Pretium Resources achieves strong FY18 production
Pretium Resources recorded strong gold production at its Brucejack underground mine, in British Columbia, in 2018.
The mine produced 376 012 oz gold for the full-year – just below guidance of 387 000 oz.
“We ended 2018 on a successful note with the closing of [our] bank debt facility, the repurchase of our precious metals stream, the payout of our construction credit facility, the receipt of amended permits to increase production to 3 800 t/d and the production of 376 000 oz gold, all in our first calendar year of production, which included six months of ramp-up,” said Pretium president and CEO Joseph Ovsenek in a statement on Wednesday.
“Our successes can be attributed to the hard work of our team and the consistent profitability of the high-grade Brucejack mine – the cornerstone of our plan to build Pretium into a tier-one Canadian gold producer.”
Commercial production at the mine started in July 2017, with ramp-up continuing into the first half of 2018 and steady-state production achieved in July 2018.
Key advances over the course of mining in 2018 have included the implementation, in the first quarter, of a grade control programme into short-term mine planning.
The grade control programme will continue to be refined over the coming quarters to improve short-term grade estimation and predictability.
Further, a review of mining methods is under way to potentially reduce dilution and development costs with the use of longitudinal long-hole stoping.
A specific timeline for ramp-up to the 3 800 t/d production rate, along with production and cost guidance for 2019, will be revealed later in the current quarter.
Minor mill upgrades to support the production rate increases are required and will be completed during regularly scheduled mill shutdowns.
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