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Re: Pretium Resources (TSE:PVG)

PostPosted: Fri Nov 09, 2012 9:15 am
by Pixel8r
Pretivm Reports Third Quarter 2012 Results

Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report the following highlights from the third quarter of 2012 and updates for its Brucejack Project in northern British Columbia.

Third Quarter 2012 Highlights and Significant Events

  • Announced on July 31, 2012 the bonanza-grade interval from hole SU-452 which, from a downhole depth of 198.79 meters, encountered an average grade of 2,393 grams of gold and 1,605 grams of silver per tonne uncut over 10.71 meters (70.3 ounces gold and 46.8 ounces silver per ton over 35.1 feet), including our highest-grade intercept to date on the Brucejack Project of 41,582 grams of gold and 27,725 grams of silver per tonne uncut over 0.5 meters (1.6 feet averaging 1,212.8 ounces gold and 808.6 ounces silver per ton); :shock:
  • Closed a private placement on August 24, 2012 with the issue of 1,150,000 flow-through common shares, inclusive of the exercise of the underwriters' 150,000 flow-through shares overallotment option, for gross proceeds of $20,700,000;
  • Announced on September 7, 2012 an updated interim high-grade Mineral Resource estimate for the Valley of the Kings;
  • Ended the quarter with working capital of $59,776,218;
  • Completed the 2012 Brucejack Exploration Program in mid-October with a total of 105,769 meters drilled in 306 holes, with the length of the Valley of the Kings nearly doubled to over 800 meters along strike;
  • Announced on October 25, 2012 an operating rate of 2,700 tonnes per day for the Brucejack Project underground mine feasibility study now underway.

Re: Pretium Resources (TSE:PVG)

PostPosted: Tue Jun 11, 2013 9:14 am
by Pixel8r
Positive Feasibility Study Completed for Brucejack High-Grade Gold Project

Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to announce a positive National Instrument 43-101-compliant Feasibility Study for the high-grade gold and silver resources identified to date at its 100%-owned Brucejack Project ("Brucejack" or the "Project") in northern British Columbia. The Feasibility Study was prepared by Tetra Tech.

Highlights (base case using US$1,350/oz gold, US$20/oz silver and exchange rate of US$/C$: 1)

  • Valley of the Kings Probable Mineral Reserves of 6.6 million ounces of gold (15.1 million tonnes grading 13.6 grams of gold per tonne) and West Zone Proven and Probable Mineral Reserves of 700,000 ounces of gold (3.8 million tonnes grading 5.8 grams of gold per tonne);
  • Average annual production of 425,700 ounces of gold over the first 10 years and 321,500 ounces of gold over the life of mine;
  • Base Case pre-tax Net Present Value (5% discount) of US$2.7 billion;
  • Base Case pre-tax Internal Rate of Return of 42.9%, with payback estimated at 2.1 years;
  • Mine life of 22 years producing an estimated 7.1 million ounces of gold;
  • Estimated project capital cost, including contingencies, of US$663.5 million;
  • Average operating costs of C$156.46/tonne milled over mine life.

Re: Pretium Resources (TSE:PVG)

PostPosted: Mon Jun 24, 2013 3:19 pm
by Pixel8r
Here's a snippet from this interview on;

Five Miners Chen Lin Expects to Buck the Trend

Finally, there is Pretium Resources Inc. (PVG:TSX; PVG:NYSE), which is one of the nonproducers I own. The company has a very high-grade gold mine in the Yukon. Some ore runs at 1 kilogram per tonne. Pretium just announced a feasibility study, showing an internal rate of return on investment of 43% at $1,350/oz gold and $20/oz silver. The payback time is 2.1 years. So if you believe in the long-term future of gold and silver, this is one stock to own.

TGR: When is it going to be in production?

CL: Probably 2015 or 2016, depending on the permitting, etc.

TGR: What kind of a capital expenditure is required to get that into production?

CL: It's in the feasibility study it just announced. It's $660M.

TGR: Do you think Pretium will have problems raising that kind of capital?

CL: For a world-class mine like that, I don't think it will be a problem. Payback is two years.

Re: Pretium Resources (TSE:PVG)

PostPosted: Thu Jun 27, 2013 7:54 am
by Pixel8r
Feasibility Study and Technical Report on the Brucejack Project, Stewart, BC ... 202013.pdf

Re: Pretium Resources (TSE:PVG)

PostPosted: Thu Aug 15, 2013 9:15 am
by Pixel8r

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 15, 2013) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report additional underground drill results from the Valley of the Kings Bulk Sample Program (the "Program") currently underway. Assays from the Program continue to confirm the projection of high-grade gold mineralized domains, and visible gold continues to be encountered. (See Table 1 below for assays.)

Selected drill highlights include:

  • Hole VU-068 intersected 1,695 grams of gold per tonne uncut over 0.5 meters;
  • Hole VU-084 intersected 2,700 grams of gold per tonne uncut over 0.5 meters;
  • Hole VU-114 intersected 1,685 grams of gold per tonne uncut over 0.59 meters;
  • Hole VU-124 intersected 2,270 grams of gold per tonne uncut over 0.5 meters;
  • Hole VU-125 intersected:
      1,065 grams of gold per tonne uncut over 5.18 meters, including 10,850 grams of gold per tonne uncut over 0.5 meters; and
      3,050 grams of gold per tonne uncut over 0.5 meters; and
  • Hole VU-133 intersected 1,945 grams of gold per tonne uncut over 0.5 meters.
The bonanza-grade intercepts noted above were intersected in areas with projected high-grade resources...

Re: Pretium Resources (TSE:PVG)

PostPosted: Thu Aug 15, 2013 6:26 pm
by Pixel8r
The Gold Report Interview with Louis James (8/14/13) "Large high-grade projects, like Pretium Resources Inc.'s Brucejack project, with its bonanza-grade Valley of the Kings zone, are very few and far between. . .the No. 1 pick has to be Pretium Resources. Bob Quartermain's large, high-grade discovery, the Valley of the Kings zone at the Brucejack project, is one for the record books. There are people who are skeptical of the current resource model. Some of these are not just people who are professional critics, but good people with years of experience in the field. They know how tricky Mother Nature can be, and that's fine. However, if you're going to speculate on a mineral discovery, you want to speculate on something that's really big or really high grade. This project is both. It could be a mega-bonanza-grade deposit—and not in some kleptocratic banana republic. It's certainly worth a swing for the bleachers on this one. The project is undergoing a bulk-sampling test now. The results, expected in the fall, should tell us if it's real.

"By the way, while this is going on, Pretium is still making discoveries. It just announced results from the Cleopatra Vein where it reported 2.5 kilos—not grams, not ounces, but kilos—of gold over a thickness of more than 5m. That's a honking fat vein for such high grades."

Re: Pretium Resources (TSE:PVG)

PostPosted: Sun Nov 03, 2013 11:15 pm
by Pixel8r
The Pretium gold resource controversy in context and a letter from the frontline

The disagreement between two respected engineering companies over the Pretium resource in BC, Canada has generated much controversy but should not detract from a still exciting project.

Author: Lawrence Williams | Posted: Friday , 25 Oct 2013

...Personally, as a mining engineer by background, I suspect with a deposit of this type with a very large number of ultra-high grade gold intersections in its Valley of the Kings section, within a much lower grade more disseminated orebody, that neither will accurately represent ultimate mining grades. There is precedent for this in some of the Red Lake area mines where ultimate grades to the mill from high grade sections of the mines often proved to be in excess of those suggested by sampling or drilling. Thus if, and when, a mine is developed at Brucejack, selective mining methods could well enable the orebody to be mined to a far higher grade than the bulk sampling would suggest, should economics suggest that is the most profitable long term route for shareholders...

Re: Pretium Resources (TSE:PVG)

PostPosted: Fri Nov 22, 2013 10:32 am
by Pixel8r

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 22, 2013) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report that 4,215 ounces of gold have been produced from 8,090 dry tonnes of excavated material from the Valley of the Kings Bulk Sample Program (the "Program"). Approximately 1,815 wet tonnes remain to be processed.

Re: Pretium Resources (TSE:PVG)

PostPosted: Mon Jan 20, 2014 7:40 pm
by Pixel8r
Tekoa talks with Bob Quartermain CEO of Pretium.

Bob Quartermain: “The Real Rewards Are Offered From Solid Projects Backed By Solid People”

I had the chance recently to reconnect with Bob Quartermain, President and CEO of Pretium Resources.

It was an interesting conversation, as Bob and the Pretium Resources team recently announced the final results of a 10,000 ton bulk sample program and updated mineral resource for the company’s flagship Brucejack gold project.

It should also be noted that during the final months of 2014, a number of class action suits arose against the company, amid a period of “academic discussion [and debate],” as one fund manager noted, regarding the reliability of the company’s previously assembled geological model.

Speaking towards the litany of class suits announced against the group during Q4, Bob said, “We’ve seen the press releases regarding the actions…[and] are advised that these press releases are not uncommon in the United States following a news release by a publicly-traded company which sees a share decline after it. We believe the allegations made against us in these actions are meritless and we will vigorously defend the matter.” ...

Re: Pretium Resources (TSE:PVG)

PostPosted: Thu Oct 16, 2014 8:37 am
by Pixel8r
H.C. Wainwright Analyst Jeff Wright Names Three Companies That Could Turn The Gold Trend Upside Down

TGR: Let's talk about some of the companies that you have under coverage.

JW: One of the companies I cover is Pretium Resources Inc. (PVG:TSX; PVG:NYSE) (Rated: Buy). I conducted a site visit in August of its Brucejack project in northern British Columbia. The company has done a very good job managing the project, increasing the size and the quality of the reserve. The grades there are phenomenal. It is a near-surface, underground mine, so the development is not that expensive. The company has to raise approximately $700 million ($700M), but the updated feasibility study shows the project is still quite profitable at $1,200/oz gold.

TGR: How will Pretium raise the capital for mine construction?

JW: It will probably be a mixture of debt and equity, but with the scale tilted more toward debt. I don't see management wanting to overly dilute the project. I think that's a really good example of management not trying to unnecessarily accelerate development. Pretium is letting the project play out. It's looking to grow a true mining company with a good resource base and a reserve that will be mined with outstanding economics for 15–20 years. $700M is a large number to fund, but it makes sense based on the grade and the tonnage that the project can sustain.

TGR: Is permitting going to be a challenge?

JW: The project is on track to get its permits by the middle of 2015. Brucejack doesn't have the environmental concerns of some other projects. It's in a fairly isolated place with no major water or wildlife issues, and management has a good relationship with the First Nations in that area of British Columbia. It's a mine that makes sense.

Re: Pretium Resources (TSE:PVG)

PostPosted: Mon Dec 08, 2014 5:33 pm
by Pixel8r

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 8, 2014) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that Zijin Mining Group Co., Ltd. ("Zijin") has agreed to make a strategic investment in the Company which will result in Zijin owning approximately 9.9% of Pretivm's issued and outstanding shares. Pretivm has agreed to issue to Zijin by way of a private placement 12,836,826 common shares of the Company (the "Purchased Shares") at a price per share of C$6.30 for gross proceeds of approximately C$80,872,004 (the "Offering"). Zijin is a Shanghai and Hong Kong listed company with extensive interests across a broad range of commodities, and is the largest gold producer in China.

The Offering constitutes a significant portion of the planned equity component of the financing required to bring the Brucejack Project into production. Pretivm intends to use the proceeds from the Offering to fund capital expenditures including the procurement of long-lead items and camp infrastructure. The permitting process for a 2,700 tonne-per-day underground mine at Brucejack is currently underway...

Re: Pretium Resources (TSE:PVG)

PostPosted: Tue Sep 01, 2015 9:16 am
by Pixel8r
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 1, 2015) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that it has been issued all of the major regulatory permits required to begin development work towards commercial production at the Brucejack Project located in northern British Columbia. The British Columbia Minister of Energy and Mines has issued a Mines Act Permit approving Pretivm's mine plan and reclamation program allowing commercial production at the Brucejack Project. The Mines Act Permit allows for the construction of a 2,700 tonnes per day doré and flotation plant, development of an underground mine, and associated facilities and other infrastructure.


Re: Pretium Resources (TSE:PVG)

PostPosted: Mon Mar 14, 2016 9:32 am
by Pixel8r
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 14, 2016) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that Zijin Mining Group Co., Ltd. ("Zijin") will subscribe for 2,786,849 Pretivm common shares (the "Common Shares") at a price of US$4.58 per Common Share in a non-brokered private placement (the "Private Placement"). Pursuant to a subscription agreement dated December 8, 2014 between Zijin and the Company, Zijin is entitled to maintain its proportionate ownership interest in the Company by participating pro rata in issuances of the Company's common shares. Zijin has exercised such rights in connection with the Company's public offering of common shares that closed on March 1, 2016 (the "Offering"). The total number of Pretivm common shares issued in connection with the Private Placement and the Offering will be 31,923,755 common shares for aggregate gross proceeds to Pretivm of US$146,210,798.

Re: Pretium Resources (TSE:PVG)

PostPosted: Wed Oct 10, 2018 12:22 pm
by Pixel8r
Pretium Resources: The Panic Is Clearly Overdone


Although the markets were warned that the Q3 production should be lower compared to Q2 and even the extent of the decline wasn't unexpected, the share price reaction was very negative. Pretium shares lost $0.8, or 9.93%, which is a pretty overdone reaction. The share price is 25% lower than it was 1 year ago. Although back then the share price was higher and investors were more optimistic regarding the prospects of the company, it is possible to argue that Pretium is in a better shape now than it was 12 months ago.

Over the last two quarters, the head grades approached the reserve gold grades. The mill has been operating without any meaningful issues for 4 quarters. Moreover, Pretium has found out that the throughput rate can be expanded rapidly, with only limited capital expenditures. The recoveries are stable around 97%. The precious metals stream will become history soon, and the old credit facility is about to be refinanced, thence, the maturity will be expanded.

The share price stands at $7.26 right now. Given the strong support in the $6.7-7.0 area that was created in recent months, it is possible to expect that the decline will stop soon and the share price will rebound back up in the near term.