Pershing Gold (NASDAQ: $PGLC) (TSX:
$PGLC.TO) New Website Showcases Preliminary Feasibility Study (PFS) for the Company's Relief Canyon Gold Mine
Point Roberts, WA, Delta
BC –August 17, 2017 (www.investorideas.com newswire) Investorideas.com,
a global news source covering leading sectors including mining stocks announces
Pershing Gold Corporation (NASDAQ:PGLC) (TSX:PGLC) (FWB:7PG1),an emerging Nevada gold producer has launched a new
website www.PershingGold.com to
showcase the robust economics evidenced in the recently released PFS for the Company's
Relief Canyon Gold Mine.
Additionally the company website features
the June investor presentation at:
Table
1: Relief Canyon PFS Highlights
|
PEA
|
PFS
|
Company Model
|
Life of mine (“LOM”)
|
5.8 years
|
5.6 years
|
5.6 years
|
Average LOM production
|
88,500 oz Au/year
|
93,900 oz Au/year
|
97,100 oz Au/year
|
Cash Cost
|
$772/oz Au
|
$770/oz Au
|
$769/oz Au
|
All in Sustaining Cost
(“AISC”)
|
$804/oz Au
|
$802/oz Au
|
$801/oz Au
|
Initial capital expenditure
(“CAPEX”)
|
$12.2 million
|
$23.6 million
|
$23.6 million
|
Sustaining CAPEX
|
$16.6 million
|
$22.8 million
|
$22.8 million
|
Pre-tax Net Present Value
(“NPV”), 5%
|
$159 million
|
$145 million
|
$151 million
|
Pre-tax Internal Rate of
Return (“IRR”)
|
125%
|
89%
|
91%
|
Pre-tax Net Cash Flow
|
$206 million
|
$192.7 million
|
$201 million
|
After-tax NPV, 5%
|
$121 million
|
$126 million
|
$131 million
|
After-tax IRR
|
109%
|
85%
|
87%
|
After-tax Net Cash Flow
|
$157.6 million
|
$167.7 million
|
$174.1 million
|
Table
2: PFS Gold Price Sensitivity Analysis, Before Tax
Gold Price / oz Au
|
PFS Plan NPV, 5%
|
PFS IRR
|
Company Plan NPV, 5%
|
Company Plan IRR
|
$1,450
|
$226 million
|
140%
|
$232 million
|
141%
|
$1,400
|
$206 million
|
127%
|
$212 million
|
129%
|
$1,350
|
$185 million
|
114%
|
$192 million
|
116%
|
$1,300
|
$165 million
|
102%
|
$171 million
|
103%
|
$1,250
|
$145 million
|
89%
|
$151 million
|
91%
|
$1,200
|
$124 million
|
77%
|
$131 million
|
79%
|
$1,150
|
$104 million
|
65%
|
$110 million
|
67%
|
$1,100
|
$84 million
|
53%
|
$90 million
|
55%
|
Pershing Gold is an emerging gold producer
whose primary asset is the Relief Canyon Mine in Pershing County, Nevada.
Relief Canyon includes three historic open-pit mines and a state-of-the-art, fully
permitted and constructed heap-leach processing facility. Pershing Gold is
currently permitted to resume mining at Relief Canyon under the existing Plan
of Operations.
Pershing Gold's landholdings cover
approximately 25,000 acres that include the Relief Canyon Mine asset and lands
surrounding the mine in all directions. This land package provides Pershing
Gold with the opportunity to expand the Relief Canyon Mine deposit and to
explore and make new discoveries on nearby lands.
Pershing Gold Corporation (NASDAQ:PGLC) (TSX: PGLC) is a
featured mining company on Investorideas.com: Visit company profile http://www.investorideas.com/CO/PGLC/
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