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November 30, 2011 Dear Friend, Pretium Resources stole the show as it tripled its Brucejack high grade resources to 8.6 mm oz near a 20 g/t gold grade, which appears to be the richest large deposit found since the 1980 gold price peak reminiscent of the best 19th century finds like the Klondex in Yukon or Comstock lodes. Pretium’s 2nd richest Brucejack zone grades 3 g/t at a 1.25 g/t cutoff to total 15.2 mm oz, or a total of 23.8 mm oz among the two richer gold zones. Pretium’s total global gold resource at low cutoffs depending on low costs and higher metals prices = 74.7 mm oz = 8.6 Brucejack high grade + 31.1 Brucejack bulk tonnage +35 mm oz Snowfields. · Rainy River Resources will complete an updated prefeasibility study incorporating 180 km of new drilling in February 2012, predicts at least a 1.5 mm oz gain to its 6.7 mm oz of gold resources and a $500 mm increase to its NPV estimation via optimizations to recovery, pit slope, infill drilling to convert “waste” to ores and other improvements.· NovaGold described a three-pronged restructuring where NovaGold will become solely a 50% stake in the Donlin Creek gold deposit held jointly with Barrick Gold, the 50% stake in Galore Creek cu-au-ag held jointly with Teck will be sold and the remainder will be spun into NovaCopper including over 100 mmt of Ambler District properties some of which grade 2%-6% copper.
Unfortunately, the November 30th 8:00-8:40 am
Goldcorp presentation and webcast was cancelled owing to a death in
the speaker's family and Klondex cancelled its 1:40 pm webcast
presentation owing to legal considerations of a recent offering.
Minera IRL will speak at 1:40-2:20 rather than 3:00-3:40 pm to fill
the open slot. We apologize for inconvenience.
John C. Tumazos, CFA
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Copyright © 2008 John Tumazos Very Independent Research,
LLC
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