Canadian Mining Journal

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GOLD: Pretium refinances Brucejack construction loan



The Brucejack gold mill during the winter of 2018. (Image: Brucejack Resources)

BRITISH COLUMBIA – Based in Vancouver, Pretium Resources has refinance the construction credit facility used to build the Brucejack gold mine 65 km north of Stewart.  The company has a commitment letter from the Bank of Nova Scotia, Societe Generale, and ING Capital for a US$480 million loan.

The loan has a non-revolving US$250 million credit facility and a revolving US$230 million credit facility.

Pretium will use the loan ot refinance the existing construction loan of about US$423 million due on Dec. 31, 2018. The revolving loan may also be available for general corporate purposes, including if necessary, the repurchase of all the existing 8% precious metals stream.

The Brucejack gold mine has reached steady state production at a rate of 2,700 t/d. In years 1 to 8, output will be 504,000 oz. for each year or for the total 18 years of mine life it will average 404,000 oz. of gold.

Complete details about Brucejack are available at www.Pretivm.com.