<![CDATA[Silver Standard sells shares of Pretium in secondary offering]]>Here is Pretium’s press release. Silver Standard seems to be in a strong financing position given that the company has around $671M in current assets (versus $333M in total liabilities), a producing mine, and a book value of $837M. Instead of investing this capital in producing assets, the company is selling a mining asset (part of its stake in Pretium) for cash. In my opinion, Silver Standard is not making a mistake.
*Disclosure: I am short Pretium common shares and will be holding onto my position. I don’t follow Silver Standard and have no interest in it.
]]>