Any opinions on this?
Pick: Pershing Gold Corp (PGLC)
How often does the average investor get to invest alongside a billionaire?
The answer: Not often.
My pick today is a burgeoning gold company with the financial backing of Dr. Phillip Frost.
If you've never heard of Dr. Frost - Take a look at his Forbes profile... he's ranked as the 188th richest American (see: http://www.forbes.com/profile/phillip-frost/)
Dr. Frost is the largest backer of Pershing Gold Corporation (formerly Sagebrush Gold Ltd).
Phillip Frost's other venture OPKO Health, Inc. (NYSE: OPK), just graduated to the NYSE and has gone from $1.80 to $4.85 within the last year.
Here's what Forbes said about Dr. Frost "[Phillip Frost] is closely followed by a lot of Wall Street investors — including hedge funds and private equity capital firms — because of his diligent research, savvy and experience in spotting under-priced companies with undiscovered assets."
So we know PGLC has the backing of a legendary billionaire, but why?
With this company, "Why?" is the question you've got to keep asking yourself...
Why would a legendary billionaire invest in PGLC? A billionaire that specializes in finding small companies that turn into big companies.
Dr. Frost founded IVAX Corporation in 1987 and sold it for $10bn in January 2006!
This is a guy who spots something special at the earliest stages.
Not only is PGLC backed by a legendary billionaire, it's also managed by mining industry rockstar Steve Alfers.
Steve Alfers recently quit his job as Chief of U.S. Operations at $5.5bn Franco Nevada to become Chairman and CEO of the burgeoning Pershing Gold?
Prior to joining Franco Nevada, Alfers was President and CEO of NewWest Gold which he eventually sold for $186.9m to Fronteer Gold. Subsequently, Fronteer Gold was sold to Newmont Mining for over $2bn.
So this is yet another guy who specializes in building small companies into big companies.
Here's another question: Why would Pershing Gold Corporation buy a state of the art gold processing plant located on their Pershing County claim block?
So these are all the reasons I think PGLC could become one of my long-term greatest ever picks.
But why now? Why have I waited til' precisely today to tell you about PGLC?
Pershing Gold is about to finish their current drill program at the Pershing County Gold Property.
Those results should be posted in the very near future.
Could these results be the reason why Dr. Frost recently increased his backing of PGLC? (See: http://finance.yahoo.com/news/Dr-Phillip-F...75916.html?x=0)
Is this why Steve Alfers left a $5.5bn mining company to head up Pershing Gold, a "risky" exploration stage company?
Is this also why Pershing Gold recently increased their land position in Pershing County and changed their name from "Sagebrush Gold Ltd" to "Pershing Gold Corporation"?
In my opinion...
Something very big is happening here. And I believe I've found it at the very beginning.