10:47 AM EST - Pretium Resources Inc. : Has entered into an agreement with KSM Mining ULC a wholly-owned subsidiary of Seabridge Gold Inc., to sell its Snowfield property located in northwest British Columbia. Under the terms of the Agreement, Pretivm will receive consideration comprised of the following: $100 million U.S. in cash payable upon closing of the Transaction. A 1.5% net smelter royalty in respect to all production from Snowfield. A $20-million U.S. contingent cash payment payable within six months of the earlier of KSM Mining (or a parent company) completing a bankable feasibility study which includes reserves from Snowfield or the commencement of commercial production from Snowfield or any part of Snowfield. $15 million U.S. of the Deferred Payment represents an advance NSR Royalty payment and shall offset amounts payable under the NSR Royalty. Pretium Resources Inc.
shares T.PVG are trading down $0.19 at $14.41.
