Pretium Resources Inc. (TSX:PVG) reported its first quarter 2018 production results and provided an operations update as ramp-up advances at the high-grade gold Brucejack Mine.
Highlights are as follows:
First Quarter 2018 Production Summary
- 75,689 ounces of gold produced
- 96.8% gold recovery rate
- 261,443 tonnes of ore milled
- 2,905 tonnes per day ore milled
- 10.9 grams per tonne gold mill feed grade for March; average 9.1 grams per tonne gold mill feed grade for the quarter
Joseph Ovsenek, president & CEO, commented:
Gold production improved steadily through the first quarter, with 32,910 ounces produced in March. This result is attributed to the successful implementation of a number of operational improvement initiatives.
Our grade control program has now been fully integrated into our mining process and the rate of underground development has increased to provide for additional stopes in our inventory. We are focused on continuing to increase grade to the mill in Q2, and we remain on track to deliver on our H1 2018 production guidance of 150,000 to 200,000 ounces of gold at AISC of $900-$700 per ounce of gold sold. We are building on our healthy cash position, and expect to achieve steady-state production by mid-to-late 2018.