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.