Pershing Gold Corp fka PGLC

[Talldude]

Newbies:"Mineralized_Material".does.NOT=MINERAL.RESERVES;and.are.NON-economic.til.moved.N2.Mineral.Reserves.category!!

In otherwords, "movement" between categories is a specific protocol which must be adhered to by reporting companies who meet specific milestones before categories can be moved up into (or in some instances moved down into) NI 43-101 categories.

In order of "believeablility, and reliability, the NI 43-101 categories in Press Releases from companies using the Canadian Reporting standards ( N 43-101) are:

Proven
Probable
Measured
Indicated
Inferred

A careful reader, performing quality due diligence probably knows this. A newbie introduced into this PGLC story courtesy of the recent Motley Fool pump by Peter Epstein mouthpiece, MOST LIKELY DOESN"T KNOW THE DIFFERENCE BETWEEN CATEGORIES listed in reverse order above (lowest value on the bottom.)

A careful reader, a knowledgeable reader, an experienced Canadian penny stock/natural resource speculator (investor???) reader DOES!

Remember:
Mineral Resources are not Mineral Reserves.

-----Mineral Resources do not have demonstrated economic viability
and may (end up) never being converted into Mineral Reserves.

THE FOLLOWING IS AN EXACT QUOTE from the PGLC 3.31.2014 Resource Update Press Release:regarding:

"..........upated in-house calculation of mineralized material.... PGLC 3.31.2014 PR

blah blah blah"

Read the PR for yourself, and understand, NEWBIES and dreamweaver speckies alike!

http://ir.stockpr.com/pershinggold/press-releases/detail/534/pershing-gold-increases-mineralized-material-and-gold-resource-estimate-at-relief-canyon

Part of the Reason PEA's are so informative is that NI 43-101 reporting standards ALLOWS mention of the last and lowest category INFERRED to be used in financial calculations to be considered by those interest in speculating (investing?) in a mineral resource company.

In the reporting level known as Feasibility Study, INFERRED ARE NOT PERMITTED TO BE "counted."

Just stuff to know --for NEWBIES and refresher for Old-Salts-- in this speckie space, fervently hoping for PGLC fireworks in the not too distant future on this 4th July holiday.