Thanks for asking- I am obviously out in the cold as to explaining the stock price.
We have the highest grade undeveloped -yet being developed, gold property on the planet in the safest jurisdiction, in an area which has a history of operating mines- Eskay Creek, Snip, Golden Bear, Scottie Gold and a bunch of others and yet the questions still come up as to the difficulty of mining this resource. The company is now driving to site over their recently completed winter road which will substantially reduce the costs of the project-basically eliminating the need for heavy lift (read-expensive) helicopters to move equipment and materials to site.
In order for the stock to go down there must be sellers who continue to sell at ever decreasing prices.
Nothing but good news comes from the news releases and the management. The company can raise money ($20 million is not a large sum for a this company) and they raised it in a bought deal this week which ensures timely completion of the underground bulk sample- my guess is that this money will be used to accelerate the mine development
In a sense I was disapppointed to hear that they are attempting to mine the sample in a mine average area as opposed to seeking out a bonanza grade area. The explanation given at the CIBC conference was that the consultants want confirmation of the model.
The total time line from discovery to planned production at the Valley of the Kings, including pemitting looks to be about 5 1/2 years. This is half the time that most mining projects historically take in this day and age of government processes and regulation.
Using the company provided comparisons of relative value of this one part of Petium compared to other gold properties it looks like Pretium should sell for a hell of a lot more than the current price.