PVG - Pretium Resources: Why They Sold 30 Million Ounces Of Gold For $3.00/Oz

• Pretium Resources sold its Snowfield Project last week to Seabridge Gold, at a price that was likely perplexing for many investors.
• However, this was an unattractive project for several reasons, and I believe it was the right move to divest the asset to improve the balance sheet.
• Based on the sale, Pretium can participate in Snowfield's upside through a 1.5% NSR if it does ever go into production, but has significantly improved its leverage in the meantime.
• I continue to see Pretium as an interesting turnaround story, and I would view any pullbacks below $11.00 as low-risk buying opportunities.

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