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Pretium's Q4'18 gold output up 37.1% YOY; H2'18, FY'18 output misses guidance

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Pretium's Q4'18 gold output up 37.1% YOY; H2'18, FY'18 output misses guidance

Pretium Resources Inc. produced 96,342 ounces of gold in the fourth quarter from its Brucejack mine in British Columbia, up 37.1% from 70,281 ounces of gold in 2017.

The mine produced 188,983 ounces of gold in the second half, just short of the company's second-half guidance of 200,000 ounces of gold.

Full-year output, meanwhile, stood at 376,012 ounces of gold, which was also below 2018 guidance of 387,000 ounces of gold.

Pretium said Jan. 9 that it will continue refining the grade control program in the next quarters to improve short-term grade estimation and predictability, after the program overcalled actual mill production during the quarter.

With the program implemented, head grade averaged 12.9 g/t of gold for the second to fourth quarters.

Pretium added that a specific timeline for the ramp-up to a production rate of 3,800 tonnes per day, along with production and cost guidance for the year, is expected later in the first quarter.