Pretivm Reports Second Quarter Results; Gold Sales Have Commenced

Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report highlights from the second quarter of 2017 and commissioning updates for its high-grade gold Brucejack Mine. During commissioning in June and grade ramp-up in July a total of 25,392 ounces of gold were produced from low-grade stockpiles, development muck and, in July, the addition of stope ore. Gold sales have commenced.

As quoted in the press release:

Significant Events

  • On June 20, 2017, we announced that the first gold was poured at the Brucejack Mine and that the flotation and gravity circuits were operational.

  • During commissioning, 8,510 ounces of gold were produced in June from low-grade stockpiles and development muck.

  • Working capital at June 30, 2017 was a deficit of US$12.9 million, which includes liabilities of US$12.4 million that are not expected to result in cash outflows during our short-term working capital deficit. We expect as gold production ramps up this deficit will reverse. (Refer to the “Working Capital” section below).

  • Subsequent to the end of the quarter, on July 3, 2017, we announced that commercial production was achieved at the Brucejack Mine under the terms of the credit agreement among Pretivm and its lenders. During the month of June, the process plant at Brucejack processed 70,805 tonnes of ore for an average of 2,360 tonnes per day.

  • Subsequent to the end of the quarter, in July during grade ramp-up, 16,882 ounces of gold were produced from stockpiles, development muck and the introduction of stope ore.

  • On August 1, 2017, the Completion Date was reached at the Brucejack Mine under the terms of the credit agreement among Pretivm and its lenders. During the month of July the process plant processed 83,667 tonnes of ore for an average rate of 2,699 tonnes per day.

Click here for the full text release

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