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Pretium raises C$18m for BC gold project

22nd January 2015

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – TSX- and NYSE-listed Pretium Resources has raised C$18.25-million through a nonbrokered private placement of shares with existing shareholders to fund capital expenditures at its Brucejack gold project, in British Columbia.

The funds would be used for the procurement of long-lead items and camp infrastructure, besides other expenditures.

Commercial production at Brucejack was targeted for 2017, with the mine expected to produce about 504 000 oz/y of gold over the first eight years and 404 000 oz/y over the remainder of its 18-year life.

China-based Zijin Mining acquired a 9.9% stake in Pretium for C$80.87-million in December.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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