Pretium Resources Inc.: Brucejack Mine Q3 2018 Production Update
October 09 2018 - 5:00AM
Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”)
is pleased to report third quarter gold production results for the
Brucejack Mine.
Third Quarter 2018 Summary
- 92,641 ounces of gold produced
- 12.4 grams per tonne gold mill feed grade
- 97.4% gold recovery rate
- 240,122 tonnes of ore milled
- 2,610 tonnes per day ore milled
- Over $190 million cash position as of September 30, 2018
“We added $48 million to our cash on hand during
the third quarter, and are focused on sustaining long-term
profitability,” said Pretivm President & CEO Joseph Ovsenek.
“We are on our way to meeting our gold production guidance of
200,000 to 220,000 ounces of gold for the second half of 2018.”
Third Quarter and Nine Months 2018 and
Third Quarter 2017 Production Summary
|
|
3Q 2018 |
3Q
2017 (1) |
Nine Months, Sept 30,
2018 |
Ore Milled |
tonnes |
240,122 |
261,262 |
728,555 |
Head Grade |
g/t |
12.4 |
10.5 |
12.0 |
Recovery |
% |
97.4 |
96.5 |
97.4 |
Gold Ounces Produced |
oz. |
92,641 |
82,203 |
279,670 |
- 3Q 2017 represents the Company’s first quarter of
commercial production.
Third Quarter 2018 Operational and
Financial Results – Webcast and Conference Call
Pretivm plans to release its third quarter 2018
operational and financial results after market close on Thursday,
November 8, 2018. The webcast and conference call to discuss these
results will take place Friday, November 9, 2018 at 8:00 am PT
(11:00 am ET).
Webcast and conference call details:
Friday, November 9, 2018 at 8:00 am PT (11:00 am
ET) |
Webcast |
|
www.pretivm.com |
|
Toll Free (North America) |
|
1-800-319-4610 |
|
International and Vancouver |
|
604-638-5340 |
|
About Pretivm
Pretivm is a low-cost intermediate gold producer
with the high-grade underground Brucejack Mine in northern British
Columbia.
For further information contact:
Joseph Ovsenek |
|
Troy Shultz |
President &
CEO |
|
Manager, Investor
Relations & |
|
|
Corporate
Communications |
Pretium Resources Inc. Suite 2300, Four Bentall Centre, 1055
Dunsmuir Street PO Box 49334 Vancouver, BC V7X 1L4 (604) 558-1784
invest@pretivm.com (SEDAR filings: Pretium Resources Inc.)
Forward-Looking Statements
This news release contains “forward-looking
information”, “forward looking statements”, “future oriented
financial information” and/or “financial outlooks” within the
meaning of applicable Canadian and United States securities
legislation (collectively herein referred to as “forward-looking
statements” or “forward-looking information”). The purpose of
disclosing future oriented financial information and financial
outlooks is to provide a general overview of management’s
expectations regarding the anticipated results of operations and
costs thereof and readers are cautioned that future oriented
financial information and financial outlook may not be appropriate
for other purposes. Wherever possible, words such as “plans”,
“expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”,
“scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”,
“intends”, “modeled’, “targets” and similar expressions or
statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved, or the
negative forms of any of these terms and similar expressions, have
been used to identify forward-looking statements and
information. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance are not statements of historical fact and may be
forward-looking statements. Forward-looking information may
include, but is not limited to, information with respect to: the
release of the Company’s third quarter 2018 operational and
financial results; production and cost guidance (including without
limitation, all-in sustaining cost guidance); the Company’s
precious metals stream and the anticipated repurchase thereof; the
Company’s credit facility and the anticipated refinancing thereof;
anticipated results of our operations; our planned mining,
exploration and development activities; our operational grade
control program, including plans with respect to our infill drill
program and our local grade control model; the reconciliation of
the global resource model for the Valley of the Kings and the
anticipated timing thereof; capital and operating cost estimates;
production and processing estimates; the future price of gold and
silver; the adequacy of our financial resources; our intentions
with respect to our capital resources; our financing activities,
including plans for the use of proceeds thereof; the estimation of
mineral reserves and resources including the 2016 Valley of the
Kings Mineral Resource estimate and the Brucejack Mineral Reserve
estimate; realization of mineral reserve and resource estimates;
timing of further development of our Brucejack Mine; costs and
timing of future exploration and development; results of future
exploration and drilling and timing of such results; capital and
operating cost estimates; timelines and similar statements relating
to the economic viability of the Brucejack Mine, including mine
life, total tonnes mined and processed and mining operations;
timing, receipt, and anticipated effects of approvals, consents and
permits under applicable legislation; our executive compensation
approach and practice; our relationship with community
stakeholders; litigation matters; environmental matters; and
statements regarding USD cash flows currency fluctuations and the
recurrence of foreign currency translation adjustments.
Statements concerning mineral resource estimates may also be deemed
to constitute forward-looking statements to the extent that they
involve estimates of the mineralization that will be encountered if
the property is developed. Forward-looking statements are subject
to a variety of known and unknown risks, uncertainties and other
factors that could cause actual events or results to materially
differ from those expressed or implied by the forward-looking
statements, including, without limitation, those related to: the
accuracy of our mineral resource and reserve estimates (including
with respect to size, grade and recoverability) and the geological,
operational and price assumptions on which they are based;
uncertainties relating to inferred mineral resources being
converted into measured or indicated mineral resources; commodity
price fluctuations, including gold price volatility; general
economic conditions; the inherent risk in the mining industry;
significant governmental regulations; currency fluctuations, and
such other risks as are identified in Pretivm’s Annual Information
Form dated March 28, 2018, Form 40-F dated March 28, 2018 and other
applicable disclosure documents filed on SEDAR at www.sedar.com and
in the United States through EDGAR at the Security and Exchange
Commission’s website at www.sec.gov (collectively, the “Pretivm
Disclosure Documents”). Our forward-looking statements are based on
the assumptions, beliefs, expectations and opinions of management
on the date the statements are made, many of which may be difficult
to predict and beyond our control. In connection with the
forward-looking statements contained in this news release, we have
made certain assumptions about our business, including about our
exploration, development and production activities, and the
results, costs and timing thereof; timing and receipt of approvals,
consents and permits under applicable legislation; the
geopolitical, economic, permitting and legal climate that we
operate in; the price of gold and other commodities; exchange
rates; market competition; the adequacy of our financial resources,
and such other material assumptions as are identified in the
Pretivm Disclosure Documents. We have also assumed that no
significant events will occur outside of our normal course of
business. Although we believe that the assumptions inherent in the
forward-looking statements are reasonable as of the date of this
news release, forward-looking statements are not guarantees of
future performance and, accordingly, undue reliance should not be
put on such statements due to the inherent uncertainty therein. We
do not assume any obligation to update forward-looking statements,
whether as a result of new information, future events or otherwise,
other than as required by applicable law. For the reasons set forth
above, prospective investors should not place undue reliance on
forward-looking statements. Neither the TSX nor the NYSE has
approved or disapproved of the information contained herein.
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