01:09 PM EDT, 03/13/2020 (MT Newswires) -- RBC Capital has reiterated its Sector Perform/Speculative Risk rating on Pretium, saying that the company has "finally reset expectations for Brucejack to what appear to be achievable levels."

Pretium is commencing a high-density RC grade control program in Q2. The updated program provides better resolution of where mineralization is located, allowing stope designs/locations to be optimized. Management expects underground stope inventory (a challenge to-date) to improve in H2/20 as the underground is opened up. The RC program is also expected to help reduce the reliance on stope inventory.

Furthermore, while the company flagged various cost pressures, unit costs were effectively flat relative to the 2019 mine plan, with additional savings from lower selling costs.

Management also reported on its strategy to mitigate the risk of COVID-19, including increasing its 2-month inventory of grinding media (critical consumable), having seen no interruption to concentrate sales, and instituting an employee travel policy.

Price: 7.65, Change: -0.45, Percent Change: -5.56