Pretium Resources (TSX: PVG; NYSE: PVG) said it is on track to achieve its yearly guidance, despite the near five-week Covid-19 outbreak that occurred at its Brucejack mine in British Columbia in February.
The company produced 83,083 ounces of gold in the second quarter of 2021, compared with 90,419 ounces in the second quarter of 2020.
Pretium remains on track to produce 325,000 ounces to 365,000 ounces of gold at an all-in sustaining cost of between US$1,060 and US$1,190 an ounce in 2021.
Revenue in Q2 decreased by 8.6% year-on-year to US$152 million from the sale of 84,618 ounces.
Pretium Resources’ Brucejack mine in British Columbia. Credit: Pretium Resources.
The miner posted net earnings of US$30.7 million, or US$0.16 a share, and adjusted earnings of US$28.5 million, or US$0.15 a share, compared with earnings of US$36.1 million and adjusted earnings of US$32.9 million in Q2 2020.
President and CEO Jacques Perron reported that Pretium had reached a key turning point where its cash position now exceeded its debt.
Cash and cash equivalents increased to US$202.5 million on June 30, 2021, from US$174.8 million on December 31, 2020.
As of June 30, Pretium had long-term debt of US$195.2 million and available liquidity of US$400.8 million.
Midday Friday, Pretium’s stock was up 13% on the NYSE. The company has a US$1.8 billion market capitalization.
Be the first to comment on "Pretium on track to achieve guidance, shares jump"