Pretium Resources Inc.: Brucejack Approved for Production Increase to 3,800 tonnes per day
December 14 2018 - 6:09PM
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
responsible for Brucejack Mine development.
About Pretivm
Pretivm is a low-cost intermediate gold producer
with the high-grade underground Brucejack Mine in northern British
Columbia.
For further information contact:
Joseph Ovsenek
President
& CEO
Troy ShultzManager, Investor Relations &Corporate
Communications
Pretium Resources Inc. Suite 2300, Four Bentall Centre, 1055
Dunsmuir Street PO Box 49334 Vancouver, BC V7X 1L4 (604) 558-1784
invest@pretivm.com (SEDAR filings: Pretium Resources Inc.)
Forward-Looking Statements
This news release contains “forward-looking
information”, “forward looking statements”, “future oriented
financial information” and/or “financial outlooks” within the
meaning of applicable Canadian and United States securities
legislation (collectively herein referred to as “forward-looking
statements” or “forward-looking information”). The purpose of
disclosing future oriented financial information and financial
outlooks is to provide a general overview of management’s
expectations regarding the anticipated results of operations and
costs thereof and readers are cautioned that future oriented
financial information and financial outlook may not be appropriate
for other purposes. Wherever possible, words such as “plans”,
“expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”,
“scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”,
“intends”, “modeled’, “targets” and similar expressions or
statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved, or the
negative forms of any of these terms and similar expressions, have
been used to identify forward-looking statements and
information. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance are not statements of historical fact and may be
forward-looking statements. Forward-looking information may
include, but is not limited to, information with respect to: our
planned mining, exploration and development activities, including
our regional grass-roots exploration program, our deep hole
underground exploration drilling and our expansion drilling, and
the results, plans and timing thereof; production and cost
guidance; anticipated results of our operations; our operational
grade control program, including plans with respect to our infill
drill program and our local grade control model; the reconciliation
of the global resource model for the Valley of the Kings and the
anticipated timing thereof; capital and operating cost estimates;
production and processing estimates; the future price of gold and
silver; the adequacy of our financial resources; our intentions
with respect to our capital resources; our financing activities,
including plans for the use of proceeds thereof; the estimation of
mineral reserves and resources including the 2016 Valley of the
Kings Mineral Resource estimate and the Brucejack Mineral Reserve
estimate; realization of mineral reserve and resource estimates;
timing of further development of our Brucejack Mine; costs and
timing of future exploration and development; capital and operating
cost estimates; timelines and similar statements relating to the
economic viability of the Brucejack Mine, including mine life,
total tonnes mined and processed and mining operations; timing,
receipt, and anticipated effects of approvals, consents and permits
under applicable legislation, including the estimated cost and
timing of increase in production and the timing of the updated mine
plan; our executive compensation approach and practice; our
relationship with community stakeholders; litigation matters;
environmental matters; and statements regarding USD cash flows
currency fluctuations and the recurrence of foreign currency
translation adjustments. Statements concerning mineral
resource estimates may also be deemed to constitute forward-looking
statements to the extent that they involve estimates of the
mineralization that will be encountered if the property is
developed. Forward-looking statements are subject to a variety of
known and unknown risks, uncertainties and other factors that could
cause actual events or results to materially differ from those
expressed or implied by the forward-looking statements, including,
without limitation, those related to: the accuracy of our mineral
resource and reserve estimates (including with respect to size,
grade and recoverability) and the geological, operational and price
assumptions on which they are based; uncertainties relating to
inferred mineral resources being converted into measured or
indicated mineral resources; commodity price fluctuations,
including gold price volatility; general economic conditions; the
inherent risk in the mining industry; significant governmental
regulations; currency fluctuations, and such other risks as are
identified in Pretivm’s Annual Information Form dated March 28,
2018, Form 40-F dated March 28, 2018 and other applicable
disclosure documents filed on SEDAR at www.sedar.com and in the
United States through EDGAR at the Security and Exchange
Commission’s website at www.sec.gov (collectively, the “Pretivm
Disclosure Documents”). Our forward-looking statements are based on
the assumptions, beliefs, expectations and opinions of management
on the date the statements are made, many of which may be difficult
to predict and beyond our control. In connection with the
forward-looking statements contained in this news release, we have
made certain assumptions about our business, including about our
exploration, development and production activities, and the
results, costs and timing thereof; timing and receipt of approvals,
consents and permits under applicable legislation; the
geopolitical, economic, permitting and legal climate that we
operate in; the price of gold and other commodities; exchange
rates; market competition; the adequacy of our financial resources,
and such other material assumptions as are identified in the
Pretivm Disclosure Documents. We have also assumed that no
significant events will occur outside of our normal course of
business. Although we believe that the assumptions inherent in the
forward-looking statements are reasonable as of the date of this
news release, forward-looking statements are not guarantees of
future performance and, accordingly, undue reliance should not be
put on such statements due to the inherent uncertainty therein. We
do not assume any obligation to update forward-looking statements,
whether as a result of new information, future events or otherwise,
other than as required by applicable law. For the reasons set forth
above, prospective investors should not place undue reliance on
forward-looking statements. Neither the TSX nor the NYSE has
approved or disapproved of the information contained herein.
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