Insider Selling At Pretium Resources, PVG

On Thursday, January 10, 2019, Pretium Resources issued a press release: Pretivm Initiates Inquiry Into Trading Of Its Shares.

Short and sweet, the company reports that it has retained independent legal counsel to initiate an investigation of unusual trading activity in its shares.

Pretivm trades on the TSX and NYSE under the ticker symbol "PVG".

Pretivm is an Established Intermediate Producer

First Year Success Highlights (July 1, 2017 - June 30, 2018)

  • 2,700 tpd nameplate capacity
  • 339,500 oz gold produced
  • 97% average gold recoveries
  • Steady state production
  • Strong cash generation
  • ~20-year mine life
  • Expansion on track

Pretivm is creating value through gold, producing 339,500 oz Au in the first year of operations (July 1, 2017 - June 30, 2018) at the 100% owned Brucejack Mine and firmly establishing the company as an Intermediate Producer.

The Brucejack Mine is a 2,700 tonnes-per-day high-grade gold underground mine located in northwestern British Columbia, approximately 65 kilometers north of Stewart.  Pretivm has applied to increase production to 3,800 tpd and is awaiting the amended permit.

A feasibility study completed in June 2014 and updated in December 2016 has outlined Proven and Probable mineral reserves in Brucejack’s Valley of the Kings comprising 8.1 million ounces of gold.

So, what is really going on?

This is not rocket science. Insiders (officers and directors) have been selling shares in PVG from May 17, 2018 through December 24, 2018.

Perhaps PVG does not need an attorney to investigate trading activity, just ask their own officers and directors why 'they' are selling.

Total shares valued at C$9,178,605 have been sold from May 17 - Dec 24, 2018.

Sellers are:

  • Ovsenek J.J.-President & CEO
  • Smith, D. - Director
  • Paspalas, G.N.- Lead Director
  • McNaughton, K.C. - VP & Chief Exploration Officer
  • Vip, T. - Executive, VP & CFO
  • Romero, M.A. - Executive VP and Corporate Affairs & Sustainability
  • Quartermain, R.A.- Executive Chairman
  • Board, W. - VP, Geology & Chief Geologist
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Disclosure: I have never personally owned shares in PVG and do not have a short position, but I keep my eyes are hundreds of companies and the insider activity.

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