04:30 PM EST, 02/03/2017 (MT Newswires) -- Pretium Resources Inc. (PVG,PVG.TO) Friday said it was accelerating work at its Brucejack Mine in northwestern British Columbia and will begin the process of installing equipment and other components of the proposed underground gold mine in March.

The company said it has already stockpiled over 110,000 tons of ore above and underground in preparation for mill commissioning. Underground development also is well advanced, it said, with eleven stopes crosscut on two levels in preparation for long-hole drilling slated to begin during the second week of March. Cross cutting of four more stopes also is underway.

Pretium today said the estimated cost to complete construction at the mine, including contingencies, was $811.1 million - a $114 million increase over its February 2016 forecast. Among the project areas the company cites for for the 16% rise in costs are nearly $40 million for construction of a transmission line as well as almost $14 million in expenses tied to the upcoming project acceleration.

Once complete, the mine will employ around 330 people and includes offices, recreation facilities, dining hall and kitchen already fully operational.

PVG shares were slipping about 0.2% in after-hours Friday night to $10.91 each, extending a 1.2% decline during today's regular session.

Price: 10.91, Change: -0.02, Percent Change: -0.20