PVG... Canaccord Morning Coffee....
Pretium Resources* (PVG : TSX : $14.88), Net Change: 1.17, % Change: 8.53%, Volume: 670,155
Up up and away. Shares of Pretium Resources rose to an all-time high on news the company was granted the right to list its
shares on the NYSE. PVG announced that the company’s shares would begin trading on the NYSE as of January 12, 2012. PVG
shares have had a great run since the company announced a significant increase in the gold resource at its Brucejack project in
northern B.C. As a result of the update, gold ounces increased significantly at both the high-grade and bulk tonnage resources.
Using a 5.0 g/t gold equivalent cut-off grade, the high-grade resource increased by 460% to 5.06 million ounces in the Measured
and Indicated resource of 9.3 million tonnes grading 16.92 g/t, along with 3.33 g/t of gold in the Inferred resource at 4.0 million
tonnes grading 25.67 g/t. For the bulk tonnage resource the company increased ounces by 164% to 8.46 million ounces of gold
in the Measured and Indicated category with another 6.76 million ounces of gold in the Inferred category. An upgraded
Preliminary Economic Assessment in currently being compiled and is scheduled to be completed in Q1/12. The company will
also shortly commence a feasibility study for the high-grade resource. The Brucejack Project comprises seven modeled deposits.
–The resource models are based on 1,190 diamond drill holes totalling 219,394 metres, which include 452 historical surface drill
holes, 442 historical underground drill holes exclusively in the West Zone, and 296 surface drill holes completed since 2009. |
