North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Pretium Resources Inc. July 9 reported that it produced 92,461 ounces of gold during the third quarter, about 17 percent less than the 111,340 oz produced during the previous three-month period.

The Brucejack mill processed 240,122 averaging 12.4 grams per metric ton gold during the third quarter. While the amount of ore processed was up slightly from the 236,990 metric tons during the second quarter, the grade was substantially lower than the 14.9 g/t gold during the April through June period.

While the gold output is down, Pretium said the Brucejack Mine in northwestern British Columbia continues to turn a profit.

Pretium Resources Inc.

Just over 1,000 ounces of gold per day was poured at Brucejack during the third quarter.

"We added $48 million to our cash on hand during the third quarter, and are focused on sustaining long-term profitability," said Pretium President and CEO Joseph Ovsenek.

As a result, Pretium said it went into October with more than US$190 million in cash.

So far this year, Brucejack has produced 279,670 oz of gold, a pace that would put yearly gold production at this Golden Triangle mine at around 373,000 oz. Pretium, however, indicates a significant rise in Brucejack gold production during the final three months of 2018.

"We are on our way to meeting our gold production guidance of 200,000 to 220,000 oz of gold for the second half of 2018," said Ovsenek.

This means Pretium expects the mine to produce between 107,539 and 127,539 oz. of gold during the fourth quarter, putting 2018 gold production at Brucejack somewhere between 387,209 and 407,209 oz.

–SHANE LASLEY