RE:Pershing Gold Announces Completion of Environmental PermitYeah, but look at the 2nd paragraph....how long will it take to get that money?
"The successful acquisition of these permits is a major milestone for the Company that significantly advances our ability to begin production at the Relief Canyon Mine," stated Stephen Alfers, Chairman, CEO, and President of Pershing Gold. "We thank BLM and NDEP for all of their hard work in carefully reviewing and approving our permit applications for the Relief Canyon Mine."
Prior to commencing mining activities, Pershing Gold must provide BLM and NDEP with additional financial assurance to guarantee reclamation of the mine site. The Company is making plans to satisfy this financial assurance requirement with a surface management surety bond provided by a third-party insurance underwriter. Pershing Gold anticipates that the cash collateral required to secure this bond will be approximately $1.4 million.
Read more at https://www.stockhouse.com/news/press-releases/2017/02/28/pershing-gold-announces-completion-of-the-environmental-permitting-process-for#ZuvtBIzgzaZ1UXC6.99