Golden Triangle gold miner Pretium Resources on Wednesday lost more than one fifth of its value, after the gold miner provided its 2020 guidance for the Brucejack mine and flagged lower production from the new Valley of the Kings deposit.
The company also announced that its president and CEO, Joseph Ovsenek, would make way for someone new, while chief geologist Warwick Board had resigned to pursue a new opportunity.
In 2019, the Brucejack mine beat the upper-end of its guidance, producing 354 405 oz at an all-in sustaining cost (AISC) of $888/oz. The mine’s guidance was lowered by 15% in October last year to between 340 000 oz and 350 000 oz of gold, owing to limited stope availability.