NGD:CC - New Gold Q2 gold equivalent production soars 45% to 102K oz

2023-07-11 11:27:21 ET

New Gold ( NYSE: NGD ) +7.2% in Tuesday's trading after reporting Q2 gold equivalent production rose 45% Y/Y to 102,374 oz and saying it remains well positioned to meet all annual production guidance outlined previously.

Q2 total gold output jumped 46% Y/Y to 76,527 oz, including a 41% gain at the Rainy River mine to 59,882 oz and a 68% surge at the New Afton mine to 16,645 oz, the company said.

New Gold ( NGD ) said strong quarterly production results at Rainy River were attributed to higher mill availability due to proactive measures taken during planned maintenance activities.

The company said C-Zone development at New Afton remains on-track for first ore production in Q4 2023, and development of the underground Main Zone at Rainy River has commenced as planned.

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