$PGLC Pershing Gold Corp. (NASDAQ: PGLC)
Pershing is a $75 million company with one project: the Relief Canyon Mine in Northwest Nevada.
The Relief Canyon Mine property includes three open-pit mines (North Pit, South Pit, Light Bulb), as well as a state-of-the-art, fully permitted and constructed heap-leach processing facility.
According to CEO Steve Alfers, that economic report will show production costs of between $600 and $800 per ounce. Alfers also says production will average 84,000 ounces per year over the mine's lifespan.
The only thing left to do is start production. That, the company says, will likely happen in the next few months.
Pershing has no debt and roughly $13 million of cash on hand, having recently completed an $11.5 million raise. There is a small possibility that the mine's opening could be delayed. There is also an equally small opporunity that a larger competitor will acquire it.
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