I’m sifting through the gold and silver etfs for some hidden treasure:
- A small-cap precious metals mining company
- NOT in the top holdings of GDX, GDXJ, or SILJ
- With large insider buying
- And releasing earnings soon
Pershing Gold (NASDAQ: PGLC) fits the above requirements:
- Small-cap mining company: $114.3Mil
- Insider buying: Large buys in May and June, and this recent, but small buy: 2,500 share dates 10/19 at $4.27 by Douglass Barr, Director of Pershing Gold.
- Earnings: 11/11/2016
The insider buys right before earnings indicate a good buying opportunity… after all, the insiders KNOW what’s going on with their company. When they buy, take notice.
But is it interesting enough to throw down some green for some gold?
Pershing Gold Corporation (Pershing Gold) is an emerging Nevada gold producer uniquely positioned to create shareholder value by fast-track reopening of the Relief Canyon Mine. Pershing Gold’s strategy to create shareholder value has four elements:
- Advance the Relief Canyon Mine to commercial production.
- Continue expanding the Relief Canyon deposit through development drilling.
- Explore ~25,000 acre land position to discover and develop additional gold deposits.
- Create value through strategic transactions.
The Relief Canyon Mine property includes three open-pit mines and a state-of-the-art, fully permitted and constructed heap leach processing facility. These assets present Pershing Gold with a unique opportunity to capitalize upon the synergies of an existing processing facility adjacent to a mine that has additional resources to achieve a fast-track path to production at the Relief Canyon Mine.
Selected slides from October presentation: Highlights
- VERY low AISC, especially for a Junior
- Safe mining jurisdiction with great infrastructure
- Adjacent to processing facility
- Significant exploration opportunity
- Potential for re-rating
- RISK: LOW MINE-LIFE: ONLY 5.8 years (before re-rating and fast-track reopening)
- 52.5% of shares are held by insider and institutional investors