce of gold and $17 per ounce of silver. The PEA evaluates the economics of two alternative mining scenarios: first, self mining by Pershing Gold with its own manpower and equipment, and second, mining through mine contractors who supply the manpower and equipment to deliver material to the Company’s processing facilities. Highlights from the PEA are listed below in Table 1 and Table 2.
Table 1: Relief Canyon PEA Highlights
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To view Technical reports please click here
Executive Chairman, President and Chief Executive Officer
Steve Alfers has a distinguished thirty year career in the domestic and international natural resources industry. He has a proven success record in building value and maximizing growth. Mr. Alfers has extensive experience in private and public corporate finance, mergers and acquisitions, complex international business transactions and governmental affairs. He is nationally and internationally recognized for his expertise in natural resource development, privatization of state owned enterprises and foreign investment. Mr. Alfers is a results driven leader, committed to increasing shareholder value through disciplined management and integrity.
Senior Vice President
Ms. Struhsacker has over 25 years of expertise with the key environmental, public land, political, and stakeholder issues pertaining to mineral exploration and mine development. She is well known as an effective mining industry advocate with a proven track record of successfully permitting mineral exploration and mining projects. Among her many professional accomplishments, she played a key role in the fast-track permitting of Franco-Nevada's Ken Snyder Mine (now Newmont's Midas Mine) in Elko County, Nevada; Kinross' Buckhorn Mine in Okanogan County, Washington; and the exploration and discovery phases of Fronteer Development USA Inc.'s (now Newmont's) Long Canyon Project in Elko County, Nevada.
Chief Operating Officer
Janke is a seasoned mining professional with nearly four decades experience in mining engineering and operations and a proven track record in leading teams to succeed in mine startups. He was formerly COO for AuEx Ventures, Inc. where he was responsible for operations planning and development of the Long Canyon Project. His extensive Nevada operational experience includes holding the position of General Manager at the Marigold, Florida Canyon, Ruby Hill, and Pinson mines as well as Special Projects Engineer at the Round Mountain Mine.
Through his extensive work history Janke and his teams have received multiple awards and accolades including the world's first International Cyanide Code Certification, Nevada Mining Association safety awards in 2001 and 2007 and State of Nevada Excellence in Mine Reclamation awards in 2000 and 2007. While managing the operation of the Pinson Mine in Winnemucca, NV he eliminated over half of the $12 million closure reclamation liability while operating without a lost-time accident ("LTA"). While at the Ruby Hill Mine he led his team to three consecutive annual records for gold production and reduced cash costs. During his time at Marigold his team made processing improvements resulting in a 4% increase in gold recoveries and his workforce achieved two and a half years without any LTAs.
Janke holds a Bachelor of Science in Mining Engineering from the Mackay School of Mines. He served as a Director on the boards of Strathmore Minerals Corp. and the Nevada Mining Association and is currently a Director on the board of Renaissance Gold, Inc.
Vice President and General Manager, Relief Canyon Mine
Moore is a seasoned mining professional with over 27 years of experience in mining engineering and operations. During his career, he has held leadership positions in Nevada for Pegasus Gold Corp. at the Florida Canyon Mine, which is located near Relief Canyon, and also for; Cortez Gold Mine, Round Mountain Gold Corp., Kinross Gold Corp., and Allied Nevada Gold Corporation. A native Nevadan, Moore has a B.Sc. in Mining Engineering from the highly regarded Mackay School of Mines/University of Nevada, and is a Nevada Registered Professional Engineer.
Vice President Finance and Controller
Mr. Alexander became PGC’s Vice President Finance and Controller in September 2012. In November 2012 he was appointed Principal Financial Officer, Principal Accounting Officer and Treasurer of PGC. Prior to joining Pershing Gold Corporation, he was the Corporate Controller for Sunshine Silver Mines Corporation, a privately held mining company with exploration and pre-development properties in Idaho and Mexico. He was also the Corporate Controller for Golden Minerals Company (successor to Apex Silver Mines Limited), a US and Canadian publicly traded international mining company with operations and exploration activities in South America and Mexico. In addition to working in industry he also held the position of Senior Manager with the public accounting firm KPMG LLP, focusing on mining and energy clients. He has over 23 years of corporate, operational and business experience. Mr. Alexander has a B.S. in Business Administration (concentrations in Accounting and Finance) from the State University of New York at Buffalo and is also a licensed CPA.
Vice President Exploration and Development
Mr. Hillesland became PGC’s Vice President of Exploration and Development in February 2012. With over 30 years of experience, Mr. Hillesland has played a key role in the discovery of several gold systems (McDonald Meadows/Keep Cool in Montana and Nixon Fork in Alaska, Candamena in northern Mexico, and adding indicated ounces to Kinross’ Kupol Project in Russia). He also defined the 1 billion pound leachable copper deposit at Hanover Mountain in New Mexico. Mr. Hillesland has a B.S. in Geology from the University of Idaho and a Master’s degree from Oregon State University.
Executive Administrator and Corporate Secretary
Ms. Germann became PGC’s Executive Administrator in February 2012 and PGC’s Corporate Secretary in March 2012. With over 25-years of experience, Ms. Germann has provided extensive C-Level executive support as well as management support for numerous Chief Executive Officers and multiple Boards of Directors (DigitalGlobe, Inc., MolsonCoors Brewing Company, and Einstein Noah Restaurant Group). Ms. Germann also served as Paralegal and Closing Team Specialist for the Merger & Acquisitions practice groups of several nationally known law firms (Hogan & Hartson LLP; Parcel, Mauro, Hultin & Spaanstra, P.C., and Holme Roberts and Owen LLP). Ms. Germann has a Paralegal Certificate from the University of Colorado at Denver.
Vice President, Investor Relations
Jack Perkins, Vice President of Investor Relations, joined Pershing Gold in November 2013. Perkins was formerly the Director of Investor Relations for International Royalty Corporation (“IRC”). While at IRC he developed and managed the Investor Relations program through such pivotal events as its initial public offering on the Toronto Stock Exchange for $192 million, cross listing on the American Stock Exchange , the market crash of October 2008, financings of $65.5 and $54.1 million and the eventual acquisition of IRC by Royal Gold for $750 million. Prior to joining IRC he was Director of Business Development for a private company engaged in management consulting for such firms as Boeing Aerospace, Ball Aerospace and the Los Alamos National Laboratory. Perkins has over ten-years experience in the mining industry and more than 15-years experience working with entrepreneurially focused companies in the public and private space. He has a B.A. in Philosophy from George Mason University and a MBA from the University of Denver.