NEW YORK--(EON: Enhanced Online News)--The law firm of Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating potential federal securities claims against Pretium Resources, Inc. (“Pretium” or the “Company”) and certain of its officers and directors in connection with allegations that the Company made materially false and misleading statements regarding probable mineral reserves for its Valley of the Kings Bulk Sample Program, an advanced stage gold exploration project based in British Columbia.
“there are no valid gold mineral resources for the Valley of the Kings Zone, and without mineral resources there can be no mineral reserves, and without mineral reserves there can be no basis for a Feasibility Study.”
On October 9, 2013, the Company disclosed that Strathcona Mineral Services, Ltd., a consulting firm hired by the Company to conduct an independent assessment of the gold reserves in the Valley of the Kings Zone, resigned abruptly from the engagement. On this news, Pretium shares declined $2.07 per share or approximately 30%, to close at $4.70 per share on October 9, 2013.
Then, on October 22, 2013, the Company revealed that Strathcona had resigned after a dispute with the Company over sampling methods, particularly after advising the Company that “there are no valid gold mineral resources for the Valley of the Kings Zone, and without mineral resources there can be no mineral reserves, and without mineral reserves there can be no basis for a Feasibility Study.” Strathcona further advised that “statements included in all recent press releases [by Pretium] about probable mineral reserves and future gold production [from the Valley of the Kings Zone] over a 22-year mine life are erroneous and misleading.” On this news, Pretium shares declined $1.27 per share or over 27%, to close at $3.36 per share on October 22, 2013.
Wolf Haldenstein has represented individual and institutional investors for many years, serving as lead counsel in numerous cases in United States federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.
Please contact us no later than December 24, 2013, if you own Pretium securities and wish to discuss this matter with us, or have any questions concerning your rights and interests:
|Gregory M. Nespole, Esq.|
|Wolf Haldenstein Adler Freeman & Herz LLP|
|270 Madison Avenue|
|New York, New York 10016|