RE:Contingent liabilitiesHi Msleebc- Thanks for the kind words. The suits are aimed specifically at the directors of Pretium and I would think that there is sufficient coverage under the errors and ommissions insurance policies. There has been notes in the financial reports indicating that the deductible portion of the
insurance policies had been reached and the insurance company is now on the hook to defend the directors.
I also have read that there has been no advancment of any of the suits for the past year or so (either stateside or in Canada).
As construction progresses and drilling continues it looks lik the gold is there and the correct response to the Strathcona resignation was to wait for the bulk sample results before commenting as there was obviously a major difference between the conclusions drawn by Snowdens and Strathcona when both had access to the same data and both were contracted to Pretium to evaluate the orebody. The resignation of Strathcona was announced in a timely manner but the conclusions reached by Farquarson were no more valid than Snowdens at the time of the resignation as the bulk sample extraction and processing was incomplete.
I do not think the lawsuits have any merit but when you go to court you really never know until the judgement is released.
If the judgement is in favour of the plaintiffs it would not be good for the reputation of the Pretium management but I still have faith in Quartermain and Ovsenek and cannot imagine anyone better qualified to lead this company.