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Pretium Resources (PVG) reported its Q2 2021 results, revealing $152.3 million in revenue and $50.7 million in free cash flow. Gold production fell to 83,083 ounces, down from 90,419 ounces in Q2 2020, largely due to COVID-19 impacts and stope performance issues. Net earnings declined to $30.7 million (or $0.16 per share), while adjusted earnings were $28.5 million. AISC rose to $1,099 per ounce. The company remains on track for its 2021 guidance of 325,000 to 365,000 ounces produced at AISC between $1,060 and $1,190 per ounce.
Pretium Resources (PVG) announced an amendment to its credit facility, increasing its size to US$350 million from US$300 million. The new facility consists of a US$100 million non-revolving term credit facility and a US$250 million revolving credit facility, with a maturity date of August 8, 2025. The funds will support general corporate purposes and enhance liquidity. The facility carries interest based on LIBOR rates with an applicable margin of 2.5% to 3.5%.
Pretium Resources Inc. (PVG) will announce its second quarter 2021 financial and operational results after market close on August 12, 2021. A conference call to discuss the findings is scheduled for August 13, 2021, at 7:30 am PT (10:30 am ET). Investors can access the details via www.pretivm.com. Pretium is known for its high-grade gold production from the Brucejack Mine, contributing significantly to its growth trajectory in the mining sector.
Pretium Resources (PVG) announced high-grade gold mineralization in Phase 2 of the North Block resource expansion drill program at Brucejack Mine, British Columbia. Key results include drill hole VU-2933 with 561.6 grams per tonne gold over 15 meters and VU-2932 with 306.6 grams per tonne gold over 19.5 meters. The program included 22,964 meters drilled and aims to extend the resource up to 450 meters north of current boundaries. Successful results prompt initiation of additional drill phases to further explore the North Block potential.
Pretium Resources Inc. (PVG) held its Annual General and Special Meeting on May 4, 2021, with 67.88% of shares represented. All proposed matters were approved, including the election of eight directors and the appointment of PricewaterhouseCoopers LLP as auditors. Notably, Maryse Saint-Laurent was elected as a new independent director, succeeding Peter Birkey. Voting results showed strong support for director nominations, with most receiving over 95% approval. The meeting also ratified amendments to the Advance Notice Policy and approved an advisory vote on executive compensation.
Pretium Resources Inc. (PVG) announced its Q1 2021 results, achieving $142.4 million in revenue and $51.0 million in free cash flow. Gold production increased to 85,795 ounces from 82,888 ounces in Q1 2020, driven by a higher head grade of 8.2 g/t. Net earnings rose to $26.6 million or $0.14 per share, significantly up from $8.8 million in the previous year. Despite a COVID-19 outbreak, operations continued with enhanced safety protocols. AISC was $1,005 per ounce, below annual guidance. The company remains on track to meet 2021 production guidance of 325,000-365,000 ounces.
Pretium Resources Inc. (PVG) announced new high-grade gold mineralization results from underground exploration drilling at the Brucejack Mine's 1080 Level. The drilling intercepted gold mineralization up to 200 meters below the current resource shell, indicating potential for resource extension. Significant assays included 1,635 grams per tonne gold over 1.0 meter and 1,400 grams per tonne gold with 1,310 grams per tonne silver over 1.0 meter. A total of 14,009 meters were drilled across 59 holes, with further exploration planned for 2021.
Pretium Resources Inc. (PVG) will announce its Q1 2021 operational and financial results on May 4, 2021, after market close. A conference call and webcast to discuss these results will be held on May 5, 2021, at 9:00 AM PT (12:00 PM ET). Investors can access the webcast at www.pretivm.com. Pretium is recognized as an intermediate gold producer, primarily operating the high-grade Brucejack Mine.
Pretium Resources Inc. (PVG) announced its Q4 and full-year 2020 results, achieving gold production of 347,743 ounces, with AISC at $981 per ounce. Q4 revenue reached $169.6 million, while free cash flow totaled $177.8 million. Debt repayment was significant, with $226.7 million cleared, leaving a cash balance of $174.8 million. The company faced challenges, including a COVID-19 outbreak, yet operational disruptions were minimized. The net loss for 2020 was $38.4 million, primarily due to the sale of the Snowfield project, which resulted in a significant loss.
Pretium Resources Inc. (PVG) reported significant high-grade gold mineralization results from its North Block resource expansion drilling at the Brucejack Mine, the first since commercial production started in 2017. Notable findings include four intersections exceeding 1,000 grams per tonne gold, with highlights such as 2,590 grams per tonne over 1 meter in hole VU-2794. The expansion program includes 38 drill holes totaling 7,011 meters, targeting areas up to 450 meters north of the current resource. These results support Pretium’s commitment to enhance exploration efforts and resource expansion.
