- Pretium Resources (PVG) is a logical takeover candidate in the next 12-18 months due to the promising outlook for its Brucejack project, CIBC analyst Jeff Killeen says.
- Even using a lower operating rate than company projections, CIBC thinks Brucejack could produce 300K-plus oz./year of gold, which would provide meaningful production growth to a range of producers; "bottom line is that we believe the scarcity value of high-grade development projects like Brucejack garner higher acquisition multiples, which value the underlying project at or near intrinsic value."
- Killeen thinks PVG could attract a multiple of ~1x NAV, and raises his share price target to $11.50 from $9.50.
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at CNBC.com (Dec 21, 2010)
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