New Gold Output Increased 22% in 3Q

Thu Oct 05 2023

New Gold delivered a 22% increase in gold production in the third quarter as the mining company focuses on operational discipline and keeping costs down. Chief Executive Patrick Godin said New Gold remains on track to meet its target output for the year.

On production:

New Gold produced a total of 111,204 ounces of gold equivalent in the period, up from 91,021 ounces in the prior-year period.

This was broken down into 92,986 ounces of gold and 13.2 million pounds of copper produced, compared with 70,147 ounces and 8.5 million pounds a year ago.

"Rainy River [in Ontario] delivered on plan with a continued focus on operational discipline, cost control and cost saving initiatives. New Afton [in British Columbia] delivered above plan as mining from B3 continues to perform above expectations," Godin said.

Source: https://www.marketwatch.com/