Pretium Resources jumps 6% after confirming 'robust' Brucejack performance
Earlier on Thursday, Pretium Resources announced an updated Mineral Reserve and Mineral Resource and Life of Mine Plan for the Brucejack Mine, which highlight the continued robust economics of the low-cost, long-life operation. "Since achieving production at Brucejack we have processed over 1.5M tonnes of ore and produced over 500,000 ounces of gold, providing us a solid foundation of operating experience and key metrics to update the life of mine plan and outlook for the mine," said Joseph Ovsenek, President and CEO of Pretivm. "At $1,300 gold, Brucejack now has an estimated after-tax net present value at a 5% discount rate of $2.59 billion over a 14-year mine life. This is a significant increase from the 2017 estimated net present value at a 5% discount rate of $2.10 billion. With Brucejack as our foundation and with our considerable growth profile, Pretivm is well-positioned as a profitable gold producer." Shares of Pretium Resources are up 6.25% or 51c to $8.67 per share in afternoon trading.