01:51 PM EDT, 09/27/2017 (MT Newswires) -- Joe Ovsenek, President & CEO of Pretium Resources, presented at the Denver Gold Forum.

PVG reiterated its ramp-up is progressing well and stated that it expects to be working capital positive by the end of Q3, from a US$12.9 million deficit at the end of Q2. Head grade continues to increase and the mill is running well and has reached 3,300-3,400tpd on a daily basis. Recoveries are now +94% and tracking well towards the 96.7% LOM target. PVG plans to release Q3 production results in early/mid-October. Grade reconciliation data and 2018 guidance will be provided at the end of the year.

Credit Suisse raised its 2017 production estimate to 179koz from 143koz, above consensus of 136koz. Q3 est. is based on 2,700tpd, 11.39g/t and 92% recoveries.

2018 to include a greater focus on exploration. Financial strategy for 2018 to buy back stream and repay debt: On Credit Suisse estimates PVG would need to refinance a portion of its project debt or exercise its option for 2019YE repayment.

Maintain Outperform, US$13.50 TP.

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