Robert Quartermain, President and CEO of Pretivm Resources displaying a remarkable sample with high grade visible gold at the Vancouver Resource Investment Conference
Working in the mining friendly jurisdiction of British Colombia, Canada, Pretivm Resources is working diligently to continue to develop and explore their site at the Brucejack project for high grade gold.
High grade gold can be an indicator of an excellent find in the mining industry. Robert Quartermain, President and CEO of Pretivm Resources believes that he might have just found one of those rare high grade deposits in British Colombia. He took some time to discuss his company and their Brucejack Project at the recently held Vancouver Resource Conference.
Robert Quartermain has extensive experience and an excellent background in the mining industry and is enthusiastic about what he has seen at the Brucejack Project. He said, “I am a geologist. I’ve been working in the business for 36 years and it continues to be the adventure it was when I worked in the northwest of Canada.” Part of that adventure is due to the amazingly positive results that he has seen at the Brucejack Project. He said, “We have some of the highest grade gold I have ever seen in my career.” Mr. Quartermain heard about the quality of the find after he had already retired from his initial career. He said, “After retiring from Silver Standard, and after seeing just six core samples, I wanted to get involved.” Now, as President and CEO, he has seen additional developments. He said, “With our multi-kilo hits we now have over 80 [high grade gold core samples.] In areas we have nice shoulders on the high grade which could be incorporated in a mine plan now underway.”
When Quartermain saw the results, he got involved right away. While the initial market cap started at $500 million dollars, it increased to $1.2 billion dollars but with the recent gold downturn is now $800 million. Quartermain said, “We started drilling at Brucejack in 2011. We have very consistent high grade intersections.” The results have been so positive that Quartermain and his team believe that the Brucejack Project needs to be moved from exploration to development. He said, “This kind of high grade resource needs to be moved forward.” The next step for Pretivm Resources will be to take action toward feasibility. Quartermain said, “We are completing a feasibility study and we are also taking an underground bulk study.”
Ultimately, the goal for Pretivm Resources is to move the Brucejack Project from exploration into production of high grade gold products. Quartermain said, “We want to bring this into production.” Given the quick growth of the company, that seems to be a distinct possibility. Quartermain said of Pretivm Resources quick growth, “A few years ago, we were a company of one. Now we have over 200 employees.” What has caused their quick growth? Quartermain believes it is directly related to the quality of the resource they are working on. He said, “That is because of the high grade gold.”
Contributing to their quick development is a well experienced management team that includes Quartermain as President and CEO as well as other experts. Quartermain said, “A fellow director, Joseph J. Ovsenek, is a lawyer and engineer by training.” Additional team members include Kenneth C. McNaughton who worked with Quartermain in the past. Quartermain said of McNaughton, “We have worked on a lot of projects together.” Ian Chang, the Vice President of Project Development came to Pretivm Resources from an engineering background. Another key member of the Pretivm team is Kevin Thorpe. Quartermain said, “Kevin is experienced in both exploration and development.” Finally, Quartermain brought in Max Holtby Vice President & Chief Development Officer, with whom he worked for 27 years on permitting. In all, Quartermain believes that Pretivm Resources will benefit from a team that is heavily experienced. He said, “It is a well-seasoned management team. All have worked for operating teams. All of them know what we have to do.”
To date, Pretivm Resources has kept people on site working at developing the Brucejack Project all year long. Quartermain said, “With our current plans there are approximately seventy people on site.” Currently, the company is working on finalizing road access to the site and permitting. Quartermain said, “We are finishing our road access and have been working on permitting. We have the feasibility study ongoing. Over the next two years, there are a number of permits we need for the project. We will be making our environmental assessment.” Future plans are already defined. Quartermain said, “We will continue with underground development in 2014. We are hoping to get the permits in 2014. We will continue to move toward production. In a perfect world, we’d like to be gearing up for production in 2015-2016.”
To date, Pretivm Resources has come up with a preliminary cost assessment for their project. Quartermain said, “We completed a PEA and it showed a Capex of about $430 million dollars. We have increased our plant size and removed the leach plant so the costs will be higher and outlined in the feasibility study.” All of their plans have focus on the concern for shareholders dilution. Quartermain said, “We know our shareholders don’t like to be diluted. We will continue to manage dilution. For an operation we can do that through debt and equity. We will focus on that.”
There are many reasons that Quartermain believes that investors should take a look at Pretivm Resources for investment. He said, “We are in the right commodity. Central banks are buying gold. We are in the right location with a mining friendly jurisdiction. We have the right people. We have seasoned people who can put together a team.” Ultimately, Quartermain and his team have their own investment to protect. He said, “We are shareholders, too. We own about 4.5% to 5% of the company ourselves. My interests are very aligned with shareholders.”
With a focus on moving the high grade Brucejack Project from exploration to production, Pretivm Resources is in position to be a notable project in the near future.
http://www.pretivm.com/
Pretium Resources Inc.
1600-570 Granville Street
Vancouver, BC V6C 3P1
Phone:604-558-1784
Email: invest@pretivm.com