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Pretium arranges $40-million Liberty private placement
2013-04-23 03:15 ET - News Release
Mr. Robert Quartermain reports
PRETIVM ANNOUNCES STRATEGIC INVESTMENT BY LIBERTY METALS & MINING
Pretium Resources Inc. has entered into a subscription agreement with Liberty Metals & Mining Holdings LLC, a subsidiary of Boston-based Liberty Mutual Insurance, to issue to LMM by way of a private placement 5,780,346 common shares of Pretium at a price per share of $6.92 for gross proceeds of approximately $40-million. The purchase price is based on the volume-weighted average price of Pretium's common shares on the Toronto Stock Exchange for the 20 trading days ended April 19, 2013. The offering is scheduled to close on or about April 26, 2013, subject to regulatory approvals.
Pretium intends to use the proceeds of the offering to finance work at its Brucejack project, including the completion of the planned 10,000-tonne bulk sample and underground drilling program at the Valley of the Kings, permitting activities, and the acceleration of other activities which will advance the high-grade gold Valley of the Kings into development.
Pursuant to the subscription agreement, LMM will be entitled to nominate one person to be appointed to the board of directors of Pretium and will have a pre-emptive right to participate in any future equity financings of Pretium.
LMM is not permitted to trade the purchased shares for a period of four months plus one day from the closing of the offering.
We seek Safe Harbor.
Int'l Speculator says hold or buy Pretium
2013-04-18 17:21 ET - In the News
The International Speculator, in its April 4, 2013, issue, says hold or buy Robert Quartermain's Pretium Resources Inc. at $7.56, officially, "Hold/buy first tranche/prepare stink bid." The newsletter said buy on Feb. 7, 2011, at $6.42. It then said sell some -- perhaps half -- on March 4, 2011, at $12.33. Assuming a $1,000 investment, the half sell yielded a one-month profit of $439 and left shares, which cost $500, worth $949. It then said buy three more times between Sept. 5, 2011, and Dec. 6, 2012, at prices ranging from $9.96 to $16.69. Assuming three more $1,000 purchases, and taking into consideration the $500 investment remaining from the Feb. 7, 2011, sell, the $3,500 position is worth $2,336. The writer notes that Pretium has around $26-million in cash and he says the stock is "on sale." The company continues to make progress on its Valley of the Kings project, part of the Brucejack gold property in Northern British Columbia. The focus of activity is its very high-grade gold deposit underground. Fellow newsletter writer Jay Taylor said buy Pretium three times between Jan. 17, 2011, and Sept. 17, 2012, at prices ranging from $6.45, to $15.55, in his Gold, Energy & Tech Stocks.
Thanks much dr airtime for your thoughts. They are very much appreciated and I look forward to other board member thoughts as well. Good or bad! RIO.TO/RIOM was new to me today and that’s a pretty rare thing nowadays with how closely I follow this sector. Will likely look to initiate a position soon along with at least one other name on that list. Tough times here and would be nice to see a base form first but a V pattern on the charts probably much more likely. Problem is deciding where to catch that knife!
I am interested in PGM as well but due to jurisdiction risk I am much more favorable towards Prophecy Platinum Corp. (NKL.V). However they will need a financing and the share price will likely remained pressured until then. It's on my watch until they accomplish that.
http://ceo.ca/pvg/
Pretivm Resources – Bob Quartermain Interview
Alright I’ve updated my napkin calculations to include as many companies as possible…
High amounts of debt, market cap, and shares out are red flags for me, as are potentially problematic mining districts. I look for reasons to discard companies as potential investments. Quick back of the envelope analysis of all of the gold mining companies I could think of. Who to add to the list to look into? Anyone have any red flags for those that so far remain as potential investments?
Trading symbols are AMEX if available, Toronto otherwise
Potential: AR.TO GORO LODE MND.TO RIOM TGD
AR.TO – no debt, 149M shares out, 874M market cap, ramping up production
GORO - No debt, 52M shares, 498M market cap, pays a dividend, overpromised on production, has short seller campaign against it with baseless lawsuits, no Proven and probable reserves, but does have a 43-101
LODE – 14M debt, 57M shares out, 107M market cap, small producer
MND.TO – no debt, 325M shares out, 289M market cap, smallish producer, low reserves?
TGD – debt just 20M, 144M shares out, 327M market cap, Mexico, 100,000 Oz production in 2012, increasing to 130,000 Oz in 2013
RIOM – debt only 3M, 176M shares out, 598M market cap, Peru, low cash cost due to copper, La Arena contains 3.9 million ounces gold and 2.0 billion pounds copper
Red Flags…
For Large Cap (Over $1B): ABX AEM AGI AU AUQ AUY BTO.TO BVN EGO FCX FM.TO FNV GFI GG GOLD HMY IAG KGC NEM NGD NSU RGLD TRQ
For Debt: ANV BAA BRD CGR CRK.TO III.TO KGI.TO LSG OSK.TO
For Jurisdiction: CG.TO DRD EGI GSS ORV.TO PSU.TO SMF.TO TRX
Losing Money: RIC
Gold streaming: SAND
Not Producing: AAU JAG KBX LON MDW MGH MUX NAK NG PVG PZG SA THM TLR VGZ XPL XRA (I still love PVG though)
Soon Producing: RBY
Exploring: AGC.V BAT.V CBI.V EPZ.V GQC.V MXI.V NUS.TO PEM.V SBB.TO SOL.V TXX.V, many, many more
Royalty: AMB.TO EMXX
Silver: AG ASM AUMN AUN.V AXU BCM.V CDE EXK FSM GPL HDA.V HL IMZ.TO IPT.V MGN MSV.TO MVG PAAS RVM SBB.V SIL SLW SPM.TO SSRI SVBL SVL.V SVM
High amounts of debt, market cap, and shares out are red flags for me, as are potentially problematic mining districts. I look for reasons to discard companies as potential investments. Quick back of the envelope analysis of the 10 companies mentioned in that article:
Kirkland Lake – debt 148M
Osisko – debt 337M
Lake Shore – debt 130M
B2Gold – no debt, but 646M shares out, 1.4B market cap fully valued?
Perseus Mining – no debt, 458M shares out, 591M market cap, but West Africa
Timmins – debt just 20M, 144M shares out, 327M market cap, Mexico, 100,000 Oz production in 2012, increasing to 130,000 Oz in 2013
Crocodile Gold – debt 75M
Rio Alto – debt only 3M, 176M shares out, 598M market cap, Peru, low cash cost due to copper, La Arena contains 3.9 million ounces gold and 2.0 billion pounds copper
Brigus – debt 99M
Alamos – no debt, but 1.4B market cap fully valued?
Looking further into Timmins and Rio Alto, discarding the 8 others - who to add to the list to look into? Anyone have any red flags for Timmins and Rio Alto?
Interesting piece on: Junior gold crash: cash costs come calling
http://www.mineweb.com/mineweb/content/en/mineweb-junior-mining?oid=186805&sn=Detail
So... who's the most attractive junior gold producer buy right now? I'd say it would have to be one without debt given the current environment. Probably a pretty small list. Any suggestions off hand?
Just as FYI - GORO is currently paying a 6 cent dividend, and was paying 4 and 5 cent dividends in 2011 when gold and silver were last at these levels.
What do you have against GORO management team?
The fact that they IPOed at a dollar and steadily climbed to almost $30 over the next five years?
The fact that they brought a mine into production without a costly feasibility study that handcuffs most other companies and projects from ever becoming a mine?
The fact that they've managed to keep a tight share structure?
No debt?
The fact that they've paid back more in dividends than ones initial investment if they held for any decent period of time?
Obviously they've run into some hiccups over the last year as any, pretty much every mining company has, but overall they have done a terrific job in my opinion.
I was in early and sold too early, but not too late thankfully. Have had no interest for several years, but I still respect a company that produces gold at a low cost, with no debt, no warrants, pays dividends, and still has promising exploration potential.
I'm hearing that 500 tons of paper gold was sold.
Also heard that MERRILL LYNCH said to have sold 4 million ounces of gold on COMEX opening.
500 TONS!!!!! That was the limit for central bank gold sales for an entire year! Still is I think, except for the fact the central banks have been net buyers recently. And some people think these markets are not manipulated. jeesh.
Capitulation bottom, I hope.
FP says Pretium wins Bill Dennis Award at PDAC
2013-04-08 06:55 ET - In the News
The Financial Post reports in its Saturday, April 6, edition that the Prospectors and Developers Association of Canada (PDAC) recently celebrated the recipients of its 2013 awards for outstanding contributions and excellence in the mineral industry. The Post's Amoryn Engel writes that recipients of the 2013 awards were honoured at the PDAC awards evening at the Fairmont Royal York Hotel in Toronto. The Post reports the awards evening takes place every year during the PDAC Convention. PDAC is a national association representing the mineral exploration and development industry, with more than 10,000 individual and corporate members. The PDAC convention is the mineral industry's largest annual assembly attracting more than 30,000 delegates from 125 countries in 2012. Pretium Resources ($6.96) was one of the 2013 award recipients. It was the recipient of the Bill Dennis Award for a Canadian mineral discovery or prospecting success. Pretium is receiving the award for advancing the Brucejack property's Valley of the Kings, discovered in 2009, into a world-class, high-grade gold deposit. Pretium shares have a 52-week range of $16.74 to $6.48.
ORT.TO +22.68% $1.19 on 4X volume! I have yet to take a position but an encouraging sign. I think I will wait until financing is announced before diving in.
Someone should tell the miners that gold is up $25 today
Orbite Responds to Recent Trading
EORBF -$0.27 $1.10
http://finance.yahoo.com/news/orbite-responds-recent-trading-174833889.html
MONTREAL, QUEBEC--(Marketwired - Apr 2, 2013) - Orbite Aluminae Inc. (ORT.TO)(EORBF) ("Orbite" or the "Company") confirms that the Company is not aware of any material information that would justify the recent share price movement. The Company has issued this press release following unusual trading that occurred after the market open this morning and as a result of IIROC's halt.
The Company would like to take this opportunity to summarize pertinent information that was included in its consolidated annual financial statements, management discussion & analysis (MD&A), and annual information form (AIF) for the year-ended December 31, 2012, all of which were filed on March 28, 2013.
The highlights of the year-end financials as of December 31, 2012, or for the year-ended are:
•Cash and Cash Equivalents of $40.2 million
•Total Current Assets of $48.5 million
•Accounts Payable and Accrued Liabilities of $28.6 million
•Comprehensive loss of $16.9 million or $0.09 per weighted average shares outstanding
•Cash flows used for operating activities of $11.9 million
•Cash flows from financing activities of $30.4 million
•Cash flows used for additions to PP&E of $40.1 million
•Cash flows used for additions to exploration and evaluation assets of $11.2 million
Outlook for Cap-Chat HPA Plant
Orbite owns and operates a facility in Cap-Chat, Québec, that was originally operated as a pilot plant up to and until March 2012. The 2,600 m2 pilot plant has since been converted into a full-scale 5,903 m2 high-purity production plant, designed to produce alumina at a purity level of 99.99% ("4N") and greater, which began commissioning on December 18, 2012. On January 22, 2013, Orbite announced that it had produced and independently verified the production of one tonne of HPA.
Although the commissioning and optimization activities are expected to continue further into 2013 than the Company previously anticipated, the plant is expected to achieve commercial production of 3 tpd in Q4 2013, thus completing Orbite's conversion from a pre-revenue development company into an alumina producer.
The corporation is now focused on process optimization, which consists of gradually increasing production while preserving and increasing purity. Customer HPA samples of 4N or greater are being shipped to prospective customers, and such shipments are expected to continue as material of the appropriate purity and characteristics become available to satisfy the customer purchase orders. The HPA plant is expected to produce progressively purer samples to 4N5 and 5N throughout the remainder of Phase I. Customers are expected to test their respective HPA samples, a process which can take several months, prior to submitting purchase orders for commercial supply.
As a result of a recent management review of the project timelines, the HPA plant commissioning and optimization activities are now expected to continue into the second half of 2013. The procurement and installation of a new circulating fluid-bed ("CFB") calcinator, to supplement the existing rotary-kiln calcinators, was previously anticipated in Q2 2013 and is now anticipated in the second half of 2013. Given the foregoing, the HPA plant will operate throughout the second quarter of 2013 at a Phase I capacity averaging less than one tonne per day, and following the commissioning of the new CFB calcinator, will increase to the Phase II capacity of three tonnes per day, anticipated in the last quarter of 2013, followed by a gradual increase to the full production capacity of five tonnes per day, expected in early 2014. The declaration of commercial production, for accounting purposes, is anticipated at the beginning of Phase II. Construction of the scandium and gallium separation facility is expected to also coincide with Phase II.
Once in Phase II, the HPA plant will begin operating using the same processes as the proposed SGA plant, and as such, is also expected to act as a demonstration plant for the SGA processes.
In its Management Discussion and Analysis for the period ended September 30, 2012, management provided forecasts of capital costs for construction, equipment and installation ranging between $26 to $30 million net of projected refundable income tax credits ("RITC") (or $43 million to $50 million before RITC) for a production capacity of 3 tonnes of HPA per day ("tpd"). Subsequent to this estimate, management strategically opted to expand the HPA plant's production capacity from 3 tpd to 5 tpd to take advantage of the extra nameplate capacity of the new calcinator. Orbite expects incremental costs of $25 million net of RITC (or $35 million before RITC) to adapt the process and equipment to a 5 tpd capacity. The Corporation's decision to proceed with a capacity increase at this stage of the project was driven by a cost-benefit analysis vs. implementing it once the plant will be operating at a 3 tpd commercial production level. As a result, the total approximate projected capital cost for Orbite's HPA production facility, provisioned at a 5 tpd capacity, is currently forecasted at $55 million net of RITC (or $85 million before RITC), to be fully incurred by the end of 2013, while maintaining an equivalent total capex per tonne ratio and improving operational costs. As at December 31, 2012, $62,730,937 had been incurred and paid by the Corporation, of which approximately $19,932,275 represents RITCs.
Outlook for proposed SGA plant
The Corporation proposes building and operating an SGA production plant (the "SGA Plant") using clay mined from the Corporation's Grande-Vallée deposit. The SGA Plant site selection has not been completed at the time. The SGA Plant design is based on the parameters of the Preliminary Economic Assessment with an expected production of 540,000 tonnes per year of smelter-grade alumina as well as by-products that include high-purity hematite, silica, magnesium oxide, and individually separated rare earth and rare metal oxides. The SGA Plant design is based on Orbite's patented and patent-pending proprietary processes which involve hydrochloric acid leaching and a closed-loop acid recovery and regeneration system.
The basic design of the SGA Plant has been completed, whereas the detailed engineering is expected to be completed following the selection of a joint-venture partner(s) and SGA plant site. The Corporation anticipates the completion of a NI 43-101 compliant feasibility study technical report by the first quarter of 2014, subject to securing sufficient funding. Permitting for the mine site and SGA plant site is expected to move ahead in parallel to the detailed engineering.
The Company is pursuing discussions with prospective joint-venture partners in connection with the SGA Plant project, including UC RUSAL.
Outlook for Veolia Red Mud Demonstration Plant
On February 4, 2013, Orbite and Veolia Environmental Services signed an exclusive worldwide collaborative agreement for the treatment and remediation of red mud from stockpiles or from the effluent of existing alumina refineries. The terms of the partnership include the preparation of a study confirming the viability of a red mud treatment plant using Orbite's proprietary processes, as well as specific milestones for the selection of a plant site, capacity, structure of the ownership and financing, of such a plant, with the intent to initiate construction in 2014. Discussions in respect of site selection, management of a co-enterprise and financial terms associated with the first plant are ongoing.
Outlook for Exploration and Evaluation Activities
Orbite intends to initiate a grassroots exploration program on its newly acquired aluminous clay claims near Rimouski and Cap-Chat in Quebec, to complete exploration activities on its kaolin clay claims under the Chaswood option agreement in Nova Scotia, as well as complete geotechnical drilling at Grande-Vallée in Quebec.
Outlook for Financial Requirements
Orbite is still a development-stage company with multiple projects, each with different capital requirements. In light of the numerous projects that the Company is developing, the Company continuously assesses financing options, including joint-venture partnerships, project debt financing and equity offering.
Notice to the reader
The information provided in this press release is entirely qualified by the disclosures in the Company's consolidated annual financial statements, management discussion & analysis (MD&A), and annual information form (AIF) for the year-ended December 31, 2012, which are available from the Company's website (www.orbitealuminae.com) and on SEDAR (www.sedar.com).
About Orbite
Orbite Aluminae Inc. is a Canadian company whose innovative and proprietary processes can produce alumina and other high-value by-products, such as rare earth and rare metal oxides, at one of the lowest costs in the industry, without generating any wastes, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud and fly ash. Orbite is currently commissioning and optimizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Québec. A Feasibility Study for Orbite's first smelter-grade alumina (SGA) production plant, using clay mined from its Grande Vallée deposit, is anticipated by Q1 2014. Orbite signed an exclusive worldwide collaborative agreement with Veolia Environmental Services for the remediation of red mud using the Orbite processes with the intent to begin construction of a Veolia-operated demonstration plant in 2014. The company owns the intellectual property rights to 9 patents and 32 pending patent applications in 10 different countries. Its intellectual property portfolio now contains 14 intellectual property families.
For more information on the Company or to download our corporate presentation please visit: www.orbitealuminae.com
Forward-looking statements
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 28, 2013 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.
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Contact:.
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ORBITE
Marc Johnson
Vice-President, Corporate Development
info@orbitealuminae.com
514-744-6264, ext. 131
Louis Morin - Investor Relations
514-591-3988
Nicole Blanchard - Investor Relations
Sun International Communications
450-973-6600
Chris Witty - Investor Relations
Darrow Associates
cwitty@darrowir.com
646-438-9385
Frederic Berard - Canada Media Inquiries
Vice-President and General Manager
H+K Strategies
514-395-0375, ext. 259
George Sopko - US Media Inquiries
Stanton Public Relations & Marketing
646-502-3507
The strong rebound continues! +10% yesterday on good volume and +9% more early today!
CRK.TO $0.29 $118M market cap
Crocodile Gold Declares Commercial Production at Its Cosmo Mine
http://finance.yahoo.com/news/crocodile-gold-declares-commercial-production-120000158.html?desktop_view_default=true
Anyone still follow this one?
At full production, Cosmo is expected to produce between 700,000 and 750,000 tonnes of ore per annum (or 2,000 to 2,150 tonnes per day) with associated recovered gold production of 75,000 to 90,000 ounces of gold
+3.68% $8.45 top gainer in early trade!
Gap filled.
Orbite Receives Patents in China and Russia
http://finance.yahoo.com/news/orbite-receives-patents-china-russia-143104513.html
MONTREAL, QUEBEC--(Marketwire - Feb 19, 2013) - Orbite Aluminae Inc. (ORT.TO)(EORBF) ("Orbite" or the "Company") is pleased to announce it has been recently issued patents in China and Russia covering processes for producing alumina from aluminous ores such as clay, bauxite and other sources. These protect the same processes as those used in Orbite''s high-purity alumina (HPA) plant in Cap-Chat, Quebec as well as processes that will be used in its first smelter-grade alumina (SGA) plant, currently at the Feasibility Study stage.
"The issuance of these two patents is excellent news since China and Russia are the largest aluminum producing regions in the world," said Richard Boudreault, President and CEO of Orbite. "No patent application filed by Orbite has ever been denied, which should alleviate concerns about the patentability of our technology in China, Russia, and in other important countries, for our expanding portfolio of intellectual property."
Orbite previously announced on September 20, 2012 it had received the Notice of Allowance for the patent applications in China and Russia. Patent CN 101842504 has an effective date of November 14, 2012 and patent RU 2471010 has an effective date of December 27, 2012. Orbite''s patent portfolio now consists of nine patents in USA, Canada, Australia, China and Russia, as well as 31 pending patent applications in nine different countries covering fourteen intellectual property families.
All of Orbite''s patent applications filed since 2010 are under the Patent Cooperation Treaty (PCT), an international treaty between more than 140 Paris Convention countries and administered by the World Intellectual Property Organization (WIPO). The PCT makes it possible to seek patent protection simultaneously in a large number of countries by filing a single "international" patent application instead of filing several separate national applications. The granting of patents remains under the control of the national Offices in what is called the "national phase" which is reached approximately 30 months after filing the initial patent application.
HPA Plant Commissioning
Commissioning and optimization of Orbite''s first high-purity alumina plant in Cap-Chat, Quebec is progressing according to plan. All material processed at the plant has been sourced from Orbite''s 100%-owned aluminous clay deposit in Grande-Vallée, Quebec. The production of multiple customer samples according to their individual order and purity specifications is expected soon. HPA samples for customers in Europe, America and Asia will be shipped as the material becomes available during the first quarter of 2013.
As previously stated on January 22, 2013, further commissioning activities - and optimization of the purity towards 5N and greater - are expected to take up to two months to complete and are proceeding according to schedule. Orbite announced the independently verified production of 4N purity (99.99%) alumina and, subsequent to further optimization, is currently testing for higher purities.
Following the installation of additional alumina calcination equipment in Q2 2013, the HPA production capacity is expected to gradually increase from less than one tonne per day to three tonnes per day by mid-2013, and to five tonnes per day by the end of 2013.
Orbite anticipates that it will start commercial production in Q2 2013, with plans to offer HPA powder and HPA granules ranging from 4N (99.99%) to an eventual 6N (99.9999%) purity. Orbite also anticipates the production of gallium and scandium oxides once a rare-metal recovery circuit is completed in mid-2013.
The process used by Orbite to produce HPA is unique and patented. It differs significantly from the rest of the HPA industry and is expected to produce higher purities at lower production costs than existing producers. The HPA plant is also a showcase for the SGA technology that will be used at the Company''s first SGA plant, currently at the Feasibility Study stage.
PerformAs Award from the Quebec Government
Orbite is also pleased to announce the Quebec Ministry of Finance and Economics (MFE) has named the Company as the 2013 winner of the PerformAS Award, which recognizes Orbite''s achievements in furthering innovation and development of the chemical industry within the Province of Quebec. This prestigious prize was awarded on February 13, 2013 as part of an event organized by the Association for the Development and Innovation of Chemistry in Quebec (ADICQ) and the Consortium for Research and Innovation of Industrial Bio-Processes in Québec (CRIBIQ).
This is the second national award received by Orbite this year, having previously announced in January that it was named by the Canadian Manufacturers and Exporters (CME) in collaboration with the Canadian government''s National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) as the National Winner of the 2012 Regional Awards in New Technology.
About Orbite
Orbite Aluminae Inc. is a Canadian company whose innovative and proprietary clean technologies allow the extraction of alumina and other high-value products, such as rare earths and rare metals, from various sources, such as aluminous clay, kaolin, nepheline, and bauxite, all without generating the caustic waste associated with the industry-standard Bayer process, commonly known as "red mud." These technologies also permit the remediation and reclamation of industrial waste, including fly ash from coal combustion and red mud. Orbite is currently commissioning its first commercial high-purity alumina production plant in Cap-Chat, Quebec. Orbite owns the exclusive mining rights over 34 km2 at Grande-Vallée which hosts a NI 43-101 compliant 1 billion tonnes aluminous clay deposit (see Reviewed Preliminary Economic Assessment, dated May 30, 2012) as well as exclusive mining rights over a further 550 km2 along the same clay formation in the Gaspé region of Quebec. The Company also holds fourteen families of intellectual property rights worldwide for its unique alumina and by-product extraction processes.
For more information on the Company please visit www.orbitealuminae.com
Forward-looking statements
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management''s good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company''s control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management''s Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 22, 2012 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.
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Contact:.
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ORBITE
Marc Johnson
Vice-President, Corporate Development
514-744-6264, ext. 131
info@orbitealuminae.com
www.orbitealuminae.com
Louis Morin
Investor Relations
514-591-3988
Nicole Blanchard
Investor Relations
Sun International Communications
450-973-6600
Chris Witty
Investor Relations
Darrow Associates
646-438-9385
cwitty@darrowir.com
Frederic Berard - Canada Media Inquiries
Vice-President and General Manager
H+K Strategies
514-395-0375, ext. 259
George Sopko - US Media Inquiries
Stanton Public Relations & Marketing
646-502-3507
PVG is the best single play in the entire gold silver mining industry right now in my opinion. Undeveloped high grade deposits in good jurisdictions are the closest things to a sure thing as you can get in the industry. This recent pull back is a very fortunate gift to those that did not get in at or just after the IPO.
11-25-2011 gap at $8.30 would make for a nice reversal point, and an incredible bargain.
PVG -7.54% to $8.95 on gold smackdown, but still able to close financing at 50% higher share price level.
It is the well funded companies that will make it through these tough times.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2013) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES
Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm" or the "Company") is pleased to announce that it has closed its private placement of 361,300 ITC flow-through common shares ("ITC Flow-Through Shares") of Pretivm at a price of $13.84 per share and 1,287,250 CEE flow-through common shares ("CEE Flow-Through Shares") of Pretivm at a price of $12.43 per share for aggregate gross proceeds of $21 million (the "Offering"). The Offering includes the exercise, in part, of the underwriters' option for the purchase of an additional 80,450 CEE Flow-Through Shares pursuant to the previously announced bought deal private placement. The syndicate of underwriters was led by CIBC and included Cormark Securities Inc., RBC Capital Markets, Scotia Capital Inc., BMO Capital Markets, Dahlman Rose & Co., GMP Securities L.P., Salman Partners Inc. and UBS Securities Canada Inc.
The gross proceeds of the Offering will be used to advance exploration activities at the Brucejack Project in support of the 10,000-tonne bulk sample from the Valley of the Kings, which is scheduled to begin in the second quarter.
Subscribers under the Offering are not permitted to trade the Flow-Through Shares for a period of four months plus one day from the closing of the Offering. The Flow-Through Shares offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act.
About Pretivm
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack's Valley of the Kings is underway and expected in the second quarter.
(SEDAR filings: Pretium Resources Inc.)
Forward Looking Statement
This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of Pretivm's Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm's executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm's prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States through EDGAR at the SEC's website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.
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Contact:.
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Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
(604) 558-1784
Pretium Resources Inc.
Michelle Romero
Corporate Relations Director
(604) 558-1784
invest@pretivm.com
www.pretivm.com
Wow new all-time low $7.62
-7% to almost $10.00 Brutal
Ouch - lowest since March
Exeter XRA has the Caspiche gold-copper project located in northern Chile
Caspiche has proven and probable ore reserves of 1.091 billion tonnes containing 19.3 million ounces gold, 4.62 billion pounds copper, 41.5 million ounces silver
The project is situated in the Maricunga gold district, between the Maricunga mine (Kinross Gold Corp.) and the Cerro Casale gold-copper deposit (Barrick Gold Corp. and Kinross Gold Corp.)
$55 million in cash, $105M market cap.
Announcing water exploration today...will it be a mine, and is Chile safe? ABX and KGC seem to think so?
Pretium Resources Inc.: Brucejack Project Update; Valley of the Kings Ramp Advance
http://finance.yahoo.com/news/pretium-resources-inc-brucejack-project-100000236.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 9, 2013) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to provide the following update on the progress of activities at its Brucejack Project in northern British Columbia.
Valley of the Kings Access Ramp
Excavation of the access ramp to the Valley of the Kings from the West Zone historical workings is now underway, with the widening of the West Zone historical workings completed. The access ramp to the Valley of the Kings from the West Zone is planned to total 546 meters in length, and is targeting the 1345 meter level at the 426600 cross-section of the Valley of the Kings. A total of 71 meters of the access ramp has been excavated since the turn towards the Valley of the Kings from the West Zone was initiated late last year. The ramp is expected to access the Valley of the Kings in April.
In addition to targeting an area of mineralization for the bulk sample, the current ramp alignment will allow acceleration of production development as it will be used to provide multiple headings for excavation of the planned production declines. A channel sampling program along the ramp will be conducted as work progresses, as the area is untested. Further underground sampling and drilling is planned after Valley of the Kings has been reached.
Bulk Sample
Strathcona Mineral Services Ltd. of Toronto has been engaged as the independent Qualified Person to oversee and report on the 10,000-tonne bulk sample from the Valley of the Kings. Excavation of the bulk sample is scheduled to begin in the second quarter. Planning is underway with Strathcona on the work required to be completed prior to excavating the bulk sample, the procedures for excavating the bulk sample and the sampling protocols.
Project Permitting
In late December, Pretivm submitted the project description for Brucejack to the British Columbia Environmental Assessment Office. The filing initiates the permitting process for the proposed 2,700 tonnes per day high-grade underground gold mine at the Valley of the Kings.
Ian I Chang, M.A.Sc., P.Eng., Vice President, Project Development, Pretium Resources Inc. is the Qualified Person (QP) responsible for Brucejack Project development.
About Pretivm
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack''s Valley of the Kings is underway and expected in the second quarter of 2013.
(SEDAR filings: Pretium Resources Inc.)
Forward-Looking Statement
This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm''s financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of Pretivm''s Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm''s executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm''s prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States through EDGAR at the SEC''s website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm''s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.
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.
Contact:.
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Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
(604) 558-1784
Pretium Resources Inc.
Michelle Romero
Corporate Relations Director
(604) 558-1784
invest@pretivm.com
www.pretivm.com
Royal Gold Increases KSM Royalty Option by Acquiring an Additional $18 Million in Seabridge Common Shares at 15% Premium to Market
http://finance.yahoo.com/news/royal-gold-increases-ksm-royalty-230000308.html
Something in the air?
Down almost 3% for most of the day, then jumped up in late trade and ended with a 1% gain. Proabbaly nothing but I'll take it.
Pretivm could take off early next year. As one of the few strong performers in the mining sector, PVG could actually currently be hurting from tax GAIN selling. People realizing the gain this year before rates go up next year. Or on the flip side, realizing the gain to offset other mining stock losses. Either way, I'm pretty excited about what's to come first quarter 2013.
What's good for Seabridge is good for Pretivm...
Seabridge Gold shares advance on $15 mln 2013 drill program at KSM project
http://www.proactiveinvestors.com/companies/news/38527/seabridge-gold-shares-advance-on-15-mln-2013-drill-program-at-ksm-project-38527.html
Pretivm to Receive PDAC Discovery Award for Valley of the Kings
http://finance.yahoo.com/news/pretivm-receive-pdac-discovery-award-210500680.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec 11, 2012) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is very pleased to report that it has been selected to receive the Bill Dennis Award from the Prospectors & Developers Association of Canada ("PDAC") for advancing the Valley of the Kings at its high-grade gold Brucejack Project in northwest British Columbia. The 2013 PDAC Bill Dennis Award, which recognizes a Canadian discovery or prospecting success, will be awarded to Pretivm at the PDAC Annual Awards banquet on March 4, 2013 during the PDAC convention in Toronto.
The high-grade gold potential of Brucejack''s Valley of the Kings was first discovered in 2009 with a drill hole that intersected 16,949 grams per tonne gold uncut over 1.5 meters. Pretivm began advancing the Valley of the Kings in 2011 and has drilled a total of 174,182 meters to date, with results from the Valley of the Kings continuously delivering significant high-grade gold intercepts, including visible gold.
High-grade gold resources (5.0 grams of gold equivalent per tonne cut-off) for the Valley of the Kings now total 8.5 million ounces of gold in the Indicated Mineral Resource category (16.1 tonnes grading 16.4 grams of gold per tonne) and 2.9 million ounces of gold in the Inferred Mineral Resource category (5.4 million tonnes grading 17.0 grams of gold per tonne). The Valley of the Kings remains open to the east and west along strike and at depth.
"We are honoured to receive the award from our peers, and thank PDAC for this recognition," commented Pretivm''s CEO Robert Quartermain. "We have at Pretivm a dedicated team who are excited about the further potential for discovery at Brucejack, and the plans to advance the Valley of the Kings in the coming year.
About Pretivm
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack''s Valley of the Kings is underway and expected in the second quarter of 2013.
(SEDAR filings: Pretium Resources Inc.)
Forward Looking Statement
This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm''s financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of Pretivm''s Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm''s executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm''s prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States through EDGAR at the SEC''s website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm''s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.
.
.
Contact:.
.
Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
(604) 558-1784
Pretium Resources Inc.
Michelle Romero
Corporate Relations Director
(604) 558-1784
invest@pretivm.com
www.pretivm.com
TLR +31% $0.38 on permit:
http://finance.yahoo.com/news/timberline-receives-draft-hard-rock-130000919.html
"This permit is a critical milestone for Timberline and our joint-venture partner. The regulators have been fastidious about our permit application, and we have provided thorough responses to each of their inquiries and comments. Our JV partner continues to fully fund the permitting and development at Butte Highlands, and they are actively involved and working closely with us to expedite the remaining permits and complete project development. The receipt of this draft permit and positive compliance determination from the MDEQ provides clear evidence that we will receive the final Hard Rock Operating Permit in mid-2013. We expect to commence gold production at Butte Highlands shortly thereafter."
Up to $1 per share cash flow coming
Current market cap just 23.66 million
Finally! +30% on 3x volume so far.
From http://seekingalpha.com/article/1023051-no-bull-about-leveraged-gold-bull-etfs?source=yahoo
The prospectus for the Direxion Daily Gold Miners Bull 3x Shares ETF provides a lengthy description of the product and risks. Here is a small section which summarizes their key points:
(3) The Funds seek daily leveraged investment results. The pursuit of these investment goals means that the return of a Fund for a period longer than a full trading day will be the product of the series of daily leveraged returns for each trading day during the relevant period. As a consequence, especially in periods of market volatility, the path of the benchmark during the longer period may be at least as important to a Fund's return for the longer period as the cumulative return of the benchmark for the relevant longer period. Further, the return for investors that invest for periods less than a full trading day or for a period different than a trading day will not be the product of the return of the Fund's stated goal and the performance of the target index for the full trading day. The Funds are not suitable for all investors.
The Funds are designed to be utilized only by sophisticated investors, such as traders and active investors employing dynamic strategies. Such investors are expected to monitor and manage their portfolios frequently. Investors in the Funds should:
a. understand the risks associated with the use of leverage,
b. understand the consequences of seeking daily leveraged investment results,
c. understand the risk of shorting, and
d. intend to actively monitor and manage their investments.
Investors who do not understand the Funds or do not intend to actively manage their funds and monitor their investments should not buy the Funds. There is no assurance that any of the Funds offered in this prospectus will achieve their objectives and an investment in a Fund could lose money. No single Fund is a complete investment program.
If a Fund's underlying benchmark moves more than 33% on a given trading day in a direction adverse to the Fund, the Fund's investors would lose all of their money.
In other words, the daily rebalancing to buy three times the number of forward contracts on the portfolio positions will consume part of the underlying capital. If you buy the bull position, and gold plummets 33% (as this is leveraged 300%) during your holding period, your position will be worth zero. Direxion lengthily explains that this is NOT a long-term investment - in fact, it is a one-day trade (or at most, a few days). It appears that the investor must anticipate a price spike, buy, and then sell immediately (within a few days at most), to make money.
The opportunity for leverage is to magnify your gain over a short term trade. The challenge is that if you do not accurately guess the short-term market direction, or choose to hold the leveraged security for longer than the trading day that you purchased the leveraged-fund, your capital is consumed by the rebalancing of the contracts, regardless of whether the investment is the leveraged commodity or the miners.
From http://seekingalpha.com/instablog/659186-monty-spivak/1251931-gold-bullion-etfs-closed-end-funds-or-gold-mining-stocks-follow-up-on-cef-gtu-gdx-nugt
I presume that the Direxion Daily Gold Miners Bull 3x Shares ETF (NUGT) - the worst-performing, green trend line on this chart - is only for extremely short-term holds. The daily rebalancing to buy three times the number of forward contracts on the portfolio positions would seem to consume the underlying capital. Although this is outside my domain expertise, it would not seem to be a long-term investment security to me. It appears that the investor must anticipate a price spike, buy, and then sell immediately (within a few days), to make money. Of course, this is simply my speculation, as I have tried and failed with a double-bull natural gas ETF in Canada. Perhaps someone with more knowledge could explain how a long-term investor can make money holding positions which would incur these daily fees?
x3 leverage more than compensates for any decay?
The Special Value of Pretium's Gold Bonanza
http://www.fool.com/investing/general/2012/11/21/the-special-value-of-pretiums-gold-bonanza.aspx
Gold's unique properties and ancient monetary pedigree impart upon the metal a very special value among the suite of mined resources. And among the known economic deposits of gold scattered across the earth, one company's treasure stands out with a special value all its own.
Pretium Resources (NYSE: PVG ) conducted 100 kilometers of exploration drilling during 2012 within the aptly named Valley of the Kings portion of its flagship Brucejack Project in northwestern British Columbia. As a result of continued bonanza-grade success in that campaign, Pretium released an updated resource estimate this week that grew indicated resources by 66% to reach 8.5-million ounces of gold! Before I gobble my first bite of gravy-slathered stuffing on Thursday, I may have to add Pretium's growing gold bonanza to the long list of blessings for which I am thankful this year.
Pretium's massive, district-scale claim block covers more than 90,000 hectares in some of the world's most prospective real estate for gold. The legendary Eskay Creek mine, just over 20 kilometers away, yielded truly astonishing grades of gold and silver in its day for Barrick Gold (NYSE: ABX ) . And adjacent to Pretium's land package, Seabridge Gold (NYSE: SA ) has identified one of the world's largest undeveloped gold projects with monster reserves of 38.2-million ounces of gold and nearly 10-billion pounds of copper. On the following claims map, which shows Pretium's huge claim package in blue, Seabridge's Kerr-Sulphurets-Mitchell (KSM) project sits immediately to the left (West) of Snowfield and Brucejack.
How Pretium makes the grade
Although Pretium's Brucejack project is just a stone's throw away from Seabridge's KSM, in all the ways that matter these project are truly worlds apart. KSM's large-scale surface operation remains sub-economic (or at best barely economic) even at today's elevated gold prices, while Pretium's small-scale underground mine promises hearty, low-risk returns on a much smaller outlay of capital. But don't let the relative small scale of the proposed mine at Brucejack mask the operation's meaningful bounty! If you're wondering how Pretium will produce significant volumes of gold from an operation that would be 98% smaller in scale than that envisioned by Seabridge Gold just next door, the answer lies in Pretium's extraordinary gold grade.
As the following graphic from fellow high-grade sensation Sabina Gold & Silver (NASDAQOTH: SGSVF ) reveals, Pretium's Brucejack asset towers over all major Canadian gold deposits (including those already producing) with respect to average gold grade. Not even Goldcorp's (NYSE: GG ) phenomenal Red Lake mine in Ontario -- an operation I discuss in my recently completed research report on Goldcorp (click here to access the report) -- can lay claim to a superior grade!
With 16.4 grams of gold in each tonne of ore in indicated resources at Brucejack's Valley of the Kings, Pretium is on the fast track to building a mine that promises a special sort of profitability for shareholders. When Pretium releases its feasibility study during the second quarter of 2013, Fools can look for an internal rate of return that will far exceed the already robust return of 29.8% (pre-tax) contemplated by the preliminary economic assessment (PEA) released back in February. The project's clear-cut economic feasibility is a direct product of the asset's superior average gold grade, and those bonanza grades warrant a premium asset valuation that is not presently reflected in the stock... not by a long shot!
High-grade treasure without a high-grade price tag
I remain amazed by what I perceive as the market's glaring failure to properly value this expanding underground treasure, and my selection of Pretium's stock as one of the premier investment vehicles for gold remains a valuation-focused call even as remaining exploration potential holds the promise of meaningful organic growth still to come. You see, the market has seen fit to grant Pretium a capitalization of just $1.2 billion; a far cry from the net present value of $2.26 billion proposed by the PEA.
That PEA envisioned a 1,500-tonne-per-day underground mine extracting a total of 11.8-million tonnes of high-grade ore over a 24-year mine life. Given Pretium's new indicated resource of 16.1-million tonnes of similarly high-grade material -- just in the Valley of the Kings portion of the project alone -- it's clear that the company has added substantial value to the project in advance of the full-fledged feasibility study (expected during the second quarter of 2013). That feasibility study will contemplate a 2,700-tonne-per-day operation, fully 80% larger in scale than the PEA scenario outlined above!
Under the skillful direction of President and CEO Robert Quartermain, who extricated the Brucejack and Snowfield properties from Silver Standard Resources (Nasdaq: SSRI ) in a memorable strategic shuffle, Pretium also added meaningful shareholder value to Brucejack this year by multiplying in spades the degree of confidence behind each successive estimation of mineral resources. After scrutinizing in some detail the estimation parameters employed along the way, I find that Pretium's stated resources represent an uncommonly (and refreshingly) conservative interpretation of the available data.
As a delighted shareholder, therefore, I approach the pending feasibility study with the knowledge that the project's calculated value will derive from ounces and ore grades that are extremely likely to pan out as proposed. This represents, in my view, a very major de-risking of the project; and another rationale for ascribing special value to Pretium's gold bonanza! With a market valuation for the stock that equates to just over $140 for each of the superior quality ounces in indicated resources just at Valley of the Kings alone, I fully expect a strong showing from these shares as the special value of Pretium's bonanza shines through.
Another precious metals miner to delight in is Goldcorp, one of the leading players in the gold mining market. For the last several years, investors have been the beneficiaries of several successful acquisitions and strong organic growth. Goldcorp's low-cost production of one of the most sought-after metals in the world continues to make it an attractive choice for long-term investors. Click here for our detailed report to discover more about this mining specialist.