Dropping Coverage

Shareholders Approve Merger with Americas Silver Corporation

First Quarter 2019 Merger Closing Expected

PGLC Agrees to be Acquired by Americas Silver

Mark Reichman

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Basic Materials

Metals & Mining

Pershing Gold Corporation

Summary of Third Quarter Results
Pershing Gold generated a third quarter loss of $3.2 million, or ($0.10) per share, compared to a loss of $2.5 million, or ($0.09) per share during the prior year period.&nbsp; The $700 thousand increase in expenses was attributed to: 1) a $100 thousand increase in consulting fees associated with work on the Relief Canyon mine feasibility study,&nbsp; 2) a $700 thousand increase in general and administrative expenses due to increased legal fees and corporate expenses, and 3) a $100 thousand decrease in compensation expense as a result of lower stock-based compensation associated with restricted stock grants to employees.&nbsp; 
First Quarter 2019 Transaction Close Expected&nbsp; &nbsp; 
The special meeting of shareholders to vote on the proposed acquisition by Americas Silver will likely be scheduled for late in the fourth quarter or more likely during the first quarter of 2019.&nbsp; Assuming respective shareholders approve the transaction, closing will occur shortly thereafter.&nbsp; Pershing shareholders will be asked to approve the transaction with at least a majority of outstanding voting shares, and approval by preferred shareholders holding at least 75% of the Pershing preferred stock.&nbsp; Americas Silver shareholders will be asked to approve the transaction by a simple majority of votes cast and a special resolution to approve an amendment to its articles to provide for the issuance of new non-voting preferred shares.
The transaction is subject to the approval by the Toronto Stock Exchange, NYSE American and the Committee on Foreign Investment in the United States (CFIUS) given that Americas Silver is a Canadian corporation and due to the proximity of Pershing Gold&#8217;s Relief Canyon mine project to military installations.
Capital Structure and Liquidity
 As of September 30, the company reported ~$2.0 million of cash and cash equivalents and no debt.&nbsp; Restricted cash amounted to ~$3.7 million.

Pershing Gold Corporation (PGLC)

First Quarter 2019 Merger Closing Expected

Dropping Coverage (PGLC)

Shareholders Approve Merger with Americas Silver Corporation (PGLC)

First Quarter 2019 Merger Closing Expected (PGLC)

PGLC Agrees to be Acquired by Americas Silver (PGLC)

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