Flow through private placement - what does this say?What does it say about Pretium that they draw in outside capital for exploration while they are in production? Bear in mind that they are operating a high grade mine that should be well enough cash flow positive to fund expansion exploration from current mine activity. This is how it is normaly done. Why do they not do this here and now?
I do not have a good answer to this, but it does leave a negative impression in my mind.
As to the pricing of the flow through shares, the buyers have a tax advantage that allows them to pay premium price, sell lower, and still have a good return. The numbers depend on the buyers marginal tax rates.