|Thank you Grant Naylor|
If genuine it belongs at the beginning and is believed to have read "To my darling Daniela. All figures portrayed within this report are fictitious and any resemblance to the truth is purely coincidental"*
*Just my warped sense (lack) of humor.
Why don't we state the obvious:
- The mine is profitable
- The first 6 months production was a big miss
- H1 2008 guidance - will be a big miss when compared to the FS
The nice thing about Brucejack is that we can compare the actual production figures against Tetra tech's feasibility study.
Here are the projected gold and silver projections:
1st Year production (essentially July 2017 to June 2018)
- Feasibility Study = projects 402,393.74 oz production
- Pretium guidance:
- Low end = 302,000
- 100,000 oz or 24.85% less than the FS
- High-end = 352,000 oz
- 50,000 oz or 12.4% less than the FS
What does that mean?
Simply, Pretium will be receiving much less revenues from Brucejack than original calculated by:
- At $1100/oz = $55.4M - $110M less revenues for Year 1
- At $1300/oz = $65.5M - $130M less revenues for Year 1