Shares in penny stock Pershing Gold Corporation (OTCBB: PGLC.OB) are surging in early trading after the company announced a signed agreement with Victoria Gold Corp. (TSX-V: VIT.V) to acquire mining claims owned by Victoria’s U.S. subsidiary, Victoria Resources Inc. The agreement also calls for interests in claims and leaseholds owned by Newmont Mining Corp. (NYSE: NEM) that were under lease or sublease.
PGLC began trading this week after changing its company name and ticker symbol from Sagebrush Gold (OTCBB: SAGE).
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Shares in penny stock PGLC, Pershing Gold Corporation, are currently trading at $0.62, up 14.81%. Share volume thus far has reached $1,638,411 worth of PGLC traded on volume of 2,519,751. 472 trades on the penny stock have been executed so far this morning.
PGLC was profiled here at AimHighProfits just days ago when we highlighted the name and ticker symbol change as well as to question why PGLC was not a top 10 penny stock considering one of the Forbes List Billionaires, Dr. Phillip Frost, put his money into PGLC (SAGE).