(Pretium has a US$1.8B market cap and the borrow is in the low single digits. I have written about this stock previously.)
Back in 2013, Strathcona resigned from the Brucejack gold project due to disagreements over what Pretium was telling investors. Graham Farquharson (Strathcona’s head honcho) was being a gentleman and allowed Pretium to disclose on their own terms (with their own PR spin). Unfortunately, Pretium instead tried to discredit Strathcona.
So, Farquharson did an interview with The Northern Miner, a trade publication. You can read the interview on the website (no paywall):
Yes, and we told them that it has an excellent chance of being a small-tonnage, high-grade mine in the Cleopatra vein, and a couple of other similar occurrences that they found in the last drilling program. If they lined all those up, there’s an excellent chance that they could have a small-tonnage, high-grade gold mine. But they will not have a mine producing 425,000 oz. a year for the next 20 years, as they have been advertising so far.
Here’s the crazy part. This is 2017 and Pretium is almost finished building that mine.