Non-binding term sheet with Sprott Resource Lending to provide a credit facility with a principal amount of up to $20 million. Sprott is a top top natural resource creditor and this route makes sense for shareholders. Great move, and coupled with the public raise will be enough to push Pershing towards production at Relief Canyon.
Bottom line, looks like this one is about to start moving. It’s taken a while, but when Alfers said he was waiting until the time is right (i.e. when it makes the most economic sense to start mining), seems he meant what he said. The time is right now. Gold is up, the industry is on the rebound and with one of the best AISC in the space, Pershing is finally going to start returning value to us shareholders.
It's been a long wait but will have been well worth it once the rest catch on!
