I assume you also follow PVG (Pretium Resources), what a fiasco that has turned out to be and if you are going to update anything, that might be on the top of your list. I am sure you subscribe to stockwatch. If so, log on and look at the news through their Candian listing....then look at the news through their US listing? What a huge difference.....last I looked no litigation news on the Canadian side and a Shark feedy litigation frenzy on the US side. I own a little and think that both PVG and Snowden should sue Strathcona.....What poor professionalism imo.
Thanks again and have a great evening....
Scott
It's very odd that Pretium has not had a news release about the lawsuits. That is very unusual. I'm going to call their investment relations guy and ask some questions. I'll also send an email and see if they reply.
Not a single release about those lawsuits:
http://www.pretivm.com/news/default.aspx
But I found the lawsuits. How can they ignore these? The odd thing is that the drill results have been solid. I wonder what the VOK Zone is. Their investment relations guy probably will be hard to contact. I would imagine his phone is ringing off the hook. We should get a news release any day. One funny thing is that anyone who invests in gold mining stocks is uninformed if they don't understand that it is a high risk investment. These lawsuits are not likely to go anywhere.
There was a positive news release today regarding the bulk sampling. I think they are not replying because they think the lawsuits are frivolous and they don't want to bring more attention to them.
http://www.pretivm.com/news/news-details/2013/Pretium-Resources-Inc-More-High-Grade-Gold-Encountered-in-Underground-Exploration-Drilling-Bulk-Sample-Update/default.aspx
On Oct. 22, 2013, Pretium Resources Inc(NYSE:PVG) disclosed that Strathcona Mineral Services Ltd ("Strathcona"), who were engaged in late 2012 as independent Qualified Persons to oversee the 10,000-tonne bulk sample and produce a report at the conclusion of the Valley of the Kings Bulk Sample Program (the "Program"), withdrew from the Program on October 8, 2013 before any results from the processing of the bulk sample were available. Pretium Resources Inc said that in withdrawing from the Program, Strathcona advised Pretium Resources Inc that "…there are no valid gold mineral resources for the VOK Zone, and without mineral resources there can be no mineral reserves, and without mineral reserves there can be no basis for a Feasibility Study."
Regards,
Don
Follow up email:
I had not read this news release. It clarifies what happened to a certain extent. Strathcona withdrew before there were any results. This is very strange. Why quit when you have a contract to work?
http://www.pretivm.com/news/news-details/2013/Pretium-Resources-Inc-First-Bulk-Sample-Cross-Cut-Processing-Results/default.aspx
If CEO Bob Quartermain is confident everything is fine, then that makes me hopeful the feasibility study is still valid. We won't know anything until December after they process the 10,000 tons of the bulk sample. I do have concerns after the initial results, which were substantially below expectations (2 gpt). This could be a smaller mine than anticipated, with lower grade and higher costs. The risk level definitely increased for this stock.
Regards,
Don
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