Wednesday, April 1, 2020

Pretium - Brucejack production

So why should bad news be spread over a single post, we looked at the 'improved' resources, so now let us look at the mine production figures

Pretium have done an excellent job with the mill upgrade

It has been consistently producing 5-10% above nameplate capacity, and they ramped up throughput to 3800 tpd on schedule.

Recovery is still excellent:

However, we see that mined grade is still way off the original Feasibility Study, approximately half that calculated by Tetratech.

 Understandably, this has had a massive knock-on effect to the Au production.

We can see that it is way off, but why don't we plot on the latest reserve grades.

You can see now that the new reserve grades is very close to the actual mine grades. It will be interesting to see of they can keep at this level.

It will be interesting to see if Tetra Tech or Snowdon have any comments on why their 2013 and 2019 resource calculations were so different to mine production and latest resource estimates.

Pretium - Getting back into the swing of things

Sorry I've been away for so long, I've been working on a large project that has taken up all of my free time.

I'm going to run through a few old projects, just to get up to speed

1st up, that old favorite, Pretium Resources, we've had a lot of good times at Brucejack

  • A resource update (link)
  • 2019 operations update (link)
  • CEO resigning (link)
Let us first look at the updated resources!

TLDR version

What a fucking disaster!

Long version

We'll start with the good news

Tonnage went up, apart from a small decrease in reserves!

That's it, everything else was a disaster!


A massive decrease, the latest resources are virtually half that in the original PEA

Almost exactly the same grade as the original resources calculated in 2013

Contained Gold

This has given a small, 3Moz decrease in contained gold