PVG: Down today because the new PEA shows costs to develop to production have increased 55% since June, 2011 PEA. One might expect additional financing will be needed (spell that possible D I L U T I O N).
"The total estimated initial capital cost for the Brucejack high-grade project is $436.3-million, an increase of 55 per cent 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, preproduction mining costs have increased from $52-million to $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 $42-million. The estimated operating cost of electrical power supplied from the transmission line is six Canadian cents per kilowatt hour versus 33 Canadian cents per kilowatt hour supplied from diesel as contemplated in the previous PEA."
IMHO: The price of PVG is bouncing, however, because the new PEA showed MEGAWHOMPER numbers for Net Present Value based on estimated production over the life of the mine.
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