Pretium Lists Adjusted Profit As Brucejack Output Begins
Pretium Resources Inc. (TSX,NYSE: PVG) posted an adjusted profit in the third quarter as commercial production was declared at the company’s main asset, the Brucejack mine in British Columbia, at the start of the period. Output totaled 82,203 ounces of gold and 83,233 ounces of silver. There is no comparable figure for the same period a year ago since production began in 2017. The net loss was $7 million, or 4 cents per share, the company reports. However, excluding special items, adjusted earnings were $8.3 million, or 5 cents. All-in sustaining costs averaged $788 an ounce.
By Allen Sykora of Kitco News; firstname.lastname@example.org
Caledonia 3Q Profit Rises Along With Production
Monday November 13, 2017 08:36
Caledonia Mining Corp. Plc. (NYSE, AIM: CMCL; TSX: CAL) reports a higher third-quarter profit after achieving record quarterly production. Output rose from 13,428 ounces of gold in the year-ago period to 14,396 this year, helped in part by higher grades. Net income climbed to $3.1 million from $1.1 million, while adjusted earnings per share rose from 22.1 cents to 40.8 cents. All-in sustaining costs fell from $1,004 a year ago to $773. “The reduction was due to higher gold production, which means that fixed costs such as general and administrative costs are spread across more ounces,” says Steve Curtis, chief executive officer. “The lower AISC compared to the third quarter of 2016 was also due to lower general and administrative expenses and the recognition of the export incentive credit which is paid by the Zimbabwean government at a value of three and a half percent of Blanket’s revenues.”