Pretium Resources' sample gold output tops target by 47 pct

Fri Dec 13, 2013 10:18am EST
 
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Dec 13 (Reuters) - Pretium Resources Inc said gold output from a sample production program at its flagship gold exploration project topped its target by about 47 percent.

The company's shares rose as much as 12 percent after the Canadian miner said it produced 5,865 ounces of gold from 10,302 dry tonnes of ore from the program, dubbed "Valley of the Kings", at Brucejack in British Columbia.

Vancouver-based Pretium also reported silver production of 4,950 ounces.

The company had targeted to produce 4,000 ounces of gold from 10,000 tonnes of ore.

Shares of Pretium, which has a market value of about C$623 million ($586 million), were up 5 percent at C$6.13 on the Toronto Stock Exchange in early trading on Friday.

The U.S.-listed shares of the company were up 3.8 percent at $5.79 on the New York Stock Exchange.