Pershing Gold Corporation (NASDAQ:PGLC) was formerly known as Sagebrush Gold Ltd until March 2012. This is a newly formed company to capitalize on the high price of gold. Relief Canyon Mine, which is in Nevada, will be put back into production. According to the company, Pershing County is under explored and looks to be a place for newly discovered mineral deposits. So this company is seeking to attain more property here. Its wholly owned subsidiary is Arttor Gold LLC.
In March, almost 10,000 acres of mining claims were added to the assets of the this company. In May the 2 properties owned by the subsidiary, North Battle Mountain Mineral Prospect and Red Rock Mineral Prospect were sold to Valor Gold Corp. On December 4th, the company announced that it had concluded the drilling of 83 holes at Relief Canyon. This expanded the area 500 feet South.
The stock of PGLC is trading at $.41. Over the past 52 weeks the stock has had a range of $.25 up to $.97. So right now its right in the middle of the high/low. The previous close was for $.383. The market cap of this company is $105.21M.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.