Pretium Resources Inc: Pretivm Reports 2020 Operating and Financial Results; Achieves Guidance, Delivers Record High Free Cash Flow and Significantly Reduces Debt
2020 production and financial guidance achieved
Gold production - Q4: 88,299 ounces; 2020: 347,743 ounces
AISC
Free cash flow
Revenue - Q4: $169.6 million; 2020: $617.6 million
Received proceeds from the sale of Snowfield of $100.0 million
Repaid $226.7 million of debt including a discretionary payment of $160.0 million
End of quarter cash balance: $174.8 million
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 ) for the years ended December 31, 2020 and 2019, available on the Company s website and on SEDAR and EDGAR.
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Pretium Resources Inc: Underground Exploration Drilling at Brucejack Extends Mineralization with High-Grade Intercepts
VANCOUVER, British Columbia, Feb. 25, 2021 (GLOBE NEWSWIRE) Pretium Resources Inc. (TSX/NYSE: PVG) ( Pretivm or the Company ) today announced high-grade gold mineralization has been intercepted in the first resource expansion drill program completed at the Brucejack Mine since commercial production commenced in 2017. These initial results validate our view that there is exciting extension potential at the North Block Zone of the Valley of the Kings deposit at Brucejack, said Jacques Perron, President and Chief Executive Officer of Pretivm. In 2020 we made a commitment to significantly increase our resource expansion and exploration efforts going forward, and these results from this first phase certainly support that investment.
High grade gold intercepts extend Brucejack potential for Pretium
Pretium Resources Brucejack mine in British Columbia. Credit: Pretium Resources.
The resource expansion drill program completed at the Brucejack mine has returned high grade gold for Pretium Resources (TSX:PVG; NYSE:PVG). This is the first expansion drilling project since the mine began production in 2017.
High grades were drilled in three new areas of the North Bock zone, including four assays above 1,000 grams gold per tonne. The results include intercepts up to 300 meters from the current resource shell, including 19.3 grams gold over 9.0 meters, including 103.5 grams over 1.5 metres in VU-2792; and 2,590 grams gold over 1.0 meter in VU-2794.
Pretium Resources Inc: Pretivm Lifts COVID-19 Travel Restrictions at Brucejack
see news release dated February 10, 2021).
Travel restrictions were instituted as part of the Company s COVID-19 protocols to protect the health and safety of our workforce and local communities while site wide testing was conducted, and the situation could be fully assessed. At the Brucejack Mine Camp 453 tests were conducted, and based on those results it was determined that the large majority of positive cases were restricted to a limited cluster.
Travel has now resumed with enhanced protocols and procedures that were developed in collaboration with local indigenous partners and BC Northern Health. These protocols include rigorous testing of all employees and contractors.
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