Business
PERSHING RESOURCES EXERCISES OPTION TO PURCHASE ITS DEVELOPMENT FACILTIY
PERSHING RESOURCES EXERCISES OPTION TO PURCHASE ITS DEVELOPMENT FACILTIY.
About this update from Pershing Resources Company, Inc.
[{"type":"text","content":"Pershing Resources Exercises Option to Purchase Its Development Faciltiy\n \nMarch 21, 2016 \nThe Company Continues Pilot Mill Development and Looks to Add to Its Portfolio \nRENO, NV -- 03/21/16 -- Pershing Resources Company (OTC PINK: PSGR) announced today that the Company has agreed to exercise its option to purchase a property that it has been leasing as its development facility. A purchase agreement has been executed and, the transaction is expected to close in the next thirty days.\nThe 22 acre property is located near Pershing Resources’ New Enterprise Project outside of Kingman, Arizona. The property presently has several buildings and includes living quarters for up to six staff. Enhancements to the existing water and electrical systems are currently being added to accommodate pilot mill development needs. The property is suitable for mill development work and extraction testing. Small scale production is also permissible. \nSteve Plumb, CEO of Pershing Resources, stated, \"Purchasing this property is key to our strategic and tactical goals and marks a major investment in the Company’s capabilities and future. We now own a secure facility, with close proximity to our Arizona projects. The property is large enough to support our process development work, lab work and, future small scale production. We are very pleased to have had the opportunity come along at such a critical juncture in our progress. \nMr. Plumb added, \"We continue looking to add to our portfolio of mining properties as well. As opportunities arise we will seek to strengthen our balance sheet through acquisition. We continue to review and consider new mining projects in the western United States. Having greater technical capabilities now in house will make us more nimble and thus able to act decisively when analyzing potential opportunities.” \nThe Company appreciates feedback from shareholders and welcomes comment and suggestions on all aspects of its operations. Pershing Resources shareholders and interested parties are encouraged to refer to the Company website for updates and more detailed information on current projects at: http://www.pershingpm.com/\nTo make sure you receive information on Pershing Resources, sign up for Pershing Resources' email news alerts at: http://ir.pershingpm.com/\nSafe Harbor Statement The informatio...