Anyone have any thoughts about this miner? They seem to have huge resources and are very undervalued. They also have a great CEO in Quartermain, anyone see any reason NOT to invest in this miner? I'm also looking for more info on upside that people have seen. Thanks in advance, I bought a few hundred shares yesterday but want to crowd source this one a bit in case I am missing something important.

Cheers,

BtG

BtG, Brian sold me on Pretium quite some time ago. Indeed, for several weeks there I was getting "Pretium" and "Premium" confused - until I finally grabbed a few shares of BOTH, and then managed to keep them straight after that.

I don't LIKE buying $10 stocks (lol!), but I had to grab a little piece of this one. Note that one way you can move UP the "food chain" to lower the risk-level a bit - while still maintaining the "growth potential" of an exploration company is to add one or two of the BIGGER "advanced-stage exploration" companies.

In my case, I sold ONE of these companies where I had ALREADY made a big gain (Detour Gold), and bought ANOTHER company quite similar - but at a slightly earlier stage of development.

Another well-known name which would fall into this group is Seabridge Gold.

So, here is where even relatively NEW investors can pull out their calculators, do some "homework", and decide for themselves which of these three (or perhaps one or two others) looks like the best buy TODAY.

In other words, with companies like this with a BIG, proven deposit it goes without saying that at SOME POINT they were a "fantastic buy". But that does not mean they are "cheap" TODAY.

Look over these companies' websites. Find out the latest share counts (so you can calculate their "fully-diluted" market cap). Find out how much MONEY they are holding at the moment. Obviously this is a GREAT example of the type of company it is MUCH better to buy after a financing rather than before one.

Note that despite how Brian makes no secret of his preference for some of the SMALLER juniors (like Helio Resource Corp and Premium Exploration), that all THREE of the names I mentioned above are in Brian's "Mining Company Database":

www.bullionbullscanada.com/index.php?opt...id=71&Itemid=145

Hi Jeff,

I found your post helpful and decided to put together a brief list of the various companies on the board and place them in their appropriate category. As you mentioned it is good to diversify between the metals as well as the various aspects of the industry - explorer and miners.
As I went through the exercise I found that many companies are not only in the exploration aspect of the industry, but they are also miners thus categorizing them was rather difficult. I expect I erred in some.
My question is:
How does one establish what mining group they would fall into? e.g. explorer, junior, intermediate or senior .
I understand it is prudent to be in all four categories or both the gold and silver. I hope this info is not in the education vault as I have not yet completely read all the articles 


GOLD
Explorers
HELIO RES CORP. (TSXV: HRC.V )
PRETIUM RESOURCES INC. (Toronto: PVG.TO )
PELANGIO EXPLORATION INC. (TSXV: PX.V )
ATAC Resources Ltd.(TSXV: ATC.V )
Miners
Junior Miners
LAKE SHORE GOLD CORP. (Toronto: LSG.TO )
Senior Miners
SEABRIDGE GOLD INC. (Toronto: SEA.TO )
DETOUR GOLD CORPORATION (Toronto: DGC.TO )

SILVER
Explorers
WILDCAT SILVER CORPORATION (Toronto: WS.TO )
Miners
Junior Miners
SCORPIO MINING CORP. (Toronto: SPM.TO )
GREAT PANTHER SILVER LIMITED (Toronto: GPR.TO )
Senior Silver Producer
FIRST MAJESTIC SILVER CORP. COM (Toronto: FR.TO )
Silver Streaming
Silver Wheaton Corp Common Shar (NYSE: SLW )

Yes Debsyl, much of this IS in our "Education Vault" - a box on the left side of the page, about half-way down.

We knew from the day we started Bullion Bulls Canada that there would be ENORMOUS numbers of investors (eventually) coming to this sector, most of whom needed to LEARN about these companies. We decided that we could do a better job of providing that "education" than any other precious metals website.

So as our archives of commentaries grew, we plucked-out the ones with the most educational value and grouped them all together. One half teaches about the bullion market itself, and one half teaches about the miners. Note that ALL these commentaries also remain in their original location in our archives of "gold" and "silver" commentaries.

In the case of your question, there's really two aspects to it:

1) Defining the miners by FUNCTION
2) Defining the miners by SIZE

When it comes to discussing "function", we've covered ALL of that in our "Making Money on Miners" series, and also to some extent in our "Reseaching Mining Companies" series. (Note: the last two installments of "Making Money on Miners" are not yet in the Education Vault.)

There are seven stages of development:

1) Early exploration

2) Extensive drilling

3) Resource estimate

4) Economic assessment

5) Major financing

6) Construction of mine

7) Commercial production


When it comes to SIZE, the "short answer" is that the MARKET defines the size of each company through its market-cap. Of course that is a classic example of circular reasoning. In fact, the ENTIRE point of investing is to locate MIS-PRICED assets (generally UNDERVALUED ones).

Note that if all companies were "perfectly priced" that NO ONE could ever make any money in markets. It is through IDENTIFYING mis-priced assets (and buying a piece) that we make money.

Thus when we compare the market-caps of different companies we see how the MARKET is valuing those assets. This is why we urge people to be continually COMPARING companies. Attempting to attach a "value" to any particular miner (in isolation) by looking at each component and then attempting to "value" it would be silly. Few (if any) of us have enough expertise to attach rational values to even MOST of the assets held by a typical mining company.

However, by reading-up on different companies and then SEEING the valuation the market gives to these companies, this should allow us to determine which companies look "relatively cheap" and which look relatively expensive - i.e. fully-priced.

Note that what makes investing in commodity-producers in general (and miners in particular) different from most mainstream investing is that in most businesses companies start "producing" whatever they're going to produce from the day they open their doors. Conversely, mining companies have a LONG road of development just to get to the stage where they BEGIN producing.

The beauty of this is that UNDERSTANDING this development process isn't terribly complicated, it just requires doing some homework, and "absorbing" knowledge in the various places where investors interact. And once you have those "tools", you join what is still a TINY minority of the investment public who is capable of investing in these companies on their own.

The irony here is that the "earlier" you are in getting to the sector the more "waiting" you have to do before your buying, selling, and LEARNING pays off. Conversely, the "pay-off" for that long wait is that those who get here FIRST are USUALLY the ones who reap the biggest gains by the time the dust settles.

As a reminder, no matter how "early" we are and no matter how much we "learn", it is still very easy to "snatch defeat from the jaws of victory". The two fastest/easiest roads to self-destruction are via GREED and/or over-confidence. If we remain HUMBLE and CAUTIOUS in our investing, and combine that with diligently doing our "homework" then (believe it or not) investing in these companies can be a lot of fun.

Note that (likely) the ONLY way you're going to "have fun" investing in these companies is by remaining humble and cautious (and well-informed). The REASON is that if we are disciplined in sticking to our plan, then we MINIMIZE our risks/losses when the market is heading LOWER (because we do not get "over-extended"), while giving ourselves the best opportunity for success when the market turns HIGHER.

Ultimately the "equation" is a simple one: the more closely you "follow the rules" the better you will sleep at night. This is because nothing is more conducive to a good night's sleep for an investor than to UNDERSTAND what you are investing in, and to AVOID excessive risks/leverage.

I thought the Second Quarter results from Pretivm might be of interest to some readers who are considering this stock.



Pretivm Reports Second Quarter 2011 Results
11 Aug 2011 - ACQUIREMEDIA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Pretium Resources Inc. (TSX:PVG) ("Pretivm") is pleased to report the following highlights from the second quarter of 2011 and updates for its Brucejack and Snowfield projects in northern British Columbia.

Second Quarter 2011 Highlights:

-- Positive Preliminary Economic Assessment (PEA) on the Brucejack high-
grade resource;
-- Increased drill program to include over 70,000 meters, and completed
approximately 34,098 meters in 92 holes at July 31;
-- Joint engineering study underway with Seabridge Gold Inc. examining the
economics of combining Pretivm's Snowfield Project and Seabridge's KSM
Project as a single operation; and
-- Working capital of $35.3 million at the end of the quarter, with an
additional $15,081,500 of flow-through funds raised subsequent to the
end of the quarter.


Brucejack Project

In early June, we reported the results of a 43-101-compliant PEA examining the economics of an underground mining operation at Brucejack using the higher-grade gold and silver resources defined to date (see news release dated June 2, 2011). The PEA contemplates an average processing rate of 1,500 tonnes/day over a 16 year mine life, an estimated capital cost, including contingencies, of US$281.7 million, and average annual production for the first ten years of 173,200 ounces of gold and 1.12 million ounces of silver. The Base Case estimated pre-tax Net Present Value (5% discount) is US$662 million, with an internal rate of return of 27.1%, using US$1,100/oz gold and $21/oz silver. Using spot metals prices at the time of completion of the PEA of $1,536.30/oz gold and US$37.89/oz silver, the estimated pre-tax Net Present Value (5% discount) is US$1.416 billion with an internal rate of return of 48.3%.

A drill program of approximately 70,000 meters commenced in May, with one of the first holes drilled encountering the highest-grading gold intersection to date on the property. Hole SU-115, drilled in the Valley of the Kings Zone, intercepted 0.6 meters with uncut grades of 18,755 grams of gold and 9,312 grams of silver per tonne (see news release dated June 8, 2011).

Subsequent drilling has confirmed the continuity of high-grade gold mineralization in the Valley of the Kings Zone, and drilling has continued to intersect visible gold (see news releases dated July 7, 2011, July 27, 2011 and August 11, 2011). Drilling at both the Bridge and Gossan Hill zones has encountered high-grade gold as well as significant values over broad widths. Drilling indicates that Gossan Hill has the potential to host several high-grade structures associated with broader envelopes of bulk tonnage mineralization.

At the end of the quarter, a total of 51 drill holes had been completed or were in progress at Brucejack comprising approximately 18,564 meters of drilling, with approximately 34,098 meters in 92 holes completed at July 31.

Snowfield Project

In early May, we announced agreements with Seabridge Gold Inc. ("Seabridge") to cooperate in advancing our Brucejack and Snowfield Projects and Seabridge's KSM Project, which together represent the largest undeveloped gold resource in North America. Of note, we have agreed with Seabridge to complete an engineering study examining the economics of combining our Snowfield Project and Seabridge's KSM Project as a single operation. This study is expected to be completed in the fourth quarter of this year.

Other Developments

Silver Standard Resources Inc. ("Silver Standard") completed a secondary offering (the "Secondary Offering") of 11,500,000 units at a price of $10.00 per unit on April 8th. Each unit consisted of one of our common shares owned by Silver Standard and one-half of one common share purchase warrant of Pretivm, with each whole warrant exercisable for a period of one year to purchase one of our common shares owned by Silver Standard at a price of $12.50. The warrants expire at 4:00 p.m. (Vancouver time) on April 7, 2012. We did not receive any of the proceeds from the Secondary Offering and will not receive any of the proceeds from the exercise of the warrants.

At the end of the quarter, we announced a private placement of 1,390,000 flow-through common shares at a price of $10.85 per share for aggregate gross proceeds of $15,081,500. The private placement closed on July 15, 2011.

Pretivm's working capital as at June 30, 2011 was $35,296,258 and with the $15,081,500 raised subsequent to the end of the quarter there is sufficient working capital to fund our planned exploration programs and administrative overheads through 2012.

Pretivm's unaudited consolidated financial statements and Management Discussion and Analysis for the three and six months ended June 30, 2011 will be available on SEDAR.

About Pretivm

Pretivm is creating value through gold at its advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack and the open pit opportunities at both Brucejack and Snowfield.

(SEDAR filings: Pretium Resources Inc.)

Forward Looking Statement

This Press Release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, information with respect to our plans, costs and timing for future exploration (including updated resource estimates) and development activities, results of future exploration, timing and receipt of approvals, consents and permits under applicable legislation, production and developments in our operations in future periods and adequacy of financial resources. Wherever possible, words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify forward-looking information.

Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm's final short-form prospectus dated April 4, 2011 filed on SEDAR at www.sedar.com. Forward-looking information is based on the expectations and opinions of Pretivm's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.

The TSX has neither approved nor disapproved of the information contained herein.

FOR FURTHER INFORMATION PLEASE CONTACT:
Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
(604) 566-8782

Pretium Resources Inc.
Michelle Romero
Investor Relations Director
(604) 566-8782
invest@pretivm.com
www.pretivm.com

Source: Pretium Resources Inc.

While capital cost estimates tend to be "optimistic", the economics of the Brucejack Project look very good - and justify the current share price by themselves in my opinion.

The possibility of a further (lucrative) joint venture with Seabridge Gold with their Snowfield Project is just icing on the cake.

Jeff amd Brian,

I wonder if I am misreading something here.

I took the folloiwng from the PR and noted the numbers which appear VERY large if in fact it is g/t. I understand the interval is 0.5 and 1.5 meters, but does this not appear rather high?

The bonanza-grade interval in hole SU-260 noted above was intersected at a depth of 68.4 meters down-hole, demonstrating the proximity of high-grade, visible gold to surface. Hole SU-260 was drilled 25 meters east of hole SU-115, which also intercepted near-surface high-grade gold with an interval of 0.5 meters with uncut grades of 18,755 grams of gold and 9,312 grams of silver per tonne at a down-hole depth of approximately 60 meters (see news release dated June 8, 2011).

The high-grade interval from hole SU-249 noted above is located approximately 100 meters above the high-grade interval from hole SU-12, drilled in 2009, with uncut grades of 16,948 grams of gold and 8,696 grams of silver per tonne over 1.5 meters.

The high-grade interval from hole SU-239 noted above is located on section with high-grade intervals from holes SU-135 and SU-150. Hole SU-135 intersected 0.5 meters with an uncut grade of 1,070 grams of gold, and SU-150 intersected two 0.5 meter intervals with uncut grades of 6,670 grams of gold and 1,640 grams of gold per tonne (see news releases dated July 27, 2011 and August 11, 2011).

www.marketwire.com/press-release/pretium...-tsx-pvg-1578351.htm

October 27, 2011 05:00 ET
Pretium Resources Inc.: Brucejack's Valley of the Kings Drilling Intersects 17,750 Grams Per Tonne Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2011) - Pretium Resources Inc. (TSX:PVG) ("Pretivm") is pleased to report further assay results from its Brucejack Project in northern British Columbia which continue to demonstrate the continuity of high-grade gold mineralization in the Valley of the Kings Zone. Twelve intersections grade over 100 grams per tonne gold, including an intercept from hole SU-260 grading 17,750 grams per tonne gold over 0.5 meters, the second-highest grading gold intersection to date on the property (see Table 1 for the most recent 28 holes).

Selected highlights include:

Hole SU-260 intersected 0.5 meters with uncut grades of 17,750 grams of gold and 7,780 grams of silver per tonne (1.6 feet averaging 517.7 ounces gold and 226.9 ounces of silver per ton);
Hole SU-249 intersected 0.5 meters with uncut grades of 3,880 grams of gold and 1,745 grams of silver per tonne (1.6 feet averaging 113.2 ounces gold and 50.9 ounces silver per ton);
Hole SU-239 intersected 1.0 meter with uncut grades of 3,460 grams of gold and 1,515 grams of silver per tonne (3.3 feet averaging 100.9 ounces gold and 44.2 ounces silver per ton).

The bonanza-grade interval in hole SU-260 noted above was intersected at a depth of 68.4 meters down-hole, demonstrating the proximity of high-grade, visible gold to surface. Hole SU-260 was drilled 25 meters east of hole SU-115, which also intercepted near-surface high-grade gold with an interval of 0.5 meters with uncut grades of 18,755 grams of gold and 9,312 grams of silver per tonne at a down-hole depth of approximately 60 meters (see news release dated June 8, 2011).

The high-grade interval from hole SU-249 noted above is located approximately 100 meters above the high-grade interval from hole SU-12, drilled in 2009, with uncut grades of 16,948 grams of gold and 8,696 grams of silver per tonne over 1.5 meters.

The high-grade interval from hole SU-239 noted above is located on section with high-grade intervals from holes SU-135 and SU-150. Hole SU-135 intersected 0.5 meters with an uncut grade of 1,070 grams of gold, and SU-150 intersected two 0.5 meter intervals with uncut grades of 6,670 grams of gold and 1,640 grams of gold per tonne (see news releases dated July 27, 2011 and August 11, 2011).

Also of note from the results is hole SU-237, which intersected 3.0 meters grading 377 grams per tonne gold and 248 grams per tonne silver, located on the same section as SU-195 and SU-230.

Assay results for 26 holes from the 2011 drill program are outstanding, of which 18 are for the Valley of the Kings Zone. Pretivm will continue to report results as they are received, and will update the mineral resource estimate for Brucejack this quarter.

Table 1: Selected Brucejack Project Drill Results, October 2011 (SU-231 to SU-260)(1,4,5)
Hole
No. Collar
Coords. Dip/
Azimuth From
(meters) To
(meters) Interval
(meters) Gold
(g/t) Silver
(g/t) Capping(2)
VALLEY OF THE KINGS ZONE
SU-231 6257943N
426282E -58/360 320.88 351.5 30.62 1.74 4.0
incl. 336.0 337.5 1.5 21.4 8.1
SU-232 6258090N
426311E -50/180 158.0 177.5 19.5 1.13 4.7
230.0 237.5 7.5 5.24 6.1
incl. 230.0 231.5 1.5 15.9 18.5
312.76 336.0 23.24 6.09 5.6
incl. 328.5 336.0 7.5 16.2 9.7
385.5 387 1.5 48.9 31.2
SU-234 6258125N
426501E -57/180 192.0 207.0 15.0 7.87 9.3
192.0 193.5 1.5 66.7 39.4
243.5 269.0 25.5 1.03 3.9
313.5 377.0 63.5 1.17 4.1
SU-235 6258028N
426430E -50/180 29.3 53.5 24.2 1.96 9.1
incl. 94.5 108.85 14.35 3.52 13.5
incl. 162.46 164.0 1.54 12.3 783.0
SU-236 6258252N
426552E -50/180 207.2 235.5 28.3 0.85 5.1
412.5 434.0 21.5 8.61 31.6 2 Au samples cut
incl. 415.18 417.22 2.04 195.8 146.0 uncut
incl. 416.55 417.22 0.67 493.0 338.0 uncut
SU-237 6257880N
426642E -59/360 144.52 147.52 3.0 87.15 248.4 2 Au samples cut
or 144.52 147.52 3.0 377.2 248.4 uncut
incl. 144.52 145.52 1.0 679.0 498.0 uncut
280.0 290.0 10.0 2.60 47.6
incl. 288.0 288.5 0.5 26.9 72.4
SU-238 6258252N
426452E -50/180 172.0 181.0 9.0 8.97 62.9
incl. 172.0 173.5 1.5 43.5 119.0
279.42 279.92 0.5 50.7 39.0
446.0 452.0 6.0 7.69 25.0
SU-239 6258090N
426311E -60/180 61.5 63.0 1.5 165.0 78.3 uncut
289.54 290.54 1.0 190.5 49.5 uncut
310.84 325.5 14.66 22.72 112.6 1 Au sample cut
incl. 310.84 311.84 1.0 3,460.0 1515.0 uncut
incl. 324.0 325.5 1.5 129.5 75.3 uncut
SU-241 6258125N
426501E -65/180 225.82 235.5 9.68 18.53 11.1 1 Au sample cut
incl. 225.82 226.82 1.0 133.5 53.8 uncut
SU-242 6257880N
426642E -45/360 123.5 133.0 9.5 1.44 4.1
SU-243 6258048N
426430E -50/180 35.5 78.79 43.29 3.53 16.9
incl. 37.0 38.5 1.5 78.0 66.2
175.0 179.5 4.5 0.96 135.1
SU-244 6258090N
426311E -65/180 163.5 165.0 1.5 20.70 8.8
200.0 203.75 3.75 6.46 8.3
248.0 254.0 6.0 33.56 35.5 1 Au sample cut
incl. 251.0 252.5 1.5 162.5 126.0 uncut
322.5 324.0 1.5 37.5 18.5
SU-246 6257796N
426552E -53/360 274.61 313.5 38.89 0.80 3.8
355.5 384.0 28.5 1.99 6.5
incl. 357.0 358.5 1.5 22.5 27.8
SU-247 6257880N
426691E -50/360 138.5 141.5 3.0 10.49 12.8
280.61 281.33 0.72 32.8 51.1
SU-248 6258068N
426430E -50/180 110.0 118.32 8.32 1.57 40.7
230.01 249.5 19.49 1.69 9.2
incl. 230.01 230.51 0.5 28.0 51.0
SU-249 6258051N
426507E -57/180 115.59 117.5 1.91 37.29 460.0 1 Au sample cut
incl. 115.59 116.09 0.5 3,880.0 1,745.0 uncut
220.0 304.0 84.0 1.33 7.9
SU-250 6257840N
426347E -50/360 335.0 336.5 1.5 19.15 11.9
367.0 368.5 1.5 50.0 40.0
383.59 484.5 100.91 0.81 5.0
SU-252(3) 6257706N
426641E -55/360 154.86 155.86 1.0 15.95 11.5
191.86 199 7.14 4.99 360.9
incl. 197.5 199.0 1.5 18.6 1,230.0
372.5 596.49 223.99 0.85 5.1
SU-253 6257880N
426691E -58/360 178.3 184.5 6.2 5.27 9.0
319.5 325.5 6.0 7.49 4.0
SU-254(3) 6258051N
426507E -55/150 203.0 224.0 21.0 3.05 8.7
incl. 203.0 204.5 1.5 22.1 26.7
264.0 348.99 84.99 1.44 4.1
incl. 274.72 275.72 1.0 35.6 57.5
SU-255 256.0 271.0 15.0 0.94 2.7
343.5 363.5 20.0 1.09 4.2

SU-256 6258088N
426430E -50/180 122.5 148.0 25.5 1.6 8.7
SU-257 6257806N
426454E -50/360 179.0 233.0 54.0 1.16 5.5
389.84 390.34 0.5 58.3 38.5
SU-259 6257840N
426347E -58/360 202.5 215.5 13.0 11.35 27.5
incl. 204.0 205.5 1.5 75.7 60.0
398.5 433.0 34.5 1.96 5.0
incl. 431.5 433.0 1.5 17.1 19.0
507.0 508.5 1.5 264.0 274.0
526.5 528.0 1.5 40.2 17.8
SU-260 6257998N
426481E -45/180 63.5 66.34 2.84 71.59 391.4 1 Au sample cut
incl. 63.5 65.0 1.5 92.0 38.6 uncut
incl. 65.84 66.34 0.5 17,750.0 7,780.0 uncut
112.5 144.0 31.5 1.12 9.4
WEST ZONE
SU-233 6258926N
426520E -50/225 250.0 273.35 23.35 6.83 23.0
incl. 254.42 255.42 1.0 107.0 71.8
327.77 357.5 29.73 1.45 5.9
SU-240 6258784N
426519E -50/225 39.6 43.33 3.73 2.15 614.0
72.0 95.5 23.5 0.89 73.9
174.0 287.0 113.0 1.29 12.7
SU-245 6258997N
426449E -50/225 141.0 202.5 61.5 1.03 8.0
incl. 190.5 192.0 1.5 14.6 12.3
367.5 408.42 40.92 1.29 3.0
incl. 407.0 408.42 1.42 12.6 20.0
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 130 g/t were cut to 130 g/t and all silver assays over 2,100 g/t were cut to 2,100 g/t.
(3) Hole ended in mineralization.
(4) Holes SU-251 and SU-258 were metallurgical holes and not sampled.
(5) All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,000 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 10 samples was blank, one in 20 was a standard sample, and differing one in 20 samples was a field duplicate one-quarter split core assayed at ALS Chemex in Vancouver, B.C.

Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc., is the Qualified Person (QP) responsible for the Brucejack Project exploration program.

About Pretivm

Pretivm is creating value through gold at its advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack and the open pit opportunities at both Brucejack and Snowfield.

(SEDAR filings: Pretium Resources Inc.)

Debsyl, such numbers are possible - although for only VERY short intervals (i.e. no more than meter).

Indeed, what got me to purchase my first shares of Colossus (before the Company had done any significant drilling on their own) was when I saw a blog post on Stockhouse reporting some "historical" drill results from Serra Pelada, back when mining giant Vale operated the property.

Over an interval of 1/3 meter, they reported over 100,000 g/t gold, well over 10,000 g/t palladium, AND well over 1,000 g/t of platinum.

The HUGE difference here is that it will likely take Pretium several $BILLION to go into production, and they are likely at least 4-5 years away. Colossus is fully-financed, and going into production next year (at least on a limited scale).

Conversely, if/when Pretium's massive project goes into production, it will almost certainly be a HUGE mine, likely a minimum of 2,000 tpd's.

So I hold a few Pretium shares myself, since it's a different type of company, a different region, and so it adds some more diversity to my own "basket".

Thanks, Jeff, consideing that Pretium SP is almost $10.00 and Colossus Minerals is just over $7.00 and that Colossus is almost at production thatn Colossus is a "STEAL".

Pretium is one of the few companies (on my watch list) that appears to be holding its own even with the downturn in gold price. The following is theri most recent Press Release.


11/28/2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2011) - Pretium Resources Inc. ("Pretivm") (TSX:PVG) is pleased to report an updated mineral resource estimate for its wholly-owned Brucejack Project located in northern British Columbia. High-grade and bulk-tonnage gold resources have increased significantly as a result of the update.

High-Grade (5.0 grams of gold-equivalent per tonne cut-off) Grade & Tonnage Estimate

-- 5.06 million ounces of gold in the Measured and Indicated resource
categories (9.3 million tonnes grading 16.92 grams of gold per tonne),
for a 460% percent increase; and
-- 3.33 million ounces of gold in the Inferred resource category (4.0
million tonnes grading 25.67 grams of gold per tonne).


Bulk-Tonnage (1.25 grams of gold-equivalent per tonne cut-off) Grade & Tonnage Estimate

-- 8.46 million ounces of gold in the Measured and Indicated resource
categories (74.1 million tonnes grading 3.55 grams of gold per tonne),
for a 164% percent increase; and
-- 6.76 million ounces of gold in the Inferred resource category (78.5
million tonnes grading 2.68 grams of gold per tonne).


Bulk-Tonnage Mineral Resource Estimate (0.30 grams of gold-equivalent per tonne cut-off)

-- 12.89 million ounces of gold in the Measured and Indicated resource
categories (305.3 million tonnes grading 1.31 grams of gold per tonne),
for a 57.5% percent increase; and
-- 18.20 million ounces of gold in the Inferred resource category (813.7
million tonnes grading 0.70 grams of gold per tonne).


Brucejack High-Grade Project

-- An update to the Preliminary Economic Assessment (PEA) (see news release
dated June 2, 2011) using the updated Brucejack high-grade gold and
silver resource is now underway and is planned to be completed in the
first quarter of 2012;
-- A Feasibility Study for the Brucejack high-grade development opportunity
will commence shortly;
-- Additionally, a PEA on an integrated high-grade underground and bulk
tonnage project is planned to commence later this quarter.


Mineral Resource Modeling and Estimation

The Brucejack Project comprises seven modeled deposits. The resource models are based on 1,190 diamond drill holes totalling 219,394 metres, which include 452 historical surface drill holes, 442 historical underground drill holes exclusively in the West Zone, and 296 surface drill holes completed since 2009. Mineralization in the SG, Gossan Hill, Galena Hill and Bridge Zones was modelled using Ordinary Kriging, a block size of 25 x 25 x10 metres, and used a top cut for gold between 10 g/t and 30 g/t. The mineral resource estimates for Shore Zone, West Zone and Valley of the Kings Zone used Median Indicator Kriging, and a block size of 25 x 25 x 10 metres. Median Indicator Kriging is a non-linear form of estimation used when the mineralization is shown to be hosted in distinct populations. In this case, the low grade population was defined as all composite samples with Au values below 4.0 g/t gold, and the high grade population was defined as all composite samples with Au values above 4.0 g/t gold. Median Indicator Kriging restricts the contribution of the various sample populations in any given block. As a further restriction, composites in the Valley of the Kings Zone were capped at 900 g/t gold and in the West Zone and Shore Zone were capped at 220 g/t gold prior to grade estimation.

Table 1: Brucejack Project 5.0 g/t Grade & Tonnage Estimate - November
2011(1)(4)(5)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne within the
0.30 grams of gold-equivalent/tonne cut-off optimized pit shell)
----------------------------------------------------------------------------
Contained(3)
----------------------------
Tonnes Gold Silver Gold Silver
Category (millions) (g/t) (g/t) (million oz) (million oz)
----------------------------------------------------------
Measured 2.4 7.93 236.1 0.60 18.0
----------------------------------------------------------------------------
Indicated 6.9 19.99 60.9 4.46 13.6
----------------------------------------------------------------------------
M+I 9.3 16.92 105.6 5.06 31.6
----------------------------------------------------------------------------
Inferred(2) 4.0 25.67 20.6 3.33 2.7
----------------------------------------------------------------------------
(1) Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimate of mineral resources may be
materially affected by environmental, permitting, legal, marketing, or other
relevant issues. The mineral resources in this news release were estimated
using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM
Standards on Mineral Resources and Reserves, Definitions and Guidelines
prepared by the CIM Standing Committee on Reserve Definitions and adopted by
CIM Council.
(2) The quantity and grade of reported Inferred resources in this estimation
are uncertain in nature and there has been insufficient exploration to
define these inferred resources as an Indicated or Measured mineral resource
and it is uncertain if further exploration will result in upgrading them to
an Indicated or Measured mineral resource category.
(3) Contained metal may differ due to rounding.
(4) The Mineral Resource Estimate stated in Table 3 is defined using 25 x 25
x 10 meter blocks and contained within a Whittle optimized pit shell that
incorporates project metal recoveries, estimated operating costs and metals
price assumptions. Parameters used in the estimate include metals prices
(and respective recoveries) of US$1,200/oz. gold (71%) and US$22.00/oz.
silver (70%). The pit optimization utilized the following cost parameters:
Mining US$2.00/tonne, Processing US$7.00/tonne and G&A US$1.25/tonne along
with pit slopes of 45 degrees.
(5) The 5.0 g/t Grade & Tonnage Estimate is a subset of the bulk-tonnage
Mineral Resource Estimate in Table 3 and as such is included within the
bulk-tonnage Mineral Resource Estimate in Table 3 and is not in addition to
the bulk-tonnage Mineral Resource Estimate.


Table 2: Brucejack Project 1.25 g/t Grade & Tonnage Estimate - November
2011(1)(4)(5)
(Based on a cut-off grade of 1.25 grams of gold-equivalent/tonne within the
0.30 grams of gold-equivalent/tonne cut-off optimized pit shell)
----------------------------------------------------------------------------
Contained(3)
----------------------------
Tonnes Gold Silver Gold Silver
Category (millions) (g/t) (g/t) (million oz) (million oz)
----------------------------------------------------------------------------
Measured 9.3 3.08 102.2 0.92 30.6
----------------------------------------------------------------------------
Indicated 64.8 3.62 23.7 7.53 49.4
----------------------------------------------------------------------------
M+I 74.1 3.55 33.6 8.46 80.0
----------------------------------------------------------------------------
Inferred(2) 78.5 2.68 16.3 6.76 41.2
----------------------------------------------------------------------------
(1), (2), (3) and (4) See footnotes to Table 1.
(5) The 1.25 g/t Grade & Tonnage Estimate is a subset of the bulk-tonnage
Mineral Resource Estimate in Table 3, and as such, is included within the
bulk-tonnage Mineral Resource Estimate in Table 3, and is not in addition to
the bulk-tonnage Mineral Resource Estimate.


Table 3: Brucejack Project Bulk-Tonnage Mineral Resource Estimate - November
2011(1)(4)
(Based on a cut-off grade of 0.30 grams of gold-equivalent/tonne)
----------------------------------------------------------------------------
Contained(3)
----------------------------
Tonnes Gold Silver Gold Silver
Category (millions) (g/t) ( g/t) (million oz) (million oz)
----------------------------------------------------------------------------
Measured 12.2 2.50 81.6 0.99 32.1
----------------------------------------------------------------------------
Indicated 293.0 1.26 10.5 11.91 99.3
----------------------------------------------------------------------------
M+I 305.3 1.31 13.4 12.89 131.5
----------------------------------------------------------------------------
Inferred(2) 813.7 0.70 7.7 18.20 201.2
----------------------------------------------------------------------------
(1), (2), (3) and (4) See footnotes to Table 1.


Underground Sensitivity to the Resource Estimate (5.0 grams of gold-equivalent per tonne cut-off)

A sensitivity analysis of the Brucejack underground mining potential was also completed simultaneously with the bulk tonnage Mineral Resource Estimate. For mine planning purposes, the grades in the sensitivity analysis were estimated for the Valley of the Kings and West Zone using 5 x 5 x 5 metre blocks and the same grade estimation parameters as the bulk tonnage Mineral Resource Estimation. The underground sensitivity analysis is not restricted to the Whittle pit shell. The inclusion of the underground sensitivity analysis in this news release is not meant to supersede or replace the results of the bulk-tonnage Mineral Resource Estimate.

Table 4: Brucejack Project Underground Sensitivity to the Resource Estimate
- November 2011 (1)(4)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne)
----------------------------------------------------------------------------
Contained(3)
----------------------------
Tonnes Gold Silver Gold Silver
Category (millions) (g/t) ( g/t) (million oz) (million oz)
----------------------------------------------------------------------------
Measured 2.4 7.29 241.2 0.57 18.9
----------------------------------------------------------------------------
Indicated 6.1 24.13 53.3 4.76 10.5
----------------------------------------------------------------------------
M+I 8.6 19.35 106.7 5.33 29.4
----------------------------------------------------------------------------
Inferred(2) 4.0 25.73 22.0 3.29 2.8
----------------------------------------------------------------------------
(1), (2) and (3) See footnotes to Table 1.
(4) The underground sensitivity analysis is a sensitivity analysis of the
Brucejack underground potential and is not meant to supersede or replace the
results of the bulk-tonnage Mineral Resource Estimate. These sensitivity
results are not reported within a constraining Whittle pit shell.


"Since acquiring Brucejack 11 months ago, we are very pleased with the substantial progress we have made in outlining the potential for a high-grade underground project," said Robert Quartermain, Pretivm's President and Chief Executive Officer.

The above tables summarize the sensitivities and bulk-tonnage Brucejack Project Mineral Resource Estimate totals. The Mineral Resource Estimate contained in this news release were prepared by Eugene Puritch, P.Eng., F.H. Brown, M.Sc. (Eng.), CPG Pr.Sci.Nat., of P&E Mining Consultants Inc. ("P&E") of Brampton, Ontario, and Caroline Vallat, P.Geo., of GeoSpark Consulting, all of whom are independent qualified persons, as defined by National Instrument 43-101. Mr. Puritch, Mr. Brown and Ms. Vallat have reviewed and approved the contents of this news release.

About Pretivm

Pretivm is creating value through gold at its advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack and the bulk tonnage opportunities at both Brucejack and Snowfield.