Seeking Alpha

Pretium Resources -31% after resignation of bulk sample overseer

  • Pretium Resources (PVG -31.6%) plunges on news that Strathcona Mineral Services, which had been engaged to oversee and report on the bulk sample program for the Valley of the Kings at the miner's Brucejack project in British Columbia, has resigned; the company offers no explanation.
  • The processing of the excavated 10K metric tons is proceeding as planned at a rate of ~1K/week to produce gold/silver gravity and flotation concentrates.
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Comments (6)
  • gramerw
    , contributor
    Comments (46) | Send Message
     
    Panic? Added to position this a.m. Bre-x is still on peoples minds it seems.
    9 Oct 2013, 11:05 AM Reply Like
  • RobertMStahl
    , contributor
    Comments (2) | Send Message
     
    Is it chivalry on Farquharsen's part, the resigned, possibly Goldman Sach's delivering the last straw by stating, yesterday, that selling gold now was a slam dunk? Congress is locked up like the Obamneycare 2012 elections, when shorting gold miners would have made anyone a mint. When civilizations fail, with the dollar going long and longer, plus all the crime of a former paradigm sunk into the dark basin of attraction, currencies move as one, money riding on the corrupt fact of shorting gold as the money changers get rich, so do miners fall with the US dollar. The funniest thing is the biological reference, the Darwinian fact that life goes after the living (the late Lynn Margulis, alias Emily Dickensen, maybe, on a first name basis with Chuck), and if there is a mining operation today more 'alive' than Pretium, tell me where it is and what it is. In any event, it will be a while before the meek inherit the earth.
    9 Oct 2013, 03:55 PM Reply Like
  • Paul Eagles
    , contributor
    Comments (26) | Send Message
     
    Wow, this stock is trading well below its BVPS (book value per share) of $6.74USD (PVG - NYSE). It feels like the market is giving away substantial gifts this week!
    9 Oct 2013, 11:52 AM Reply Like
  • Question Mark
    , contributor
    Comments (2) | Send Message
     
    I am long on PVG and COLUF.
    9 Oct 2013, 09:45 PM Reply Like
  • Question Mark
    , contributor
    Comments (2) | Send Message
     
    Maybe a corrupt bank or country paid Strathcona to drop the project so PVG's stock would fall, so they can buy in cheap to the best goldmine in North America. Maybe, someone leaked that the Canadian's are reading emails of the Bureau of Mines Minister in the State of Para Brazil, where Colossus Minerals is located, maybe the best mine in South America. Considering all that Canada stands to loose if Brazilian mines were to nationalized, it seems like an unbelievable move.
    9 Oct 2013, 09:46 PM Reply Like
  • pretium investor
    , contributor
    Comments (4) | Send Message
     
    It is irresponsible of Pretium not to make a statement. What is going on? Why did Strathcona resign?

     

    What's up Alpha, why aren't you discussing the resignation at 9 am on Wednesday morning. It is Thursday morning and, still, nothing.
    10 Oct 2013, 09:46 AM Reply Like
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