PRETIVM INITIATES INQUIRY INTO TRADING OF ITS SHARES
Today I saw this press release from Pretium Resources
VANCOUVER, British Columbia, Jan. 10, 2019 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports that it has retained independent legal counsel to initiate an investigation of unusual trading activity in its shares.
Pretivm is a low-cost intermediate gold producer with the high-grade underground Brucejack Mine in northern British Columbia
For further information contact:
Joseph Ovsenek Troy Shultz
President & CEO Manager, Investor Relations & Corporate Communications
Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(SEDAR filings: Pretium Resources Inc.)
So, what is really going on?
This is not rocket science. Insiders (officers and directors) have been selling shares in PVG from May 17, 2018 through December 24, 2018.
8 insiders, all sellers in the open market have reported to authorities and via my subscription to INKResearch.com, I see it all.
Perhaps PVG does not need an attorney to investigate trading activity, just ask their own officers and directors why ‘they’ are selling.
Total shares valued at C$9,178,605 have been sold from May 17 – Dec 24, 2018.
Ovsenek J.J. – President & CEO
Smith, D. – Director
Paspalas, G.N. – Lead Director
McNaughton, K.C. – VP & Chief Exploration Officer
Vip, T. – Executive, VP & CFO
Romero, M.A. – Executive VP and Corporate Affairs & Sustainability
Quartermain, R.A. – Executive Chairman
Board, W. – VP, Geology & Chief Geologist
From my personal experience, when 1 or 2 insiders are selling, I don’t get too alarmed. But, when you have 8 insiders selling as in this situation, well, to me, something is going on (news) that has not yet been reported by the company. (Only time will tell)
I have never personally owned shares in PVG and do not have a short position, but I keep my eyes are hundreds of companies and the insider activity. I saw this selling going on a couple of months ago and thought about an article at that time. But with today’s press release I just had to do something.
Interesting to me that the press release above, stated for additional information contact,
Joseph Ovsenek, President & CEO.
Mr. Ovsenek is one of the insiders selling a total of 160,175 shares.
I have always enjoyed following the insider trading activity on all of my personal positions and other high profile companies, like PVG.
Many times, insider buying can alert us to great opportunities and in this situation, insider selling at a minimum, must be a big caution flag, if not, an out right sell signal.
I am sure this article will get a lot of views and responses, but folks, it is what it is and I am only the messenger.
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