IKN

More matter with less art

Pretium (PVG) (PVG.to) is subject of the day in the junior mining world…

…of course, due to the NR out this morning that’s returned better than expected gold numbers from the 10,000 tonne bulk sample so far. Right now, with around 45 minutes before the open the US PVG ticker is about 25% up in thinnish pre-mkt activity, so that’s a type of benchmark I suppose. 
I’ve been fielding a few mails on PVG and the NR contents this morning, so in order to state the position clearly to a slightly wider audience here’s a reply I sent to A.N Other just a couple of minutes ago. Reproduced here for your information, as it gets to the point succinctly
I don’t see why PVG should rally on the NR, barring a relief-type pop
that then fades as the smarter end of the mkt uses it as a useful exit
opportunity (see how LYD has traded recently for a model). The doubt has
never been about the gold content of the sample. Today we find the
sample has gold (and perhaps a little more than expected) but so what?

The
key word in the whole story is still “representative” and it doesn’t
matter whether the 10kt bulk sample comes in with triple the amount of
gold than expected, the question of whether PVG’s testing method
represents the larger deposit has not gone away.


If it runs harder than i expect today, i’ll short it.

I don’t find this issue particularly complicated. dyodd, dude.

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