Pretium Lists Adjusted 1Q Profit; Brucejack Ramp-Up Continues
PretiumResources Inc. (TSX, NYSE: PVG), which is ramping up the Brucejack Mine inBritish Columbia, reports an adjusted profit in the first quarter. Productiontotaled 75,689 ounces of gold and 94,730 ounces of silver, with officialsreporting that output improving steadily through the first quarter. There is nocomparable information from the year-ago quarter since Brucejack achievedcommercial production on July 1. The company lists a net loss of $8.1 million,or 4 cents per share. Adjusted earnings were $5.8 million, or 3 cents. “TheBrucejack Mine is generating free-cash flow, and we are on track to achievingH1 2018 guidance of $900 to $700 per ounce of gold sold,” says Joseph Ovsenek,president and chief operating officer. “We remain confident that we willdeliver on our H1 2018 AISC [all-in-sustaining-cost] guidance, as well as ourproduction guidance of 150,000 to 200,000 ounces of gold and expect to achievesteady-state production by mid-to-late 2018.”
By Allen Sykoraof Kitco News; asykora@kitco.com
SSR MiningReports Smaller 1Q Adjusted Profit
Thursday May 10, 2018 08:23
SSR MiningInc. (NASDAQ, TSX: SSRM) reports an adjusted profit of $5.7 million, or 5 centsper share, in the first quarter. This is down from $19.7 million, or 17 cents,in the same period a year ago. The company lists a net loss of $2.3 million, ora penny, compared to a profit of $15 million, or 13 cents, in the same quarterof 2017. Revenue decreased by 17% from a year ago mainly due to the expecteddeclines in sales at Puna operations as a result of processing lower-gradestockpiles, and at the Marigold mine due to planned production and leachcycles. "We produced over 78,000 gold-equivalent ounces with all threeoperations performing well during the quarter,” says Paul Benson, president andchief executive officer. At the mid-point of guidance, the company expects toproduce 340,000 gold-equivalent ounces in 2018.
By Allen SykoraFor Kitco News
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