Hotshot CEO Joins PSNP & Moves Straight Into A Gold Mining Royalty Acquisition
I’m following up Friday’s wild & profitable ride with this beauty.
On Friday I alerted you to a stock that I said has dished out monster gains before & once again I delivered on that promise. It was a wild ride, that’s for sure. The stock dipped to a freakishly low share price of .30 before rallying back up to .85 for possible intraday gains of 183%.
Well, it’s time to profit once again and that’s why I introduce you to…
Preston Corporation (OTCQB: PSNP)
On Wall Street they call him the “Fixer.” They also call him the “Shepherd” and he’s perhaps one of the most transformative business minds to emerge on Wall Street in decades.
His name is W. Andrew Stack and he’s the single biggest reason that PSNP deserves your attention right now. He recently became CEO and he’s set out an aggressive growth plan that promises to generate at least $2M in revenues for PSNP within the first 12 months.
Bold claim? You could argue that. But Mr Stack has taken over 100 companies public and he was the lead consultant for Creative Edge when it stock took off 2,800%. This guy is the real deal and many now believe that he’s the man PSNP needs to make good on its royalty business model.
Under Mr Stack’s leadership PSNP recently entered into a Royalty Purchase Agreement with Arizona Gold Mine. The initial project under the agreement is centered around West Port Gold Mine, a property that is forecast to process 220K tons of gold bearing material which potentially could yield over 21K ounces of gold per year.
Just think about what that means in the current bullish gold market. PSNP is poised like no other and I believe that it’s near term setup is perfect for day and swing trades.
The play recently rallied 48% and has shown that despite currently trading around 0.52, it has significant upside potential still tucked away.
RSI is just 48 which suggest that PSNP could be in line for a major potential run. It has the liquidity to deliver multiple profits too; recent daily volatility has been on fire.
Take a look at this shining gem right away.
Check out the chart…
Here’s a link to the chart: http://www.barchart.com/interactive_charts/stocks/PSNP
PSNP’s (Preston Corporation) exists to invest in and co-manage lucrative niche mining opportunities that are often overlooked throughout the USA. PSNP prides itself in sourcing and partnering with some of the hardest working Americans. Preston ensures that these opportunities remain productive and profitable for those mining operators that employ so many of the local work force in the communities that they operate within.
Higher Gold Prices Expected To Add 10M Ounces By 2022
BMI Research, a division of Fitch, predicts in a new report that gold miners will add 10M ounces or more than 280 tonnes to global production with average annual growth of 2.7% for a total of 110M ounces or 3,118 tonnes yearly output by 2020. This represents a slight deceleration in growth rate compared the previous five-year average of 3.2%.
Projects expected to add substantial ounces to global gold production before the end of the decade include Endeavour Mining’s Hounde project in Burkina Faso, Goldcorp and Teck’s Corridor JV in Chile and Torex Gold Resources giant El-Limon-Guajes ramp up to full production. Beyond 2020, Continental Gold’s Buritica project, Phase 2 at Rio Tinto’s Oyu Tolgoi mine in Mongolia and Barrick’s Goldrush in the US would further boost production.
BMI is bullish on the outlook for gold prices, saying that gold prices bottomed in 2015 and will edge higher over the coming quarters. The firm forecasts an average of $1,300 per ounce in 2016 increasing to $1,500 by 2020. Gold averaged $1,160 last year.
Preston Corporation Provides Further Details on Arizona Gold Mine Royalty Acquisition
AUSTIN, Texas, August 10, 2016 /PRNewswire/ —
Preston Corp (PSNP) (“Preston Corporation” “PSNP” or the “Company”) today is pleased to provide further details on the Company’s Royalty Purchase Agreement with the previously announced Arizona mine. The project is the West Port Gold Mine located near Quartzite, Arizona and is a fully permitted placer-alluvial gold project, currently in the final stages of mine construction prior to commencing commercial gold production.
The West Port Mine is forecast to process 220,000 tons per year of gold bearing material at a grade of 3 grams per ton resulting in the production of 21,000 ounces of gold per year. EBITDA is forecast at $23.5 million in 2017 and $29.8 million in 2018. The mine life currently has sufficient insitu material to operate at 800 tons per day through 2020. Preston believes that there are excellent opportunities on the existing claim block to find significant additional resources on the project along the gold bearing channel strike and at depth.
Under the terms of the royalty agreement with West Port, Preston has agreed to purchase a royalty interest in the mine for $5,000,000, receiving a contractual 50% annual return on investment.
As previously announced, the West Port Mine is a low cost, high grade placer deposit which has an all-in production cost per ounce of gold of $300 and a calculated AISC (All-In Sustaining Cost) of $466.82. The mine meets all of Preston’s requirements for financing and acquisition. Preston anticipates recording revenue from this royalty in Q4 of this year.
To learn more about PSNP please visit their website: http://www.prestonroyalty.com/
Check out PSNP now.
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