PVG - Pretium Acquired By Newcrest: A Great Deal For Pretium

• Newcrest announced last month that it would be acquiring Pretium Resources for ~$2.8 billion, or a 29% premium to its 20-day volume-weighted average price.
• At this price tag, Pretium is being valued at ~$718.00/oz on reserves, ~$386/oz on M&I resources, and more than 1.70x Brucejack's net present value.
• When we compare this figure to other major acquisitions in Canada over the past decade, this is a great deal for Pretium shareholders.
• Given the large premium to net asset value paid to acquire Premium combined with the break fee, I see a very low likelihood of another offer, hence why I sold my position into the news.

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