Pretivm Reports Third Quarter Results
BY Market Wire
— 8:14 PM ET 11/10/2017
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/10/17 --
Pretium Resources Inc. ( PVG) ("Pretivm" or the "Company") is pleased to report financial and operating results for the third quarter ended September 30, 2017.
In the news release all quoted figures are in USD$ unless otherwise noted. The Company uses the following non-IFRS 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 Discussion and Analysis and the "Non-IFRS Financial Performance Measures" section at the end of this news release 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 3, 2017.
Production totaled 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%.
Process plant throughput averaged 2,840 tonnes per day for a total of 261,262 tonnes of ore.
Cash and cash equivalents was $53.8 million, with a working capital surplus of $7.2 million as at September 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 sale of 55,413 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 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.
Cash generated by operations was $47.5 million.
