start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)


Pretium (PVG) 4q17: Hello Strathcona

The market is going to make love up the bottom of PVG this morning on the back of this 4q17 production NR, just 70,281 oz gold produced. But the really nasty bit is this:
Grade reconciliation to the reserve model for the period August 1, 2017 to December 31, 2017 was approximately 75% to 80%. 

And did you notice how PVG "forgot" to mention the average head grade in that NR? Well let IKN help because by using the grade, tonnage thoughput and gold production data given we can math it out: It's 8.40445 grams per tonne. And that's a big fat miss.

UPDATE, afternoon: 27% down and counting. Yep, loving right up the bottom.