Pretivm Resources Inc. (PVG)

[silver100]

Van Sun says Pretium, others show life in mining sector

2014-11-14 06:44 ET - In the News

Also In the News (C-AEM) Agnico Eagle Mines Ltd
Also In the News (C-CYD) Cayden Resources Inc
Also In the News (C-SEA) Seabridge Gold Inc

The Vancouver Sun reports in its Friday edition the EY Canadian Mining Eye index dropped 15 per cent in the third quarter, dragged lower by the fall in metal prices, particularly gold, which fell 8 per cent in the quarter. The Sun's Derrick Penner writes despite continuing weak metal prices that are expected to dog the industry into 2015, the light has not completely died out for prospective new projects. For example, Seabridge is looking for a well-financed partner to help build its proposed $5.3-billion KSM mine, which just won environmental approval, in far northwestern British Columbia. Pretium Resources is continuing to develop its Brucejack property farther south in the same region. Both companies have raised new money for exploration programs and EY's Bruce Sprague said the industry has an appetite for bigger investments, even while cost-cutting and rationalization are still the mantras within existing mining operations. Private capital is looking to strike partnerships with B.C. companies that have local expertise, but potential deals are not developing quickly because of weak metal prices. Agnico Eagle launched a $205-million acquisition of Cayden Resources, aiming for its concessions in Mexico.

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