Pretium Resources roars back

After spooking investors in January with worrisome production results, Pretium Resources (TSX:PVG) said it produced 111,340 oz of gold in the second quarter sending the stock 13 per cent higher to $11.99 a share.

The company said it had a 14.9 grams per tonne gold mill feed grade and a 97.7% gold recovery rate.

“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 and CEO Joseph Ovsenek in a news release.

“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 2018.”

The company said all-in-sustaining costs for the second half of 2018 are expected to range from US$710 per ounce gold sold to US$770 per ounce gold sold.