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Dec 18. 2018
VANCOUVER, British Columbia, Dec. 18, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report that it has closed the previously announced US$480 million debt facility (the “Loan Facility”) to refinance its existing construction credit facility. Additionally, the Company has repurchased 100% of the callable 8% gold and silver stream that was sold as part of the construction financing package for the development of the Brucejack Mine. “With the refinancing of our construction credit facility and the repurchase of the precious metals stream, we have accomplished all of the objectives we set for ourselves at the start of this year, including the achievement of steady state gold production and the receipt of permit amendments to increase production to 3,800 tonnes per day,” said Joseph Ovsenek, President and CEO of Pretivm.  “The ability to achieve these objectives in less than six quarters of production in a declining gold ...
Dec 14. 2018
VANCOUVER, British Columbia, Dec. 14, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report that it has received the amended permits to increase the Brucejack Mine production rate to 3,800 tonnes per day from the BC Ministry of Energy, Mines and Petroleum Resources and the BC Ministry of Environment and Climate Change Strategy. The amended permits allow for a production increase to an annual rate of 1.387 million tonnes from 0.99 million tonnes (daily average of 3,800 tonnes from 2,700 tonnes). Minor mill upgrades (estimated to cost less than CAD$25 million) to support the production rate increase are required and will be completed during regularly scheduled mill shutdowns. A specific timeline for ramp-up to the 3,800 tonnes per day production rate along with an updated mine plan is expected in the first quarter of next year. Lyle Morgenthaler, B.A.Sc., P.Eng., Chief Mine Engineer, Pretium Resources Inc. is the Qualified Person ...
Dec 6. 2018
VANCOUVER, British Columbia, Dec. 06, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to provide an update on the progress from the 2018 exploration activities at the Valley of the Kings and the Bowser Claims along with plans for 2019. 2018 Regional Grass-roots Exploration Results Results of the 8,000-meter regional exploration drill program conducted on the Bowser Claims confirm the presence of Brucejack style high-grade gold mineralization hosted in broad zones of low-grade stockwork, highlighting the potential for discovery of porphyry-related copper-gold mineralization and high-level epithermal mineralization on the property ( see Table 1 below for select assays ). Additional drilling is being planned to further evaluate these targets in 2019. The wholly-owned, approximately 1,200-square-kilometer Bowser Claims, located east of the Brucejack Mine, include the American Creek, Bluffy, and Koopa Zones, along with the newly ...
Nov 8. 2018
VANCOUVER, British Columbia, Nov. 08, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report that its Board of Directors (the “Board”) has appointed Robin Bienenstock as an independent director of the Company. Ms. Bienenstock has also been appointed as a member of the Board’s Corporate Governance and Nominating Committee and Compensation Committee. Ms. Bienenstock is a founder and investment partner of RBMP Capital LLP, founded in London, United Kingdom in 2017, and was a partner at Marlin Sams Fund LP from 2014 until 2016. She was a senior research analyst at Sanford C. Bernstein & Co., LLC, Research Division from 2007 until 2014. Ms. Bienenstock has served as a non-executive director, and a member of the Audit Committee of Sunrise Communications Group AG, a Swiss telecommunications provider, since 2016. She has previously served as a member of the Supervisory Board, and a member of the Audit Committee, of Tele Columbus AG, a ...
Nov 8. 2018
Brucejack Mine delivers profitability; significant cash build VANCOUVER, British Columbia, Nov. 08, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report financial and operating results for the third quarter and first nine months of 2018. All amounts are in US dollars unless otherwise noted. This release should be read in conjunction with the Company’s Financial Statements and Management’s Discussion and Analysis (“MD&A”) available on the Company’s website and on SEDAR and EDGAR. “Brucejack delivered another profitable quarter in a declining gold price environment, which speaks to the robust economics of the mine,” said Joseph Ovsenek, President & CEO of Pretivm. “We have generated significant earnings from mine operations every quarter since achieving commercial production, and have built a cash balance of over $190 million. We remain on track to refinance our construction debt facility and repurchase the precious ...
Oct 9. 2018
VANCOUVER, British Columbia, Oct. 09, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report third quarter gold production results for the Brucejack Mine. Third Quarter 2018 Summary 92,641 ounces of gold produced 12.4 grams per tonne gold mill feed grade 97.4% gold recovery rate 240,122 tonnes of ore milled 2,610 tonnes per day ore milled Over $190 million cash position as of September 30, 2018 “We added $48 million to our cash on hand during the third quarter, and are focused on sustaining long-term profitability,” said Pretivm President & CEO Joseph Ovsenek. “We are on our way to meeting our gold production guidance of 200,000 to 220,000 ounces of gold for the second half of 2018.” Third Quarter and Nine Months 2018 and Third Quarter 2017 Production Summary 3Q 2018   3Q 2017 (1) Nine Months, Sept 30, 2018 Ore Milled tonnes 240,122 261,262 728,555 Head Grade g/t 12.4 10.5 12.0 Recovery % 97.4 96.5 97.4 Gold Ounces Produced oz. ...
Oct 4. 2018
VANCOUVER, British Columbia, Oct. 04, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report the signing of a commitment letter for a fully underwritten US$480 million debt facility (the “Loan Facility”) with The Bank of Nova Scotia, Societe Generale and ING Capital LLC. Upon execution of the loan documentation and satisfaction of conditions precedent, the Loan Facility will be available by way of a US$250 million senior secured amortizing non-revolving credit facility (the “Term Facility”) and a US$230 million senior secured revolving credit facility (the “Revolving Facility”). The Loan Facility will be used to refinance the existing construction credit facility, approximately US$423 million due on December 31, 2018, (the “Construction Facility”) for the construction of the Brucejack Mine. Funds from the Revolving Facility will also be available for general corporate purposes including, if necessary, the repurchase of 100% of ...
Sep 24. 2018
VANCOUVER, British Columbia, Sept. 24, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report that it has delivered notice electing to repurchase 100% of the callable 8% gold and silver stream at the end of 2018.  The stream was sold by Pretivm as part of the construction financing package for the Brucejack Mine. “Our quarter over quarter cash build since start-up has allowed us to elect to repurchase the precious metals stream without having to consider equity,” said Joseph Ovsenek, President and CEO of Pretivm.  “With more than 339,000 ounces of gold produced at the Brucejack Mine in the first year of operation, Pretivm is now established as a low-cost, intermediate gold producer.” Repurchase Precious Metals Stream An agreement to sell the precious metals stream for US$150 million was part of the construction financing package for the development of the underground Brucejack Mine (see news release dated September 15, 2015). ...
Sep 10. 2018
Total Rock Excavated in 2017 Less Than Previously Reported VANCOUVER, British Columbia, Sept. 10, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE: PVG) (“Pretivm” or the “Company”) has become aware that the reported figure for the total volume of rock excavated at its Brucejack Mine during 2017 in its British Columbia 2017 Annual Report for Mines Act Permit M-243; Effluent Permit 107835; Air Permit 107025 with respect to the Brucejack Mine (the “2017 ARR”) is incorrect because that figure includes the total historical volume of all mining to the end of 2017 (including mining done prior to 2017). The correct volume of rock excavated at Brucejack during 2017 is 483,992 m 3 , with the portion excavated in tunnels and drifts equal to 305,992 m 3 and in stopes equal to 178,000 m 3 . Accordingly, the excavation within the underground mine during 2017 increased the size of the underground void by approximately 483,992 m 3 , and not 773,000 m 3 as was originally reported in the 2017 ...
Aug 14. 2018
VANCOUVER, British Columbia, Aug. 14, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) announces that Dr. Nicole Adshead-Bell has resigned as a member of the Board of Directors (the “Board”) of Pretivm, effective August 13, 2018. Dr. Robert Quartermain remarks “On behalf of the Board of Directors, I wish to thank and acknowledge the contribution that Dr. Adshead-Bell has made to Pretivm and the Board during our transition from developer into a mid-tier gold producing company.  We wish Dr. Adshead-Bell success in her new role as Managing Director and Chief Executive Officer of Beadell Resources Limited.” About Pretivm Pretivm is emerging as the premier low-cost intermediate gold producer with production at the high-grade underground Brucejack Mine in northern British Columbia now at steady state. For further information contact: Joseph Ovsenek Troy Shultz President & CEO Manager, Investor Relations &   Corporate Communications Pretium Resources ...
Aug 9. 2018
Brucejack delivers on guidance; building a strong cash position VANCOUVER, British Columbia, Aug. 09, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report financial and operating results for the second quarter and first half of 2018. All amounts are in US dollars unless otherwise noted. This release should be read in conjunction with the Company’s Financial Statements and Management’s Discussion and Analysis available on the Company’s website and on SEDAR. “Our cash balance increased by more than $72 million through the quarter to $142.5 million as a result of our improved production at lower costs,” said Joseph Ovsenek, President & CEO of Pretivm. “In the first half of the year, we’ve reached steady state production, fully implemented our grade control program and met our production guidance. We intend to build on this positive momentum for the remainder of the year, firmly establishing Pretivm as a premier high-grade ...
Jul 9. 2018
VANCOUVER, British Columbia, July 09, 2018 (GLOBE NEWSWIRE) - Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report second quarter gold production results and provide guidance for the second half of 2018 for the Brucejack Mine. Second Quarter 2018 Production Summary 111,340 ounces of gold produced 14.9 grams per tonne gold mill feed grade 97.7% gold recovery rate 236,990 tonnes of ore milled 2,604 tonnes per day ore milled “With more than 187,000 ounces produced in the first half of 2018, we have delivered on our first half 2018 guidance of 150,000 to 200,000 ounces of gold,” said Pretivm President & CEO Joseph Ovsenek. “The successful integration of our grade control program into our mining process has resulted in increased grade to the mill with production exceeding grade control estimates for the quarter. Brucejack has now achieved steady-state production, and we expect to deliver 200,000 to 220,000 ounces of gold for the second half of ...
Jun 18. 2018
Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report the results of underground exploration drilling. Both holes, over 1,500-meters in length, drilled east from the Valley of the Kings intersected Brucejack-style mineralization throughout, with anomalous copper and molybdenum mineralization suggesting proximity to porphyry-style mineralization at depth. 50/90 53.00 56.00 3.00 0.71 5.00 74.00 75.00 1.00 11.30 20.70 ...
May 11. 2018
Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) announces the voting results from its Annual General Meeting of Shareholders held on May 10, 2018 (the “Meeting”). A total of 123,704,890 (67.82%) of Pretivm’s common shares were represented at the meeting. The seven nominees listed in the management proxy circular were elected as directors of Pretivm.  Detailed results of the vote for the election of directors are set out below: Number of Directors Setting the number of Directors at seven Votes for % For Votes Against % Against   100,042,807 99.83% 171,640 0.17% Election of Directors Nominee Votes for % For Votes Withheld % Withheld   Robert A. Quartermain Joseph J. Ovsenek George Paspalas Peter Birkey Nicole Adshead-Bell David Smith Faheem Tejani 93,548,533 98,271,147 98,011,888 96,968,635 98,187,368 98,204,726 94,405,817 93.35% 98.06% 97.80% 96.76% 97.98% 97.99% 94.20% 6,665,915 1,943,301 2,202,560 3,245,813 2,027,080 2,009,722 5,808,631 6.65% 1.94% 2.20% ...
May 10. 2018
Steady-state gold production expected by mid-to-late 2018 Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report financial and operating results for the first quarter ended March 31, 2018 . Mining rate tpd 2,982 ...
Apr 11. 2018
Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report first quarter 2018 production results and provide an operations update as ramp-up advances at the high-grade gold Brucejack Mine . 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 “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,” said Pretivm President & CEO Joseph Ovsenek . “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 ...
Mar 8. 2018
On track to achieve steady-state gold production by mid-to-late 2018
Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report financial and operating results for the fourth quarter and year end 2017. 552,205 - Mining rate tpd 3,051 - 3,001 - ...
Feb 26. 2018
Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report that the ramp-up continues to advance at the high-grade gold Brucejack Mine , and the mine remains on track to reach steady state production mid-to-late 2018.  Additionally, an exploration drill program has been initiated underground to test for a porphyry source and evaluate the potential extension of the Valley of the Kings deposit to the east. Optimizing Operations To improve access and build stope inventory the rate of underground development has been increased to 700 meters per month, up from 420 meters originally envisioned in the Brucejack Feasibility Study. A third long-hole drill is now on site to serve as a back-up drill and will also be utilized to increase the rate of underground production to build stope inventory, which is expected to increase to 10 to 12 stopes with a range of grades by mid-year.  The availability of stopes representing a range of grades, including multiple ...
Jan 23. 2018
FAQ: Q4 2017 Production Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) is pleased to provide an operations update for fourth quarter 2017 and the first six months of ramp-up at the high-grade gold Brucejack Mine , and provide guidance for the first six months of 2018 as the ramp-up continues at Brucejack. 2018 Guidance H1 2018 Guidance As the ramp-up of mining into areas of higher definition drilling continues, steady state gold production is now expected to be achieved in mid-to-late 2018.  Gold production at Brucejack for the first half of 2018 is expected in the range of 150,000 ounces to 200,000 ounces, for total first year ramp-up gold production of 302,000 ounces to 352,000 ounces (July 1, 2017 to June 30, 2018).  The achievement of steady state mining in areas with higher drill density and the grade control program in full operation will enable the Company to provide further production guidance later in 2018. 2018 Financial Guidance All in sustaining ...