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Pershing Acquisition Update and 2019 Guidance
On January 9, 2019, Americas Silver Corporation and Pershing Gold Corporation (“Pershing Gold”) announced their respective shareholders provided the requisite approvals for the previously announced business combination transaction (the “Transaction”) between the two companies. Completion of the Transaction remains subject to satisfaction or waiver of certain customary conditions, including the completion of review and approval by the Committee on Foreign Investment in the United States (“CFIUS”) (discussed in Americas Silver’s January 2, 2019 press release). All deadlines for declarations and transactions under review by CFIUS are currently tolled due to the lapse in appropriations attributable to the partial U.S. government shutdown.
In anticipation of the closing of the Transaction, discussions are proceeding well with parties interested in providing financing for the development of the Relief Canyon Mine. As a result of the delay in closing, the Company is assessing its 2019 guidance and intends to update the market upon completion of the Transaction.
Pershing Gold Catalyst Clip with VP of Investor Relations Jack Perkins at
the 2018 PDAC in Toronto -
Don’t have slightest idea how to interpret this transaction....
All I can say in regards to precious metals is I sold my ngd position last week at ~avg 1.10
I also sold my chk position....
Looking for repositioning in oil as we speak...starting to add back massive stake in shlx
USA-Pershing Investor Presentation (FINAL) -
http://www.pershinggold.com/Cache/1001243721.PDF?O=PDF&T=&Y=&D=&FID=1001243721&iid=4353299
https://www.americassilvercorp.com
http://www.pershinggold.com
God Bless America
AMERICAS SILVER AND PERSHING GOLD ANNOUNCE RESPECTIVE SHAREHOLDER APPROVALS FOR BUSINESS COMBINATION
TORONTO, ONTARIO - January 9, 2019 -
Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver” or the “Company”) and Pershing Gold Corporation (NASDAQ: PGLC) (TSX: PGLC) (FWB: 7PG1) (“Pershing Gold”) are pleased to announce that their respective shareholders have provided the requisite approvals in respect of the previously announced business combination transaction (the “Transaction”) between the two companies.
Americas Silver shareholders approved a special resolution to amend the Company’s articles of incorporation to create a new class of non-voting preferred shares, and an ordinary resolution to authorize the Transaction and issuance of shares thereunder, as described in the management information circular dated December 4, 2018. Pershing Gold shareholders voted at their meeting to approve the Transaction as well as other related resolutions described in its proxy statement filed with the U.S. Securities and Exchange Commission (“SEC”) on November 30, 2018.
“The Board of Directors and management teams of both companies are pleased that our shareholders overwhelmingly supported this Transaction and would like to thank them for their continuing support,” said Darren Blasutti, President and Chief Executive Officer of Americas Silver. “Today marks another important step forward toward our goal of creating a profitable, low-cost precious metal company. Upon closing of the Transaction, we will be focused on advancing the next phase of the combined company’s growth by financing and bringing the low-capital, high-return Relief Canyon Mine into production.”
Completion of the Transaction remains subject to satisfaction or waiver of certain customary conditions, including the completion of review and approval by the Committee on Foreign Investment in the United States (“CFIUS”) (discussed in Americas Silver’s January 2, 2019 press release). All deadlines for declarations and transactions under review by CFIUS are currently tolled due to the lapse in appropriations attributable to the partial U.S. government shutdown.
“We are pleased to announce the support of our shareholders for this transaction, which provides a clear path to the development of Relief Canyon into a producing gold mine,” said Steve Alfers, President and Chief Executive Officer of Pershing Gold. “I would like to thank the Pershing Gold Board of Directors, management and every one of our employees who have worked diligently over the past six years to successfully advance Relief Canyon to its current development-ready status.”
In anticipation of the closing of the Transaction, Americas Silver has been in discussions with several parties interested in providing financing for the development of the Relief Canyon Mine. The Company has advanced to a short list of potential parties and intends to announce its plans for financing the mine by the end of the first quarter of 2019 assuming the successful closing of the Transaction.
About Americas Silver Corporation
Americas Silver is a precious metal mining company focused on growth from its existing asset base and execution of targeted accretive acquisitions. It owns and operates the Cosalá Operations in Sinaloa, Mexico and the Galena Complex in Idaho, USA. Americas Silver holds an option on the San Felipe development project in Sonora, Mexico. For further information please see SEDAR or americassilvercorp.com.
About Pershing Gold
Pershing Gold Corporation is an emerging gold producer whose primary asset is the Relief Canyon open-pit gold mine in Pershing County, Nevada. Pershing Gold’s landholdings cover over 29,000 acres that include Relief Canyon Mine and surrounding lands in all directions. Pershing Gold is currently permitted to resume mining at Relief Canyon under the existing Plan of Operations.
https://www.americassilvercorp.com/news-releases/2019/americas-silver-and-pershing-gold-announce-respective-shareholder-approvals-for-business-combination/
https://ih.advfn.com/stock-market/TSX/USA/stock-news/79023927/americas-silver-and-pershing-gold-announce-respect
Alpha Capital fraudulent Martin Shlomo Schlaff and fraudulent Jesselsons, Honig, Maza
Stocks manipulation, stealing assets...
ILNS (HONIG,SCHLAFF,MAZA,JESSELSON,...)
MGTI
PTE
RIOT
BIOZONE
...............
https://www.haaretz.com/israel-news/.premium-interior-minister-dery-hasn-t-learned-from-the-past-1.6675204
https://en.globes.co.il/en/article-370042
https://www.haaretz.com/1.4711623
https://www.addendum.org/kern/schlaff-alpha-capital/
https://www.marketwatch.com/story/sec-charges-multiple-firms-individuals-with-microcap-fraud-schemes-including-barry-honig-2018-09-07
https://www.miaminewtimes.com/news/miami-billionaire-phillip-frost-sued-for-additonal-stock-fraud-10971262
Oh why oh why do you keep dropping???? This merger is still going through right?
October 11, 2018
Americas Silver Corporation Provides Updated Mineral Reserve and Resource Estimates
https://www.americassilvercorp.com/news-releases/2018/americas-silver-corporation-provides-updated-mineral-reserve-and-resource-estimates/
In addition to my previous post reply....
I know almost nobody talks about, but more importantly people don’t have insight to pres trump.
In my simplistic way - trump policies are “communistic “(my word choice is lack of better word/ vocabulary).
It’s a privatization through protectionism concept.
So what’s price of oil? Who cares? Why would they? Etc....
It’s possible to have good earnings, gold/ oil rise, and etf simultaneously.
It’s why the fed is going to raise....
Em rates are what?
And USA is what?
If all internal...remember....it’s all internal....
Under your implied ideology we would have a civil war before anything gets bad....if anything buy gold via foreign....anyways I asked people at crypto riot to tell me how to buy gold in theirs currency!
What would happen? Think about it...
Here is a random side note:
If you’re a local restaurant in a tourist town; what do you do?
Do advertise to the local or the visitor?
Duh!!!! And some people with millions of dollars don’t get it!
It’s not a what you want game
It’s who wants you
—combine that with privatization....
I think your early....how early I don’t know?
And yes it remains to be seen in a melt down where gold and crypto and etf correlate.
2 points :
1. I prefer what appears complicated (which I am not implying is always a goood thing); your thesis including “on and on” is ominous
2. Your right gold will be gold. How would you like to pay for it? “Wait, you mean I’m buying a rock?”
Crypto isn’t the new Gold. Crypto is a fad that Many lost their ass on. (Not saying Bitcoin won’t survive)
Gold will always be Gold. You cannot wear Crypto nor invest in it properly.
Gold is also used in other products and communist countries will never allow Crypto’s to survive either.
Your going to see a Major Move in Gold in 2019/2020 it’s coming.
Auto industry getting hammered
Interest rates sky rocketing
Yields sky rocketing
Gas going higher
Credit Card debt the highest in history
Sky Rocketing US deficit
A US dollar nearing a peek
A arrogant Fed
Wage growth not happening yet Unemployment at 60 year lows. Which leads to weaker earnings outlooks once wages do rise.
Ford announcing Major Layoffs. Wells Fargo Announcing Major Lay Offs.
FedEx missed earnings
Oracle Missed
Sears going Bankrupt because of its Pension Plan
Tesla is the Next Enron
I could go on and on forever.
Also we are hitting Peak Gold meaning the rate of finding it is lagging behind the rate of it being consumed.
Miners will be the Top Gainers in 2019/2020
You cannot ignore the obvious forever
The market participants are changing at rate faster than fathomed.
Their contributions we welcomed for liquidity.
But the market voted.
1. Crypto
2. Gold
3. ETF, etn
Ask these questions:
Who is participant? Why, etc...
Side Notes:
crypto is new gold and essentially transferable to the new “investor”
Gold is old, but is accepted amongst the dead...
ETF ; even the professionals don’t know what it is!!!
I’m waiting an “event” that I will recognize when I see it....
Oil is just soooo goood!
Remember data somehowe always proceeds theory. But in lively cases the theory preceded. The risk for those demand a premium....i didn’t get my premium here. But I’m still not even considering a position of the likes anywhere.
Before I get mistaken for someone who thinks and is certain they have great grasp on global economics: I do not.
Side note: oil only crosses $100 if inflation...change of wealth to other energy.
I am trying to branch out and broaden my horizon. I will have to grow my skill set and knowledge exponentially to make better investments especially when my capital expands. I can imagine continuing my success with significantly more capital.
Sometimes a different set of eyes can see other things within the same read....
I think you imply to many boxes checked automates a response....
IMO : For example: the brl is extremely undervalued at the moment (including current issues)
What is their interest rate.
Interest rates can also be used as a tool to contain while not restraining.
Another issue with gold ....
I love Oil too, but what happens when Oil hits $100 a barrel or $90+ doesn’t matter the exact dollar amount. It will start to Hit Consumers and businesses... Then you throw in Much higher Interest rates. Then that also hits consumers and you can already see in the housing market. All that happening while the dollar is even stronger and Gold yet still is hanging in there because Europe is a mess. So when Oil and Interest rates weight down the consumer and the Fed starts to slow rate hikes the dollar will then start to weaken and Gold will take off. There was already 2 Massive Future contract purchases in Silver and Gold this past week.
2019 going to be very interesting.
I can’t completely disagree with your points, but I do feel your not seeing everything.
M/A activity is case by case, not general. And in general I thinks it’s bad sign for short term guaranteed...
Over sold, maybe momentarily, it can go much further down imo.
I think gold is a loser short, mid and long term.
I’m an oil fan.
Short term oil, it’s most likely to continue and be coveted no matter market conditions within next year.
You could throw darts to pick 5 petro stocks and win no matter what happens....
Domestic Growth is good! Demand
Global growth is good! Demand
Inflation is good! Duh!
Worse case rally extends to blowoff top and a transfer of wealth from oil to other sources of energy...
Wow!
Go short right after when this happens.
I just don’t see anything good in gold other than a way to make more friends with those that agree.
I have not heard back from the companies, but ironically TD Ameritrade, where I have the stock has gotten back to me with the following:
Regarding your restricted shares of Pershing Gold and how that will be dealt with in the merger, short answer to that is, we don't know yet. When two companies merge they'll release information on the existing shares of a company, the two companies have not set the expectation for those restricted shares yet.
At this point I'd recommend reaching out to Pershing Gold's Investor Services department for further information, as if anyone were to have it at this point, they would.
So, I guess we will have to be patient for now.
I have the same question.
So, your message prompted me to email both companies seeking a response.
I would encourage all who have that concern to contact them too.
I wrote to the following three people,hoping one would respond.
Jack Perkins,VP, Investor Relations jperkins@pershinggold.com
Steve Alfers,Pres of Pershing Gold salfers@pershinggold.com
Darren Blasutti Pres of Americas Silver dblasutti@americassilvercorp.com
If I get a response I will post it here and hoping anyone else who finds out does the same.
Good luck to us.
Have pglc restricted stock.WILL I NOW BE ABLE TO TRADE THESE SHARES AFTER THE MERGER?PLEASE ADVISE IF ANYONE KNOWS.
Great to hear! I feel the Mining Sector is going to be the top Sector of 2019!
PGLC
I agree, good deal for Pershing. Glad I bought some shares at $0.90, my avarage is now $1.70. In yesterdays conference call new management indicated that the plan is to have the financing done for the Relief Canyon mine in the next 2-4 months. They seem to have good contacts as they have just recently put a mine into production (below estimated costs!). The new managment sounds very straightforward and competent imo.
The Mining Sector is on of the most oversold sectors out there and is starting to garner serious attention and is in a perfect set up heading into 2019. The M/A’s taking place are great for the sector. Gold is having its best day in a long time today up $17 a OZ. Does it hold I have no idea but Gold is going to enter a Bull run in 2019. There is so many warning signs out there that is going to drive this economy down starting with that Arrogant Fed Jerome Powell.
Huh? You’d have to be a very short term long to have participated in any profits.
What did you read? I couldn’t access filing at first and haven’t reviewed it...
Mining sector? What do you like about?
I think gold is headed to sub 900....
The m/a activity is a path to my intuition ....
Congrats Longs. Seems like a awesome Merger from what i am reading. Loving the Mining Sector Activity and M/A’s
PGLC
I underestimated something here....
Now, what is it I underestimated?
——
Transparency .....lol
I only know one person that good! And they supposedly havent talked to me in years?
Had to sell today. The lack of liquidity, the fact i was early (in all aspects), and fact that great opportunities should last this long.
Bought small here today as well. Honig is a piece of work, but the price prior to the news around him was already bottom. We provided an exceptional opportunity imo.
banski- Honig won't liquidate his $2/sh stock
On the contrary, he already knew the SEC thing is coming
up (see the timeline as posted).
What did he do?
He bought more and resigned from BOD.
Na, this is sort of 'his honest baby'
and the usual suspects are not all in here.
SEC litigation would take years, so they all probably will settle here - get their wrist slap, pay the fine for manipulating all the other stocks and that's it. Sure, they will also being blocked from executive positions.
Doesn't really matter to PGLC.
Good thing is, PGLC bought the royalty rights back, upcoming drilling results and the phase-2 permission has been filed.
In short: They are getting ready for a M&A activity.
This is the only reason which comes to mind why Honig loaded up that much lately.
The other 'Honig Stocks', well .. they do have more serious troubles. Analysis shows that PGLC never really got a pump, as one can see on the chart. So this one must be serious (o8>
Very good DD. Thank you for doing all that legwork and putting it out there for us all. What a mess this all could be.
What do you think will happen to all his shares he still has.
SEC lock-up not able to sell any? Or have to liquidate quickly?
It will take awhile but he’s prob gonna be barred from all trading.
Honig case unrelated to PGLC https://www.prnewswire.com/news-releases/pershing-gold-comments-on-former-director-300709911.html
And then, of course Honig and Co gets wrist slapped and pay their fine when this case is resolved in 3 years or they simply make a settlement.
PGLC? Very much unrelated - but well, he bought more above market price while knowing the SEC is about do their thing (o8>
- $1.64/sh avg purchase price July - Aug
- $2.88/sh NPV-5% @ 34M OS and $1150/oz
Good luck, but I would not short this one.
IMHO great candidates are the other stocks listened in the complaint - besides: COOL MARA RIOT COCP MGTI MBVX, maybe OPK
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143464353
Honig will be in prison for a long time
PGLC Catalysts and Honig Purchases (Update)
What do they have coming up as catalysts?
- Permission as filed in June
- Result from the recent drillings
Events?
- 2018-08-28 33.629M OS
- 2018-08-28 Honig buys 1.88M shares from Levon @ $2.05/sh
-- https://levon.com/news/levon-resources-announces-sale-of-pershing-gold-corporation-shares/
-- https://finance.yahoo.com/news/pershing-acquisition-early-warning-news-011838928.html
- 2018-08-28 Honig has his 42.46% 14.28M shares, July-Aug $1.64/sh purchases:
-- https://www.sec.gov/Archives/edgar/data/1373203/000114420418047375/tv502089_sc13d-a.htm
- 2018-08-29 Honig resigns from BOD to reduce harm to the company we guess https://www.sec.gov/Archives/edgar/data/1432196/000114420418047627/tv502178_8k.htm
- 2018-08-31 Honig registers/sells 9.66% or 1.38M shares via GRQ: 42.46% 14.28M -> 38.36% 12.9M
-- https://www.sec.gov/Archives/edgar/data/1432196/000114420418047424/tv502117_424b3.htm#a_013
- 2018-09-07 SEC investigation into several Honig related plays, PGLC is not in the list https://www.sec.gov/news/press-release/2018-182
Very interesting..
The purchase from Levon is probably partially within the SC13D filing, marked as private transaction (1) and (2) closed 8/28.
The overall average purchase price as shown in SC13D is $1.64/sh.
Need to DD this more, now at 80c or 36% below $1.25 previous ownership floor.
PGLC a valid Honig play for a change?
What do they have coming up as catalysts?
- Permission as filed in June
- Result from the recent drillings
Events?
- 2018-08-28 33.629M OS
- 2018-08-28 Honig has his 42.46% 14.28M shares ownership: https://www.sec.gov/Archives/edgar/data/1373203/000114420418047375/tv502089_sc13d-a.htm
- 2018-08-28 Honig buys 1.88M shares from Levon @ $2.05/sh effectively
-- https://levon.com/news/levon-resources-announces-sale-of-pershing-gold-corporation-shares/
-- https://finance.yahoo.com/news/pershing-acquisition-early-warning-news-011838928.html
- 2018-08-29 Honig resigns from BOD to reduce harm to the company we guess https://www.sec.gov/Archives/edgar/data/1432196/000114420418047627/tv502178_8k.htm
- 2018-08-31 Honig registers/sells 9.66% or 1.38M shares via GRQ: 42.46% 14.28M -> 38.36% 12.9M https://www.sec.gov/Archives/edgar/data/1432196/000114420418047424/tv502117_424b3.htm#a_013
- 2018-09-07 SEC investigation into several Honig related plays, PGLC is not in the list https://www.sec.gov/news/press-release/2018-182
Very interesting..
The purchase from Levon is after the SC13D filing it seems.
Need to DD this more, now at 80c or 36% below $1.25 previous ownership floor.
Probably the only honest Honig play, nice (o8>
COOL, MARA, RIOT, OPK, COCP, MGTI and MBVX are not so 'innocent'.
PGLC on the other hand did quite nothing lol.
May follow a BTFD later on, friend already took a first slice.
What do they have coming up as catalysts?
- Permission as filed in June
- Result from the recent drillings
What else?
- 33.629M OS
- Honig has his 42.46% 14.28M shares ownership: https://www.sec.gov/Archives/edgar/data/1373203/000114420418047375/tv502089_sc13d-a.htm
- Honig sells 9.66% or 1.38M shares via GRQ: 42.46% 14.28M -> 38.36% 12.9M https://www.sec.gov/Archives/edgar/data/1432196/000114420418047424/tv502117_424b3.htm#a_013
- Honig resigns from BOD to reduce harm to the company we guess https://www.sec.gov/Archives/edgar/data/1432196/000114420418047627/tv502178_8k.htm
Very interesting (o8>
and resigned from BOD
to not harm.
Dunno when 'they' get in here. On close watchlist now.