Challenges and Opportunities: A Qualitative Study on Tax Compliance in Pakistan
Pglc new york_102713
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
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
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
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
