Pretium shares sink after geologists say no valid gold at B.C. project

|About: Pretium Resources Inc (PVG)|By:, SA News Editor

Pretium Resources (PVG -5.9%) extends yesterday's 22% losses after the Strathcona Mineral Services team of geologists reveals its finding that there's "no valid gold resource" at its Valley of the Kings project in British Columbia.

It seems there's plenty of gold at Valley of the Kings but disagreement over how it should be measured; Strathcona had been hired by PVG to oversee a bulk sample program for the deposit but resigned two weeks ago when it disagreed with the company's chosen methodology.

Snowden Mining, another respected team of mining consultants, agrees with PVG and has taken over the bulk sample program.