Levon Resources Ltd (New) V.LVN

Annoying - trying to access Sedar, & calculations.

[NineLives]

Keeps coming up 'sorry page not found'.  Want to see if Levon has filed their latest financials - 9 months.

Last conversion  for the Pershing Gold holdings was at 1.33 or .75 cents (see September financials) which made the 1,954,000 shares priced at $3.83 USD worth $10 million Canadian. Now with the C$ at 0.6959 or 1.4368 but Pershing dropping to $3.29 USD makes the conversion to Canadian dollars $9,231,000 a drop of almost $800,000 Canadian in their investment.

Pershing Gold share price has been on a downward slope for some time now & that's worrying. Would be nice to see it back over $4 USD a share.  The good news is as of ast September in their filings they still had $8.3 million USD in cash.  The not so good news is their burn rate, $5 million usd quarter to quarter with $3.4 million USD on exploration & a whopping $1.1 million that quarter on General & administrative expenses.  If they keep that up just admin expenses will come in close to $5 million USD a year.

This is what everyone is waiting for !

Pershing Gold intends to publish a third-party Preliminary Economic Assessment ("PEA") on Relief Canyon in the second quarter of 2016 using this new resource estimate. The Company is currently conducting detailed mine planning and additional metallurgical testing for the project and intends to announce a decision on start-up and when to commence commercial mining and processing activities at Relief Canyon after the release of the third-party PEA.

If / when they start mining and their all sustaining cash costs do come in at $775 (as they predict, upper range) then LVN will make some serious money out of their investment.  JMHO.  It's the when I'm concerned about.  The other news to look for is this:

December 15th 2015
Approximately 75% of the assay results have been received by the Company and have cleared Quality Assurance/Quality Control ("QA/QC") review. The Company plans to validate all assays, logging, and geotechnical data and incorporate the results into the Company's database by the end of this month. The Company will complete its review of the 2015 Drilling Program in the first quarter of 2016 and will then announce its 2016 Drilling Program to follow up on the success of the 2015 program.