Feasibility Study and Technical Report - Pretivm

21.1.2 ESTIMATE BASE DATE AND VALIDITY PERIODThis estimate was prepared with a base date of Q2 2013 and does not include anyescalation beyond this date. The quotations used for this feasibility study estimate wereobtained in Q2 2013, and have a validity period of 90 days.21.1.3 ESTIMATE APPROACHCURRENCY AND FOREIGN EXCHANGEThe capital cost estimate uses Canadian dollars as the base currency. Foreign exchangerates, noted in Table 21.2, were applied as required. All costs presented in this sectionare in Canadian dollars unless otherwise stated.Table 21.2Base CurrencyForeign Exchange RatesForeign CurrencyCdn$1.00 US$1.00Cdn$1.00 AUD$1.00Cdn$1.00 €0.81Most pricing was submitted to Tetra Tech in US dollars. All foreign currency quotationsreceived from vendors were converted to Canadian dollars using the exchange rateslisted in Table 21.2.DUTIES AND TAXESDuties and taxes are not included in the estimate.MEASUREMENT SYSTEMThe International System of Units (SI) is used in this estimate.21.1.4 PROJECT EXECUTION SCHEDULEThe capital cost estimate is based on the following key milestone dates:• Q3 2013: start of basic engineering• Q1 2014: EPCM award• Q3 2016: underground development completion• Q3 2016: production start.Pretium Resources Inc. 21-2 1291990200-REP-R0012-02Feasibility Study and Technical Report on the BrucejackProject, Stewart, BC