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Form 4 Filing Tonight: Director Buys Another $5M

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rtraster   Tuesday, 05/10/16 08:28:33 PM
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Form 4 Filing Tonight: Director Buys Another $5M
Pershing Gold Director bought another $5M worth of stock recently, as reported today post-market at the SEC website. He now owns 2,579,435 shares.
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001432196

Donald Smith & Co. also participated in follow-on financing, as filings show today.

Recall Pershing Gold's PEA is due to be released by the end of the quarter. With gold's recent rally, and the demonstrably low all-in operating costs at Pershing Gold, it makes sense why these guys are buying. It's a NI 43-101 and PEA-backed gold mine where they can buy gold $300-400 cheaper than current market prices.

If you're going to invest in gold, why not buy shares of PGLC? This mine will be operational within a year, and you're better off here than even physical gold, in my opinion. So much cheaper to buy PGLC shares... you get 25% or more off the price of physical gold.

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