Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Pretium Resources (TSE:PVG) produced 111,340 ounces of gold and generated revenue of $146.5 million during its second quarter, which was announced yesterday.
The company is up 18.5% today to $12.04 a share.
The company said all-in-sustaining costs per ounce of gold was $648. Mill feed grade averaged 14.9 grams per tonne gold for the quarter with gold recoveries averaging 97.7%.
Pretium is an intermediate gold producer operating in northern British Columbia.
Pretium was hammered in January after announcing disappointing production and cost forecasts.
Creative Commons image of cash courtesy of flattop341
