Pershing Resources Company Inc. (OTCMKTS:PSGR) Stock Moves Up 22% in a Week: Now What?

Pershing Resources Company Inc. (OTCMKTS:PSGR) is up 22% in a week as the stock continued to gain momentum.

Market Reaction:

On Monday, PSGR stock ended flat at $0.0355 with more than 16k shares, compared to its average volume of 32k shares. The stock has moved within a range of $0.0355 – 0.0355 after opening the trade at $0.0370.

Completes Audit of 2020 Consolidated Financial Statements

The company has announced that UHY, LLP, its independent auditor, has finished the audit of its consolidated financial statements for the year ended December 31, 2020. Already YHY has finalized audits for four consecutive years of Pershing’s consolidated statements as per the Generally Accepted Accounting Principles (GAAP) guidelines.

Pershing Resources deals with the exploration and development of base and precious metals projects which are mainly located in North America. The Reno, Nevada-based company is currently working on the New Enterprise Project, which it owns 100% interest.

The New Enterprise Project, located within the proximity of Kingman, Arizona, lies with a porphyry copper trend called Laramie Arc, where it produces around 65% of the copper currently mined in the US.  The project is to the northwest region of the Laramide Arc and lies 45 miles northeast of the Baghdad Mine and 20 miles southeast of Mineral Park Mine. Investors should keep an eye on PSGR.