Pretium Resources (TSE:PVG) lands major execs from Silver Standard (SSRI)

Talk about a big transfer of institutional knowledge. Last week, Silver Standard Resources, Inc. (NASDAQ:SSRI) announced it was losing two senior execs to Pretium Resources, Inc. (TSE:PVG).

Talk about a big transfer of institutional knowledge. Last week, Silver Standard Resources, Inc. (NASDAQ:SSRI) announced it was losing two senior execs in Kenneth McNaughton, Senior Vice President Exploration and Joseph Ovsenek, Senior Vice President Corporate Development. McNaughton and Ovsenek will “pursue other interests in mineral exploration with Pretium Resources, Inc.” (TSE:PVG) as of February 15, 2011.

Pretium also appointed Kenneth J. Konkin Project Manager of its flagship Snowfield and Brucejack Projects. “Mr. Konkin managed Silver Standard’s exploration programs at the Snowfield and Brucejack Projects since exploration started in 2006, and was instrumental in their success,” Pretium said in a statement. “He started working with Silver Standard in 1993, and has 30 years of exploration experience in the region.”

All told, Pretium’s projects contain combined measured and indicated resources totaling 25.8 million ounces of gold, 2,561 million pounds of copper and 127.1 million ounces of silver; inferred resources of 15.9 million ounces of gold, 1,307 million pounds of copper and 113.1 million ounces of silver, as well as molybdenum and rhenium mineralization.

I was surprised there wasn’t more of a pop in Pretium Resources’ shares, but I suspect it’s due to the fact that Pretium’s still in its start-up stages. The fact that the company’s been able to recruit so much talent, though, bodes well in an industry that relies on great management and hands-on field experience.

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