PVG - Pretivm reports higher profits despite rise in costs

Pretivm ([[PVG]] +0.9%) produced 86,136 oz of gold and 130,975 oz of silver in Q3, compared to 88,227 and 124,958, respectively, in Q3 of 2019.The company says YTD production of 259,000 oz puts it on track to meet yearly guidance of between 325,000-365,000 oz from the Brucejack mine.Adjusted earnings came in above expectations and surged 49% to $51M.Higher gold price boosted the company’s revenue to $153M, from the sale of 81,068 oz at an average realized price of $1,935/oz, vs. revenue of $129M from sale of 90,713 oz at $1,486/oz, a year ago.Though reported AISC were higher year-on-year, at $1,016/oz, compared with $878/oz in the last year quarter.Meanwhile, Pretivm continues to progress infill diamond drilling at the mine, particularly west toward the Brucejack Fault zone. The program was intended to support mining in Q1 of 2021.Achieved free cash flow of $66.8M, with end of quarter cash balance of $175M.Maintained 2020 guidance - Cash

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Pretivm reports higher profits, despite rise in costs