RE:RE:RE:RE:RE:Head Scratcher
At first glance, having looked at the financials, Pretium is quite reasonable valued at market these days to a mid-price of gold around $1800. If they expand their resource (which is likely with the re-categorization of certainty as their tunnelling allows them to firm up previously inferred ounces, and the POG rises towards $2200, they can double towards $30 CDN/share ... but the real upside is you get a free multi-prong exploration play with positive cashflows that prevent too much dilution.
One thing that is definitely encouraging, is having an operating mine within spitting distance that is valued at $2.2 billion or so, net of borrowings. There is plenty of upside value to share around the amigoes if they could ever find a Brucejack twin.
But, maybe Pretium doesn't offer the leverage of some others at this stage, my gut says wait and see, they are priced not so badly against today's market.
cg
cg