|Pretium Resources Inc. - PVG.t is advancing the flagship Brucejack project located 65 kilometers north of Stewart in northern British Columbia. |
A feasibility study has outlined Proven and Probable mineral reserves in the Valley of the Kings of 6.9 million ounces of gold (13.6 million tonnes grading 15.7 grams per tonne gold)
Pretium Resources Inc. has released financial and operating results for the third quarter ended Sept. 30, 2017. In the news release, all quoted figures are in U.S. dollars unless otherwise noted. The company uses the following non-international financial reporting standard measures: total cash costs, all-in sustaining costs (AISC), average realized gold price, average realized margin, adjusted earnings (loss) and adjusted earnings (loss) per basic share. Refer to the company's management's discussion and analysis for an explanation and discussion of these non-IFRS measures.
Third quarter 2017 overview:
- Commercial production was declared at the Brucejack mine at the onset of the third quarter and announced on July 4, 2017.
- Production totalled 82,203 ounces of gold and 83,233 ounces of silver.
- Mill feed grade averaged 10.5 grams per tonne gold.
- Gold recoveries averaged 96.5 per cent.
- Process plant throughput averaged 2,840 tonnes per day for a total of 261,262 tonnes of ore.
- Cash and cash equivalents were $53.8-million, with a working capital surplus of $7.2-million as at Sept. 30, 2017, which was an improvement from the working capital deficit of $12.9-million as at June 30, 2017.
- Revenue of $70.9-million was generated on the sale of 55,413 ounces of gold and 19,848 ounces of silver.
- Total cost of sales was $44.9-million or $810 per ounce of gold sold. Total cash cost was $656 per ounce of gold sold, and AISC (all-in sustaining cost) was $788 per ounce of gold sold. As gold sales catch up with production, total cash costs and AISC per ounce sold are expected to decrease.
- Earnings from mine operations were $26.0-million.
- Net loss was $7.0-million. Adjusted earnings were $8.3-million.