Pretium pushes nearly 80% higher on apparent bulk sample success

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

Pretium Resources (PVG) continues to rip higher, now +78.5% after saying the gold recovered from a 10K-ton bulk sample taken at Valley of the Kings in British Columbia exceeded its target.

The data published today appear to show gold grades of ~16 grams/ton of ore, a GMP Securities analyst says, higher than the 13-gram level the firm expected.

Despite today's gains, an options trader still buys 1,240 calls betting on the stock rallying another 30% by mid-January.

The news prompts BMO to upgrade shares to Outperform.

It's worth remembering that the stock has experienced some ups and downs; shares were cut in half just last month after a dispute between the company and a contractor working on the project.