Visible gold in core from the Brucejack gold-silver project. (Image: Pretium Resources)
BRITISH COLUMBIA – Vancouver-based Pretium Resources has announced its intention to repurchase the whole of the callable 8% gold and silver stream at the end of this year. The stream was sold as part of the construction finance package for the Brucejack gold-silver mine 60 km north of Stewart.
Orion and Blackstone bought the stream for US$150 million in 2015. It applies to the first 7.0 million oz. produced. The original arrangement gave Pretium the option to repurchase the entire stream by paying US$272 million. Osisko Gold Royalties also has an interest in the stream. For Pretium to buy back Osisko’s share, it will pay US$118.5 million. Osisko will retain its arrangement to take 50% of the gold produced by the Brucejack mine.
More information is available at www.Pretivm.com.