I first interviewed Bob Quartermain for the Vancouver Sun in December 2011 when his Pretium Resources IPOed on the Toronto Stock Exchange. At $265 million, it was one of the larger IPOs that year, and allowed the geologist executive to purchase the Brucejack and Snowfield properties from Silver Standard, which he’d run for 25 years.
What drew him to the projects? Quartermain talked during the phone interview about the high-grade veins of gold that had been intersected and how he had never seen anything like it in his decades as a geologist and executive.
I revisited Quartermain recently, this time in his office, and wrote about his high-grade northwestern B.C. gold project in my first mining piece for the Vancouver Sun, where I am a story editor. My day job there will now include a part-time role writing about B.C.’s mining industry — its projects and personalities. I don’t anticipate writing much about stocks I own (because of the Sun’s B.C. focus). If I do, I’ll follow the same policy of full disclosure that I do here at WorldofMining.com.
A vast drilling campaign at Brucejack’s Valley of the Kings in the years since that 2011 IPO has turned those high-grade gold hits into a resource estimate of some 8.7 million ounces (in measured and indicated categories).
But the path to delineating that buried treasure has been a rocky one characterized by choppy junior mining markets, a volatile gold price and a resource estimate controversy that temporarily battered Pretium’s stock.
Through it all, Quartermain has his eyes focused on the prize: developing a high-grade gold mine that will employ an estimated 500 people and feed a growing demand for physical gold in China and other rising Eastern markets.