... "Management is focused on advancing Pershing Gold to the production phase by utilizing the recently modernized processing facility to process the ore from the open pits at Relief Canyon mine. The preliminary economic assessment for the project is expected to be commissioned in early 2013. In addition, management is optimistic about being able to upgrade and expand the estimated gold resource. Since August 2011, exploration campaigns have been conducted to confirm and expand the estimated resource both in-and-around the Relief Canyon mine and at multiple anomalies targeted by geophysical surveys. Finally, management continues to be vigilant in looking for opportunities to further consolidate mining claims in the southern portion of the Humboldt Mountain Range through strategic acquisitions.
Management has cited that the development of the Relief Canyon mine and its surrounding mineral claims is emulating the advancement achieved by Allied Nevada in the redevelopment of the Hycroft mine. We find the unique circumstances and the focused redevelopment of the Relief Canyon mine of Pershing Gold to be intriguing, and we are closely monitoring the progress of the company, especially the expected milestone achievements of the completion of an updated NI 43-101-compliant resource and the re-initiation of gold production." ...
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