Gold Miner Reports Q2 Gold Production Results and Provides Guidance

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Source: Streetwise Reports   07/10/2018

The company met production targets and achieved steady-state production at Brucejack.

Pretium Resources Inc. (PVG:TSX; PVG:NYSE) recently reported second quarter gold production results which are:

  • 111,340 ounces of gold produced
  • 14.9 grams per tonne gold mill feed grade
  • 97.7% gold recovery rate
  • 236,990 tonnes of ore milled
  • 2,604 tonnes per day ore milled

"With more than 187,000 ounces produced in the first half of 2018, we have delivered on our first half 2018 guidance of 150,000 to 200,000 ounces of gold. The successful integration of our grade control program into our mining process has resulted in increased grade to the mill with production exceeding grade control estimates for the quarter. Brucejack has now achieved steady-state production, and we expect to deliver 200,000 to 220,000 ounces of gold for the second half of 2018," said Pretium President and CEO Joseph Ovsenek.

The company also provided guidance for the second half of 2018 for the Brucejack Mine. Gold production at this mine is expected in the range of 200,000 ounces to 220,000 ounces for the second half of 2018, for total 2018 gold production of 387,000 ounces to 407,000 ounces.

For the second half of 2018, all-in sustaining costs are expected to range from US$710 per ounce gold sold to US$770 per ounce gold sold. Bruckjack Mine production has now reached a steady state, so there will be an increased focus on operational efficiency to reduce costs, the company indicated.

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( Companies Mentioned: PVG:TSX; PVG:NYSE, )

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