Pretivm Resources Inc. (PVG)

[silver100]

Int'l Speculator says buy Pretium Resources

2014-08-19 18:23 ET - In the News

The International Speculator, in its Aug. 6, 2014, issue, says buy Robert Quartermain's Pretium Resources Inc. at $7.49, officially, "Best buy first tranche." 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 five more times between Sept. 5, 2011, and Jan. 6, 2014, at prices ranging from $5.49 to $16.69. Assuming five more $1,000 purchases, and taking into consideration the $500 investment remaining from the March 4, 2011, sell, the $5,500 position is worth $4,516. The writer begins by going over Pretium's big public dispute last year with contractor Strathcona Mineral Services. Strathcona challenged Pretium's resource estimate at the Brucejack project's Valley of the Kings zone in Northern British Columbia. Not surprisingly, the writer sides with Pretium and notes the official tally is 6.9 million ounces of gold, proven and probable. He believes Brucejack "may be the richest gold deposit in the world." The cost of developing the mine is $750-million, and he adds, "I am sure Bob will be able to raise the money."