Tuesday, October 29, 2013
The Law Office of Andrew Morganti, JD, LL.M., was retained by a Toronto-based Family Office to lodge an Ontario Securities Act s.138.3 claim against Pretium Resources Inc. The investor is seeking class action status.
The claims alleges that Pretium Resources Inc. and Snowden Mining Industry Consultants Ltd. misrepresented the quality of the ore at its only asset, the Brucejack Mining Project, Valley of Kings and West Zones, as well as the economic feasibility to mining 7% of the total ore because of the associated expenses, ability to strategically mine the high-grade from the low-grade ore without bulk or block mining methods, playing down the materiality of the potential instability zones in the stope clusters and sill pillars. Plaintiff also alleges that Pretium is misrepresenting the life-of-mine whereby it claims 22 years to the public but 16 years to the regulators.
The Firm has retained one of the more prominent mining experts in Toronto to scrutinize Pretium Resources Inc.’s Resource Estimates and associated Reserve Estimates found in the Economic Feasibility Study.
Wong v Pretium Resources Inc, et al., cv-13-491800