Monday, March 19, 2018

2 big underachievers - Pretium (PVG.t) and Detour (DGC.t)

The feasibility numbers for Pretium predicted a head grade north of 15gm/t. The first ore was hand picked and ended up being around 10.5 gm/t, a wicked large difference and an instant issue.

Next reporting period that head grade fell to 8.2 gm/t, and that is almost HALF the predicted. Every single dollar is the bottom line variety and that is a killer. Production increases and recovered gold decreases ... that ain't exactly what everybody behind this deal had in mind. Welcome to thin width mining.
Detour has been sucking wind as well as reality is far different from the expected. Major issue is one of management.

A worker died last year of "acute cyanide intoxication". Forget the $1.5m criminal fine and increased WCB premiums for many years, if possible, this management is led by an accountant, and having a worker death in Canada gives the APPEARANCE the bottom line is more important than employees. Any way sliced it looks bad vis-a-vis the hand steering this ship.