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Amazing how strong this stock is. Gold is getting clobbered for $65+ and good ole PVG is hitting new all-time highs!
PVG new all-time high!
Pretivm Files Preliminary Base Shelf Prospectus for Future Securities Offerings
http://finance.yahoo.com/news/Pretivm-Files-Preliminary-iw-2320728156.html?x=0
VANCOUVER, BRITISH COLUMBIA--(Marketwire -02/27/12)- Pretium Resources Inc. (TSX: PVG.TO - News)(NYSE: PVG.TO - News) ("Pretivm" or the "Company") is pleased to announce that it has filed a preliminary short form base shelf prospectus (the "Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada except Quebec. The Prospectus was also filed with the U.S. Securities and Exchange Commission ("SEC") as part of a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.
The Prospectus, when made final, will enable the Company to make offerings of up to an aggregate principal amount of C$180 million of common shares, warrants, units or subscription receipts of the Company, which includes up to C$36 million in common shares owned by Silver Standard Resources Inc. ("Silver Standard") that may be offered by way of a secondary offering under the Prospectus. The securities may be offered in Canada and the United States from time to time, separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering and as set out in an accompanying prospectus supplement, during the 25-month period that the Prospectus, when made final, remains effective. Unless otherwise specified in the prospectus supplement relating to a particular offering of securities, the net proceeds from any sale of any securities will be used for development of our mineral properties, working capital requirements, acquisitions of additional mineral properties and for other general corporate purposes. The Company will not receive any proceeds from the sale of common shares owned by Silver Standard by way of a secondary offering.
The shelf registration statement filed today with the SEC relating to these securities has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement become effective and the final short-form base shelf prospectus is filed. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Forward Looking Statement
This Press 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, information with respect to timing and completion of possible offerings or secondary offerings under the Prospectus, our planned exploration and development activities, the adequacy of the Company's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the Company'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, the Company'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 preliminary Prospectus dated February 24, 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.
Neither the TSX for the NYSE has approved or disapproved of the information contained herein.
.
.
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
BAT.V -$0.94 $1.62 BELDF.PK -37.65% $1.6149
Good buying opp.?
Down on 43-101 that was not as good as expected, but that is only because they weren't allowed to include, yet, several million ounces that they will be able to prove out and add in later?
http://finance.yahoo.com/news/Batero-Gold-Reports-Initial-ccn-947496965.html?x=0
Missed the CC, waiting for the replay later today.
Even without the future progress, its still 3.5 million ounces gold, 12.3 million ounces silver and 438 million pounds of copper Indicated
And 2.6 million ounces gold, 14 million ounces silver and 320 million pounds of copper Inferred
For a company that has now dropped to a $86M market cap.
Thoughts?
Almost 10x average volume today, close to that yesterday too...
Pretium Resources Inc.: Brucejack Project Update
http://finance.yahoo.com/news/Pretium-Resources-Inc-iw-3782531007.html?x=0
VANCOUVER, BRITISH COLUMBIA--(Marketwire -02/23/12)- Pretium Resources Inc. (TSX: PVG.TO - News)(NYSE: PVG.TO - News) ("Pretivm") is pleased to provide the following update on the progress of activities now underway at its Brucejack high-grade gold Project in northern British Columbia.
Feasibility Study and Resource Model
Pretivm has retained Wardrop, a Tetra Tech Company to prepare a feasibility study on the high-grade gold opportunity at Brucejack. As part of the feasibility study, Pretivm has retained Snowden Mining Industry Consultants to provide an underground resource model using Multiple-Indicator Kriging (MIK) estimation for the high-grade gold and silver resources identified to date in the Valley of the Kings and West zones. The feasibility study is expected to be completed by year-end.
Exploration
An initial program of 24,000 meters of surface infill drilling is planned to commence by the end of February in the Valley of the Kings Zone. The drilling will be focused on the mineralization to be mined in the first 12 years as contemplated in the February 20, 2012 Updated Preliminary Economic Assessment, and tightening the drill spacing with the intent to increase the level of confidence to move Inferred mineral resources to Measured and Indicated mineral resource categories. Inferred mineral resources at the Valley of the Kings currently total 3.23 million ounces of gold at an average grade of 26.89 g/t (see the Technical Report and Updated Preliminary Economic Assessment of the Brucejack Project dated February 20, 2012 filed on SEDAR).
Engineering
A permit application has been filed to access the Valley of the Kings underground by driving an exploration decline from the 1330 meter level of the existing West Zone underground workings. The West Zone has been dewatered past the 1330 meter level and a surveying and geotechnical mapping program has been completed. A 3,500-meter geotechnical surface drill program is now underway to confirm ground conditions between the Valley of the Kings and the West Zone. An isometric of the proposed exploration decline is posted on our web site www.pretivm.com.
Road crews continue to work from both ends of the planned access road extending from the Brucejack Project to Highway 37. The access road is expected to be completed in late 2012.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the Qualified Person (QP) responsible for the Brucejack Project exploration program. 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 advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack, which hosts a significant undeveloped high-grade gold resource.
Forward Looking Statement
This Press Release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, information with respect to our plans, costs and timing for future exploration (including updated resource estimates) and development activities, results of future exploration, timing and receipt of approvals, consents and permits under applicable legislation, production and developments in our operations in future periods and adequacy of financial resources. Wherever possible, words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify forward-looking 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 (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) 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 final short-form prospectus dated April 4, 2011 filed on SEDAR at www.sedar.com. 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.
The TSX has neither approved nor disapproved of the information contained herein.
.
.
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
Pretium Resources plans to drill 24,000 m at Brucejack
2012-02-23 07:56 ET - News Release
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: BRUCEJACK PROJECT UPDATE
Pretium Resources Inc. has provided the following update on the progress of activities now under way at its Brucejack high-grade gold project in Northern British Columbia.
Feasibility study and resource model
Pretium has retained Wardrop, a Tetra Tech company, to prepare a feasibility study on the high-grade gold opportunity at Brucejack. As part of the feasibility study, Pretium has retained Snowden Mining Industry Consultants to provide an underground resource model using multiple-indicator kriging estimation for the high-grade gold and silver resources identified to date in the Valley of the Kings and West zones. The feasibility study is expected to be completed by year-end.
Exploration
An initial program of 24,000 metres of surface infill drilling is planned to commence by the end of February in the Valley of the Kings zone. The drilling will be focused on the mineralization to be mined in the first 12 years as contemplated in the Feb. 20, 2012, updated preliminary economic assessment, and tightening the drill spacing with the intent to increase the level of confidence to move inferred mineral resources to measured and indicated mineral resource categories. Inferred mineral resources at the Valley of the Kings currently total 3.23 million ounces of gold at an average grade of 26.89 grams per tonne (see the technical report and updated preliminary economic assessment of the Brucejack project dated Feb. 20, 2012, filed on SEDAR).
Pretium Resources plans to drill 24,000 m at Brucejack
2012-02-23 07:56 ET - News Release
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: BRUCEJACK PROJECT UPDATE
Pretium Resources Inc. has provided the following update on the progress of activities now under way at its Brucejack high-grade gold project in Northern British Columbia.
Feasibility study and resource model
Pretium has retained Wardrop, a Tetra Tech company, to prepare a feasibility study on the high-grade gold opportunity at Brucejack. As part of the feasibility study, Pretium has retained Snowden Mining Industry Consultants to provide an underground resource model using multiple-indicator kriging estimation for the high-grade gold and silver resources identified to date in the Valley of the Kings and West zones. The feasibility study is expected to be completed by year-end.
Exploration
An initial program of 24,000 metres of surface infill drilling is planned to commence by the end of February in the Valley of the Kings zone. The drilling will be focused on the mineralization to be mined in the first 12 years as contemplated in the Feb. 20, 2012, updated preliminary economic assessment, and tightening the drill spacing with the intent to increase the level of confidence to move inferred mineral resources to measured and indicated mineral resource categories. Inferred mineral resources at the Valley of the Kings currently total 3.23 million ounces of gold at an average grade of 26.89 grams per tonne (see the technical report and updated preliminary economic assessment of the Brucejack project dated Feb. 20, 2012, filed on SEDAR).
Pretium jacks up high-grade gold project in BC
In an updated scoping study Pretium projects tripling production to near seven million ounces gold at its Brucejack project.
http://www.mineweb.com/mineweb/view/mineweb/en/page103118?oid=145847&sn=Detail
Author: Kip Keen
Posted: Wednesday , 22 Feb 2012
HALIFAX, NS (MINEWEB) -
Like a powerful steroid, new high-grade gold resources enabled Pretium Resources (TSX, NSYE:PVG) to dramatically improve the mining outline of its Brucejack project in BC, Canada.
In a comparison of old and new scoping studies - the previous one was out mid last year - Pretium triples life of mine gold production. Instead of 2.2 million ounces gold @ 8.58 g/t gold and 14.72 million ounces silver @ 73.47 g/t, Pretium would now churn out 6.9 million ounces gold @ 18.9 g/t and 17 million ounces silver @ 59.2 g/t, life of mine.
The key here, more than anything else, is gold grade, which more than doubles thanks to a resource estimate that Pretium produced late last year. In it Pretium defined incredibly high grade gold from the Valley of the Kings area of the Brucejack project.
Indeed as previously noted on Mineweb the updated scoping study of the Brucejack project held steady on the 1,500 tonne per day rate of mining. While doing so, however, Pretium now estimates Brucejack would produce more than twice the amount of gold per year - 287,000 ounces versus 135,000 ounces over life of mine. That is the effect of higher grades.
Meantime, with overall life of mine tonnage growing about 40 percent to 11.8 million tonnes at the higher grade, Brucejack's minelife grows from 16 to 24 years.
The hike in gold grade and the addition of ounces has an equally staggering impact on project economics. Pretium had previously estimated a $662 million net present value (NPV), pre-tax and discounted at five percent. Pretium now forecasts NPV at $2.3 billion. Pretium's base case scenarios assumed precious metal prices of $1,100 per ounce gold and $21 per ounce silver.
As for capital costs, they climb 55 percent to $436 million. Pretium notes that two items are mainly behind the increase. First, it plans to pull forward underground access to higher grade resources in the production plan, meaning more costly pre-production mine development.
And second, whereas Pretium had envisioned using onsite diesel power, it now sees hooking up to the grid. This leads to higher up front costs - $42 million - but lower operating costs - C$0.33 per kilowatt hour for diesel versus C$0.06 for hydro-electricity.
Pretium jacks up high-grade gold project in BC
In an updated scoping study Pretium projects tripling production to near seven million ounces gold at its Brucejack project.
http://www.mineweb.com/mineweb/view/mineweb/en/page103118?oid=145847&sn=Detail
Author: Kip Keen
Posted: Wednesday , 22 Feb 2012
HALIFAX, NS (MINEWEB) -
Like a powerful steroid, new high-grade gold resources enabled Pretium Resources (TSX, NSYE:PVG) to dramatically improve the mining outline of its Brucejack project in BC, Canada.
In a comparison of old and new scoping studies - the previous one was out mid last year - Pretium triples life of mine gold production. Instead of 2.2 million ounces gold @ 8.58 g/t gold and 14.72 million ounces silver @ 73.47 g/t, Pretium would now churn out 6.9 million ounces gold @ 18.9 g/t and 17 million ounces silver @ 59.2 g/t, life of mine.
The key here, more than anything else, is gold grade, which more than doubles thanks to a resource estimate that Pretium produced late last year. In it Pretium defined incredibly high grade gold from the Valley of the Kings area of the Brucejack project.
Indeed as previously noted on Mineweb the updated scoping study of the Brucejack project held steady on the 1,500 tonne per day rate of mining. While doing so, however, Pretium now estimates Brucejack would produce more than twice the amount of gold per year - 287,000 ounces versus 135,000 ounces over life of mine. That is the effect of higher grades.
Meantime, with overall life of mine tonnage growing about 40 percent to 11.8 million tonnes at the higher grade, Brucejack's minelife grows from 16 to 24 years.
The hike in gold grade and the addition of ounces has an equally staggering impact on project economics. Pretium had previously estimated a $662 million net present value (NPV), pre-tax and discounted at five percent. Pretium now forecasts NPV at $2.3 billion. Pretium's base case scenarios assumed precious metal prices of $1,100 per ounce gold and $21 per ounce silver.
As for capital costs, they climb 55 percent to $436 million. Pretium notes that two items are mainly behind the increase. First, it plans to pull forward underground access to higher grade resources in the production plan, meaning more costly pre-production mine development.
And second, whereas Pretium had envisioned using onsite diesel power, it now sees hooking up to the grid. This leads to higher up front costs - $42 million - but lower operating costs - C$0.33 per kilowatt hour for diesel versus C$0.06 for hydro-electricity.
PVG basically flat now. Increased costs are not a surprise. They just last week closed a private placement of 1.25 million flow-through common shares of Pretium at a price of $18.50 per flow-through share for aggregate gross proceeds of $23,125,000. Raising money is not a problem, at above market price. That's the kind of dilution I can live with. It's necessary and not a surprise - not like some junior explorer issuing shares to line CEO pockets and drill more worthless holes. The PEA also still has gold at $1100 - I think they'll be selling it for more than that!
PVG
http://finance.yahoo.com/news/Pretium-Resources-Inc-Updated-iw-3560709721.html?x=0
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPVG-1928594&symbol=PVG®ion=C
Pretium's Brucejack pretax NPV at $2.262-billion (U.S.)
2012-02-22 07:19 ET - News Release
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: UPDATED PEA FOR BRUCEJACK HIGH-GRADE GOLD PROJECT
Pretium Resources Inc. has released the results from the National Instrument 43-101-compliant updated preliminary economic assessment for the high-grade gold and silver resources identified to date at its 100-per-cent-owned Brucejack project in Northern British Columbia. The PEA was prepared by Wardrop, a Tetra Tech Company (Tetra Tech).
Highlights (base case using US$1,100/oz gold, US$21/oz silver and exchange rate of US$0.93:C$1.00)
-- Base Case pre-tax Net Present Value (5% discount) of US$2.262 billion;
-- Mine life of 24 years producing an estimated 6.9 million ounces of gold and 17.0 million ounces of silver;
-- Average annual production of 325,000 ounces of gold over the first 12 years and 287,000 ounces of gold over the life of mine;
-- Base Case pre-tax Net Cash Flow over the proposed mine life of US$5.133 billion;
-- Base Case pre-tax Internal Rate of Return of 29.8%, with payback estimated at 4.1 years;
-- Estimated initial capital cost, including contingencies, of US$436.3 million;
-- Average operating costs of C$170.90/tonne milled over mine life.
Table 1: Summary of Brucejack High-Grade Economic Results by Metal Price
----------------------------------------------------------------------------
Spot Prices
Base Case(1) at February 17, 2012
----------------------------------------------------------------------------
Gold price (US$/ounce) $1,100 $1,733.60
----------------------------------------------------------------------------
Silver Price (US$/ounce) $21.00 $33.46
----------------------------------------------------------------------------
Net Cash Flow $5.133 billion (pre-tax) $9.467 billion (pre-tax)
$3.357 billion (post-tax) $6.185 billion (post-tax)
----------------------------------------------------------------------------
Net Present Value (5.0% $2.262 billion (pre-tax) $4.330 billion (pre-tax)
discount) $1.454 billion (post-tax) $2.808 billion (post-tax)
----------------------------------------------------------------------------
Internal Rate of Return 29.8% (pre-tax) 43.4% (pre-tax)
25.0% (post-tax) 36.5% (post-tax)
----------------------------------------------------------------------------
Payback 4.1 years (pre-tax) 3.2 years (pre-tax)
4.2 years (post-tax) 3.3 years (post-tax)
----------------------------------------------------------------------------
Exchange Rate (US$:C$) $0.93 $0.997
----------------------------------------------------------------------------
(1) Tetra Tech-adopted consensus forecast metal prices from the Energy
Metals Consensus Forecast (EMCF). The same base case metals prices were used
in the June 2011 Preliminary Economic Assessment of the Brucejack Project
(see news release dated June 2, 2011).
The Brucejack high-grade project is planned to be mined as an underground operation with the Valley of the Kings and West Zone the two targeted lodes. The underground mine is planned to operate with a processing rate of 1,500 tonnes per day and mine a total of 11.8 million tonnes of mineralized material from the Valley of the Kings and West Zone with an average mill feed grade of 18.9 grams per tonne gold and 59.3 grams per tonne silver.
Gold-silver dore will be produced using a combination of conventional bulk sulphide flotation, gravity concentration and cyanidation, with gold and silver recovery by the Merrill-Crowe process. A total of 6.9 million ounces of gold and 17.0 million ounces of silver is estimated to be produced over the life of the Brucejack Project.
The total estimated initial capital cost for the Brucejack high-grade project is US$436.3 million, an increase of 55% over the June 2011 PEA estimated capital cost. The increase in capital cost is primarily due to two factors. Underground development has been brought forward almost one year in order to access higher-grade ore earlier in the production schedule. As a result, pre-production mining costs have increased from US$52 million to US$128 million. In addition, mine site power is now planned to be supplied by tying into the electrical transmission grid at an estimated cost of US$42 million. The estimated operating cost of electrical power supplied from the transmission line is C$0.06 per kilowatt hour versus C$0.33 per kilowatt hour supplied from diesel as contemplated in the previous PEA.
The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the PEA will be realized.
The Technical Report for the PEA for the high-grade gold and silver resources at the Brucejack Project has been filed on SEDAR and will also be available at www.pretivm.com.
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.
Table 2: Projected Production and Processing Summary
---------------------------------------------------------------------------
Mine Type Underground
---------------------------------------------------------------------------
Total Production 11.8 million tonnes
---------------------------------------------------------------------------
Processing Rate 1,500 tonnes per day
---------------------------------------------------------------------------
Gold Silver
---------------------------------------------------------------------------
Average Mill Feed Grade 18.9 grams per tonne 59.3 grams per tonne
---------------------------------------------------------------------------
Average Metal Recoveries 95.7% 75.5%
---------------------------------------------------------------------------
Average Annual Production (ounces):
---------------------------------------------------------------------------
Years 1-12 325,000 444,000
---------------------------------------------------------------------------
Life of Mine (24 years) 287,000 710,000
---------------------------------------------------------------------------
Total Production (ounces):
---------------------------------------------------------------------------
Years 1-12 3.899 million 5.333 million
---------------------------------------------------------------------------
Life of Mine (24 years) 6.878 million 17.030 million
---------------------------------------------------------------------------
Table 3: Capital Costs Summary
----------------------------------------------------------------------------
Capital Costs (US$ million)
----------------------------------------------------------------------------
Direct Costs 328.3
----------------------------------------------------------------------------
Indirect Costs 58.2
----------------------------------------------------------------------------
Owner's Costs 11.9
----------------------------------------------------------------------------
Contingencies 37.8
----------------------------------------------------------------------------
Total Capital Cost 436.3
----------------------------------------------------------------------------
Table 4: Operating Costs Summary
---------------------------------------------------------------------------
Operating Costs (C$/t milled)
---------------------------------------------------------------------------
Mining 103.6
---------------------------------------------------------------------------
Processing 37.7
---------------------------------------------------------------------------
General & Administrative 19.26
---------------------------------------------------------------------------
Plant Services 10.29
---------------------------------------------------------------------------
Total Operating Cost 170.9
---------------------------------------------------------------------------
Independent Qualified Persons
The following Qualified Persons as defined by National Instrument 43-101 are independent of Pretivm and responsible for the Updated PEA of the Brucejack Project:
----------------------------------------------------------------------------
Qualified Person Scope of Responsibility
----------------------------------------------------------------------------
Hassan Ghaffari, P.Eng. Capital cost estimate, project
Tetra Tech execution plan
----------------------------------------------------------------------------
Sabry Abdel Hafez, Ph.D.,P.Eng. Economic Analysis
Tetra Tech
----------------------------------------------------------------------------
John Huang, P.Eng. Mineral processing and metallurgical
Tetra Tech testing, infrastructure, process
operating cost estimate
----------------------------------------------------------------------------
Pierre Pelletier, P.Eng. Environmental considerations
Rescan Environmental Services Ltd
----------------------------------------------------------------------------
Tracy Armstrong, P.Geo. Geology, property: description,
P&E Mining Consultants Inc. history, geological setting, deposit
types, mineralization, exploration,
physiography, drilling, sampling,
adjacent properties
----------------------------------------------------------------------------
Caroline Vallat, P.Geo. Data verification
GeoSpark Consulting Inc.
----------------------------------------------------------------------------
Fred H. Brown, CPG, Pr.Sci.Nat. Site visit and mineral resource
P&E Mining Consultants Inc. estimate
----------------------------------------------------------------------------
H. Warren Newcomen, P.Eng. Preliminary geotechnical design for
BGC Engineering Inc. underground workings
----------------------------------------------------------------------------
Hamish Weatherly, P. Geo. Water management
BGC Engineering Inc.
----------------------------------------------------------------------------
Lori-Ann Wilchek, P.Eng. Waste management and leach plant
BGC Engineering Inc. tailings storage facility design
----------------------------------------------------------------------------
Peter Mokos, MAusIMM (CP) Mining, including capital and
AMC Mining Consultants (Canada) Ltd. operating costs estimates
----------------------------------------------------------------------------
We seek Safe Harbor.
http://finance.yahoo.com/news/Pretium-Resources-Inc-Updated-iw-3560709721.html?x=0
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPVG-1928594&symbol=PVG®ion=C
Pretium's Brucejack pretax NPV at $2.262-billion (U.S.)
2012-02-22 07:19 ET - News Release
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: UPDATED PEA FOR BRUCEJACK HIGH-GRADE GOLD PROJECT
Pretium Resources Inc. has released the results from the National Instrument 43-101-compliant updated preliminary economic assessment for the high-grade gold and silver resources identified to date at its 100-per-cent-owned Brucejack project in Northern British Columbia. The PEA was prepared by Wardrop, a Tetra Tech Company (Tetra Tech).
Highlights (base case using US$1,100/oz gold, US$21/oz silver and exchange rate of US$0.93:C$1.00)
-- Base Case pre-tax Net Present Value (5% discount) of US$2.262 billion;
-- Mine life of 24 years producing an estimated 6.9 million ounces of gold and 17.0 million ounces of silver;
-- Average annual production of 325,000 ounces of gold over the first 12 years and 287,000 ounces of gold over the life of mine;
-- Base Case pre-tax Net Cash Flow over the proposed mine life of US$5.133 billion;
-- Base Case pre-tax Internal Rate of Return of 29.8%, with payback estimated at 4.1 years;
-- Estimated initial capital cost, including contingencies, of US$436.3 million;
-- Average operating costs of C$170.90/tonne milled over mine life.
Table 1: Summary of Brucejack High-Grade Economic Results by Metal Price
----------------------------------------------------------------------------
Spot Prices
Base Case(1) at February 17, 2012
----------------------------------------------------------------------------
Gold price (US$/ounce) $1,100 $1,733.60
----------------------------------------------------------------------------
Silver Price (US$/ounce) $21.00 $33.46
----------------------------------------------------------------------------
Net Cash Flow $5.133 billion (pre-tax) $9.467 billion (pre-tax)
$3.357 billion (post-tax) $6.185 billion (post-tax)
----------------------------------------------------------------------------
Net Present Value (5.0% $2.262 billion (pre-tax) $4.330 billion (pre-tax)
discount) $1.454 billion (post-tax) $2.808 billion (post-tax)
----------------------------------------------------------------------------
Internal Rate of Return 29.8% (pre-tax) 43.4% (pre-tax)
25.0% (post-tax) 36.5% (post-tax)
----------------------------------------------------------------------------
Payback 4.1 years (pre-tax) 3.2 years (pre-tax)
4.2 years (post-tax) 3.3 years (post-tax)
----------------------------------------------------------------------------
Exchange Rate (US$:C$) $0.93 $0.997
----------------------------------------------------------------------------
(1) Tetra Tech-adopted consensus forecast metal prices from the Energy
Metals Consensus Forecast (EMCF). The same base case metals prices were used
in the June 2011 Preliminary Economic Assessment of the Brucejack Project
(see news release dated June 2, 2011).
The Brucejack high-grade project is planned to be mined as an underground operation with the Valley of the Kings and West Zone the two targeted lodes. The underground mine is planned to operate with a processing rate of 1,500 tonnes per day and mine a total of 11.8 million tonnes of mineralized material from the Valley of the Kings and West Zone with an average mill feed grade of 18.9 grams per tonne gold and 59.3 grams per tonne silver.
Gold-silver dore will be produced using a combination of conventional bulk sulphide flotation, gravity concentration and cyanidation, with gold and silver recovery by the Merrill-Crowe process. A total of 6.9 million ounces of gold and 17.0 million ounces of silver is estimated to be produced over the life of the Brucejack Project.
The total estimated initial capital cost for the Brucejack high-grade project is US$436.3 million, an increase of 55% over the June 2011 PEA estimated capital cost. The increase in capital cost is primarily due to two factors. Underground development has been brought forward almost one year in order to access higher-grade ore earlier in the production schedule. As a result, pre-production mining costs have increased from US$52 million to US$128 million. In addition, mine site power is now planned to be supplied by tying into the electrical transmission grid at an estimated cost of US$42 million. The estimated operating cost of electrical power supplied from the transmission line is C$0.06 per kilowatt hour versus C$0.33 per kilowatt hour supplied from diesel as contemplated in the previous PEA.
The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the PEA will be realized.
The Technical Report for the PEA for the high-grade gold and silver resources at the Brucejack Project has been filed on SEDAR and will also be available at www.pretivm.com.
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.
Table 2: Projected Production and Processing Summary
---------------------------------------------------------------------------
Mine Type Underground
---------------------------------------------------------------------------
Total Production 11.8 million tonnes
---------------------------------------------------------------------------
Processing Rate 1,500 tonnes per day
---------------------------------------------------------------------------
Gold Silver
---------------------------------------------------------------------------
Average Mill Feed Grade 18.9 grams per tonne 59.3 grams per tonne
---------------------------------------------------------------------------
Average Metal Recoveries 95.7% 75.5%
---------------------------------------------------------------------------
Average Annual Production (ounces):
---------------------------------------------------------------------------
Years 1-12 325,000 444,000
---------------------------------------------------------------------------
Life of Mine (24 years) 287,000 710,000
---------------------------------------------------------------------------
Total Production (ounces):
---------------------------------------------------------------------------
Years 1-12 3.899 million 5.333 million
---------------------------------------------------------------------------
Life of Mine (24 years) 6.878 million 17.030 million
---------------------------------------------------------------------------
Table 3: Capital Costs Summary
----------------------------------------------------------------------------
Capital Costs (US$ million)
----------------------------------------------------------------------------
Direct Costs 328.3
----------------------------------------------------------------------------
Indirect Costs 58.2
----------------------------------------------------------------------------
Owner's Costs 11.9
----------------------------------------------------------------------------
Contingencies 37.8
----------------------------------------------------------------------------
Total Capital Cost 436.3
----------------------------------------------------------------------------
Table 4: Operating Costs Summary
---------------------------------------------------------------------------
Operating Costs (C$/t milled)
---------------------------------------------------------------------------
Mining 103.6
---------------------------------------------------------------------------
Processing 37.7
---------------------------------------------------------------------------
General & Administrative 19.26
---------------------------------------------------------------------------
Plant Services 10.29
---------------------------------------------------------------------------
Total Operating Cost 170.9
---------------------------------------------------------------------------
Independent Qualified Persons
The following Qualified Persons as defined by National Instrument 43-101 are independent of Pretivm and responsible for the Updated PEA of the Brucejack Project:
----------------------------------------------------------------------------
Qualified Person Scope of Responsibility
----------------------------------------------------------------------------
Hassan Ghaffari, P.Eng. Capital cost estimate, project
Tetra Tech execution plan
----------------------------------------------------------------------------
Sabry Abdel Hafez, Ph.D.,P.Eng. Economic Analysis
Tetra Tech
----------------------------------------------------------------------------
John Huang, P.Eng. Mineral processing and metallurgical
Tetra Tech testing, infrastructure, process
operating cost estimate
----------------------------------------------------------------------------
Pierre Pelletier, P.Eng. Environmental considerations
Rescan Environmental Services Ltd
----------------------------------------------------------------------------
Tracy Armstrong, P.Geo. Geology, property: description,
P&E Mining Consultants Inc. history, geological setting, deposit
types, mineralization, exploration,
physiography, drilling, sampling,
adjacent properties
----------------------------------------------------------------------------
Caroline Vallat, P.Geo. Data verification
GeoSpark Consulting Inc.
----------------------------------------------------------------------------
Fred H. Brown, CPG, Pr.Sci.Nat. Site visit and mineral resource
P&E Mining Consultants Inc. estimate
----------------------------------------------------------------------------
H. Warren Newcomen, P.Eng. Preliminary geotechnical design for
BGC Engineering Inc. underground workings
----------------------------------------------------------------------------
Hamish Weatherly, P. Geo. Water management
BGC Engineering Inc.
----------------------------------------------------------------------------
Lori-Ann Wilchek, P.Eng. Waste management and leach plant
BGC Engineering Inc. tailings storage facility design
----------------------------------------------------------------------------
Peter Mokos, MAusIMM (CP) Mining, including capital and
AMC Mining Consultants (Canada) Ltd. operating costs estimates
----------------------------------------------------------------------------
We seek Safe Harbor.
Pretium completes $23.12-million private placement
2012-02-17 10:30 ET - News Release
Mr. Robert Quartermain reports
PRETIUM CLOSES BOUGHT PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
Pretium Resources Inc. has closed its private placement of 1.25 million flow-through common shares of Pretium at a price of $18.50 per flow-through share for aggregate gross proceeds of $23,125,000.
The gross proceeds of the offering will be used to accelerate exploration of the Valley of the Kings zone with infill and expansion drilling in support of a feasibility study on the high-grade opportunity at the Brucejack project anticipated to be completed by year-end. The gross proceeds of the offering will be used during the 2012 exploration program to incur eligible Canadian exploration expenses (CEE) that will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada) and British Columbia flow-through mining expenditures, as defined in the Income Tax Act (British Columbia), which will be renounced to the subscribers with an effective date no later than Dec. 31, 2012. In the event the company is unable to renounce qualifying expenditures effective on or prior to Dec. 31, 2012, to the initial purchasers of flow-through shares in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares or such expenditures are reduced by the Canada Revenue Agency, the company will indemnify each flow-through share subscriber for the additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.
The flow-through shares were offered to accredited investors in all provinces of Canada pursuant to applicable securities laws. 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.
We seek Safe Harbor.
I think the secret is out about how undervalued this is. Almost a double this month!
Nevada Sunrise NEV.V +0.06 $0.22 33%
NVSGF.PK +42% $0.244
KGC +7.5% AEM +7% GG +5%...
And AEM opened up the day about 6% lower!
Those are huge swings from these lare cap miners.
A very good sign imo, juniors will follow...
PVG +3.51% $16.50 after yesterday's 3.31% gain, which was among the best in the sector.
Looks like that dip down to $15 was a brief one?
Only a dollar or so from a new high!
PVG - Was a rather sharp selloff, but volume has tapered off today and the pain may be mostly over now. A 10% correction after running almost 200% in the past 13 month is healthy and necessary. I'm not big into technicals, but there is a gap near $14.50 that looks like it wants to be filled. That would also take us to 50dma support - we were getting way too extended from that. Probably a good area for those looking to get in before we resume our march to $20+. This is a long term story. Don't let the short term gyrations bother you.
Nevada Sunrise NEV.V +0.07 $0.16 NVSGF.PK +78% $0.178
Nevada Sunrise Receives Kinsley Mountain Results
http://finance.yahoo.com/news/Nevada-Sunrise-Receives-iw-2154555042.html?x=0
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2012) - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSX VENTURE:NEV.V - News) is pleased to announce that Pilot Gold Inc. ("Pilot Gold") reports initial drilling at Kinsley Mountain has returned impressive intervals of gold mineralization and believes the mineralized system is strongly analogous to nearby Long Canyon in northeastern Nevada. In September 2011, Pilot Gold purchased an option agreement to earn a 51% interest on the Kinsley Mountain project with Nevada Sunrise by incurring US$1.18 million in exploration expenditures by March 30, 2013, with the option for Pilot Gold to earn an additional 14% interest by electing to incur a further US$3.0 million in exploration expenditures within five years of meeting the initial earn-in.
Pilot Gold's first work program included 1,250 metres (six holes) of diamond drilling designed to confirm mineralization in historical reverse circulation holes near the margins of open pits at the past-producing Kinsley Mountain Mine. Many of the historical drill holes, averaging 65 metres in depth, stopped short of potentially mineralized zones. Approximately 138,000 oxide ounces were mined from seven pits by Alta Gold, which ceased operations in the late 1990s due to financial difficulties and low gold prices.
Drill highlights from the 2011 program include (full table at bottom of release):
-- 5.91 g/t gold over 18.4 metres, including 11.93 g/t gold over 7.8 metres in hole PK-04; -- 6.75 g/t gold over 7.5 metres, including 13.52 g/t gold over 3.2 metres in PK-03; -- 6.23 g/t gold over 8.7 metres, including 12.05 g/t gold over 3.0 metres in hole PK-02.
NOTE: Primary drill composites were calculated using a cut-off of 0.30 g/t, with variably higher cut-offs for the sub-intervals. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 60-100% of the reported lengths.
The six holes drilled in 2011 are near-twins of existing holes in two locations, one to the north of the main pit and one located between two satellite pits to the southeast. These initial drill results provide confidence that historical drilling accurately quantified the gold endowment at Kinsley Mountain.
Pilot Gold further reports that Kinsley Mountain shares the same unique combination of rocks, stratigraphy, structure and mineralization as Long Canyon, a high-quality deposit their technical team defined and advanced to a multi-million-ounce gold resource prior to Fronteer Gold's acquisition by Newmont Mining Corporation in April, 2011. Kinsley Mountain is located approximately 60 miles (90 kilometres) to the southeast of Long Canyon. In October, 2011, Pilot Gold staked an additional 128 new claims to almost double the project area to 5,426 acres (2,196 hectares).
Bill Henderson, President and CEO of Nevada Sunrise commented, "The quality of Pilot Gold's exploration team and their prior success at Long Canyon made them a natural choice as our earn-in joint venture partner at Kinsley Mountain. Since Kinsley Mountain and Long Canyon share so many attributes in common, we are very pleased that the first round of drilling by Pilot Gold at Kinsley Mountain resulted in such a successful program."
2012 WORK PROGRAM
As with Long Canyon, Pilot Gold plans on advancing Kinsley Mountain through detailed geological analysis, aggressive drilling and deposit modeling. They anticipate earning their initial 51% interest in the project by Q2 2012. Their planned 2012 work-program includes:
-- Deposit modelling: Creation of a three-dimensional model of geology and mineralization to aid in the selection of new drill targets, and further compilation of extensive historic databases. -- Drilling: 12,000 metres of drilling is planned. The first priority will be infill and step-out drilling on mineralized zones identified in historic drill programs. In addition to near-mine drilling and resource definition, a comprehensive effort to identify new targets will be undertaken, encompassing both the original 141 claims as well as the 128 claims staked by Pilot Gold to the north, a largely unexplored area. -- Resource estimation: Pilot Gold anticipates completing a project first resource by year-end. -- Development activities: Preliminary metallurgical work, hydrological, environmental and baseline studies; and, submission of a Plan of Operation to the U.S. federal government to allow for property-wide drilling.
FOR DOWNLOAD (Courtesy of Pilot Gold)
- Drill results map: http://www.pilotgold.com/sites/default/files/KinselyDrillMap_1202.pdf
- Long Canyon comparison / Mineralization: http://www.pilotgold.com/sites/default/files/KinsleyMineralizationComparison_1202.pdf
- Project overview: http://pilotgold.com/our-projects/kinsley
2011 DRILL RESULTS ----------------------------------------------------------------- From To Interval Gold Silver Hole ID (metres) (metres) (metres) g/t g/t ----------------------------------------------------------------- PK-001C 88.5 105.3 16.8 1.64 3.3 PK-002C 111.7 120.4 8.7 6.23 2.1 Including 117.3 120.4 3.0 12.05 3.5 and 131.7 135.0 3.4 0.33 1.9 PK-003C 102.7 110.2 7.5 6.75 1.4 Including 107.0 110.2 3.2 13.52 2.3 PK-004C 42.7 61.1 18.4 5.91 2.5 Including 45.7 53.5 7.8 11.93 4.2 and 148.0 152.1 4.1 0.54 2.1 PK-005C 36.9 39.6 2.7 0.65 0.2 and 159.6 165.0 5.5 0.58 1.6 166.7 167.6 0.9 0.06 2790.0 PK-006C 53.0 63.4 10.4 0.95 2.8 -----------------------------------------------------------------
About Nevada Sunrise
Nevada Sunrise (TSX VENTURE:NEV.V - News) is a publicly-traded gold exploration company that holds a portfolio of three projects in Nevada, namely Kinsley Mountain, Golden Arrow, and Pinnacle, totaling approximately 15,735 acres (6,368 hectares) of prospective land. The Company applies the exploration experience and technical skills of its founders to search for and acquire new gold exploration projects that are developed internally and then offered for joint venture.
For the latest details on the Company, its properties, management team and philosophy, please visit our website at www.nevadasunrise.com.
This news release was prepared by Company management, who take full responsibility for its content. The technical disclosure in this news release has been reviewed by Richard Kehmeier, C.P.G., a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, including those exploration activities at Kinsley Mountain operated by Pilot Gold, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation, and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of minerals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
.
.
Contact:.
.
William B. Henderson
Nevada Sunrise Gold Corporation
President and Chief Executive Officer
(530) 887-9901
(530) 884-3822 (FAX)
info@nevadasunrise.com
www.nevadasunrise.com
I guess the call went well! Up almost 20%
Anybody listen and have some highlights for us?
Taylor says buy Pretium
2012-02-03 18:21 ET - In the News
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
PVG +5.37% $17.08 new all-time high on strong volume. Been climbing steadily higher all day.
$18.50 private placement and newsletters saying accumulate anything under $20. Future remains bright!
PVG and GORO both now have a market cap of $1.4B.
They are apples and oranges, but I though it an interesting fact.
I've put in a request to change the board ticker to PVG on the NYSE.
Pretivm PVG not feeling the gold mining love of the past couple of days. Hard to complain though as it still hovers near all-time highs. I guess it needs a breather.
Pretium increases private placement to $23.12-million
2012-01-24 06:18 ET - News Release
Mr. Robert Quartermain reports
PRETIVM ANNOUNCES EXERCISE OF UNDERWRITERS' OPTION ON PREVIOUSLY ANNOUNCED BOUGHT PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
The syndicate of underwriters, led by Salman Partners Inc. and including GMP Securities LP and Cormark Securities Inc., has exercised the option to purchase an additional 250,000 flow-through common shares pursuant to Pretium Resources Inc.'s previously announced bought deal financing. Pretium has agreed to issue by way of private placement a total of 1.25 million flow-through shares of Pretium at a price of $18.50 per flow-through share for aggregate gross proceeds of $23,125,000. The offering is now scheduled to close on or about Feb. 17, 2012, subject to regulatory approvals.
The gross proceeds of the offering will be used to accelerate exploration of the Valley of the Kings zone with infill and expansion drilling in support of a feasibility study on the high-grade opportunity at the Brucejack project anticipated to be completed by year-end. The gross proceeds of the offering will be used during the 2012 exploration program to incur eligible Canadian exploration expenses (CEE) that will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada), and British Columbia flow-through mining expenditures, as defined in the Income Tax Act (British Columbia), which will be renounced to the subscribers with an effective date no later than Dec. 31, 2012. In the event the company is unable to renounce qualifying expenditures effective on or prior to Dec. 31, 2012, to the initial purchasers of flow-through shares in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares or such expenditures are reduced by the Canada Revenue Agency, the company will indemnify each flow-through share subscriber for the additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.
We seek Safe Harbor.
Pretivm PVG not feeling the gold mining love of the past couple of days. Hard to complain though as it still hovers near all-time highs. I guess it needs a breather.
Pretium increases private placement to $23.12-million
2012-01-24 06:18 ET - News Release
Mr. Robert Quartermain reports
PRETIVM ANNOUNCES EXERCISE OF UNDERWRITERS' OPTION ON PREVIOUSLY ANNOUNCED BOUGHT PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
The syndicate of underwriters, led by Salman Partners Inc. and including GMP Securities LP and Cormark Securities Inc., has exercised the option to purchase an additional 250,000 flow-through common shares pursuant to Pretium Resources Inc.'s previously announced bought deal financing. Pretium has agreed to issue by way of private placement a total of 1.25 million flow-through shares of Pretium at a price of $18.50 per flow-through share for aggregate gross proceeds of $23,125,000. The offering is now scheduled to close on or about Feb. 17, 2012, subject to regulatory approvals.
The gross proceeds of the offering will be used to accelerate exploration of the Valley of the Kings zone with infill and expansion drilling in support of a feasibility study on the high-grade opportunity at the Brucejack project anticipated to be completed by year-end. The gross proceeds of the offering will be used during the 2012 exploration program to incur eligible Canadian exploration expenses (CEE) that will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada), and British Columbia flow-through mining expenditures, as defined in the Income Tax Act (British Columbia), which will be renounced to the subscribers with an effective date no later than Dec. 31, 2012. In the event the company is unable to renounce qualifying expenditures effective on or prior to Dec. 31, 2012, to the initial purchasers of flow-through shares in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares or such expenditures are reduced by the Canada Revenue Agency, the company will indemnify each flow-through share subscriber for the additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.
We seek Safe Harbor.
I was taking a look at Silver Standard last week as well.
My napkin notes:
SSRI
Market Cap 1.2 billion
36,163,333 Pretivm Shares worth $563 million
2012 guidance:
-- Produce 8.2 to 8.5 million ounces of silver;
-- Produce 10.5 to 11.5 million pounds of zinc; and
-- Direct mining cost of $11.85 per ounce of silver based on a nominal direct mining cost of $100.8 million.
Pretivm Files 43-101 Technical Report On Its Brucejack Project
http://finance.yahoo.com/news/Pretivm-Files-43-101-iw-2776926996.html?x=0
VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/12/12)- Pretium Resources Inc. ("Pretivm") (TSX: PVG.TO - News)(NYSE: PVG.TO - News) is pleased to report that it has filed on SEDAR a Technical Report for the resource estimate on its Brucejack Project, further to its news release dated November 28, 2011 announcing a significant increase in Brucejack's high-grade gold resources.
The Technical Report dated January 12, 2012 will also be available on Pretivm's website at www.pretivm.com.
About Pretivm
Pretivm is creating value through gold at its advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack, which hosts a significant undeveloped high-grade gold resource.
(SEDAR filings: Pretium Resources Inc.)
Forward Looking Statement
This Press Release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, information with respect to our plans, costs and timing for future exploration (including updated resource estimates) and development activities, results of future exploration, timing and receipt of approvals, consents and permits under applicable legislation, production and developments in our operations in future periods and adequacy of financial resources. Wherever possible, words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify forward-looking 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 (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) 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 final short-form prospectus dated April 4, 2011 filed on SEDAR at www.sedar.com. 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.
The TSX has neither approved nor disapproved of the information contained herein.
.
.
Contact:.
.
Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
(604)558-1784
Pretium Resources Inc.
Michelle Romero
Investor Relations Director
(604)558-1784
invest@pretivm.com
www.pretivm.com
So its more delays, as is typical in mining, but concerns about not getting the permit at all seem rather unwarranted, despite what the fear mongers would have you believe.
Timberline Provides Initial Mine Plan and Permitting Update for the Butte Highlands Gold Project
http://finance.yahoo.com/news/Timberline-Provides-Initial-iw-4235023592.html?x=0
COEUR D'ALENE, IDAHO--(Marketwire -01/12/12)- Timberline Resources Corporation (TSX-V: TBR.V - News)(AMEX: TLR - News) ("Timberline" or the "Company") today provided an initial mine plan and permitting update for the Butte Highlands Joint Venture Gold Project in southwestern Montana.
With the receipt of final assays from last year's 50,000-foot underground drilling program, Timberline's joint venture partner and project operator, Highland Mining ("Highland"), of Boise, Idaho, has provided Timberline with the following guidance:
-- The initial mine plan at Butte Highlands will target production of approximately 400 to 500 tons per day for the first four years of operation. The mineralized material is expected to be direct shipped to a nearby mill.-- Results from hydrology studies at Butte Highlands indicate the need to pump and discharge more water from the mineralized area than previously anticipated. The project will require an additional water discharge permit and the construction of additional water treatment facilities. Subsequently, Highland is now targeting the issuance of the Hard Rock Operating Permit in mid-2012, and the commencement of shipments to the mill later in the year.-- Highland is working with the United States Forest Service and the public to evaluate and permit a haulage route from the mine site. Highland will include its proposal as part of its final operating permit application responses to be submitted to the Montana Department of Environmental Quality.
Highland is controlled by Ron Guill, a Timberline director and the Company's largest shareholder. Mr. Guill stated, "We have made considerable progress in the development and permitting of the gold mine at Butte Highlands. We are generating an initial mine plan for our first four years of production at a higher projected gold grade than was previously anticipated. However, as is very common with underground mining operations, our timelines have required modification as the project has advanced."
Timberline's unique partnership at Butte Highlands calls for its retention of a 50-percent project interest while being carried to production by Highland Mining. Once in production, Timberline is to receive 20-percent of project cash flow until Highland recovers its initial capital expenditures, at which time Timberline will receive 50-percent of cash flow. A feasibility study has not been completed on the Butte Highlands project, and there is no certainty the proposed operations will be economically viable.
Mine development and mining operations at Butte Highlands have been sub-contracted to Small Mine Development ("SMD"), an experienced underground mine operator which has performed mine development and mining operations for some of the largest mining companies in North America, including Newmont Mining and Barrick Gold.
About Timberline Resources
Timberline Resources Corporation is exploring and developing advanced-stage gold properties in the western United States. The Company is primarily focused on the goldfields of Nevada, where it is advancing its flagship Lookout Mountain Project toward a production decision while exploring a pipeline of quality earlier-stage projects at its South Eureka Property and elsewhere. Timberline also features a 50-percent carried-to-production interest at its Butte Highlands Joint Venture where gold production is targeted to commence later this year. Timberline management has a proven track record of discovering economic mineral deposits and developing them into profitable mines.
Timberline is listed on the NYSE Amex where it trades under the symbol "TLR" and on the TSX Venture Exchange where it trades under the symbol "TBR".
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the timing or results of the Company's drill programs at Butte Highlands and South Eureka, the timing of assay results from such drilling programs being released, the district-scale potential of the South Eureka project, the expansion of the mineralization at the South Eureka project, the timing of a production decision at the South Eureka project, the Company's 50/50 joint venture with Highland Mining LLC, the development and production of the Company's Butte Highlands project and South Eureka project, the targeted production date for the Butte Highlands project, possible growth of the Company and the Company's expected operations. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "intend" and "expect" and similar expressions, as they relate to Timberline Resources Corporation, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, risks related to the timing and completion of the drilling programs at Butte Highlands and South Eureka, risks and uncertainties related to mineral estimates, risks related to the inherently dangerous activity of mining, and other such factors, including risk factors discussed in the Company's Annual Report on Form 10-K for the year ended September 30, 2011. Except as required by Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
.
.
Contact:.
.
Timberline Resources Corporation
Paul Dircksen
CEO
208.664.4859
Yahoo board seeing some action, a good couple of posts there from mclq:
As we say goodbye to this venerable old message board, a board that gets a posting a month, we shed a tear, a tear of joy, because the party is moving to the new board that Yahoo will automatically set up when PVG goes to the NYSE. And then tens of thousands of new eyeballs will look at a stock run by one of the top two guys in the biz (McEwan is the other) with one of the largest in ground assets on the planet in one of the most stable countries in the world, and with a balance sheet about to be topped up by happy warrant holders buying new shares at a discount. $25 by New Years 2013, assuming the world does not come to a sudden end. See you next year and happy hunting
1. The fact that this stock has been on a tear while remaining relatively unknown is itself bullish. Means most of the buyers are the funds and large players. These always position themselves first.
2. Backstory is a factor. Quartermain, one of the biggest names in the game, formerly behind SSRI, came out of retirement to run this puppy. This is a guy who gets things right the first time.
3. Interviews with Quartermain on Youtube, other spots. Google
4. High price distresses the specs, attracts the funds. Another plus
5. 12.50 warrants expire first week of April. Holders will convert, huge cash source for firm, no need to chase new funding.
6. Main asset M&I just doubled. Secondary asset ideal to be third-partied
7. Socialism now an issue in S.A and Africa, not in Canada, bless the Tories.
etc etc etc etc
DING DING DING! Tomorrow is the big day!
Just imagine if gold were hitting new all-time highs, too.
Any particular reason you sold half? Just diligent profit taking or something else?
I think the move continues through the listing on Thursday and continues.
Pretivm new all-times highs PXZRF.PK +7.62% $15.55
PVG.TO +$0.87 $15.75
High volume again, new highs throughout the day.
PVG.TO closed at high of day, new all-time high +1.17 $14.88 2.42X avg. volume
PXZRF.PK +7.74% $14.45
Aha, thanks for sharing. Still seems weird to me that they would convert though. What if a US investor wants to hold their shares on the Toronto exhange for the currency play as well? Seems like they would do that by holding PXZRF instead of the new NYSE PVG. Oh well, the shares are doing terrific no matter what currency you look at them in!
PXZRF.PK +7.67% $14.44
PVG.TO +$1.04 $14.75
I would call scottrade and ask. I believe your PXZRF shares represent PVG shares on the TMX - Toronto Stock Exchange, so don't think that they would convert. They are not moving to the NYSE, just adding. Please post scottrades reponse if you ask them.
Pretivm new all-time high on NYSE listing news!
PVG.TO +0.95 $14.66 PXZRF.PK +6.5% $14.29
While average miner was down 16% last year, Pretivm roughly doubled, or more, depending on your time frame with their listing and availability. (pink sheet buying through US brokerages was not available until differing times in January).
NYSE listing will bring in a lot of new eyes for this miner in particular I think. Many big US guys don't even care to look at something that's only been listed in Canada for a year or so... they'll care now!
Pretium Resources Inc. to List on NYSE Under Symbol "PVG"
http://finance.yahoo.com/news/Pretium-Resources-Inc-List-iw-260347904.html?x=0
VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/09/12)- Pretium Resources Inc. ("Pretivm") (TSX: PVG.TO - News) is pleased to report that it has been authorized to list its common shares on the New York Stock Exchange ("NYSE"). Pretivm intends to begin trading on the NYSE on January 12, 2012 under the symbol "PVG", and will commemorate the listing by ringing the opening bell that day.
"We have made rapid progress since our launch just over a year ago with exploration success and a significant growth in gold resources," said Robert Quartermain, Pretivm's President and Chief Executive Officer. "The NYSE listing provides an additional platform to expand Pretivm's international profile and broaden our investor base."
Pretivm will retain its primary listing on the Toronto Stock Exchange under the trading symbol "PVG".
About Pretivm
Pretivm is creating value through gold at its advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack, which hosts a significant undeveloped high-grade gold resource.
(SEDAR filings: Pretium Resources Inc.)
Forward Looking Statement
This Press Release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, information with respect to our plans, costs and timing for future exploration (including updated resource estimates) and development activities, results of future exploration, timing and receipt of approvals, consents and permits under applicable legislation, production and developments in our operations in future periods and adequacy of financial resources. Wherever possible, words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify forward-looking 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 (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) 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 final short-form prospectus dated April 4, 2011 filed on SEDAR at www.sedar.com. 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.
The TSX has neither approved nor disapproved of the information contained herein.
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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
Investor Relations Director
(604)558-1784
invest@pretivm.com
www.pretivm.com
Pretium to list on NYSE Jan. 12
2012-01-09 06:20 ET - News Release
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC. TO LIST ON NYSE UNDER SYMBOL "PVG"
Pretium Resources Inc. has been authorized to list its common shares on the New York Stock Exchange. Pretium intends to begin trading on the NYSE on Jan. 12, 2012, under the symbol PVG and will commemorate the listing by ringing the opening bell that day.
"We have made rapid progress since our launch just over a year ago with exploration success and a significant growth in gold resources," said Robert Quartermain, Pretium's president and chief executive officer. "The NYSE listing provides an additional platform to expand Pretium's international profile and broaden our investor base."
Pretium will retain its primary listing on the Toronto Stock Exchange under the trading symbol PVG.
We seek Safe Harbor.