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Pglc new york_102713 Presentation Transcript

  • 1. Pershing Gold: An Emerging Nevada Producer Fast-Tracked to Resume Production Relief Canyon Mine October 2013 1
  • 2. Forward-looking Statements Cautionary Note Regarding Forward Looking Statements: Statements made regarding matters which are not historical facts, such as the Company’s strategy to create shareholder value, its plans to expand and upgrade the Relief Canyon resource, fast-track Relief Canyon to production and cash flow and explore and acquire additional properties; the Company’s risk profile and Company valuation and interpretations and estimates of resources and geologic potential are “forward looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated, or implied including delays in plant recommissioning, operating problems or accidents, permitting problems or delays; metals price volatility, lower metals prices than anticipated and their impact on the achievement of cash flow; operating, exploration and development risks and results; changes in interpretation of geologic information; world economic and capital markets conditions; inability to raise sufficient external financing and other risks identified in our most recent Annual Report on Form 10-K and other SEC filings. Cautionary Note to United States Investors Regarding Estimates of Measured, Indicated and Inferred Resources: We use certain terms in this presentation, such as “measured”, “indicated” and “inferred resources”, that are defined in Canadian National Instrument 43-101; however these terms are not recognized under the U.S. SEC Industry Guide 7.  US investors are cautioned not to assume that any or all of measured, indicated or inferred resources are economically or legally mineable or that these resources will ever be converted into reserves.  “Inferred  mineral resources“ have a high degree of uncertainty as to their existence and it cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category.  U.S. investors are urged to consider closely the disclosure in our Form 10-K and other SEC filings.  You can review and obtain copies of these filings from the SEC’s website at http:www.sec.gov/edgar.shtml. 2
  • 3. Pershing Gold’s Relief Canyon Mine is Situated in a Known Gold and Silver Trend 3
  • 4. Expert Technical Team Senior-level expertise in geology, engineering and metallurgy •  Doug Prihar – Manager of Exploration •  Robert Casaceli – Senior Geologist & Geophysicist •  Pete Dilles – Project Geologist •  Bill Houston – Landman •  Tim Janke – Mining Engineer •  Earl Shortridge – Metallurgical Advisor Proven track record of discovering and developing gold mines in Nevada 4
  • 5. Experienced Management Team Management Team has the complete suite of business, legal, environmental permitting, financial and mine management skills to put Relief Canyon back into production: •  Steve Alfers – Executive Chairman, CEO & President •  Debra Struhsacker – Corporate VP •  Eric Alexander – VP Finance & Controller •  Larry Hillesland – VP Exploration & Development •  Stephen Tibbals – Mine Manager, Relief Canyon Mine Proven track record of discovering and developing gold mines in Nevada 5
  • 6. Pershing Gold’s Key Assets •  Plant•  Fully operational and permitted processing facilities •  Mine•  Identified NI 43-101 compliant gold resource •  463,000 Measured & Indicated ounces of gold •  101,000 Inferred ounces of gold •  Land•  Consolidated land position controlling 25,000 acres •  Permits•  On track to be fully permitted in 2015 Fast-tracked to become a Nevada gold producer 6
  • 7. Key Asset: Permitted Processing Facility •  •  •  •  State of the art heap leach facility Capacity to treat eight million tons per year Permitted leach pad with 21 million ton capacity Ideally situated to process future discoveries from satellite deposits We have the permits we need to run this plant 7
  • 8. Key Asset: Open Pit Mine and In-Pit Gold Resource 44K  oz  Au   419K  oz  Au   113K  oz  Au   42K  oz  Au   1 •  Brownfields project that has been mined since the 1980s •  740 holes drilled with drilling ongoing to expand resource •  43-101 compliant in-pit resource (January 2013) 101K  oz  Au   2 1. Mine Development Associates 43-101 Technical Report 2. Roscoe Postle Associates Inc. 43-101 Technical Report 8
  • 9. Key Asset: Consolidated Land Position Acres Controlled 25,000 20,000 15,000 25,200 10,000 5,000 0 1,100 Aug 2011 Feb 2013 •  April 2012: Two deals secured control of private lands and claims surrounding Relief Canyon •  March 2012: Landmark deal consolidated Relief Canyon Mining District •  February 2013: Landholdings at Relief Canyon Expanded 9
  • 10. Key Asset: Current Landholdings 10
  • 11. Key Asset: Consolidated Landholdings Allow Mine Expansion in All Directions Strategic consolidation of land position at Relief Canyon gives Pershing Gold control of the Relief Canyon gold deposit identified to date plus adjacent property with high potential for mine expansion 11
  • 12. Key Asset: Permit Amendment Applications Planned for 2014 Principal Permits Required for Mine Expansion Target Permit Submittal Date Plan of Operations Amendment January 2014 US Bureau of Land Management Reclamation Permit Amendment January 2014 NV Division of Environmental Protection Water Pollution Control Amendment February 2014 NV Division of Environmental Protection Mercury Emission Control Permits March 2014 NV Division of Environmental Protection Air Quality Permit Amendment April 2014 NV Division of Environmental Protection Special Use Permit Amendment May 2014 Pershing County Commissioners 12
  • 13. 2013 Technical Program •  Continue drilling program to expand new Lower Zone discovery and test for additional high-grade zones •  Complete engineering and metallurgy to recommission the processing facility •  Update 43-101 compliant resource •  Implement permitting process to authorize resumption of mining •  Complete a Preliminary Economic Assessment of the Relief Canyon Mine 13
  • 14. 2013 Drilling1 Program: Initial Results Discover High-Grade Gold Drill  Hole From   (,) 389   418.4   513.4 445   454.2 353 To   (,) 618.8   542.2   515.4 475   460.4 385 Length   (,) 229.8   123.8   2 30   6.2 32 Gold   (opt) 0.025   0.044   1.321 0.270   0.992 0.021 Silver   (opt) 0.2   0.33   1.608 0.752   2.96 0.172 Mineralized  Zone  and     Altera>on  Minerals Lower   Lower   Lower  w/white  clay  &  fluorite Lower   Lower  w/white  clay  &  fluorite Lower RC13-­‐120 352.8   392 467   508.4   636 302   393   393 497   524.5   707.6 350 40.2   1 30   15.6   71.6 48 0.018   0.206 0.019   0.021   0.023 0.044 0.079   0.277  0.348   0.314   0.227    0.220   Lower   Lower  w/white  clay  &  fluorite Lower   Lower   Black  Jasperoid Lower  Zone RC13-­‐121   Including   Including 333.5   354.2   377.4 460.9   357   378.7 127.7   2.8   1.3 0.058   0.43   0.38  0.201   1.656   0.324   Lower RC13-­‐115   Including   Including RC13-­‐116   Including RC13-­‐117 RC13-­‐118   Including RC13-­‐119 1. All drilling results are available on the Company’s website. Drilling is Ongoing to Expand the Lower Zone and Explore for Higher-Grade Zones 14
  • 15. 2013 Drilling Program: Discovery of Lower Zone 15
  • 16. 2013 Drilling Program: Lower Zone High-Grade Intercepts LEGEND Historical Holes with intercepts > 0.2opt 2013 Holes with intercepts > 0.2 opt 0.992 opt Au NT08_02 0.735, 0.200 DH_9723 SBG11-D02 0.560, 1.50 0.209 0.293 NT08_04 NT08_03 0.363 DH_9637 0.242 0.300 * * * * NT08_D04 0.202 0.255 0.252 RC13-121 RC13-120 0.260 SBG11-D07 RC13-119 LRC_152 DVR_37 0.256 0.312 SBG12-D03 DVR_28 0.642 0.428 OPEN RCM07_72 0.212 0.454 0.212 0.331 DH_9605 0.390 DH_9629 0.759 0.245 RCM07_74 0.328 RCM07_73 0.211 DVR_12 0.298 OPEN DH_9603 0.363 0.240 SBG12-D05 0.296 0.270 DH_9635 RCM07_39 0.718 LRC_007 DVR_03 0.452 0.402 0.797 0.379 North Pit LRC_060 RC12-021 0.330 0.206 DVR_10 0.288 LRC_083 SPRC_002 0.225 LRC_098A LRC_106 0.215 0.304 SPRC_073 0.207 0.262 0.436 DVR_15 0.230 SPRC_104 0.2930 SPRC_044 DH_9619 DH_8711 0.238 LRC_053A 0.2 08 8 * OPEN SBG12-D02 0.267 DH_9706 DH_9714 0.642 0.270 LRC_051 LRC_055 LRC_190 0.961 0.221 0.236 0.309 SPRC_042 0.220 SPRC_040 Sec 17 Sec 20 0.20 Sec 16 Sec 21 0.245 0.369 DH_9719 0.2000 FIGURE 3- Distribution of High Grade Gold Intercepts in Drill Holes At Relief Canyon Drilled 1980 to August 2013 16
  • 17. 2013-2014 Mine Development Program: Next Steps •  Complete drilling to expand existing resource •  File amendments to plan of operations and other permits •  Complete column tests and other metallurgy •  Complete engineering and geotechnical work •  Complete updated 43-101 compliant resource •  Complete 43-101 compliant Preliminary Economic Assessment 17
  • 18. Pershing’s Value Proposition •  Pershing is an emerging producer because of its assets and its short timeline to production •  Emerging producers trade at an industry premium •  Pershing’s performance on the ground should drive the Company’s valuation •  Continuing progress towards near-term production should make Pershing a strong emerging producer 18
  • 19. Peer Group Performance Comparison 19 Adjusted Market Cap per Recoverable Oz based on BMO Gold Pages, October 7, 2013
  • 20. Pershing Gold’s Low Risk Profile Key factors in place to progress toward production 20
  • 21. Key Takeaway: Reducing Risk Should Drive Valuation •  Progress toward production •  Processing facility is fully paid for, built and permitted •  Metallurgical studies underway •  Engineering work for mine planning in process •  Preliminary Economic Assessment planned for Q2 2014 •  Expanding resource •  Listing on major stock exchange •  Financing to cash flow 21
  • 22. Pershing Gold Corporation 1658 Cole Boulevard, Building 6, Suite 210 Lakewood, CO 80401 720.974.7248 E-mail: investors@pershinggold.com www.pershinggold.com 22
  • 23. Capital Structure CAPITAL STRUCTURE  Shares issued and outstanding* 273,292,023 Warrants 26,231,031 Stock options 33,400,000 Conversion of Series E Convertible Preferred Stock 33,555,000 Total fully diluted shares as of October 25, 2013** 366,491,644 Share price as of October 25, 2013 Market capitalization as of October 25, 2013 Debt Gross proceeds from financing*** $0.369 $100,844,756 $0.00 $11,100,000 OTCQB:PGLC *Common Shares outstanding as of October 25, 2013. ** Based on Common Shares outstanding plus the conversion of all convertible securities outstanding on October 25, 2013. *** as of August 2013 23
  • 24. Share Price and Volume for Past Six Months 24