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Makaband

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  • Pretium Resources: A Sell-First Mentality May Be Causing Investors To Overlook Positive News [View article]

    VU-346

    26m @ 334g/t: inc 0.5m @ 17100g/t, 0.5m @ 79g/t and 0.5m @ 96.1 g/t.
    So whats in the other 24.5m of this intercept? ((26*334-17100*0.5-79*... = 1.89g/t


    VU-313

    27.57m @ 149.45g/t: inc 0.5m @ 328g/t and 0.5m @7850 g/t.
    Over the other 26.57m of this intercept the grade is 1.18 g/t ((27.57*149.45-0.5*328...

    These intercepts are hardly representative of the whole ore body, especially as “on average there is one in every 550 meters of 2013 drilling”.(Strathcona)
    Oct 28 01:57 AM | 1 Like Like |Link to Comment
  • Snapback rally for Pretium after positive results [View news story]
    VU-346

    26m @ 334g/t: inc 0.5m @ 17100g/t, 0.5m @ 79g/t and 0.5m @ 96.1 g/t.
    Whats in the other 24.5m of this intercept? ((26*334-17100*05-79*0... = 1.89g/t


    VU-313

    27.57m @ 149.45g/t: inc 0.5m @ 328g/t and 0.5m @7850 g/t.
    Over the other 26.57m of this intercept the grade is 1.18 g/t ((27.57*149.45-0.5*328...

    Couple of good veins but the rest is not particularly economic for an underground mine.
    Oct 27 10:24 PM | Likes Like |Link to Comment
  • Pretium Resources: A Sell-First Mentality May Be Causing Investors To Overlook Positive News [View article]
    Here is an interesting blog on the Pretium resource/bulk sampling here:

    http://bit.ly/16v09lg

    All this was written before any of the bulk sampling took place, but it does ask an important question, why are Pretium doing the bulk sampling after releasing the pre-feasibility study, surely this should have been done before hand?
    Oct 24 05:25 AM | Likes Like |Link to Comment
  • Pretium Resources: A Sell-First Mentality May Be Causing Investors To Overlook Positive News [View article]


    I had a quick look through the PFS available on the Sedar website, and the drillhole spacing used by Snowden to represent an Indicated resource is 20m by 20m or 20m by 40m, and measured as 5m by 5m. As Strathcona have stated…

    "…There are no valid gold mineral resources for the VOK Zone, and without mineral resources there can be no mineral reserves, and without mineral reserves there can be no basis for a Feasibility Study."

    "The infrequent high-grade intercepts reported in the press releases have been shown in the underground exposures of the bulk sample program to usually be of very narrow width (0.5 meters) and associated with narrow geological structures that occasionally have mineable continuity as in the case of the Cleopatra Vein."

    To be indicated the drill holes should be “spaced closely enough for geological and/or grade continuity to be assumed”. I think basically Strathcona are saying that the drill hole spacing is not enough, and there isn’t enough confidence in the geology to give it an indicated classification, thus the PFS doesn’t hold. There are obviously high-grade veins but there continuity is in question.

    Snowden can always argue they have enough geological knowledge, but it all depends on how much risk Pretium want to take with the resource as there is no definitive rule on resource classification.
    Oct 24 01:59 AM | 4 Likes Like |Link to Comment
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