2020 GuidanceWell, we've been on this board (a few of us) trying to tell long shareholders it was time to get out. Head grades have been falling and the only thing that saved PVG was the 3800 tpd throuhgput increase which still doesn't get them anywhere close to their original guidance.
Finally, they are getting rid of Ovsenek. I guess all those lies, misleading shareholders, developmental muck memos, insider trades, finally caught up to him.
2020 guidance was pretty bad. Head grade is going down, production costs were still pretty steep, and it does indeed look like PVG was high grading. Guidance is still going down even with the 3800 tpd increase.
Well, so much for Wednesday reporting. At least finally- something resembling the truth.
Gold production at the Brucejack Mine for 2020 is expected to be in the range of 325,000 to 365,000 ounces. The production rate for 2020 is expected to be 3,800 tonnes per day with average annual gold grade ranging between 7.6 grams per tonne to 8.5 grams per tonne at a targeted gold recovery of 97%. The midpoint of 2020 gold production guidance is slightly below 2019 actual production.