JOHANNESBURG (miningweekly.com) – Nevada-based gold producer Pershing Gold has been approved to list its common stock on the Nasdaq global market.
It would formally start trading on July 6.
"This uplisting represents a key milestone for Pershing Gold. We believe that trading on the Nasdaq will provide us increased visibility in the marketplace, greater access to capital, a broader investor base and, ultimately, help us implement our growth initiatives and enhance shareholder value.
"We likewise believe the additional exposure and credibility that Pershing Gold will receive from the investment community as a Nasdaq-listed company will generate broader analyst, media and industry awareness for the company,” Pershing Gold CEO, president and chairperson Stephen Alfers noted.
The mining company restarted the 552 000 oz Relief Canyon mine, which included three openpit mines and a fully permitted and constructed heap-leach processing facility.
Pershing Gold's land-holdings covered about 25 000 acres, including the Relief Canyon mine asset and lands surrounding the mine in all directions. This land package provided Pershing Gold with the opportunity to expand the Relief Canyon mine deposit and to explore and make new discoveries on nearby lands.
Nevada had the second-largest gold reserves in the world behind only the Witwatersrand, in South Africa. Over 152-million ounces of gold had been mined in the state since 1835.