NGD - New Gold suspends New Afton underground mining activities

2023-08-10 09:53:54 ET

New Gold ( NYSE: NGD ) -8.4% in early trading Thursday after saying it observed geotechnical variances at the New Afton tailings storage facility in British Columbia that require further review by the Engineer of Record.

Asa result, the company said it has suspended underground mining activities at New Afton, which will allow its EOR appropriate time to review the findings.

New Gold ( NGD ) said New Afton milling operations continue unaffected and are utilizing the existing surface stockpile.

Last year , British Columbia provincial regulators approved underground development of the C-Zone at the New Afton mine.

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