What article did you read? Private or can you share?
They have two BIG projects from Silver Standard as well as the distinguished Mr. Quartermain. Brucejack AND Snowfield.
“For Snowfield, an update of the September 2010 resource estimate is being prepared incorporating the approximately 18,000 meters of drilling in 44 drill holes completed in 2010.
For Brucejack, two resource estimates are being prepared incorporating the 33,100 meters of drilling in 73 drill holes completed in 2010: a higher-grade resource estimate focusing on gold mineralization grading greater than three grams of gold per tonne; and an update of the December 2009 bulk tonnage resource estimate.
All three of these resource estimates are expected to be completed in the first half of 2011 and are Pretivm's current priority.”
Previous estimates from 2009 put Brucejack and Snowfield at over 40Moz already (inferred +measured & indicated) – 51,000 meters of drilling in 2010 will add to that. And that completely ignores the Copper, silver, molybdenum and rhenium mineralization at Snowfield.
Even if you ignore last year’s drilling and all metals besides gold, and the tremendous exploration potential for more and the great management - just take into account the 26 Moz (M&I only) already there in terms of Total Enterprise value/resources – they are valued below any other similar project currently. Look at slide 21 at http://www.pretivm.com/i/pdf/CorporatePresentation.pdf
This calculation is a favorite of the funds/big money etc. But Pretium is so new that other players have not yet had time to examine Pretium on its own yet. Their analyst reports will come out soon enough and I expect a big move once that happens. Not to mention when new resource estimates and also new drill results come out.
I don’t ever really go for resource plays – prefer the near term production/ramping up production plays, but I could not resist this one.
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