Mining News: Northern Neighbors: Pretium raises $130 million; Brucejack now fully funded

Pretium Resources Inc. March 1 announced the closing of a marketed offering of 28,384,000 common shares at a price of US$4.58 per share for gross proceeds of US$129,998,720, which includes the exercise of the full amount of an over-allotment option of 2,174,000 common shares. The net proceeds of the offering will be used to fund development of the Brucejack gold project in northwestern British Columbia, working capital during start-up pf the mine and for general corporate purposes. With the US$540 million construction financing package announced in September, previous held cash and funds raised through this financing, Pretium has the capital available to fully fund the US$696.8 million development of the Brucejack Mine. The company said construction at the high-grade underground gold project remains on schedule and commissioning is expected to begin in third quarter of 2017.

- Shane Lasley