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Pretium Resources: First Quarter 2021 Analysis

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  • Revenues for the 1Q'21 were $142.43 million, up 12.5% compared to the same quarter a year ago. Net income was $26.6 million or $0.14 per share compared to $8.77 million.
  • In the first quarter of 2021, the Brucejack Mine produced 85,795 ounces of gold, and the company sold 81,707 ounces at an all-in sustaining cost of $1,005 per ounce.
  • I recommend buying PVG below $10.50.
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Gold nuggets the hands of the miner. The working hands of a peasant with pure gold. top view
Photo by spfdigital/iStock via Getty Images

Investment Thesis

Vancouver-based Pretium Resources (PVG) released its first-quarter 2021 results on May 4, 2021.

Revenues for the 1Q'21 were $142.43 million, up 12.5% compared to the same quarter a year ago. Net income was $26.6 million or $0.14 per share compared to $8.77 million or $0.05 per

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This article was written by

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Fun Trading is a retired engineer and independent investor. In addition to writing on investing in all aspects of gold, oil, and gas, he runs his own portfolio..

Analyst’s Disclosure: I am/we are long PVG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I own a small long position at below $10, and I trade short-term PVG regularly.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (8)

fazsha profile picture
@Fun Trading Why is the ore body particularly challenging - you did not expand on that point. Is it specific to Brucejack, or does it extend to all Golden Triangle companies?
Fun Trading profile picture

Yes, I have explained it in many previous articles. To say it, the ore body is irregular with zones of high concentration and nothing in between.
I wish a geologist can explain what is happening, but this issue has been with the Brucejack since the beginning with many controversies.
Especially Snowden against Faraqhuson, who quit and was the one who understood the ore body. Snowden was retained because they were going for the best outlook, of course wrongly. Here an article on PVG I wrote in March 2014...


It is particular to the Brucejack, and if you look a few years back, you can see that the g/t was supposed to be at 14+g/t and is now just above 8 g/t. They have tried to adapt stopes etc...

I hope it helps.
fazsha profile picture
@Fun Trading Hedgeless Horseman was just complaining about the irregularity of New Found Gold, which has already located the bonanza zone at Keats; they still do very close spaced drilling and despite this they, again, do get LOW GRADE hits right next to BONANZA hits…

So if that's happening in Newfoundland it probably happens in a lot of places.

Fun Trading profile picture

Yes, you are right it is more frequent than believed. The issue is happening with high-grade bodies with bonanza occurrences. So far, PVG has stabilized at a decent level, hopefully, it will hold.
razztraffic profile picture
Does the author or others see a dividend anytime soon in PVG's future? I mean, if they keep beating down the debt as they have been, they should be debt free before the end of the year, or nearly so. Thoughts, anyone?
Fun Trading profile picture

I think a dividend is very possible in H2 2021, in my opinion.
razztraffic profile picture
@Fun Trading Thanks for your thoughts on the possible dividend. For long time shareholders such as I it would - finally - be some validation for holding on as many years as most of us have. R
Fun Trading profile picture

Yes, I understand. However, I do not see a large dividend, possibly something of 1% or 2% max.
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