The are few things more reassuring as an investor and in particular a small-cap investor than the financial and operational backing of a billionaire guru. Similarly, there are few things more indicative of upside potential than large-scale institutional share buying ahead of a major milestone or catalyst. Pershing Gold Corp.’s (NASDAQ:PGLC) most recent SEC filings tick both of these boxes and, in doing so, make the company an attractive allocation for any investor looking to piggyback the exposures of the smart money.
For those not familiar with Pershing, it’s a development stage gold-mining company poised to start production at its first major project. The real estate in question is a Nevada-based mine called Relief Canyon. It’s located in the same region as some of the U.S.’s biggest producing properties, operated by incumbent names in the space – Barrick Gold Corporation (NYSE:ABX) and Coeur Mining Inc. (NYSE:CDE) to name just two. Pershing has spent the last half decade drilling at the property with the goal of expanding its resource estimate, which currently sits at 739,000 measured and indicated and 70,000 inferred ounces of gold, as of July last year. Continue Reading »