Feasibility Study and Technical Report - Pretivm

Figure 22.1Pre-tax Cash FlowCumulative Net Cash Flow, $ million6,0005,0004,0003,0002,0001,0000(1,000)(2,000)(3,000)(4,000)(4) (2) 1 3 5 7 9 11 13 15 17 19 21 23 25Production year6005004003002001000(100)(200)(300)(400)Net Cash Flow, $ millionNet Cash FlowCumulative Net Cash Flow22.2.2 METAL PRICE SCENARIOSThe financial outcomes for the different metal price scenarios have been tabulated forNPV, IRR, and payback of capital. A discount rate of 5% was applied to all casesidentified by the following metal price scenarios:• base case• lower prices case• spot metal prices as of June 6, 2013.The summary of pre-tax project economic evaluation is presented in Table 22.2.Table 22.2Summary of Pre-tax NPV, IRR, and Payback by Metal PriceEconomic ReturnsUnitBaseCaseLowerPriceSpotPrices *NCF US$ million 5,278 1,408 5,898NPV at 5.0% Discount Rate US$ million 2,687 602 3,014Project IRR % 42.9 16.6 47.0Payback Years 2.1 4.7 1.9Exchange Rate US$:Cdn$ 1.00 1.00 0.98Gold Price US$/oz 1,350 800 1,416Silver Price US$/oz 20.00 15.00 22.70Note: *Spot prices as at June 6, 2013The summary of post-tax project economic evaluation is presented in Table 22.3.Pretium Resources Inc. 22-3 1291990200-REP-R0012-02.1Feasibility Study and Technical Report on the BrucejackProject, Stewart, BC