Pershing Resources Files Revised Financial Statements With OTC
The Company Prepares For Its Regulation A, Form 1-A Filing
RENO, NV -- (Marketwired) -- 01/09/17 -- Pershing Resources Company, Inc., (OTC PINK: PSGR) announced today that is has posted revised financial statements for the six months ended June 30, 2016 and 2015 and for the nine months ended September 30, 2016 and 2015. The Company began the process of revising its financial statements in July of 2016.
The Company began with one mineral rights property in 2004 and added to its portfolio in 2015. The Company expanded its Marco property in 2015 and its New Enterprise property 2016. The revised financial statements more accurately reflect the value of the Company's mineral rights holdings as of the end of the third quarter of 2016.
Pershing Resources' CEO Steve Plumb stated, "We are very pleased that our financials now reflect the progress we have made over the last two years. We expect our asset value to continue to grow as we acquire additional mineral rights and mining properties. The revised financial statements provide a more complete picture of the Company in addition to reflecting the application of SEC accounting standards. These revisions have been a significant part of the preparation to file our Form 1-A Offering Statement and, we are now looking forward to moving through the rest of the filing process.
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Forward Looking Statements
The information contained in this press release as well as the information on the Company's website is provided solely for the reader's general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein and on the Company's website, constitute "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company's management. When used in this press release and on the Company's website, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and/or achievements of the Company or of the gold mining industry in general to be materially different from future results, performance and/or achievements expressed or implied by those forward looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties related to fluctuations in gold, silver and other commodity prices, uncertainties relating to interpretation of drill results and the geology of the Company's properties, uncertainty of estimates of capital and operating costs, the need for cooperation of government agencies in the development of the Company's mineral projects, the need to obtain additional financing to develop the Company's mineral projects, the possibility of delay in development programs or in construction projects, and uncertainty of meeting anticipated program milestones for the Company's mineral projects.
All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company has no obligation, and expressly disclaims any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.
About Pershing Resources
Pershing Resources is a development stage precious metals producer, focused on projects located in North America. The Company is based in Reno, Nevada and, owns a development facility near Kingman, Arizona.
Our strategy is built on three basic components; the acquisition of U.S. domestic properties near mines with historical precious metals production, the development of high tonnage projects on commercially viable grades of precious metals with proximity to historical occurrences and, the application of leading edge technologies to develop efficient and environmentally favorable extraction and recovery processes. This three-tier strategy supports our short and long-term goals of positive cash flow, profitability and growing shareholder value through expansion. Supplemental to our strategy, we are focused on five key attributes. Those being; pursuit of quality growth, maintaining low cash costs, prudent financing and fiduciary practices, building a strong balance sheet and, conducting business in a responsible manner.
The Company's current assets are comprised of mining properties located in the Western United States. The Company is presently in various stages of development on each of these properties. Details on the Company's projects can be found at http://www.pershingpm.com/.
As opportunities arise, the Company will seek to strengthen its balance sheet through acquisition of additional mining properties. Pershing Resources is committed to responsible mining practices and, we believe, is positioned to deliver sustained growth and performance for years to come.
Pershing Resources Company
200 South Virginia Street, 8th Floor
Reno, NV 89501
Source: Pershing Resources Company, Inc.
Released January 9, 2017