Pershing Res Co Inc Stock Price, News & Analysis

Pershing Resources (PSGR) announced the appointment of Harvey McKenzie as an independent director to its Board of Directors, effective January 1, 2022. McKenzie, a seasoned CPA with 40 years of experience in mineral resource and technology sectors, transitions from the Advisory Board and will also serve on the Audit Committee. Meanwhile, Stephen V. Savran, MD will retire from the Board after 13 years. CEO Steve Plumb expressed gratitude to Savran for his contributions and welcomed McKenzie, emphasizing the importance of his expertise for the company's future developments.

Pershing Resources Company (OTC PINK:PSGR) announced the completion of an audit by UHY, LLP of its consolidated financial statements for the fiscal year ending December 31, 2020. This marks the fourth consecutive year UHY has audited the Company, complying with Generally Accepted Accounting Principles (GAAP). The audited financials are accessible on both the OTC Markets website and the Company’s corporate site. Pershing Resources focuses on precious and base metals exploration and is developing its 100% owned New Enterprise Project located in Arizona.

Pershing Resources Company (OTC PINK: PSGR) has paid annual maintenance fees to the Bureau of Land Management for five porphyry copper projects in Arizona and three gold/silver projects in Nevada as of September 1, 2021. This payment secures mineral rights through September 1, 2022, reinforcing the company's commitment to exploration in areas with significant mineral resource potential. The projects are pivotal for the company’s strategy in the precious and base metals sector, specifically in Arizona and Nevada.

Pershing Resources Company (OTC PINK:PSGR) has engaged UHY LLP, a PCAOB registered CPA firm, to conduct an audit of its Consolidated Financial Statements for the years ending December 31, 2020, and 2019. This audit is expected to be completed by June 30, 2021. The company focuses on precious and base metals exploration in Arizona and Nevada, particularly the New Enterprise and Mohave-Standard projects. They emphasize responsible exploration and development practices.

Pershing Resources Company (OTC PINK:PSGR) has announced amendments to its lease agreements for the Klondyke, Divide, and Hot Creek properties in Nevada. The updates reduce the net smelter royalty (NSR) buyout costs from 3% to 2% or less. A significant $2,000,000 reduction in buyout costs has been negotiated for each agreement. The new terms now require advanced royalty payments of restricted common stock shares as part of the agreements. These strategic moves aim to enhance the company’s financial positioning while continuing its exploration projects.

Pershing Resources Company (OTC PINK:PSGR) has announced the termination of its Earn-In Joint Venture agreement concerning the Tonopah SIN Property, effective April 9, 2021. The agreement was terminated with Donald J. McDowell and William F. Matlack, who will retain 3,770,000 shares of restricted common stock. Following this, Pershing will not incur cash costs or obligations related to the 20 unpatented claims of the property. The Company remains focused on its exploration projects in Arizona and Nevada, particularly the New Enterprise and Mohave-Standard properties.

Pershing Resources Company has acquired a 100% mineral rights interest in the Divide Gold and Silver Project in Central Nevada. This project is strategically located near significant past production regions, boasting over 7 million ounces of gold and 200 million ounces of silver mined historically. The agreement, effective November 21, 2019, entails annual lease payments starting at $5,000, escalating over 15 years. The company also plans to execute work commitment expenditures and retains the right to purchase mineral royalties, enhancing its asset base in the precious metals sector.

Pershing Resources (OTC PINK: PSGR) has terminated its Earn-In Joint Venture Agreement with Americas Gold Exploration Inc. and established a new agreement granting 100% mineral rights for the West Bolo Gold Project. The project now encompasses 113 unpatented mining claims covering 2,334 acres. Additionally, Pershing has signed a 20-year agreement with Mountain Gold Claims LLC. for two more claims. The project is in early exploration stages, with no significant drilling results reported yet.

Pershing Resources Company (OTC PINK:PSGR) announced on March 1, 2021, that it has raised $400,000 through the issuance of convertible notes. The notes, which mature in 160 days and carry an interest rate of 3% per annum, will convert at $0.025 per share, potentially leading to the issuance of 16 million shares. Funds will be used for accrued expenses and general working capital. The company focuses on precious and base metals exploration, particularly its New Enterprise Project in Arizona.