Viceroy Says It's Shorting Canadian Miner Pretium Resources
- Short seller says company has distorted results at Brucejack
- Report says mine at risk of being taken over by creditors
Photographer: Chris Ratcliffe/Bloomberg
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Pretium Resources Inc. fell 10 percent after Viceroy Research said it’s shorting the stock, arguing the company has artificially inflated the value of its Canadian gold mine, which risks being taken over by creditors in coming months.
The New York-based short seller -- which rose to prominence last year with research into financial irregularities at South African retail giant Steinhoff International Holdings NV -- released a report Thursday saying Vancouver-based Pretium has distorted results from its Brucejack gold mine in the province of British Columbia.