{"id":1165279,"date":"2020-02-12T16:23:25","date_gmt":"2020-02-12T22:23:25","guid":{"rendered":"https:\/\/www.mining.com\/?p=1013765"},"modified":"2020-02-12T16:23:25","modified_gmt":"2020-02-12T22:23:25","slug":"pretiums-production-outlook-for-brucejack-drops-so-does-stock","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1165279","title":{"rendered":"Pretium\u2019s production outlook for Brucejack drops, so does stock"},"content":{"rendered":"<p>Pretium Resources (NYSE, TSX: PGV) <a rel=\"noreferrer noopener\" aria-label=\"reported its 2019 results (opens in a new tab)\" href=\"https:\/\/www.pretivm.com\/news\/news-release-details\/2020\/Pretivm-Reports-2019-Results-Production-Outlook-and-Leadership-Transition-Plan\/default.aspx\" >reported its 2019 results<\/a> and production outlook for 2020 on Wednesday, revealing that it expects to produce 325,000. to 365,000 oz. gold a year while it mines the Valley of the Kings zone, a significant drop from the 525,000 oz. long-term output rate forecast last year. <\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Pretium said the change in the production outlook is due to lower estimated gold grades.<\/p>\n<p>Gold production of 354,405 oz. from the Brucejack mine last year at all-in sustaining costs (AISC) of $888 per oz. is in line with earlier forecasts.<\/p>\n<p> The miner said it expects to release an updated life of mine plan by the end of March, which will include a resource and reserve update for Brucejack. <\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> Pretium said the change in the production outlook is due to lower estimated gold grades <\/p>\n<\/blockquote>\n<\/figure>\n<p>Last year, the mine generated $184.2 million in free cash flow, allowing the company to reduce its total debt by $180.4 million.<\/p>\n<p>This year, with 325,000 oz. to 365,000 oz. of gold expected, AISCs are forecast at $910 to $1,060 per oz. which includes costs related to ongoing lateral development and one-time sustaining capital items.<\/p>\n<p>The NI 43-101 compliant report updated reserves for Brucejack to 16 million tonnes at 12.6 g\/t gold for a total of 6.4 million oz., primarily comprised of the 5.8-million oz. Valley of the Kings zone.<\/p>\n<p>Pretium also said its is planning a leadership transition. Meanwhile, Joseph Ovsenek will remain at the helm.<\/p>\n<p>At market close Wednesday, Pretium&#8217;s stock was down over 21%. The days trades reached nine million, over seven times the average daily volume. The company has a $1.3 billion market capitalization. <\/p>\n<p><em>(A version of this article first appeared in the <\/em><a rel=\"noreferrer noopener\" href=\"http:\/\/www.canadianminingjournal.com\/\" ><em>Canadian Mining Journal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pretium said the change in the production outlook is due to lower estimated gold grades.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,949,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165279"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1165279"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165279\/revisions"}],"predecessor-version":[{"id":1165296,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165279\/revisions\/1165296"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1165279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1165279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1165279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}