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GOLD: Pretium drills deep, begins regional exploration program
http://www.canadianminingjournal.com/news/gold-pretium-drills-deep-begins-regional-exploration-program/
Today’s PR:
Pretium Resources Inc.: Underground Exploration Drilling Intercepts Gold Mineralization at Depth; 2019 Grassroots Regional Exploration Commences
Transcript of the conference call
https://www.fool.com/earnings/call-transcripts/2019/05/03/pretium-resources-inc-pvg-q1-2019-earnings-confere.aspx
Dont sweat the small stuff. PVG has the gold. They explained that the first two quarters of 2019 would be relatively low grade. Even their low grade is higher than many miners. They are spending money right now on upgrading and preparing for higher rates of input into the mill. Much of this can not be capitalized and goes right into the cost of goods. This is one of the reasons the aisc went up. Give this company until the end of the year and I believe the price per share will be well above its all time high even at the current (or even a little lower gold price). JMHO
Looks like in spite of missing the financial numbers, investors liked the progress being made on the expansion and other information in the quarterly. Over 1 MM shares in the first half hour and PVG has regained all the loss of the past 10 days.
Actual earnings 0.02 vs 0.08 last quarter and 0.04 anticipated.
Mill feed grade was down to 8.7 gm/ton. They said it would be down but I believe this was below expectation. Fortunately, they milled 3279 tonnes/day!!
Looks like another instance with earnings leak in advance of report - two 3MM share days with stock price falling from 7.6 Tuesday to 7.09 in advance of the report (which wasn't anticipated until later in May per Fidelity.)
pvg is about ready to go to the moon, over the next five years. This stock will be 50 bucks or bought out, one or the other. It has everything. this little 12 buck to 7 buck thing the past couple years, is about to end. If it lengthens the strike length by what appears to be the case, or confirms another target which is a fifty fifty coinflip, all bets are off...that is huge upside
my 2c
safe, soon 520K ounces, costs in two years will be around 700 bucks
POG at 1400 = PVG share price 13
POG at 1500 = PVG share price at 16
POG at 1600 - PVG 22
POG at 1700 = PVG 30
and so it goes...........
Gold will be about 2000 in under 4 years from now. give or take.
think about it.
Production Ramp-up and Underground Exploration Drilling Campaign on Track
https://finance.yahoo.com/news/production-ramp-underground-exploration-drilling-214448279.html
News: $PVG Pretium Resources Inc: Continued Robust Economics of Brucejack Mine Confirmed with Updated Mineral Reserve and Resource, 14-Year Mine Plan
VANCOUVER, British Columbia, April 04, 2019 (GLOBE NEWSWIRE) -- Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) announces an updated Mineral Reserve (the “2019 Mineral Reserve”) and Mineral Resource (the “2019 Mineral Resou...
Find out more https://marketwirenews.com/news-releases/pretium-resources-inc-continued-robust-economics-of-brucejack-mine-confirmed-with-updated-mineral-reserve-and-resource-14-year-mine-plan-7943842.html
Production Ramp-up and Underground Exploration Drilling Campaign on Track
Date :
04/03/2019 @ 5:44PM
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.
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"As the mine continues to sequence through a lower grade area of the Valley of the Kings, all stopes above cut-off grade of approximately 5.0 grams per tonne gold are being mined as they become available for production. Accordingly, gold grade is expected to average approximately 10.4 grams per tonne over the course of 2019; both grade and tonnes are expected to be higher in the second half of the year. "
Seems word may have gotten out early again and this may be the reason for the decline in share price over the past few days???
It all looked good to me.
Didn't see anything in the Annual Report that wasn't already known information. Looks like they continue to execute their plan to increase plant throughput.
Annual Report (foreign Private Issuer) (40-f)
Date : 03/29/2019 @ 5:24PM https://ih.advfn.com/stock-market/NYSE/pretium-resources-ordinary-shares-canada-PVG/stock-news/79588767/annual-report-foreign-private-issuer-40-f
Pretium Resources : Independent Counsel Concludes Pretivm-Initiated Investigation
"there is evidence of instances of market manipulation in trading of Pretivm shares by an outside party or parties. The findings of the investigation, summarized below, have been turned over to the US and Canadian securities regulators for possible further action relating to the evidence of market manipulation"
https://www.marketscreener.com/PRETIUM-RESOURCES-INC-7054964/news/Pretium-Resources-Independent-Counsel-Concludes-Pretivm-Initiated-Investigation-28211213/
I believe we will find out that the manipulators were the same shorters that kept re-publishing old information to drive the price down.
Independent Counsel Concludes Pretivm-Initiated Investigation
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports that independent legal counsel and a consultant retained to investigate recent trading in its shares have reached two clear, main conclusions. First, the investigation found no evidence of an information leak by the Company. Second, there is evidence of instances of market manipulation in trading of Pretivm shares by an outside party or parties. The findings of the investigation, summarized below, have been turned over to the US and Canadian securities regulators for possible further action relating to the evidence of market manipulation.
Pretivm initiated the external investigation into unusual trading of its shares
Pretivm engaged independent legal counsel to examine unusual trading activity in its shares leading up to its news release dated January 9, 2019. The investigation comprised an examination of a) Pretivm’s internal and external communications, and b) trading in Pretivm common shares and derivatives. Independent legal counsel was provided with complete and unrestricted access to all Pretivm internal and external communications for the review.
No evidence of information leaks from Company
The independent investigation of Pretivm’s communications found no evidence of a leak of confidential information to market participants. In addition, Pretivm’s disclosure policies and procedures were reviewed and found to be compliant with all applicable laws and in conformance with best practices. As a result of the investigation, the independent legal counsel recommended minor revisions to the Company’s policies and procedures. These recommendations have been adopted by the Company.
Evidence of market manipulation through abnormal, high volume sell-side common share order cancellation during trading; sharp rise in open interest of short-dated put options leading up to September 6, 2018
As part of the investigation, the independent counsel retained a consultant to examine the trading in Pretivm’s shares and derivatives leading up to Pretivm’s January 9, 2019 news release, and additionally for trading leading up to and including September 6, 2018 when Pretivm’s share price decreased sharply. In the opinion of the independent consultant, there is evidence of market manipulation in trading of Pretivm shares based on a review of executed, created, cancelled and outstanding sell orders in Pretivm’s shares during both periods of review. In analyzing trading in Pretivm’s shares, the consultant identified an unusually high volume of odd-lot orders, and patterns of massive blocks of sell orders created and cancelled in rapid succession (within the same second) below and above the best offer. In one key finding in respect of the abnormal volume of order cancellations, on September 6, 2018 sell orders for over 700,000 PVG shares were created and cancelled within the two, one-minute intervals between 11:45 AM and 11:47 AM EST. (By way of comparison, sell orders for an average of 4,297 PVG shares were created and cancelled for each minute of trading between July 1 and July 31, 2018.)
In reviewing PVG option trading from August 1, 2018 through to September 5, 2018, the consultant identified an unusually sharp rise in both the put-to-call ratio and short-dated put to long-dated put ratio leading up to the share price drop on September 6, 2018.
Reports forwarded to US and Canadian securities regulators for possible further action
The independent legal counsel retained by Pretivm has completed its investigation into the trading of Pretivm shares, and has forwarded all reports to US and Canadian securities regulators. Pretivm will cooperate with the securities regulators to its fullest extent in their review of trading in shares of Pretivm.
Good point, I didn't catch the Canadian $.
That is C$19.35 which is only US $14.51. I am hoping it surpasses that, and believe it will.
Pretium Resources started at buy with $19.35 stock price target at B. Riley FBR
MarketWatch – 03/01/2019
Analysts expect Pretium Resources Inc. (TSE:PVG) to report $0.27 EPS on March, 14.They anticipate $0.18 EPS change or 200.00 % from last quarter’s $0.09 EPS.
https://reurope.com/2019/02/18/pretium-resources-inc-pvg-analysts-see-0-27-eps/
Thanks wshaw! Saw that they will begin share buybacks starting in 2020. Also, with projected rise in goldprice, we'll see even better profit margins for 2019. Oh, its gonna be a golden year for PVG...
If you notice, they held back quite a bit of gold and silver in Q4. If they had sold all of the production things would have looked even better. I noticed seekingalpha posted an article stating they beat on profit but missed on revenue. It seems that folks do not have enough sense to look at the production numbers and compare to the sales. My guess is that is why the sell off. This is fine because it gives me the opportunity to buy a few more.
Looks good to me. Slow and gradual increase with potential for dividends in 2020.
Pretivm Reports 2018 Results and 2019 Outlook
https://www.pretivm.com/news/news-details/2019/Pretivm-Reports-2018-Results-and-2019-Outlook/default.aspx
Been in with 4K shares since Aug 2017. Had hoped the additional tonnage increase that was only recently approved(after almost 1 year of applying to the Mining Ministry) would certainly create more positive shareholder support. I've heard through the "vines" about a shorter - here's hoping he gets careless and gets caught manipulating. This is a good, solid startup mining company with great potential for additional strikes...(once it thaws out).
Get Ready for Gold’s Next Leg Up by Investing in Pretium Resources Inc. (TSX:PVG)
https://ca.finance.yahoo.com/news/ready-gold-next-leg-investing-132148086.htm
Also keep in mind that there is a professional shorter out there that is using all of the tricks in the book. There was no reason for the stock price to drop today.
Is anyone expecting surprises from the report on Feb 14? Would've thought PVG share price to be increasing with the bullishness of gold price within recent 60 days...
Per the SEC statement by Blackrock, they own 23.4MM shares of PVG, 12.8% of the shares.
Don't know whether this is a change from previous statements.
I expect the share price will be much higher in 2019 unless gold prices collapse. Even without the expansion I expect production will become stable in the 100-120,000.(and I do expect the expansion) Most mining companies have a few hic-ups along the way when beginning production. It takes a few quarters to get everything worked out. Also keep in mind that some folks with ulterior motives have been damaging the company and share price with false rumors.
Using 3rd Q adjusted earnings per share of 0.14 x 4 = 0.56/share annually, and the current $7.29, the P/E is 13 - relatively low. See what 4th Q earnings come in at - anticipated Feb 14.
Considering 3rd Q gold prices were on the low side, projected earnings could support a higher share price in 2019, IMO.
01/23/2019 Presentation https://www.pretivm.com/investors/presentations/default.aspx
Has there been News?
Opportunity to buy more. I appreciate the re circulation of old false news by folks that have an interest in driving the stock price down. More opportunity for me. PVG will prove its self over time.
Where is the bottom, PVG is getting clobbered!
Have to start making sense of the chart again.
Normal pullback target zone should be around 7.75-8.00.
50ma is around 7.60 and 200ma is around 8.05
resistance shoulder zone around 8.30-8.60 looks like a capping zone. previous rallys coming off a short attack retested the 9 dollar area. but step by step the climb back up will hit resistance pressure, and pullbacks will need to find support. This plunge will need to target 8 dollars again and hold the pullback at 7.50 when the time comes. Nothing has changed for targets up and down since the previous short attack. If anything, traders will see a Range Pattern developing here ,to buy anything below 7 and sell close to 9. seems like a sensible trading plan. I was ready to trim trading share profit as soon as it would hit 9.00-9.30 area, But it got hammered down from 8.90. Now ,at 7 dollars and lower,I'm buying some more trading shares, to sell at 8.80 next time.
shorts like to attack, and give loyal buyers another bargain to buy
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Pretty amazing that we are both on the same boards. Maybe it indicates a common thread outside of iHub. Anyway this company has been gripped by fear porn before over fundamentally the same issue The issue was uncertainty about what the average grade at the mine would be given that the gold is so concentrated in the major veins. What the company needs to address is the fear that they are cherry picking the veins and will run out of gold quickly. The management has always been straight shooters in my Pinyan or they would not have survived The fudge that has been thrown at them over the years. Also overhanging the gold stock market is the fear that Gold will crash along with the regular market. Many including myself don’t think that will happen this time but of course nobody can be sure. In my opinion the company has too many positives to ignore that could come over could overcome the negative‘s including expiration results both horizontally and vertically that could translate into reserves and then into production in the larger picture of the total amount of gold in the world is now worth about $10 trillion. The total debt in the world it’s $220 trillion. The deck will not be paid it will either be defaulted on and there will be a Euge depression or it will be monetized and there will be high inflation. At least that’s the theory we been going on for a long time The positive side of the macro view has been our downfall as we await the dénouement. The exploitation her use of very low-cost labor opened up in the 90s and the incredible explosion of technology has mask some of the real inflation in the quantity of money. Wilsee
Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports that it has retained independent legal counsel to initiate an investigation of unusual trading activity in its shares.
Friday is usually end of week sell off day, I'd like to pick up some PVG under $6.50 next week.
I bought some more today at 7.20 as well.
Not buying the fear porn ...(yet)
Watching for the bounce to hit resistance zone around 8 dollars and then the battle in that area. wont be selling any there, just watching it play out. Will buy some more in the 6's if it falls more. I dont care for the blogs of fear porn. show me the drill results and the management explanation,and their plan, and their full reports of the mine development. just like last time they got attacked (by Viceroy).The truth will win out, and IF there is real trouble and devious practices,I will bail when the right time comes. not yet.
We could use a press release from Management now.
Management,please explain whats going on
and so This is the reason??? to panic? Read the freakin report. Its written in Plain Canadian English.
https://www.pretivm.com/news/news-details/2019/Pretium-Resources-Inc-Brucejack-Mine-2018-Production-Update/default.aspx
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AddeD more shares @ 7.22. GLTA
Pretium (PVG) is an illegal, fraudulent operation...
1/9/19
...as today has proven that to the satisfaction of anyone with a stock market brain. As noted this morning when PVG suddenly fell of a cliff on XXL volumes, "If this dump today turns out to be yet another leaky boat moment from PVG and Q4 production comes in weak, I don't see how we can ever trust this company again."
And sure enough, it was. And we cannot, because they perpetrated a fraud in front of our eyes. The 96,342oz production on poor average head grade missed the target, one that was reiterated mere weeks ago, by over 10k oz and if the playing field were level every penny of the drop we saw today would be in tomorrow's trading. But it's not, because this is Canada and the crooks behind this scheme can get away with murder. It's not as if it's the first time insiders have been tipped off on PVG results before the rest of us and piled into the market for the stock either, just two quarters ago we saw the same type of suspicious pre-announcement activity in the market and sure enough, the ones with the secret information were on the right side of the trade.
Now I know some of you out there will go "Yeah it sucks, leaky boat, it's the way it is" and leave it at that, but it's high time these scumbags stopped getting away with it. What we saw today in PVG is illegal insider trading, a criminal offence that should be investigated, the perps prosecuted and sent to jail. And what about all today's trades being rolled back, how about a little justice into this crooked game? As for PVG, as a repeat offender, it should have the book thrown at it by the Canadian regulatory authorities. If they start with the CEO (buck stops here and all that) and find out who inside PVG has been tipping their friends off. This fraud has cost retail investors (you and I) millions of dollars today and it's not as if those dollars have somehow disappeared into thin air, as for every party there's a counterparty and what you have lost, that one with the solid data in their hands six hours before the rest of us has won.
Pretium (PVG) can no longer hide behind a "won't happen again, honest" defense because it HAS happened again, what's more on a much larger scale than before.
https://incakolanews.blogspot.com/2019/01/pretium-pvg-is-illegal-fraudulent.html
I like PVG as well.
was just wondering what caused this big plunge.
Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports full year and fourth quarter 2018 gold production results and summary for its underground Brucejack Mine.
Fourth Quarter 2018 Production Summary
96,342 ounces of gold produced
Full Year 2018 Production Summary
376,012 ounces of gold produced
Fourth Quarter 2018 Company Highlights
Repurchased 100% of the construction financing 8% precious metals stream for US$237 million
Closed US$480 million bank debt facility to refinance construction credit facility
Received amended permits to increase production to 3,800 tonnes per day
Ended the quarter after repurchasing the stream with a cash position over US$45 million as of December 31, 2018
“We ended 2018 on a successful note with the closing of the bank debt facility, repurchase of our precious metals stream, payout of our construction credit facility, receipt of amended permits to increase production to 3,800 tonnes per day and production of over 376,000 ounces of gold, all in our first calendar year of production which included six months of ramp up,” said Pretivm President & CEO Joseph Ovsenek. “Our successes can be attributed to the hard work of our team and the consistent profitability of the high-grade Brucejack Mine - the cornerstone of our plan to build Pretivm as a Tier 1 Canadian gold producer.”
2018 Gold Production at Brucejack
Commercial production commenced at the Brucejack Mine in July 2017, with ramp-up continuing into the first half of 2018 and steady-state production achieved in July 2018. Key advances over the course of mining in 2018 have included the implementation in the first quarter of the grade control program into short-term mine planning.
Mr. Ovsenek continued “As we have discussed in the past, the high variability of the gold mineralization throughout the Valley of the Kings deposit is a key characteristic of the Brucejack Mine and gold production is managed with grade control, the sequence of the mine plan and the availability of stopes for optimal grade blending. As we continue to generate significant cash flow, we will build on what we have learned mining the gold mineralization at the Valley of the Kings over the first six quarters of production to further refine our grade control program and mining methods in order to reduce dilution and optimize grade to the mill.”
During the fourth quarter, the grade control program over-called actual mill production of 96,342 ounces of gold, resulting in the mine producing 188,983 ounces of gold for the second half of 2018, or 95% of gold production guidance of 200,000 ounces. The grade control program will continue to be refined over the coming quarters to improve short-term grade estimation and predictability. The mine produced 376,012 ounces of gold for the full year 2018, achieving 97% of gold production guidance of 387,000 ounces.
A review of mining methods is underway to potentially reduce dilution and development costs with the use of longitudinal long-hole stoping.
2019 Catalysts
A specific timeline for ramp-up to the 3,800 tonnes per day production rate, along with production and cost guidance for 2019 is expected later in the quarter. Minor mill upgrades to support the production rate increase are required and will be completed during regularly scheduled mill shutdowns.
Grade reconciliation for 2018 and updated Mineral Resource and Mineral Reserve estimates for the Brucejack Mine will be provided later this quarter or early next quarter.
Lyle Morgenthaler, B.A.Sc., P.Eng., Chief Mine Engineer, Pretium Resources Inc. is the Qualified Person (“QP”) responsible for Brucejack Mine development. Warwick Board, Ph.D., P.Geo, Pr.Sci.Nat., Vice President, Geology and Chief Geologist, Pretium Resources Inc. is the QP responsible for the Brucejack Mine grade control program and the Brucejack Mine exploration drilling.
Fourth Quarter 2018 Operational and Financial Results – Webcast and Conference Call
Pretivm plans to release its fourth quarter and year-end 2018 operational and financial results after market close on Thursday, February 14, 2019. The webcast and conference call to discuss these results will take place Friday, February 15, 2019 at 8:00 am PT (11:00 am ET).
It is already back up to 8.1201 in after hours. Glad I picked up a few more today. As I said before, to worry about a company producing at the rate and grade such that PVG is silly. (even without the coming expansion) JMHO
a Hiccup??
looks more like a Burst Appendix to me. lol
Lol, for somebody to call nearly 400K ounces a year poor is laughable.
Even if production does not improve (I believe it will) Pretivm will be quite profitable. Then we eventually have the increase from the expansion. Just like any startup it does take time to reach maximum potential.
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PRETIVM’S BRUCEJACK IS THE HIGHEST-GRADING UNDEVELOPED LARGE-SCALE GOLD PROJECT. LOCATED IN NORTHERN BRITISH COLUMBIA, IT IS BEING ADVANCED AS AN UNDERGROUND GOLD MINE WITH COMMERCIAL PRODUCTION TARGETED FOR 2017.
Pretium Resources Inc. TSX/NYSE:PVG
BRUCEJACK PROJECT
High-Grade Gold Reserves
Proven and Probable Mineral Reserves for Valley of the Kings (at June 2014): • 6.9 Million ounces gold (13.6 Mt @ 15.7 g/t gold)
Brucejack Project Milestones
2014: Plans: Advance permitting; plan and implement underground exploration program; planning excavation of 1,000 tonnes of high-grade ore.
2014: Filed Environmental Assessment Certificate application and updated Feasibility Study (June 2014).
2013: Updated Valley of the Kings Mineral Resource estimate (December); completed Valley of the Kings 10,000-tonne bulk sample program and underground exploration drilling; completed Feasibility Study (June);
initiated permitting for an 2,700 tonnes per day underground mine.
2012: Updated high-grade Mineral Resource estimate; initiated Feasibility Study; initiated exploration decline from West Zone historic workings to Valley of the Kings; filed Project Description and completed access to Highway 37.
2011: Completed first Mineral Resource estimate for Brucejack and conducted a 72,144-meter drill program focused on the Valley of the Kings.
2010 Dec: Pretium Resources Inc. acquired Brucejack Project and Snowfield Project from Silver Standard Resources Inc. for C$450 million; Pretium IPO on TSX.
2009-2010: Exploration resumed, discovery of the Valley of the Kings.
1999-2000: Acquisition by Silver Standard Resources Inc.
1993: Mine Development Certificate issued.
1990: Feasibility Study completed for West Zone.
1986-1989: Underground development of West Zone (5,276 meters).
1980-1985: West Zone discovery by Newhawk/Granduc.
HIGHLIGHTS
Issued and Outstanding Shares: | 115,307,377 |
Options: | 10,351,950 |
Fully diluted | 125,659,327 |
Silver Standard Resources Inc. | 18.07% |
Royce & Associates | 6.71% |
Liberty Metals & Mining Holdings | 6.52% |
Sun Valley Gold, LLC | 4.29% |
Aristeia Capital, LLC | 3.45% |
Robert Quartermain | 2.72% |
Franklin Advisers, Inc. | 2.53% |
Norges Bank Investment | 2.34% |
TD Asset Management | 1.88% |
Sprott Asset Management | 1.69% |
Fidelity Management & Research Company | 1.35% |
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