Pershing Resources Files Fourth Quarter Financials With OTC
The Company Makes Progress as Board Members and Insiders Continued to Invest in 2015
Reno, NV, February 9, 2016 (Newswire.com) - Pershing Resources Company (OTC PINK: PSGR) filed a fourth quarter financial statement with OTC. The Company’s financial statement is available for review on its OTC listing site http://www.otcmarkets.com/stock/PSGR/filings, as well as on the company's website at, http://ir.pershingpm.com/otc-filings. The statement primarily reflects continued investment in the Company by the board members and insiders. The Company continues to make progress and hopes to report modest revenue in the near term.
Steve Plumb, CEO of Pershing Resources, said, "2015 saw significant advancements for the company. We have expanded from one property to a portfolio of three and, will look to add to the portfolio as opportunities arise. We have established a lab and pilot mill facility near Kingman Arizona and continue with in house development work. Our board along with several large shareholders have been engaged and financially supportive as we have progressed through this period of development and remain so. We continue to work towards production capability even as market conditions have been challenging. Our intent is to move forward with expansion and strengthening of our balance sheet in 2016.
Mr. Plumb continued, "Having renewed our claims in Nevada and Arizona we are committed to pursuing production on our projects. Our technical focus remains on finding the most efficient and economical means of milling and extraction. The ultrasonic technology (sonication) we have been working with, while still promising, will need further refinement and investment. As such, we have built and begun working with an elutriation pilot unit alongside our sonication unit. Elutriation is a conventional and non-toxic extraction method that will be more expeditious for our immediate purpose of pilot production. We continue to test ore and, our goal remains to begin circuit production with margins adequate to maintain a profitable operation even in the most adverse market conditions. We are aware that shareholders are eager for details on our progress and we will provide updates as warranted. We encourage shareholders to refer to our website for updates and more detailed information on our projects. As always, the Company appreciates feedback from shareholders and welcomes your comments and suggestions on all aspects of our operations."
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Safe Harbor Statement
The information contained in this press release as well as the information on the discussed website is provided solely for the reader's general knowledge. The information contained herein is not intended to be a comprehensive review of all matters pertaining to Pershing Resources Company. Potential investors should be aware that certain statements included herein constitute " forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results , performance and/or achievements of Pershing Resources Company or of the gold mining industry to be materially different from future results, performance and/or achievements expressed or implied by those forward looking statements. These risks, uncertainties and other factors include, but are not limited to, changes in the worldwide price of gold or certain other commodities and currencies and the risks involved in the exploration, development and the mining business in general.
About Pershing Resources
Pershing Resources Company is a development stage precious metals producer, focused on precious metal ores and mining projects located primarily in Nevada and Arizona. The Company is based in Reno, Nevada and, has established a pilot mill and development facility near Kingman, Arizona.
Our strategy is built on three basic components. First, is the acquisition of U.S. domestic properties near established precious metal mines. Second, is the development of projects with high tonnage and commercially viable grades of precious metals with proximity to historical occurrences. Third is a focus on the application of leading edge technologies to develop highly efficient and environmentally favorable extraction processes. This three-tier strategy supports our short and long term goals of profitability and growing shareholder value through expansion. Supplemental to our overall strategy and to achieve our goals, we are focused on five key attributes. Those being; the pursuit of quality growth, maintaining low cash costs, prudent financing and fiduciary practices, establishing and building a strong balance sheet and conducting business in a responsible manner.
The Company's current assets are comprised of three properties with projects currently in progress. The largest being a 1,100 acre site near Lovelock, Nevada known as the Marco Project. The Marco Claims were acquired in 2004. Two additional projects were acquired in 2015. The New Enterprise Project totals 160 acres near Kingman, Arizona. The Gold Lake Project is a forty acre site, also near Kingman, Arizona.
All of the properties mentioned have been previously mined and more recently re-assayed and explored for target areas for new mining. The Company is presently in various stages of exploration, planning and pre-production on each these properties. Pershing Resources is committed to responsible mining practices and, is well positioned to deliver sustained growth and performance for years to come.
Pershing Resources Company
200 South Virginia Street, 8th Floor
Reno, NV 89501
Source: Pershing Resources Company, Inc.