hanging wall zone 1500 metersThis is a pocket change expenditure. However, when you are pinching pennies expending even such a small sum of money becomes questionable. Pretium could just as easily have added 1500 more meters of drilling to the snowfield east zone....
So what was Perron thinking....There are a slew of high grade open pittable deposits in the near vicinity of the valley of the kings mill. They effectively add 9 million ozs of gold and tens and tens of millions of ozs of silver to Pretium's measured and indicated reserves in the area. Obviously, the development of these high grade open pits could totally transform the pretium dynamic. The problem is the companies excessive debt makes advancing the high grade open pit development difficult at the moment... This is another reason perron was preoccupied with the debt load at pretium during the quarterly press conference call.
So in effect by introducing the hanging wall drill test Pretium tsignaled that they are very much engaged with the prospect of developing these high grade open pits. That they also also know the analysts and short shrifters will kick the bucket out from under them in regards to their financial recklessness if they move to quickly in adding to the already outrageous company debt load.
But gee they can still take a swing for the fences at the hanging wall nevertheless... For a few bucks and with a little bit of luck they have a chance to alter the perception of the highgrade open deposits near the valley of the kings big time..