Topic: How To Invest

Q: Hi Pat: I would be interested in your assessment of Pretium Resources. Best regards.

Article Excerpt

A: Pretium Resources Inc., $12.79, symbol PVG on Toronto (Shares outstanding: 178.7 million; Market cap: $2.3 billion; www.pretivm.com), continues to work toward building a mine for its Brucejack gold project in northwestern B.C. The company’s president and CEO, Robert Quartermain, leads the development. Before founding Brucejack, he built up Silver Standard Resources Inc., symbol SSO on Toronto, over a 25-year period. Mr. Quartermain took it from a junior exploration firm to a producer with a $1.2 billion market cap. He left Silver Standard in 2010 and formed Pretium. In December of that year, the company sold shares to the public at $6 and listed on the Toronto exchange. Last year, Pretium received all major federal and provincial permits required to build a mine for Brucejack. In September 2015, it arranged $540 million U.S. in construction financing with Orion Mine Finance Group and Blackstone Tactical Opportunities. That funding was comprised of a $350 million U.S. credit facility and the $150 million U.S. payment…